Kiwibank’s lowest rate…
- The Kiwibank home loan has a 3.39% p.a. fixed interest rate if you have a minimum of 20% equity. This is currently the lowest one-year rate offered by any major bank.
Made by Kiwis for Kiwis back in 2002, Kiwibank has over 200 branches nationwide and over 2,500 employees. This is a full-service bank that supports New Zealanders doing extraordinary things as well as those who are opening their first bank account or buying their first home.
With products available for both personal and business use, Kiwibank offers loans, investment opportunities, credit cards, savings accounts and insurance, with Internet banking and live chat available online.
Kiwibank has four types of home loans available: fixed rate, variable rate, offset mortgage and revolving credit.
|Deposit size||Standard deposit is 20%, but in some cases a lower deposit is possible.|
|Payments||Most Kiwibank mortgages allow you to make extra repayments whenever you want.|
|Revolving credit||This mortgage is suitable for people with irregular income such as self-employed.|
|Interest security||With a fixed rate loan you won’t be affected if interest rates rise, and with a variable loan you’ll pay less if interest rates fall.|
Head to Kiwibank’s website where you can fill in a home loan application form. This will take around 25 minutes to complete. Once the form is submitted, Kiwibank will respond within 60 seconds with either a conditional pre-approval subject to supporting evidence or you will be notified that your application has been referred to a loan specialist. You should make sure that you meet the eligibility criteria and have the appropriate documentation ready to go before applying.
To be eligible to apply for a Kiwibank mortgage you will need to meet the following criteria:
To support your application for your Kiwibank home loan, you will be asked to provide documentation to confirm your personal information. Be sure to have these ready to go when you apply.
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