Kiwibank follows its main rivals with its own home loan rate cuts, concentrating its fire on the short fixed rate end. Its term deposit savers are getting their own cuts, across the board

The next to shift fixed home loan rates down is Kiwibank.

They have stayed concentrated on short six and 12 month rates as their most competitive offer.

Their move for six months is a -20 bps cut to 5.29%. Their move for a 1 year fixed rate is -10 bps to 4.89%. Both these new carded rates are lower than all their big Aussie bank rivals.

They have also trimmed their 2 year fixed rate by -4 bps, aligning it with nearly everyone else. And they have taken -6 bps off their fixed three year carded rate, but the new 5.29% rate is quite uncompetitive still for this fixed term.

At the same time, they have 'paid' for these home loan rate cuts with matching term deposit rates cuts. Almost all their TD rates are down by -10 bps, except the short 4 and 5 month rates which have been reduced by -15 bps. Kiwibank has no TD rate offers left above 4%, except for very long rates.

This is all part of a general slow but relentless tightening of margins in the mortgage market, on competitive pressures. Readers of our swap rate chart below will know that wholesale money costs are not falling.

Those competitive pressures come as the background economy struggles to achieve any expansion momentum.

If you are a borrower, still negotiate. You are a valuable potential for any bank. How flexible a bank may be will depend on the strength of your financials.

One useful way to make sense of the changed home loan rates is to use our full-function mortgage calculator which is below.

And if you already have a fixed term mortgage that is not up for renewal at this time, our break fee calculator may help you assess your options. Break fees will be minimal in a rising market. But they become important in a falling market, like now.

Here is the updated snapshot of the lowest advertised fixed-term mortgage rates on offer from the key retail banks at the moment.

Fixed, below 80% LVR	6 mths	1 yr	18 mth	2 yrs	3 yrs	4 yrs	5 yrs
as at June 9, 2025	%	%	%	%	%	%	%
ANZ	5.29	4.95	4.89	4.95	5.09	5.79	5.79
	5.45	4.95	4.89	4.95	5.15	5.59	5.69
	5.35	4.95	4.89	4.95	5.09	5.39	5.59
	5.29 -0.20	4.89 -0.10		4.95 -0.04	5.29 -0.06	5.59	5.79
	5.49	4.95	4.95	4.95	4.95	5.39	5.39
reader reported rates		4.89			4.89	5.04	5.09
Bank of China	5.15	4.85	4.85	4.95	5.05	5.35	5.35
China Construction Bank	5.49	4.99	4.99	4.99	5.29	5.99	5.99
Co-operative Bank (*=FHB only)	5.39	4.89*	5.09	4.99	5.39	5.59	5.69
ICBC	5.15	4.85	4.85	4.95	5.05	5.35	5.39
	5.45	4.95	4.95	4.95	5.15	5.39	5.39
	5.49	4.99	5.09	4.99	5.39	5.79	5.89