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BNZ Home Loans

BNZ home loans are provided according to the customers demands and needs. BNZ is one of the oldest banks in NZ. It also has a history of serving the rural people such as farmers and providing finances to them. Since then, it assists the common man of NZ by providing financial help. BNZ home loan is provided to all the customers and its prospective customers who wish to avail a home finance for their house. It offers housing loan at very competitive interest rates and sees to it that each and every person in New Zealand is able to afford a house in the country. The BNZ bank five types of home loans.

Lets look at them one by one:

Various types of BNZ home loans

  • Tailored loan: With the help of tailored home loan you will have to pay a little more on interest rates on each month and then on each year. This in return helps you to pay off your housing loans at a faster rate than the decided period.
  • Table loan: Table loan includes a combined combination of interest and principal. Once you start paying more on interest, they become the principal amount.

  • Interest only loan: Payments will only cover only the interest rate. This will not make any reductions in the loan tenure so you will have to pay an interest rate till the loan term ends.
  • Reducing balance loan: In this housing loan you will have to pay off an initial balance at a higher rate. As time goes by, the payments starts reducing thus lowering the balance amount on your home finance.
  • Complete details on BNZ home loan can be obtained from their official website or even by calling the home loan department on their number 0800 275 269. The home loan officials will give you full details on the various kinds of home finance and the current interest rates applicable on the same. The do not charge anything for mere exchange of information. In case you want to apply for a BNZ bank home loan, you can fill in an application form available at the bank's center. You can also make use of the home loan calculator to calculate the estimated repayments.

    BNZ Home Loan Rates

    The interest rates charged by the BNZ bank are charged as low as 6.09% per annum as per current "TotalMoney" Floating Home Loan Interest Rates. However, the "Classic" fixed interest rates are charged at 6.55% per annum for a term of 18 months. The bank has maintained low rates so that all the people in the country are able to afford the low interest rates. BNZ home loans can be changed according to the bank's policies and requirements without giving any prior notice. Therefore, in order to know the current rates you can log on to their official website or call into their free helpline number 0800 275 269. The interest rates mentioned above are as per the last update on Thursday, 02 December 2010.

    BNZ Home Insurance

    For any sudden and accidental damage to your home, BNZ PremierCare Home Insurance protects your most cherished property, that is your dream home. It provides you with two types of coverage:-

    1. Actual replacement: If you like to rebuild your home regardless of the cost
    2. Sum insured replacement: The Cost of rebuilding is limited to the insured sum

    Other than the above benefits there are other benefits like protection of your house other than accidental and sudden loss, coverage in case of any earthquake, discounts to lower your premiums etc.

    BNZ Home Loan Calculator

    The BNZ home loan calculator is a very useful tool provided by the BNZ bank. With the help of the BNZ home loan calculator, you can now calculate the estimated repayments you will have to make on the housing loan availed. This calculator gives you a rough estimate of your repayments. On the basis of the results shown in the calculator you can decide whether to go in for a home finance or not. It is always better to think about the monthly expenses and the income before availing a home finance. This is because, after the home loan is availed, it should not become a burden on your financial expenditure. The calculator is very easy to use and calculate. You only have to enter the amount of housing loan you wish to avail and the loan tenure. The calculator will automatically calculate the estimated repayments.

    The link given below would take you to their official website and give more information on BNZ home loans http://www.bnz.co.nz/Home_Loans .

    Bank of New Zealand

    Home Loan Rates

    Home Loan Calculator

    Home Loan Application