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Offset Mortgage Rates

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  • This week's rate changes are highlighted

Changes from last:

Lender type:


Property value:

Loan amount:


Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
Kiwibank - Offset 5.65 - - - - - - - -
Westpac - Offset 5.79 - - - - - - - -
Median 5.72 - - - - - - - -

Last updated: 22 July 2019 9:19am

This table is updated regularly and is intended as a brief guide to residential loans on owner-occupied properties in New Zealand. Users are advised to confirm the rates and conditions that will apply in your particular situation directly with the lender.

Terms explained

Floating rate: also known as the variable rate. This fluctuates according to market conditions.

Fixed rate: this rate applies for the length of the loan, which is fixed for a set period. We have given a sample of fixed rate periods only: many lenders offer fixed rate loans for as little as six months, while some go out to seven years.

LVR: this stands for the loan to value ratio and is the maximum percentage of a property's value that the institution will lend to. Check with the lender for any special conditions. Many, for example, may require you take out mortgage insurance if the LVR is over a certain level, or there may be other restrictions such as lending for apartments, which can be to a much lower LVR.

Capped rate: the maximum rate that will apply to a loan during its capped period. If the floating rate drops below the capped rate applicable then the lower floating rate will apply instead. There is no penalty for paying off lump sums, totally repaying the loan or for increasing your payments.

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