The table below can help you compare our home loan options and choose the best for you. Don’t forget you can also speak to us about choosing a combination of our home loan options to suit your needs.
|Loan information||Fixed Interest Rate||Floating Interest Rate||Flexible Home Loan|
|Benefits||Budget with confidence and protect yourself from interest rate rises during the fixed term.||Flexibility, the ability to make extra repayments or switch to a fixed interest rate at any time. This loan can also adapt with changes in your circumstances.||Put all your available money into this all-in-one home loan and transaction account. You could reduce your interest costs and may pay off your loan sooner.|
|Interest rate||Fixed rate periods for six months or one, two, three, four or five years||Floating||Floating|
|Minimum loan term||No minimum term||No minimum term||No minimum term|
|Maximum loan term||30 years||30 years||No set term|
|Minimum loan amount||No minimum amount||No minimum amount||No minimum amount|
|Maximum loan amount||95%* of the value of your property||95%* of the value of your property||95%* of the value of your property.|
||No set frequency|
|Increased regular payments||Up to 5% of your loan balance^||NA||NA|
|Extra lump sum payments||Early repayment fee^||NA||NA|
|Loan repayment holidays||Yes^^ (on application)||Yes^^ (on application)||NA|
|Loan top-ups||Yes (as a separate loan)||Yes (on application)||Yes (on application)|
|Interest only option||Up to 10 years (on application)||Up to 10 years (on application)||NA|
|Application fee||Up to $500 for owner-occupied property. Up to 1% of the loan amount for all other lending.||Up to $500 for owner-occupied property. Up to 1% of the loan amount for all other lending.||Up to $500 for owner-occupied property. Up to 1% of the loan amount for all other lending.|
|Available to use to buy residential investment properties||Yes||Yes||Yes|
You can apply to borrow more money on the same terms if you have an ANZ Home Loan - Floating Rate or a Flexible Home Loan (a fee may apply). If you have an ANZ Home Loan - Fixed Rate, you can apply for a separate loan at the interest rate applying at the time you start using your "top-up".
With an interest-only home loan, you start out by paying only the interest due on the amount you've borrowed. Because you're not repaying any of the principal, your repayments aren't as high as with other loan types.
You can choose either a fixed or floating interest-only loan for a term of up to 10 years. After that, you have to either pay off your original loan amount (the principal) or change to a table loan or a reducing loan.
Interest-only loans are useful if:
- you need a loan now, but don't want to make full repayments straight away – for example as "bridging finance" when you need money for a new home before you've sold your old one
- you know you'll have enough money to pay off your original loan before the end of your interest-only term – for example, if you have a large investment due to mature in three years' time.
Remember, at the end of the interest-only term, you'll still owe your entire original loan amount.
For more information or to apply for an ANZ Home Loan:
Contact an ANZ Mobile Mortgage Manager
Call 0800 ANZ HOME (0800 269 4663)
Visit your nearest ANZ branch
* Lending criteria apply. A loan approval fee may apply. A low equity premium may apply where a loan amounts to over 85% of the property's value. A registered valuer's report will also be required for lending over 80% of the property's value.
^For the first repayment you make in each year of your fixed rate period, you can now pay up to 5.00% of the principal amount without incurring an Early Repayment Recovery. An Early Repayment Administration Fee may apply.
You may be charged an Early Repayment Recovery and an Early Repayment Administration Fee on any additional repayments you make or any repayments over 5.00% of the principal amount that you owe on your loan.
^^ Home Loan repayment holidays are not available on interest only.
For the ANZ First Home package, you need an ANZ everyday account with your salary, wages or business income direct credited and an ANZ Serious Saver account. ANZ lending criteria, terms and conditions and fees apply to all loans.
A copy of the Reserve Bank Disclosure Statement published by ANZ Bank New Zealand Limited may be obtained on request from any ANZ branch.
This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.
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