Business loan rates in New Zealand are a critical aspect of financing options for businesses of all sizes. Obtaining funding through loans can be a significant source of capital for businesses to finance their growth, investments, and operations. Interest rates on business loans vary widely depending on the type of loan, the lender, the borrower’s creditworthiness, and the underlying security for the loan. Understanding the different business loan products and their associated interest rates is essential for businesses to make informed financing decisions. In this context, we have compiled a table of some of the leading New Zealand banks and financial institutions offering various types of business loans, along with their respective interest rates and associated fees.
Business Loan Interest Rates
Institution | Product | Type | Security | Base rate % pa | Lenders Margin % pa | Mgmt fee % flat | Total % pa |
---|---|---|---|---|---|---|---|
ANZ | Corporate Indicator rate | Variable | ? | 7.38 | ? | ? | ? |
Business Bank Indicator rate | Variable | ? | 13.20 | ? | ? | ? | |
Business Overdraft | Variable | ? | 15.20 | 1 to 5 | 1.44 | 17.64 – 21.64 | |
Agri Current account | Variable | ? | 11.40 | ? | ? | ? | |
ASB | Business Lending Base Rate | Variable | ? | 12.87 | 1 to 5 | 1.44 | 15.32 – 19.31 |
Rural base rate | Variable | ? | 10.11 | ? | 1.00 | ? | |
Corporate Indicator rate | Variable | ? | 7.28 | ? | 1.00 | ? | |
BNZ | Business Overdraft | Variable | ? | 12.00 | 1 to 5 | 1.80 | 14.30 – 18.30 |
Cash Flow Funding | CFF Overdraft | Variable | Business assets | 10.50 | 0.00 | 0.00 | 10.50 |
Fuelled | Invoice funding via Xero | Flexible | Unsecured | 15.00 | 0.00 | 12.00-48.00 | 27.00-63.00 |
Heartland | Business Funding | Variable | ? | 10.00 | 1 to 5 | 1.44 | 12.44 -16.44 |
Kiwibank | Business Overdraft Rate | Variable | ? | 7.50 | 1 to 5 | 1.20 | 9.70 – 13.70 |
Business Home Equity Rate | Variable | ? | 6.15 | ? | ? | ? | |
Zip Business | Business Loan, P&I | Variable | Unsecured | 6.0-40.0 | 0.00 | 2.00-3.00 | 8.0-43.0 |
Westpac | Overdraft more than $5,000 | Variable | ? | 13.95 | 1 – 5 | 1.20 | 16.15-20.15 |