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BNZ Bank Loans Review

BNZ Bank Loans Review

BNZ Bank Loans Review – Being one of the New Zealand’s biggest banks, BNZ helps its customers with comprehensive services for over 150 years. You can take advantage of lower rates and financing anytime you want.

BNZ Bank Loans Review

Once you are approved, you can receive from $1,000 up to $30,000 instantly to repay in monthly repayments (usually range between 3 months and 5 years) which can be used to cover your expenses or consolidate your debt.

BNZ Bank Personal Loans Review

If you want to make early repayments, you will not be charged additional fees. You will be charged 17.85% p.a. interest rate and $50 loan facility fee. If you are a student, graduate or apprentice, you will be charged 22.65% p.a interest rate and no loan facility fee.

BNZ Bank Home Loans Review

If you get approved for a home loan, after depositing at least 20% equity in the property, the fixed interest rate you charged will be:

  • 65% for 1 year
  • 49% for 2 years
  • 99% for 3 years

The interest rate you will be charged also depends on whether you are an owner or an investor.

There are several BNZ Bank Home loan options you may want to consider:

  • Fixed (Classic) Rate: The interest you pay remains the same over the life of the loan and usually lower than normal. But, you need the deposit a certain amount of equity first.
  • Floating (Fly Buys) Rate: Allows you to make extra or lump sum payments and have a chance to earn FlyBuys rewards.
  • Offsetting (Total Money): You can save on interest and get rid of your debt faster by using the balance of your current accounts.
  • Revolving Credit (Rapid Repay): Allows you to reduce your daily loan balance and save on interest.

All in all, after saving a deposit and applying for a loan, once approve, all you have to do is finding your dream house and making an offer.

BNZ Credit Cards

Before applying for a credit card, you should make further research and decide whether you want to pay less interest or earn rewards.

Rewards Cards: Allow you to earn cash rewards or Fly Buys points.

  • BNZ Advantage Classic Credit Card. – For $150 you spend, you earn $1 cash reward and for $40 you spend. You earn 1 Fly Buys Point. You can also get $75 cash back or 500 Fly Buys points. As you spend $1,500 in the first 3 months. Charge $40 p.a account fee and $12 card fee. Minimum credit limit is $500 and charge 20.95% p.a purchase interest rate.
  • BNZ Advantage Visa Platinum. – For $90 you spend, you earn $1 cash reward and for $15 you spend. You earn 1 Fly Buys Point. You can also get $150 cash back or 1000 Fly Buys points. As you spend $2,500 in the first 3 months. You will be charge 940 p.a account fee and $20 card fee. Minimum credit limit is $8,000 and you will be charge 18.95% p.a purchase interest rate.

Low Rate Cards: Allow you to save on interest and purchases.

  • Low Rate Mastercard. Charge 0$ account fee for 6 months and 0% p.a balance transfer rate for the first year. There will be charge a lower purchase interest rate (13.45% p.a.) and you can also benefit from 55 interest-free days.