Better Future home loan top-ups

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

How to apply

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How it works

Eligibility

You can apply for a Better Future home loan top-up^ for eligible upgrades, such as home insulation, ventilation, and heating. It also can be used for upgrading to an electric vehicle (EV), plug-in hybrid electric vehicle (PHEV), or hybrid electric vehicle.

Special pricing

The special pricing of 1% p.a. will only apply to the top-up for the initial fixed term period of 3 years. 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 Better Future home loan top-ups for further eligible upgrades. However, the cumulative lifetime 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 hybrids

New or used electric vehicle (EV), plug-in hybrid electric vehicle (PHEV), or 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: you provide a quote. We recommend carrying out due diligence before making any decisions or doing any installation work. This includes consulting with a licensed electrician and installer.
For electric vehicles (EV), plug-in hybrid electric vehicles (PHEV), or hybrid electric 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 Better Future home loan top-up through Internet Banking or the BNZ app.

Internet Banking

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 Better Future home loan top-up together.

If you have an equivalent healthy home top-up with another New Zealand bank, you may be able to include it for refinancing to BNZ as a Better Future home loan top-up.^ Contact us for more details on the eligibility criteria and how the special pricing of 1% p.a. would work in these instances.