BNZ Green Home Loan top-ups

You could borrow up to $80,000 at a 1% p.a. 3 year fixed rate to pay for eligible upgrades to your home or for electric transport options.

How to apply

How it works

Eligibility

You can apply for a BNZ Green Home Loan top-up^ for eligible upgrades, such as home insulation, ventilation, and heating - or upgrading to an electric vehicle (EV) or plug-in hybrid electric vehicle (PHEV).

Special pricing

The special pricing of 1% p.a. will only apply to the top-up for the initial 3-year fixed term period. After this time, the loan can be re-fixed, or our floating home loan rate will apply.

Maximum amount

You can apply to take out multiple BNZ Green Home Loan top-ups for further eligible upgrades, however, the amount you can borrow at the 1% p.a. rate will be capped at $80,000.

Upgrade your home

You could make your home warmer and more energy-efficient with these eligible upgrades.

Renewable energy

  • Solar panels, batteries, and inverters (including related costs for planning and installation).

Heating and insulation

  • Heat pumps - fixed or ducted heat pump systems.
  • Water heating - heat pump water heaters or solar water heaters.
  • Insulation - ceiling, wall, or underfloor insulation.
  • Window glazing - double, secondary or triple glazing.
  • Ventilation - positive or balanced pressure ventilation systems

Water tanks

  • Rainwater tanks - home water tanks (including related parts like pumps, connections, and filters).

Upgrade your transport options

You could reduce your carbon emissions with these eligible upgrades.

EVs or plug-in hybrids

New or used electric vehicle or plug-in hybrid electric vehicle. 

Electric chargers

Portable or wall mounted electric vehicle chargers.

Electric bikes

New or used electric bikes.

What you’ll need for your application

We’ll need to see proof that the loan will cover the cost of the upgrade (including the deposit, if applicable) as part of your application. Before we can approve the loan, we’ll need to be satisfied with the proof in all respects. Any quote must still be valid at the time it’s provided to us.  

  • For solar panels and solar batteries: a quote provided by a member of the Sustainable Energy Association of New Zealand (SEANZ), and an installation date.
  • For electric and plug-in hybrid vehicles: a purchase agreement from a registered motor vehicle trader.
  • For e-bikes: a quote provided by a business that offers e-bikes as a normal part of their business.
  • For all other upgrades: a quote for both the supply and installation from a qualified business that supplies and installs the solution as a normal part of their business, and an installation date.

How to apply for a top-up

If you have a home loan with us, you can apply for a BNZ Green Home Loan top-up through Internet Banking or the BNZ app.

BNZ app

Log in to the BNZ app and tap the menu icon (three horizontal lines in the top left corner). Select Apply now, tap Loans, and choose Apply for a home loan top-up.

Move your home loan to us

You can apply for a BNZ home loan and a BNZ Green Home Loan top-up together.

Subject to lending criteria (including minimum equity requirements), terms and fees. An establishment fee of up to $150 for new customers may apply. For existing customers, a top-up fee of up to $100 may apply.

Must be a BNZ Standard home loan. The Green Home Loan top-up rate is only available when you have at least 20% equity in the property provided as security. This rate is not available for some investor lending. For residential property investors, more equity may be required where Reserve Bank minimum equity restrictions apply. 

Not for business purposes or restructuring existing lending, and may not be used towards any portion of the eligible upgrade already paid for at the time of drawdown. Not for BNZ customers with Housing Under Construction lending unless the loans have been fully drawn. Not eligible for any cashback. This rate may not apply to some packaged offers. Early repayment charges may apply. Offer, interest rate, and fees subject to change.

BNZ is not responsible for the quality of any eligible upgrade.

After the initial 3-year fixed rate term, the loan can be refixed, or BNZ’s home loan floating interest rate will apply.

References to third party websites are provided for your convenience only. BNZ accepts no responsibility for the availability or content of such websites.

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