{"id":523453,"date":"2026-07-13T07:26:12","date_gmt":"2026-07-13T07:26:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/523453\/"},"modified":"2026-07-13T07:26:12","modified_gmt":"2026-07-13T07:26:12","slug":"nzs-largest-bank-hikes-some-home-loan-rates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/523453\/","title":{"rendered":"NZ’s largest bank hikes some home loan rates"},"content":{"rendered":"

Homeowners with the country’s biggest bank will pay more on their floating mortgages after ANZ lifted a range of home loan, business and overdraft rates by 0.25%.<\/p>\n

The bank’s floating home loan rate rises from 5.79% to 6.04%, applying to new loans from Wednesday, July 15 and existing borrowers from July 29. <\/p>\n

The flexible home loan rate increases from 5.90% to 6.15%, effective July 29.<\/p>\n

The move comes as three other major banks \u2013 ASB, BNZ and Westpac \u2013 also lift their variable home loan rates by 0.25% per annum.<\/p>\n

Hikes follow the Reserve Bank’s first increase in the official cash rate (OCR)<\/a> in more than three years, announced last Wednesday. <\/p>\n

The Reserve Bank\u2019s warning more increases are likely as it battles to tame inflation. (Source: 1News)<\/p>\n

On the business side, ANZ’s term loan floating base rates move up from 4.10% to 4.35%.<\/p>\n

There is better news for savers as the premium interest rate on the Serious Saver account rises 0.25% to 1.75% from August 1, lifting the total available rate to 1.80% for customers who avoid withdrawals and deposit $20 or more each month. <\/p>\n

An ANZ spokesperson said interest rates would continue to be reviewed in response to international and local market conditions.<\/p>\n

“When reviewing interest rates, we consider a range of factors, including the impact on customers, the underlying cost of funds \u2013 including wholesale rate movements \u2013 and competitor activity,” they said.<\/p>\n

Other banks also hike<\/p>\n

The other three big banks have also hiked floating rates<\/a>.<\/p>\n

BNZ’s changes take effect from July 29 for both new and existing customers, with its standard variable rate rising to 6.09%, and three other variable rates all climbing to 6.19%. <\/p>\n

The bank is leaving its fixed home loan rates unchanged.<\/p>\n

Westpac’s floating home and business loan rates all rise 0.25% per annum, from Monday for new customers and next Thursday for existing customers.<\/p>\n

ASB lifted its housing variable rate to 6.04% and its Orbit variable rate to 6.14%, effective from Tuesday for new customers and Wednesday for existing customers. <\/p>\n

\"\"<\/p>\n

(Source: 1News)<\/p>\n

ASB executive general manager personal banking Adam Boyd acknowledged the increases would be difficult for some households.<\/p>\n

“Interest rate increases can be difficult for many households,” Boyd said.<\/p>\n

“We encourage any customers feeling any pressure with their mortgages to get in touch with us early to work through options.”<\/p>\n","protected":false},"excerpt":{"rendered":"Homeowners with the country’s biggest bank will pay more on their floating mortgages after ANZ lifted a range…\n","protected":false},"author":2,"featured_media":523454,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[138,219,42,43,814,40,38,41,39],"class_list":["post-523453","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-business","tag-economy","tag-headlines","tag-news","tag-property","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/523453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=523453"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/523453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/523454"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=523453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=523453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=523453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}