ASB mortgage rates NZ: how to read them and get a better deal
ASB mortgage rates are the advertised home loan rates ASB sets for each fixed term and its floating loans. The advertised rate is a starting point. What you actually pay depends on your deposit, your income and whether ASB or another lender is competing for your loan. An adviser can often get a sharper rate or a cash contribution, and we compare ASB with 30+ other lenders in one conversation.
ASB home loan rates as at 3 November 2026
| Term | Standard |
|---|---|
| Floating | 6.29% |
| 6 months | 4.79% |
| 1 year | 4.99% |
| 18 months | 5.29% |
| 2 years | 5.35% |
| 3 years | 5.59% |
| 4 years | 5.65% |
| 5 years | 5.75% |
Advertised rates, % p.a., as at 3 November 2026. Source: interest.co.nz. Check with ASB before you rely on them.
How to read ASB’s home loan rates
Banks usually show two sets of rates. “Special” rates are for borrowers with at least 20% equity. Standard rates, or rates with a low equity margin added, apply when your deposit is smaller. If you have under 20% deposit, check which rate actually applies to you before you compare.
Fixed rates lock your rate for a set term. Floating rates move with the market and let you pay extra without a break fee. Many borrowers split their loan across both. See fixed or floating for how to choose.
Is ASB the cheapest bank right now?
Sometimes, for some terms. The bank with the lowest headline rate on one term is rarely the lowest on every term, and rates change often. Compare the term you actually want, the cash contribution on offer and how long you must stay to keep it. Our guide to comparing home loan rates in NZ walks through it.
Can you get a better rate than ASB advertises?
Often, yes. Banks can sharpen rates or add a cash contribution for good applications, especially when another lender is competing for the loan. That’s the main reason people use a mortgage adviser: we take your application to several lenders at once, including ASB, and show you the full cost of each offer.
Thinking of switching to or from ASB?
If your fixed term is ending, that’s the cheapest time to move because there’s no break fee. Read home loan refinance to see whether switching is worth it, or mortgage break fees if you’re mid-term.
Want to know what ASB and 30+ other lenders would actually offer you? One free chat.
Compare my rate →Rates shown are ASB’s advertised rates at the date stated and can change at any time. This article is general information only and isn’t personalised financial advice. Mortgage Sense is a trading name of Yatin Kainth, a Financial Adviser (FSP1007497) providing advice under the Mortgage Managers licence (North West Group Holdings Ltd, FSP682791). See the Disclosure Statement.
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