LVR stands for loan-to-value ratio. It is the size of your home loan compared with the value of the property, shown as a percentage. For example, borrowing $400,000 on a $500,000 home is an 80% LVR.

Why is 80% LVR the key number?

Banks usually offer their best interest rates when you have at least a 20% deposit or equity, which is an LVR of 80% or less.

How often do banks change rates?

There is no set schedule. Banks can change their interest rates at any time and without notice, sometimes several times in a month. That is why this page shows the date the rates were last updated.

What’s the difference between fixed, floating, offset and revolving credit?

A fixed rate stays the same for the chosen term, from 6 months to 5 years. A floating rate can move up or down at any time, but you get greater flexibility to make extra or lump-sum repayments, reducing the overall interest you pay. An offset loan uses the money in linked accounts to reduce the interest you pay. Revolving credit works like a large overdraft, where your income and savings reduce the balance until you need them.

How can a mortgage adviser help me get a better rate?

An adviser compares options across many lenders, understands their lending criteria, and can present your application to the lenders most likely to suit your situation. In some cases, lenders may offer a rate below their advertised rate.

Updated 20 October 2026

Home loan interest rates NZ, compared

Advertised rates for lending up to 80% LVR from ANZ, ASB, BNZ, Kiwibank, Westpac, Co-operative Bank, SBS and TSB, side by side. The lowest rate for each term is highlighted.

Rates up to 80% LVR

Lowest rate for each termRates as at 20 October 2026

Advertised home loan rates up to 80% LVR from eight New Zealand banks, as at 20 October 2026
Term	ANZ	ASB	BNZ	Kiwibank	Westpac	Co-operative Bank	SBS	TSB
6 months	4.79%	4.79%	4.89%	4.85%	4.89%	4.89%	4.85%	4.89%
1 year	4.99%	4.99%	5.19%	5.15%	5.19%	5.19%	5.19%	4.99%
18 months	5.29%	5.29%	5.29%	–	5.45%	5.35%	5.29%	5.45%
2 years	5.35%	5.35%	5.35%	5.39%	5.29%	5.49%	5.29%	5.39%
3 years	5.59%	5.59%	5.59%	5.59%	5.59%	5.69%	5.59%	5.69%
4 years	6.39%	5.65%	5.65%	5.79%	5.65%	5.89%	5.65%	5.89%
5 years	6.49%	5.75%	5.75%	5.89%	5.75%	5.99%	5.75%	5.99%
Floating	6.29%	6.29%	6.34%	6.25%	6.39%	5.69%	6.34%	6.29%
Offset	–	–	6.44%	6.25%	6.39%	–	–	–
Revolving credit	6.15%	6.39%	6.44%	6.30%	6.49%	5.69%	–	6.39%

Lowest rate by termTap a term to see all banks

6 months ANZASB 4.79% All banks ▾

ANZ4.79%

ASB4.79%

BNZ4.89%

Kiwibank4.85%

Westpac4.89%

Co-operative Bank4.89%

SBS4.85%

TSB4.89%

1 year ANZASBTSB 4.99% All banks ▾

ANZ4.99%

ASB4.99%

BNZ5.19%

Kiwibank5.15%

Westpac5.19%

Co-operative Bank5.19%

SBS5.19%

TSB4.99%

18 months ANZASBBNZSBS 5.29% All banks ▾

ANZ5.29%

ASB5.29%

BNZ5.29%

Kiwibank–

Westpac5.45%

Co-operative Bank5.35%

SBS5.29%

TSB5.45%

2 years WestpacSBS 5.29% All banks ▾

ANZ5.35%

ASB5.35%

BNZ5.35%

Kiwibank5.39%

Westpac5.29%

Co-operative Bank5.49%

SBS5.29%

TSB5.39%

3 years ANZASBBNZKiwibankWestpacSBS 5.59% All banks ▾

ANZ5.59%

ASB5.59%

BNZ5.59%

Kiwibank5.59%

Westpac5.59%

Co-operative Bank5.69%

SBS5.59%

TSB5.69%

4 years ASBBNZWestpacSBS 5.65% All banks ▾

ANZ6.39%

ASB5.65%

BNZ5.65%

Kiwibank5.79%

Westpac5.65%

Co-operative Bank5.89%

SBS5.65%

TSB5.89%

5 years ASBBNZWestpacSBS 5.75% All banks ▾

ANZ6.49%

ASB5.75%

BNZ5.75%

Kiwibank5.89%

Westpac5.75%

Co-operative Bank5.99%

SBS5.75%

TSB5.99%

Floating Co-operative Bank 5.69% All banks ▾

ANZ6.29%

ASB6.29%

BNZ6.34%

Kiwibank6.25%

Westpac6.39%

Co-operative Bank5.69%

SBS6.34%

TSB6.29%

Offset Kiwibank 6.25% All banks ▾

ANZ–

ASB–

BNZ6.44%

Kiwibank6.25%

Westpac6.39%

Co-operative Bank–

SBS–

TSB–

Revolving credit Co-operative Bank 5.69% All banks ▾

ANZ6.15%

ASB6.39%

BNZ6.44%

Kiwibank6.30%

Westpac6.49%

Co-operative Bank5.69%

SBS–

TSB6.39%

Borrowing with less than 20% deposit?

Low-equity pricing varies a lot between banks. Talk to Arun for what you’d actually pay.

Contact Arun Call 027 511 2311

Terms & conditions

Advertised rates. Rates shown are lenders’ advertised rates for lending up to 80% LVR as at the date shown. This information may contain errors, omissions or delays.

Rates can change. Lenders can change their rates at any time without notice. The figures shown are not a final representation of what a lender may offer you.

General information only. This page doesn’t consider your personal situation, needs or goals and isn’t personalised financial advice.

Lending criteria apply. All lending is subject to each lender’s credit criteria, terms and conditions. Inclusion here doesn’t guarantee approval or the rate shown.