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At Heartland Bank, we’re on a mission to improve the lives of Kiwis by making money work for them. We believe banking shouldn’t be hard. We’re always working to integrate innovative new technology that enables you to live and bank the way you want.

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Heartland drops floating home loan rate to 2.50% p.a.

Heartland has lowered its already low floating home loan rate to 2.50% p.a. – the lowest floating rate offered by a bank in New Zealand.

The leading floating rate amongst banks follows Heartland’s recent re-entry into the home loans market with New Zealand’s lowest fixed term mortgage rates (1.99% p.a. 1-year fixed, 2.35% p.a. 2-year fixed, 2.45% p.a. 3-year fixed).

“Customers shouldn’t have to pay so much for their floating home loan – nor should they have to take time from their busy day to go to the bank or meet with a mortgage manager to refinance their home,” explained Heartland Group CEO Jeff Greenslade. “By digitalising the application process, we can save our customers time and money.”

Heartland’s online Home Loans platform allows customers to apply and receive approval without needing to make an appointment, visit a broker, or arrange a house call.

The low floating rate isn’t the only feature that has changed.

“We’ve learnt a lot from our customers since re-entering the market in October and have made changes to expand our approval criteria. Customers refinancing at our floating rate are also eligible for a $750 credit.”

The New Zealand owned and managed bank has been helping New Zealanders with their finances since 1875, but it prides itself on being different from other banks.

“Heartland’s group structure provides us with broader funding flexibility,” said Greenslade. “Alongside our digital strategy, we’re able to offer products through innovative channels at a lower cost, and can pass that onto the borrower.”

To be eligible for Heartland Home Loans, customers must be refinancing or purchasing a standalone house on a single section, have a deposit or equity of at least 20% and live or intend to live in the home. A credit of $750 is available for customers who refinance their home loan to Heartland and take out a loan on the floating rate for at least 12 months (subject to clawback).

Find out more and apply online at


Heartland Bank’s responsible lending criteria, terms, conditions and fees apply. Interest rates are subject to change. The $750 credit for refinance on the floating rate is subject to clawback if the customer moves to a fixed rate or leaves Heartland before the end of the 12-month term.

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