Mortgage Calculator
Compare live bank rates and calculate your repayments.
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Repaying fortnightly or weekly instead of monthly can save thousands in interest because you reduce the principal faster.
| Bank | Rate | Monthly | Total interest |
|---|---|---|---|
| ASBlowest | 4.65% | $2,822 | $346,571 |
| BNZ | 4.65% | $2,822 | $346,571 |
| ANZ | 5.29% | $3,008 | $402,415 |
| Westpac | 5.39% | $3,038 | $411,304 |
| TSB | 5.49% | $3,067 | $420,236 |
| Kiwibank | 5.65% | $3,115 | $434,616 |
Rates shown are indicative — contact each bank for a personalised quote based on your deposit and LVR.
How it works
Mortgage repayments are calculated using the loan amortisation formula: M = P[r(1+r)^n]/[(1+r)^n–1], where P is the principal, r is the monthly interest rate, and n is the number of payments. Each payment covers interest plus a portion of principal.
Current rates
Interest rates vary by bank and term. Rates are sourced from major NZ banks. Use the rate comparison feature to see how different terms affect your payments. Most NZ banks use a ~6–6.5% stress test rate for lending decisions.