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Lending Terms and Conditions

All lending services are subject to the Bank's current lending assessment criteria, interest rates and contract terms. Fees and costs for Consumer Credit lending are subject to the provisions of the Credit Contract and Consumer Finance Act 2003.

The interest rate will be in terms of the loan contract as entered into between the Borrower and the Bank.

The standard application fee is $250 but may vary with special lending offers as specified by the Bank. An interest rate margin may apply for loans in excess of 80% of valuation, and early repayment penalties may apply to any portion of a fixed rate loan. A Revolving Credit facility Monthly Management fee or an individual Draw-down fee, applies.

Loans up to 85% of valuation are available. (Conditions apply)

Special Offer

From time to time the bank will advertise a special home loan offer. The terms and conditions for each offer may vary. To find out if you qualify you will need to call TSB Bank Direct and ask a consultant for the offer details.

Current lending and assessment criteria will apply. Interest rates and special offers are for a limited time only and are subject to change. Offer available to direct applicants and new business only. Not available for loan restructures, bridging loans, increases to revolving credit facilities or whereby the borrower has any arrears in excess of 30 days, commercial or rural properties and Welcome Home Loans.

Welcome Home Loan Conditions

All lending services are subject to TSB Bank Ltd's current lending assessment criteria, interest rates and fees.

Loans up to 90% of valuation are available. (Conditions apply)

A $250 Application fee and a Lender's Mortgage Insurance Premium fee of 1% of the loan amount will apply. This can be added to the loan. A minimum 10% deposit is required for all loans.


  • must not currently own a home
  • must live in the home they purchase, for the life of the loan
  • must be a permanent New Zealand Resident or a New Zealand Citizen
  • must have an acceptable credit history and be able to meet loan repayments

The home you purchase must be a residential or rural zoned property that meets the following criteria:

  • Established house on a single section less than 1 hectare, serviced by road, power and water
  • Freehold property including cross lease and unit titles; or, a leasehold property which is perpetually renewable. The next right of renewal and the date upon which the lease rent is reviewed should be at least 5 years from the date of approval.

Each unit title property must meet the following criteria:

  • Minimum floor size of 50 square meters (excluding balcony, cark park and external stairs and any common areas).
  • Existing property that has previously been occupied.
  • Purpose built for residential occupation (not a conversion).
  • Common area is limited to driveways and grounds.
  • Self contained (no shared facilities such as kitchens, bathrooms and laundry).
  • No more than 20 dwellings in the complex.
  • Own individual entry/stairs/access.
  • Not in a multi-level building (but being able to be in:
    • (a) a two level complex, or
    • (b) a three level complex if a single unit title is all three levels)
  • Registered valuation report (as specified below) required for all properties.

Types of properties not eligible:

  • commercial or industrial property
  • special rural property - i.e. farms or vineyards
  • units in a hotel/motel, a retirement complex, or a serviced complex
  • mobile homes
  • hotel/motel conversions
  • flat-owning company share properties
  • Maori land
  • houses for relocation
  • multi-level complexes with shared access
  • moveable leisure homes

The Welcome Home Loan is not available for bridging finance, refinancing or debt consolidation loans.