You could borrow up to $80,000 at a 1% p.a. fixed rate for 3 years, to pay for eligible upgrades to your home or electric transport options.
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You can apply for a Better Future home loan top-up^ for eligible upgrades, such as home insulation, ventilation, and heating. It also can be used for upgrading to an electric vehicle (EV), plug-in hybrid electric vehicle (PHEV), or hybrid electric vehicle.
The special pricing of 1% p.a. will only apply to the top-up for the initial fixed term period of 3 years. After this time, the loan can be re-fixed, or our floating home loan rate will apply.
You can apply to take out multiple Better Future home loan top-ups for further eligible upgrades. However, the cumulative lifetime amount you can borrow at the 1% p.a. rate will be capped at $80,000.
You could make your home warmer and more energy-efficient with these eligible upgrades.
You could reduce your carbon emissions with these eligible upgrades.
New or used electric vehicle (EV), plug-in hybrid electric vehicle (PHEV), or hybrid electric vehicle.
Portable or wall mounted electric vehicle chargers.
New or used electric bikes.
We’ll need to see proof that the loan will cover the cost of the upgrade (including the deposit, if applicable) as part of your application. Before we can approve the loan, we’ll need to be satisfied with the proof in all respects. Any quote must still be valid at the time it’s provided to us.
If you have a home loan with us, you can apply for a Better Future home loan top-up through Internet Banking or the BNZ app.
Log in to Internet Banking and select Apply now, then choose Apply for a home loan top-up.
Log in to the BNZ app and tap the menu icon (three horizontal lines in the top left corner). Select Apply now, tap Loans, and choose Apply for a home loan top-up.
You can apply for a BNZ home loan and a Better Future home loan top-up together.
If you have an equivalent healthy home top-up with another New Zealand bank, you may be able to include it for refinancing to BNZ as a Better Future home loan top-up.^ Contact us for more details on the eligibility criteria and how the special pricing of 1% p.a. would work in these instances.
Subject to lending criteria (including minimum equity requirements), terms and fees. An establishment fee of up to $150 for new customers may apply. For existing customers, a top-up fee of up to $100 may apply.
Must be a BNZ Standard home loan. The Better Future home loan top-up rate is only available when you have at least 20% equity in the property provided as security. This rate is not available for some investor lending. For residential property investors, more equity may be required where Reserve Bank minimum equity restrictions apply.
Not for business purposes or restructuring existing lending, and may not be used towards any portion of the eligible upgrade already paid for at the time of drawdown. Not for BNZ customers with Housing Under Construction lending unless the loans have been fully drawn. Not eligible for any cashback. This rate may not apply to some packaged offers. Early repayment charges may apply. Offer, interest rate, and fees subject to change.
BNZ is not responsible for the quality of any eligible upgrade.
After the initial 3-year fixed rate term, the loan can be refixed, or BNZ’s home loan floating interest rate will apply.
References to third party websites are provided for your convenience only. BNZ accepts no responsibility for the availability or content of such websites.