NZ Home Loan Calculator
Updated on 20 Oct 2026 · Checked by Aotob
You repay about NZ$1,723 a fortnight.
That is for a NZ$850,000 home with NZ$170,000 deposit at 5.2% over 30 years. Over the loan you pay NZ$663,573 in interest. Monthly repayments would be NZ$3,734.
Repayment every fortnight
NZ$1,722.53/fortnight
Your deposit and income are inside the Reserve Bank’s usual limits (20% deposit, under 6 times income).
Show the working
Loan = 850,000 − 170,000 = 680,000
rate per fortnight = 5.2% ÷ 26 payments = 30 × 26 = 780
Repayment = P × i ÷ (1 − (1+i)^−n) = 1,722.53
Repayments at other rates
| Rate | Weekly | Fortnightly | Monthly |
|---|---|---|---|
| 4.2% | 767 | 1,534 | 3,325 |
| 4.7% | 813 | 1,627 | 3,527 |
| 5.2% | 861 | 1,723 | 3,734 |
| 5.7% | 910 | 1,821 | 3,947 |
| 6.2% | 960 | 1,921 | 4,165 |
Questions people ask
How much deposit do I need in New Zealand?
Most banks want 20% for a home you will live in. The Reserve Bank lets them lend up to 25% of new owner-occupier loans with less than 20% deposit (from 1 December 2025), usually with a higher rate or fee. New builds are exempt.
What is the debt-to-income limit?
Since July 2024 banks can make only a fifth of owner-occupier loans above 6 times the borrowers’ combined income before tax (7 times for investors). Most loans stay below that.
Are fortnightly payments cheaper?
A little. Interest is charged on a lower balance more often, so fortnightly repayments cost slightly less interest over the loan than monthly ones at the same rate.
Updated 20 Oct 2026Source: Reserve Bank of New Zealand LVR and DTI restrictionsChecked by AotobAn estimate, not financial adviceReport an issue