Interest Rates

[primal]

BNZ do provide good rates but don't do they charge fees every month of whatever kind of loans you take.

[Judge]

No, have 70% of my lending (as in "a lot") with BNZ and pay no fees.

[PTILoveYou]

Once you have 700k+ loans with a particular bank, you can negotiate to have the monthly fees waived.

[hnz386]

Fixed rates - Kiwibank $500K

1yr 4.3%
2yrs 4.35%
3yrs 4.42%
4yrs 4.75%

Cashback $5000

[Rosco]

Fixed rates - Kiwibank $500K

1yr 4.3%
2yrs 4.35%
3yrs 4.42%
4yrs 4.75%

Cashback $5000

What about 5 year rate, and are you looking at some long term?

The Kiwibank rates advertised on www.interest.co.nz are above the rates you have put above, but when compared to other banks, your rates are around the same as the good rates advertised.

Ross

[Eugene]

I am going, pm me if you would like to catch up

[PTILoveYou]

Total Money is not available to businesses. Only on personal accounts

That must be a recent change, as I still have my main business account for my properties with BNZ as Total Money.

Beauty is the money in the business account offsets the small mortgage it is on

[primal]

Is it better to fix interest for 6 months rather than one year. Maybe in 6 months time the interest rate would have dropped more than now.

[Perry]

I'll let you know, just as soon as my crystal
ball comes back from the cleaners.

[Judge]

That must be a recent change, as I still have my main business account for my properties with BNZ as Total Money.

Beauty is the money in the business account offsets the small mortgage it is on

This is interesting Gary. I will ask my manager why some people seem to be able to get it on business account... may be interested am just not big enough customer :/

[PTILoveYou]

This is interesting Gary. I will ask my manager why some people seem to be able to get it on business account... may be interested am just not big enough customer :/

Maybe I was just lucky I got it when it first came out.

I remembered everytime i went to bnz branch they always ask me what am i doing with the cash on the account, but in fact it's just the loan sitting there undrawn!

[brendan]

This is interesting Gary. I will ask my manager why some people seem to be able to get it on business account... may be interested am just not big enough customer :/

TotalMoney is available to businesses. I have TotalMoney for my company and BNZ have a web page called TotalMoney for Business see https://www.bnz.co.nz/business-banki...y-for-business.

Perhaps you need to deal with someone else, like BNZ's Property Team - see https://www.bnz.co.nz/personal-banki...rty-investment for more details.

[Bluekiwi]

Jeremy in that team I know and have used before, he is very good, I have just emailed him to see if this will work for me.
Sometime you just have to catch them at that time of the year that the current bank policy favours what you want to do, as bank policy flip flops a lot.

[Judge]

Hmmm, this is very interesting. Sounds like I do need to talk to my manager. Thanks a lot for this brendan.

[Judge]

OK, i looked at the link posted by brendan. everything matches up. It is available for businesses, but not for businesses managed by BNZ Partners.

"TotalMoney is for small businesses with an annual turnover of less than $1 million, that are not managed by BNZ Partners.3"