| Lender | Floating | 6M | 1Y | 18M | 2Y | 3Y | 4Y | 5Y |
|---|---|---|---|---|---|---|---|---|
| Indi | 4.59 | |||||||
| ANZ | 6.29 | 4.79 | 4.99 | 5.29 | 5.35 | 5.59 | 6.39 | 6.49 |
| ASB | 6.29 | 4.79 | 4.99 | 5.29 | 5.35 | 5.59 | 5.65 | 5.75 |
| BNZ | 6.34 | 4.89 | 5.19 | 5.29 | 5.35 | 5.59 | 5.65 | 5.75 |
| Kiwibank | 6.25 | 4.85 | 5.15 | 5.39 | 5.59 | 5.79 | 5.89 | |
| Westpac | 6.39 | 4.89 | 5.19 | 5.45 | 5.29 | 5.59 | 5.65 | 5.75 |
*Bank rates are a live feed from mortgages.co.nz, and are only a guide. Advertised rates may be specials, may carry LVR or owner-occupier requirements, and may not be available to everyone.
Everything happens online, from your first click to settlement. Here's how it goes.
Answer a few questions from the couch. No branch visits, no appointments.
We review your application and let you know online, fast.
We pay for the lawyer and handle the paperwork, all online.
Your loan moves across to Indi, on our floating rate.
Pay extra, change your repayments, or move on whenever you like. No lock-in, no fees for anything.
Answer a few questions from the couch. No branch visits, no appointments.
A fast answer, so you can make your offer with confidence.
Your own lawyer handles the sale and purchase agreement. We keep pace with your deadline.
Your Indi loan is ready when the keys are.
Pay extra, change your repayments, or move on whenever you like. No lock-in, no fees for anything.
A quick check before you start. Tick these boxes and the application takes about 15 minutes.
Free to rethink mortgages, without the big bank baggage.
Apply, get your decision and settle, all from the couch.
New Zealand owned, so the profits stay in New Zealand.
You bank on your phone, pay with your watch, and haven't seen a teller in years. Yet your mortgage rate still pays for brick-and-mortar branches, people and marketing, plus chunky profits, most of which flow to Australian owners.
Indi is independent, streamlined and fully digital, so we don't carry those costs. We pass the difference straight to you as a lower floating rate.
"Digitally savvy Kiwis shouldn't pay the price for banks stuck in the past."
Our floating rate, set against what the banks advertise.
Source: Indi, RBNZ
Indi made refinancing so easy. They provided great service through every step without having to leave the comfort of my own home.
MikeWellingtonIndi is a refreshing experience. It's great dealing with a lender who sees you as a valued customer rather than just a number at a regular bank.
JessWellingtonIndi provides the perfect mortgage. Cheapest rate that drops as interest rates drop, plus flexibility to pay it down or borrow more when we need.
RichardWoodsideIndi have provided a simple and seamless process for obtaining a mortgage. From the online application, the short turnaround for approval through to the well designed website that provides a user friendly experience.
DeborahRichmondYes, it's 100% safe. Your mortgage is held in a trust that is separate from Indi and overseen by an independent trustee: NZ Guardian Trust (NZGT). This means that should anything ever happen to Indi, NZGT will administer your mortgage. NZGT are a trusted supervisor overseeing over $300B in assets, Kiwisaver and investment schemes.
We work with trusted partners including Generate, one of NZ's leading KiwiSaver providers, who have undertaken due diligence on Indi.
And, for peace of mind, you can refinance from Indi to a bank at any time without penalties or costs. But we don't think you will ever want to go back!
To qualify for an Indi loan, you'll need to meet certain criteria including:
At the moment, we provide floating rate table loans. We don't offer fixed rates or provide revolving credit or offset loans at this time.
Yes, Indi will issue a pre-approval and a mortgage for new property purchases.
However, unlike refinances, Indi won't pay for the lawyer for this transaction. You'll need to find and pay for your own lawyer.
If your mortgage is split into multiple loan portions (e.g. one or more fixed terms and/or some on floating), this all makes up a single mortgage, secured by the security property. You cannot switch just a single loan portion, you need to refinance your whole loan.
If you have multiple properties mortgaged, you can bring one across to Indi and leave the others at your bank, as long as the remaining properties are acceptable to your bank.
It shouldn't cost anything for refinances. We pay for a lawyer to do the legal transfer of the mortgage, and usually we do not require a registered valuation, so there is no cost to switching to Indi.
You can sign up for early access here. We will review your details, so we can see if Indi will be a good fit.
Once approved for early access, you can apply online in as little as 10 minutes. We have a panel of lawyers who will do the conveyancing (to handle the legal work involved in transferring the mortgage), avoiding the need to use your own lawyer. We cover the cost of conveyancing if you use a panel lawyer, saving you money.
We just need some information about your properties, income and expenses.
You'll need to connect your bank accounts to your application, so that we can assess your application.
Once your application is approved, you'll need to verify your identity, upload some documents about your properties and insurance. We will then assign your application to one of our lawyers and create your loan contracts.
We provide a lawyer (at no cost to you) to transfer the mortgage and review the loan contracts with you.
If you've got all the information about your properties, income and expenses handy, an application takes about 10-15 minutes to complete.
We save all the information in your application until it's submitted, so that you can always come back to your application if you don't have all the information with you.
Once your application is completed and we have all the required information, we aim to get back to you within 24 hours with a decision on whether your loan has been approved.
Our floating rate is a variable interest rate that can change over time, which means your repayments may increase or decrease over the life of your loan.
When wholesale rates change (e.g. the OCR - Official Cash Rate set by the Reserve Bank) then this is likely to cause a change to Indi's interest rate.
Your repayments will adjust in line with the current floating rate. If the rate increases, your repayments may go up; if it decreases, your repayments may go down.
You can set your payments to automatically adjust or to keep them the same by changing the date when your mortgage will be paid off (e.g. paying your mortgage off faster if rates decrease, or setting a later date if rates go up (subject to the maximum term of your mortgage, usually 30 years).
If your current payments already meet the new minimum payments required, then no change to your payments is needed.
A floating rate mortgage is a home loan with an interest rate that varies over time depending on market conditions. For example the floating rate may go down if the Reserve Bank cuts the OCR rate (and vice versa if they increase the rate).
If the interest rate changes, you can choose to keep your payments the same (provided they meet the minimum payment requirements) or change your payments.
A key benefit of a floating rate mortgage is that it gives you a lot of flexibility to change your payments. For example you could repay your loan faster without any limits or penalties. You can also change your regular repayments up/down (provided you meet the minimum payments) or make one-off repayments at any time.
Yes, Indi specialises in floating rate mortgages, providing flexible, variable interest rate loans designed to adapt to changing market conditions.
