Mortgage One home loan

Save on interest by using your savings and income to lower the daily balance of your loan.

  • Gives you immediate access to your money
  • Flexibility to redraw up to a non-reducing limit1

More detail

A Mortgage One1 home loan has a floating interest rate. It's like a large interest-only overdraft facility on a full-access savings and transaction account. Mortgage One can be ideal if you earn a higher income that's seasonal or irregular during the year, or you prefer complete flexibility with making payments.

Flexibility and control

With a Mortgage One1 home loan you can deposit money into your account at any time. You can also withdraw money up to your agreed credit limit, which doesn't change. As long as you pay the monthly interest and account fee, you can use your Mortgage One account however you choose. It gives you full control.  So, if you're a confident money manager, Mortgage One can help you be better off.

Reduce your interest costs and save

You can deposit all your income and savings into your Mortgage One account and then use that money whenever you need to. In the meantime your loan balance is immediately reduced, which means you pay less interest. Using your savings in this way gives you a competitive return because you're paying less interest on your loan.

The freedom to act

Mortgage One gives you 24-hour access to money, up to your credit limit. It's a full-access account which means you can manage your money through EFTPOS, ATMs, telephone and internet banking, at any BNZ store, or with a Flexi Debit Visa card wherever Visa is accepted.

Other things it helps to know

The minimum loan size is $40,000 and the maximum is $750,000. The monthly account fee is $20 and this includes all EFTPOS, bill payment and BNZ ATM transactions. Service fees for things like setting up an automatic payment, still apply.

 Floating Home Loan Interest Rate
This rate may differ for existing home loan customers. For more information please call us free on 0800 ASK BNZ (0800 275 269)
Current Interest Rate % p.a. View rates here

 Service Fees2
Fee Name What is the fee?
Establishment Fee
Personal Lending to individuals3		 Up to $400
Establishment Fee
All other lending including but not limited to cases where investment properties, family trusts or companies are involved		 Up to 1% of loan amount.
Rollover/Re-fix Fee
(Re-fix the interest rate on your home loan)		 $1504
Top Up Fee
(Apply to increase your overall home loan borrowing)		 $2504
Re-documentation Fee
(New loan agreements or amendments are required for services such as product changes, borrower changes, some types of repayment changes etc)		 $2504
Re-draw Fee
(Re-draw funds that your original loan approval covered, but that you may have repaid faster than the minimum requirement. Re-draw cannot take place while your loan is on a fixed interest rate, but you can ask us to Re-draw funds when your fixed period is about to expire)		 No fee applies

Next steps

Apply online nowFind a store 0800 275 269

Small print

  1. Not available for loans for business purposes or packaged offers. Account and Service Fees apply.
  2. Account Fees may be charged in addition to Service Fees and that all fees are subject to change without notice.
  3. For individual customers (where the customer is a natural person and not a company/trust) if the loan is primarily for personal, domestic, or household purposes.
  4. For all non-personal lending (including but not limited to cases where investment properties, family trusts or companies are involved) a fee of up to 1% of the loan may be charged for this service.

Our lending criteria and establishment or re-documentation fees apply. A Low Doc or Low Equity Interest Rate Premium may apply. Loans are not available for business purposes or packaged offers. A higher interest rate may apply to loans if the application is accepted but does not meet our standard lending criteria.