MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise International Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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Compare Mortgage Options - The Definitive Guide for New Zealand Homeowners

Our guide compares Table Home Loans, Reducing Balance Home Loans, Offset Mortgages, Revolving Credit Mortgages and Interest-Only Mortgages

Mortgage Types NZ
Updated 3 July 2023
New Zealand banks offer up to five types of mortgage choices, each with a specific interest rate, repayment term and fee schedule. These factors influence the total cost of a mortgage. Our view is that while a standard 25 year fixed repayment mortgage is suitable for many first home buyers, there are more suitable options for those in unique situations.

In this guide, we outline the five mortgage types, their pros, cons and essential considerations. We also list some frequently asked questions to help you make the right choice when it comes to re-mortgaging or applying for a  first home loan. Our guide covers:
  • The Five ​​Types of Home Loans
  • Fixed vs Floating Interest Rates - Choosing the Right Option for Your Mortgage
  • Mortgage Types - Frequently Asked Questions

Know this first: Early Repayments
  • Generally, a fixed interest rate mortgage doesn't let you make overpayments (i.e. payment beyond what you've agreed in your repayment schedule) without charging a penalty. Some banks have a limit, such as the ASB which allows its customers to increase their fixed interest rate loan repayments by up to $500 per fortnight or $1,000 per month. However, anything over this will incur an early repayment charge. 
  • With a floating interest rate mortgage, there is no such early repayment charge, meaning the amount you can overpay is as little or as much as you wish.

Mortgage Types NZ

The Five ​Types of Home Loans

Our view is simple - the best home loan type is the one that's the most affordable and cost-effective. While most home owners will choose a Table Home Loan, it's not for everyone. Every New Zealander has a unique personal financial situation so it's important to consider all the options before agreeing to a mortgage. To help you, we suggesting contacting a mortgage broker to evaluate your options. 

Our list below outlines table home loans (the most common mortgage type), reducing balance home loans (relatively uncommon, but offered by speciality lenders), revolving credit mortgages, offset mortgages, and interest-only mortgages. 
​Please note, we have excluded reverse mortgages as they are a specific retirement-focused product and not relevant to most current and future homeowners.
Mortgage Types NZ

Table Home Loans

How Table Home Loans Work:
This is the loan most people choose; it has a regular repayment structure and terms of up to 25 or 30 years. You make principal and interest payments regularly (monthly, fortnightly, or weekly). Your initial payments cover mostly interest. As you pay the balance down, your interest charges decrease, and you pay more toward the principal balance. This is best seen visually in our loan amortisation calculator (table mortgages are structured so that you make fixed payments, and at the beginning you're paying mostly interest). 

Pros 
  • You know when your loan will be paid off (and you must follow a strict payment schedule to keep you on track).
  • You can budget your payments better, especially if you choose a fixed interest rate.

Cons
  • If you have an irregular income, it could be hard to keep up with the strict payments.
  • You may be charged for over-payments and early repayments. If you want to overpay your mortgage, check the terms and conditions before signing up.

What to Consider
  • You must decide if you want a fixed or floating interest rate. If you choose a fixed rate, you may not be able to make extra payments or raise your repayments.
  • Before you decide, determine your term (25 years is most common but not required), and think about how much flexibility you want.
  • If you feel better having a fixed payment for five years, for example, then a fixed rate is right for you. Look at your options (our best home loans has the latest offers) and think what's best for you long-term. 

Most suitable for:
  • First home buyers (In most cases)
  • Households with stable incomes re-mortgaging
  • Qualifying property investors

More Information:
  • Best Home Loans
  • Low Deposit Home Loans
Mortgage Types NZ

​Reducing Balance Home Loans

How Reducing Balance Home Loans Work:

Reducing balance home loans aren’t very common today, but some banks still offer them. Unlike a table loan, where you make a fixed payment every month, a reducing loan requires a fixed principal payment for the entire term, and the diminished principal will in turn generate less interest charges. As you pay the balance down, your interest charges decrease, as does your overall repayment. 

