12 Months Fixed 

A 12 month fixed rate home loan allows you to lock in a home loan rate for a period of one year. This means that your loan repayments will stay the same for 12 months from when your bank processes it.

When your 12-month fixed rate period ends, you can choose a floating rate or another fixed rate. Why not contact us to find out more about current home loan rates in NZ?

WHEN A 12 MONTH FIXED RATE TERM MAY SUIT YOUR GOALS AND NEEDS 

• You are expecting to pay off your home loan soon and don’t want to incur penalty fees. An example of this would be if you are renovating and will be putting your house on the market in the next year. As a result, your fixed rate can be lower than a floating rate at the time.

• You believe lower home loan rates could be on the horizon, so you don’t want to fix your lending rate for too long.

• You have more than one loan, and your other loan is due to come off its fixed 12-month rate. You want to look at your restructuring options, such as renegotiating your loan into one.

12 MONTH FIXED RATES 

Below, you can compare the advertised home loan rates available against the various banks listed.

We have used the term advertised because, in most cases, we can get the banks to offer lower rates. New borrowers may also qualify for cash.

12 MONTH HOME LOAN FIX RATES

BANK...........................SPECIAL RATE*

ANZ................................................................2.79%

ASB................................................................2.99%

BNZ CLASSIC.................................................2.99%

THE CO-OPERATIVE BANK.............................2.85%

SBS BANK......................................................2.75%

WESTPAC BANK.............................................2.99%

Last updated Monday 18 October 2021, 12.48pm

*Special Rates come with terms and conditions. e.g available for owner occupied home loans with at least 20% equity/ deposit and in some cases apply to First Home Loan customers with as little as 5% deposit. 

Disclaimer  

Every possible effort has been made to keep the information in this table as accurate as possible, however, neither the publishers of Mortgage Field nor anyone engaged to compile this table accept any liability for inaccuracies or any loss suffered as a result.

It is strongly advised that readers check loan details with the respective banks.

The examples shown above are only a guide and so we strongly recommend you contact us to ensure that this rate is fit for purpose.