Kiwibank makes mortgage rate changes, staying competitive for one year fixed but they now have the highest carded rates for longer fixed terms. Its matching term deposit rate changes are for terms savers don't favour

Kiwibank is the next major home loan lender to raise fixed mortgage rates.

Its new one year fixed rate is pitched at 4.65%, between ANZ and Westpac's 4.69% and ASB and BNZ's 4.59%.

Its two year rate has risen +20 bps to 5.29% and the highest of any major, and in fact the highest of any bank.

Its three year fixed rate is now 5.55%, up +10 bps and also the highest of any bank.

But Kiwibank is unlikely to be too concerned about being out of step with its main rivals. It has developed strong broker networks, including its own sibling relationship with NZ Home Loans, so this will give them some natural protection from their embedded client base shopping around for sharper rates.

Over the past week both ANZ and Westpac have also raised fixed rates. ANZ's rises were comprehensive but Westpac's were only for their 12 and 18 month fixed rates.

This Kiwibank mortgage rate rise is twinned with term deposit rate rises. Kiwibank trimmed its six month term deposit rate by -5 bps to 3.50%. It left its one year rate unchanged at 3.75%. But it raised its two year rate by +15 bps to 4.25%, and its three to five year TD rates by +10 bps. But terms longer than one year have never been in favour by savers, so the overall impact is more promotional than substantive.

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 April 21, 2026	%	%	%	%	%	%	%
ANZ	4.49	4.69	4.99	5.29	5.49	6.19	6.29
	4.49	4.59	4.85	5.09	5.39	5.55	5.69
	4.49	4.59	4.79	4.89	5.29	5.59	5.79
	4.49	4.65 +0.06		5.29 +0.20	5.55 +0.10	5.89 +0.10	5.99 +0.10
	4.49	4.69	4.99	5.19	5.29	5.39	5.59
Bank of China	4.38	4.48	4.68	4.78	5.08	5.38	5.58
China Construction Bank	4.40	4.49	4.49	4.54	4.90	5.10	5.20
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
	4.49	4.59	4.85	5.09	5.29	5.55	5.69
	4.59	4.49	4.99	5.09	5.29	5.55	5.69