 Pros  
  • You pay off more principal each month than you would on a table loan
  • Works well for borrowers who will have decreasing income in future years
  • You pay less interest over the life of the loan because you make more payments towards the principal 
 
Cons
  • Reducing loans have high initial payments because of the larger principal fixed payment plus interest on the full amount, which can be hard to afford

What to Consider
  • A reducing loan is the most expensive loan option and makes sense for very few borrowers.​

Most suitable for:
  • ​Buyers in their 50s or 60s on high salaries looking to purchase a new property
Mortgage Types NZ

Revolving Credit Home Loans

How Revolving Credit Home Loans Work:
​If you have equity in your home, you may tap into it with the Revolving Credit Mortgage ("RCM"). This revolving account works much like an overdraft:
  1. You get access to your home’s equity (i.e. the money you've repaid on your mortgage) and can spend it how you want.
  2. The RCM becomes your ‘everyday account’ or the account you pay your bills with, use for daily spending, and even deposit your salary or wages into, rather than your bank account.
  3. A revolving credit loan is a line of credit. You pay interest only on the funds you withdraw. If you also have your wages deposited into your revolving credit loan, it offsets the amount you have outstanding, which minimizes your interest costs as interest accrues daily.
  4. You can repay as much (or as little) as you want each month and draw up to your credit line. It works to your advantage to keep as much  as possible of your pay in the account to minimize interest costs. 

Pros
  • A great option for people with variable income as there is no required monthly payment (but you should always make at least one repayment per month to keep on top of the debt)
  • If you time it right with your income and repayments, you could pay the loan off faster by offsetting the interest costs
  • You can make lump sum repayments at any time, but you also have the option to redraw the funds if you need them down the road
Cons
  • It takes incredible discipline to use a revolving credit line, as your goal is to pay off the mortgage quickly, but with a credit line available, it could be tempting to spend it

What to Consider
  • Look out for various fees. Some banks charge for regular banking transactions from the account, and others charge an application fee. Look at the bottom line to see what a loan could cost you in total so you can make an informed decision.
  • Only choose a revolving credit loan if you are exceptionally disciplined in your efforts to pay off your loan and not overspend. ​The 2008 global financial crisis was started by people borrowing against their home and then failing to repay - a difficult situation can go from bad to worse very quickly.

Most suitable for:
  • Anyone who wants to borrow to buy a high-ticket item can 'tap the equity' in their home by borrowing against the house using a revolving credit mortgage.
  • Business owners with varying income and the self-employed also find revolving credit mortgages beneficial to their cashflow situation.
  • If you have purchased a home with a partner and have separate finances, a revolving credit facility offers repayment flexibility.

More Information:
  • Revolving Credit Home Loans
Mortgage Types NZ

Offset Mortgages

How Offset Mortgages Work:
An offset mortgage links your mortgage to your everyday cash savings account (held with the same bank as the mortgage). The total sum of your savings is deducted from your mortgage balance, which reduces your monthly interest costs and repayments.

An offset mortgage doesn’t affect the value of your savings. Instead, your savings are deposited with the bank with which you have the mortgage, and their value is ‘offset’ against your mortgage balance. For example, if you have a $500,000 mortgage and $20,000 in cash savings, you’ll only pay interest on $480,000. You won’t earn interest on the cash savings as you usually would while it’s part of the offset mortgage.

Pros:
  1. Control over your monthly mortgage cost – while the principal repayment stays the same, the interest component will fall if you add more to your savings accounts.
  2. You are likely to save money - mortgage interest rates are, in most cases, higher than savings interest rates. You forgo interest income but save more overall, which can help pay off the mortgage faster.
  3. You have full access to your savings – this means your personal financial situation is flexible.
  4. You can make overpayments without penalty – because offset mortgages have floating interest rates, you can repay your mortgage as often as you like without being charged early repayment fees. Fixed-term mortgages don’t allow this.

​Cons: 
  1. Higher interest rates – you’re likely to be offered an interest rate above the current 2-year and 5-year home loan deals.
  2. You won't earn interest on the savings in your offset mortgage account

What to Consider
  • Be aware that the interest rate is floating, not fixed – the interest rate you pay will move if the Reserve Bank of New Zealand moves interest rates. This means your monthly mortgage cost could go up or down.
  • Offset mortgages will appeal to anyone who likes flexibility and is saving as they repay a mortgage.
  • The interest rate is, in most cases, well above the base rate offered by standard table loans. This will make month on month repayment more expensive. 

Most suitable for:
  • Parents helping their children with their first home (they avoid having to lend or invest a deposit; the amount offered simply sits in their bank account and earns 0% interest).
  • People who would like to have access to their savings when they are foreseeing the possibility of a big expense.

More information:
  • Offset Mortgages
  • Fixed or Floating Mortgage Rate Calculator
Mortgage Types NZ

Interest-Only Home Loans

How Interest-Only Home Loans Work:
In an interest only loan, your contributions at the start of the loan don't diminish the principal, they only cover the interest owed on the amount you borrowed. This makes for an attractive option because your mortgage payments would be lower since you are only paying for the interest part of the loan. However, an interest-only loan takes longer to repay overall as the principal remains unaffected so you will need to re-mortgage later on to a table loan and/or find other sources of money to repay the balance owed.
​
You and the bank agree upon the term in which you will repay interest only. This means you only cover the bank charges and don’t pay down your principal balance. This goes on for a predetermined amount of time. Banks require an initial deposit, and if the interest rate is floating (which is typical), there are no fees for early repayment.

