BNZ is back with more home loan rate increase tweaks, and some higher term deposit rates, completing a week of industry-wide rises under pressure from wholesale rate changes

Fixed rate mortgage increases are still coming.

The latest is from BNZ, back for a second set of increases since this time last week.

But these ones look more like relative positioning moves rather than setting new market levels.

They have raised their one year and eighteen month rates by +10 bps. And they have added the same amount to their four and five year fixed rates. This time, it is nothing more for their two or three year fixed home loan rates.

All the major banks have moved now over the past week. This puts all five of them on the same carded rates for six-months and one year fixed. For two years, there is a 30 bps gap between the highest (Westpac at 5.19%) and 4.89% for both BNZ and Kiwibank.

BNZ and Westpac have the lowest three year rates at 5.29%.

Accompanying the latest BNZ home loan rate rises are term deposit rises. They have upped all their TD rates for terms of one year and longer - except their 2 year rate which was already at 4.00%. But BNZ did not adopt any 5% TD rate as ASB did yesterday.

To compare mortgage rate offers in a way that includes the application and account fees costs, or break fee costs if you need to do that), and applying the impact of a cashback/legal fee reimbursement, or other incentive, you can use our home loan comparison calculator. You can find it here. Or, for convenience, we have added it to the bottom of this article.

Negotiate. How flexible banks may be will depend on the strength of your financials.

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

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 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 March 25, 2026	%	%	%	%	%	%	%
ANZ	4.49	4.59	4.89	5.09	5.39	6.09	6.19
	4.49	4.59	4.75	5.09	5.39	5.55	5.69
	4.49	4.59 +0.10	4.79 +0.10	4.89	5.29	5.59 +0.10	5.79 +0.10
	4.49	4.59 +0.10		4.89	5.35 +0.10	5.79 +0.10	5.89 +0.10
	4.49	4.59	4.85	5.19	5.29	5.39	5.59
Bank of China	4.38	4.48	4.48	4.58	4.88	5.28	5.28
China Construction Bank	4.49	4.49	4.69	4.89	5.09	5.39	5.49
Co-operative Bank	4.59	4.59	4.89	5.15	5.39	5.75	5.89
ICBC	4.39	4.49	4.65	4.89	5.15	5.45	5.65
	4.69	4.49	4.69	4.89	5.15	5.55	5.69
	4.59	4.39	4.99	4.89	5.29	5.55	5.69