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TSB home loans

TSB understands one size doesn’t fit all. It offers a range of repayment options and will match rates from other leading banks.


What started out as a small regional bank in New Plymouth back in 1850, TSB now has a nationwide presence with branches in many towns and cities. In 2019 it won the Consumer NZ People’s Choice Award for Banking for the fourth year in a row and in 2018 TSB was awarded the Canstar Blue Overall Customer Satisfaction Award for the fifth time in 6 years.

This is a bank that continues to grow from strength to strength. As well as providing everyday banking solutions for Kiwis, TSB services home loan customers all over the country and is able to match advertised rates provided by other banks.

Home loans offered by TSB

  • Fixed rate. With a fixed-rate home loan, you have certainty around what your payments are going to be for a fixed term. Standard rates start at 3.89% for 6 months through to 4.55% for 5 years. If you have a 20% deposit, you can enjoy a special rate of up to 0.8% lower p.a.
  • Floating rate. TSB’s current standard variable rate is 6.09% and 5.29% if you have a minimum of 20% deposit. If you choose a variable rate home loan, your interest rate will go up and down according to the market. With the ability to make extra repayments when you want, you may be able to pay your home loan off faster.
  • Revolving credit. Rather than having a separate loan account, a revolving credit home loan works similar to an overdraft on your everyday transaction account. While you’ll be put on a variable interest rate of 5.29%, there is no set payment schedule and you can reduce your loan limit as and when it suits you.

Features and benefits

  • Rate match. If you find a better interest rate advertised at Westpac, ASB, ANZ or BNZ, TSB will match it.
  • Align your repayments. Whether you are paid weekly, fortnightly or monthly, you can align your payments for your TSB home loan to suit.
  • Special rates. If you have a minimum of 20% deposit you can enjoy special TSB mortgage rates and pay less over the course of your home loan.
  • Fixed or floating. If you can’t decide between having a fixed or floating interest rate, you can divide your loan with one part fixed and one part floating.
  • Bridging finance. TSB offers bridging finance if you want to purchase a new home before you’ve sold your existing one. Using your property as security and an interest rate of 1.00% higher than standard rates, your loan is paid off once you’ve sold.
  • Extra repayments. Normally you would be charged a fee for making extra repayments on a fixed-rate loan, but TSB allows you to make payments of up to $10,000 a year over your standard commitment. If you’re on a floating rate, you can make extra repayments at any time without penalty.
  • StepUp. By activating StepUp on your home loan, your repayments will increase slightly each year so you can pay off your loan faster.
  • Loan top up. If you need some extra funds to pay for home improvements, a wedding, a dream holiday or to consolidate debts, you can apply to top up your home loan.
  • Mobile Mortgage Managers. If you’re not able to make it into a TSB branch, a Mobile Mortgage Manager can come to you at a time that suits.

How do I apply?

Before applying for a TSB home loan, make sure that you meet the eligibility criteria and have the appropriate documentation outlined below. It’s also a good idea to compare the terms and interest rates with other lenders to understand if you are getting the best deal to suit your circumstances.

You can start the process by visiting your local branch or making an appointment with a Mobile Mortgage Manager.


To be eligible for a TSB home loan, you must be at least 18 years of age and meet the standard lending criteria. You should have a regular income and be able to meet the repayment obligations of your loan.

Documents required

For TSB to be able to assess your situation correctly, you’ll need to provide the following with your application:

  • Photo ID. Passport or driver’s licence
  • Proof of income. Three months’ bank statements and two of your most recent payslips. If you are already a TSB customer, you may not need to supply these.
  • Debt statements. If you have other personal loans, credit cards or hire purchases, you will need to show statements from the last three months.

Read more on this topic

  • Revolving credit mortgages If you’re looking to reduce interest charges yet have access to credit when you need it, a revolving credit mortgage is worth considering.
  • Bad credit home loans Find out how you can get your bad credit home loan application approved by a lender.
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  • Mortgage repayment holidays If you've been struggling to pay your mortgage due to financial hardship you may be able to apply to your lender for a mortgage repayment holiday.
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  • How to save for a house deposit Finder's clear, helpful guide to saving up for a home loan deposit. Savings advice and finance options.
  • 5 year fixed rate home loans A competitive five year fixed rate home loan will see your repayments stay the same for a large chunk of your home loan.
  • 3 year fixed rate home loans A fixed-rate home loan can offer you stability and peace of mind. Find out if a three-year fixed rate home loan is right for you.
  • 2 year fixed rate home loans Enjoy the stability of knowing your repayments won’t change for two years.
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