What could I save with a TotalMoney for Business loan?

Use this calculator as a guide to find out how offsetting the balance of your business accounts could save you interest and reduce the length of your TotalMoney for Business loan.

Current TotalMoney rate1
Effective rate2
Amount saved in interest3
Time shaved off your loan

About this calculator and TotalMoney for Business loans

This calculator is intended as a guide only and is not a quote or an offer of finance by BNZ.

We’ve had to make some assumptions to show you the potential savings:

  1. The interest rate remains the same for the term of your loan. Note that in reality, interest rates are likely to change over time.
  2. An effective rate is calculated by using the annualised amount of interest charged after offsetting divided by the full loan amount outstanding. If the amount you offset changes, the effective rate will also change. Your loan payments will still be calculated using the current TotalMoney for Business variable interest rate. Your repayments will remain the same. Because we do not calculate interest on the portion that is offset, the amount of interest paid within each repayment will be lower (and so your effective rate will be lower). Therefore the principal portion will be higher and the loan will be paid off faster.
  3. The interest on your loan is calculated daily and charged monthly, over the term of your loan.
  4. The average balance of your transaction and savings accounts will remain the same for the life of the loan.
  5. You don’t make any additional lump sum repayments or increase your regular repayments above the standard repayments (but you could choose to do this to reduce the term and interest charges).
  6. There are no changes to the loan amount and you don’t borrow any extra on this loan.
  7. Actual amounts may vary slightly due to rounding.

Things you should know about our TotalMoney for Business loan

All loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Interest rates are subject to change. A low equity interest rate premium and/or an additional credit margin may apply.