BNZ's sleight-of-hand $20k cashback offer for new mortgages

BNZ's sleight-of-hand $20k cashback offer for new mortgages
(Image: Deposit Photos)
Staff reporters
In another sign of how competitive the mortgage market is becoming as the volume of lending drops, the Bank of New Zealand (BNZ) is offering new mortgage customers up to $20,000 back in cash.The offer trumps the government-owned Kiwibank’s offer in early June of up to $10,000 cash to new mortgage customers, which expired in late June.However, both banks' offers are up to 1% of each loan back in cash. The National Australia Bank-owned BNZ is capping its offer at double Kiwibank’s.Given that few customers of either bank are likely...

More Finance

Nothing to see here – Aussie regulator slams ANZ
Finance

Stock & Trade: Nothing to see here – Aussie regulator slams ANZ

FMA confirms eight complaints over NZ bond trading, but no action was taken.

Life insurance market shrinks
Finance Risky Business

Life insurance market shrinks

Foreign firms dominate as affordability, tax and access barriers stymie growth.

Michael Neilson 18 Sep 2025
Craigs beefs up in Hawkes Bay, eyes further expansion
Finance

Craigs beefs up in Hawkes Bay, eyes further expansion

Craigs looks to further expansion as it confirms the Somerset Smith Partners deal.

Staff reporters 18 Sep 2025
Court funding miss ‘undermines market confidence’
Finance

Court funding miss ‘undermines market confidence’

Plenary and Infrastructure NZ wrote to ministers over PPP ‘disappointment’.

Oliver Lewis 17 Sep 2025