Once the period ends, you have two choices – refinance into a table loan or pay the principal balance in one lump sum. Most people convert to a table loan, except for property investors who sell the home and pay off the loan.

Pros
  • Lower payments mean more cash flow which works well if you’re trying to make home improvements or need a lower payment initially
  • It may be a good option for homeowners looking to sell soon and who need to fix the home up first

Cons
  • Your interest charges never drop because you don’t pay the principal balance down and if you keep the home, you’re on the hook for a large lump sum payment at the end of the term.

What to Consider
  • ​Interest-only loans usually aren’t a great idea unless you know beyond a reasonable doubt that you’ll sell the home in the next couple of years and need the ‘freed up cash’ to cover renovations or repairs.
  • Dealing with a lump sum amount due is a scary proposition unless you know you’re in a strong position to secure a table loan upon maturity. ​

Most suitable for: 
  • ​Property investors, as they favour interest-only mortgages when house prices are rising year after year. 

More information:
  • Interest-Only Mortgages
  • Interest-Only Mortgage Calculator

Mortgage Types NZ

Fixed vs Floating Interest Rates - Choosing the Right Option for Your Mortgage

The majority of homeowners will choose a fixed interest rate for certainty, but an increasing number of homeowners are considering floating rates given the recent drop in interest rates. What's right for you is likely to be what's most affordable. For example, there's no benefit to taking on a fixed interest rate for five years if you believe you will make early repayments.

Before making a decision, evaluate your finances for the next two to five years. If you want a fixed repayment amount, then a fixed interest rate is likely to be the most suitable. However, those wanting to overpay their mortgage month after month may wish to consider floating options and/or a bank that offers a generous fee-free early repayment allowance.

Option 1 - Fixed Interest Rate

Fixed rates lock in a specific rate for one to five years. You know your rate for the specified term and can budget accordingly. 

How it Works
  • You lock in a rate for the specified term – usually one to five years. When the term expires, you can choose another fixed interest rate loan or a variable rate loan if you feel it’s a better fit. 

Pros
  • You always know your payments (at least for the specified term). This makes it easier to budget.
  • You can lock in an interest rate you feel most comfortable with, and not have to worry about adjustments.
  • You don’t have to worry about unexpected payment increases.

Cons
  • You cannot make lump sum or early repayments without paying a penalty. 
  • You don’t get to take advantage of falling rates (if applicable).

Option 2 - Floating Rate

A floating rate changes with the market. It can increase or decrease at any given moment, which means you never know your true interest rate because it fluctuates.

How it Works
  • Most banks tie the floating rate to the Official Cash Rate. When it increases, so does your mortgage rate, but when it decreases your payment falls. Your bank must notify you of the new rate anytime it changes, and it must inform you of the new repayment amount.

Pros  
  • You can take advantage of falling rates and save money on your payments.
  • You are free to make lump sum or extra repayments at any time​
 
Cons
  • The unpredictability can be too much for some people to handle and if rates get too high, it can make your payment unaffordable. ​

Mortgage Types NZ

Mortgage Types - Frequently Asked Questions

Selecting the right mortgage takes time if you want to ensure you make the right decision. Our frequently asked questions help anticipate what's most important. 

​Can you split your interest rate between fixed and floating rates?

Yes, most banks allow you to split your mortgage into two portions – one with a fixed rate and one with a floating rate. You can make extra repayments on the floating portion, but not on the fixed rate portion.

​Should borrowers with irregular income choose a table loan?

Table loans are the most predictable option, but also the hardest for borrowers with unpredictable income. If you aren’t sure if you can comfortably afford the payment no matter your income, it may not be the best option.

​Do you earn interest credit on your savings tied to Offset Loans?

No, any accounts you link to your offset loan do not earn interest from the bank that holds it. Instead, you save on the interest you would have paid on that amount of your mortgage. Overall, it's likely you'll save more - mortgage interest rates are often much greater than the bank account savings rates (i.e. 3.59% mortgage rates vs a 1.50% bank interest rate).

Related Guides
  • ​Interest-Only Mortgages Guide
  • First Home Loan Guide
  • Pay Off Your Mortgage Faster
  • Mortgage Holiday Guide
  • Remortgaging Guide
  • ​Mortgage Brokers
Mortgage Options: 
  • Offset Mortgages
  • Top 10 Home Loans
  • Low-Deposit Home Loans
  • Revolving Credit Mortgages
  • Investment Property Mortgages
  • ​Fixed or Floating Mortgage Rate Calculator
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