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ASB Mortgage NZ 2026 — Home Loan Rates, Products, and Application

Updated

ASB is one of New Zealand’s “Big Four” banks and a major mortgage lender. ASB is the retail banking arm of Commonwealth Bank of Australia (CBA) and is known for its technology and digital banking experience. Here’s what you need to know about ASB’s mortgage products and rates.

ASB Mortgage Rates (April 2026)

Rate typeIndicative rate
Floating (Orbit)~7.09%
6 months fixed~6.89%
1 year fixed~5.55%
2 years fixed~5.45%
3 years fixed~5.69%
4 years fixed~5.79%
5 years fixed~5.89%

Indicative carded rates as at April 2026. Actual rates change frequently — check asb.co.nz for current rates. Negotiated rates (especially via brokers) are typically better than carded.

ASB Mortgage Products

ASB Back My Build Construction loan product for building a new home. Progressive drawdowns during construction, transitioning to standard term loan on completion. See Construction Loan NZ for full detail.

ASB Fixed Rate Home Loan Fixed for 6 months to 5 years. ASB’s standard fixed rate mortgage. Break fees apply for early exit. Prepayment allowance: up to 5% of original loan per year without break fee.

ASB Orbit Home Loan (Floating) ASB’s floating rate mortgage. Linked to the ASB Orbit account, allowing additional deposits and withdrawals. Some offset functionality — savings in the Orbit account reduce the principal on which interest is charged.

ASB FastTrack Approval ASB’s conditional approval process via the app, allowing pre-approval in some circumstances without a full application — useful for buyers actively searching.

ASB Orbit Account: Offset Features

The ASB Orbit account provides limited offset functionality — balances in linked accounts reduce the effective interest charged. It is not a full offset like BNZ TotalMoney, but provides some benefit for borrowers who hold savings with ASB.

ASB Minimum Deposit Requirements

Borrower typeMinimum deposit
Owner-occupier (standard)20%
Owner-occupier (low equity)10–19% (limited, rate premium applies)
New build owner-occupier10%
First Home Loan5%
Investor (existing)35%
Investor (new build)20%

What ASB Requires for a Mortgage Application

Documents needed:

  • 3 months bank statements (all accounts)
  • 3 most recent payslips
  • Employment contract or confirmation letter
  • 2 years IR summary of earnings (self-employed: financial statements)
  • Photo ID (passport or driver’s licence)
  • Details of all assets and liabilities

ASB First Home Buyer Support

ASB participates in the Kāinga Ora First Home Loan (5% deposit) for eligible borrowers. ASB also offers:

  • Dedicated first home buyer team and appointment bookings
  • The ASB Home Central digital application process
  • Pre-approval certificate for buyers searching in the market

ASB vs Other NZ Banks

DimensionASB
Market positionNZ’s third-largest bank (by home loan book); strong Auckland presence
Rate competitivenessTypically in-line with major bank peers (negotiable)
TechnologyStrong digital experience; ASB app with mortgage management
Digital innovationStrong mobile banking and online application tools
ParentCommonwealth Bank of Australia (CBA)

Negotiating with ASB

ASB mortgage rates are negotiable:

  1. Contact ASB’s home loan team — specifically request a home loan specialist (not general branch staff)
  2. Get a competing quote — bring an offer from another bank in writing
  3. Ask about cashback — ASB offers cashback to refinancers periodically
  4. Use a broker — brokers typically access wholesale ASB rates not available to direct customers
  5. Compare the Orbit account rate — if you’re comparing floating vs fixed, the Orbit’s offset benefit may narrow the effective rate gap

Further Reading