Interest-only calculator NZ
See what you'd pay while it's interest-only, what it rises to after, and how much more it costs overall.
What does a longer interest-only period cost?
Two years adds $16,442 to what you pay back, and five years adds $42,653. After five years of interest only, the repayment jumps to $808 a week.
| Interest-only for | Each week now | Each week after | Extra paid in total |
|---|---|---|---|
| None | $742 | $742 | $0 |
| 2 years | $576 | $765 | $16,442 |
| 5 years | $576 | $808 | $42,653 |
$600,000 over 30 years at 4.99% p.a., weekly, rate held. Sources: ANZ, ASB, TSB, checked 21 Oct 2026.
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What is an interest-only home loan?
You pay only the interest for a set time, so the loan doesn't shrink. When that time ends, repayments rise to pay it off over the years left.
How much more does interest-only cost?
Two years interest-only on $600,000 at 4.99% costs $16,442 more over 30 years; five years costs $42,653 more. The repayment is lower while it lasts, $576 a week against $742.
What happens when the interest-only period ends?
The repayment jumps, here from $576 to $765 a week, which is $23 a week more than if you'd paid it down from the start. Check you can afford the higher figure before you choose interest-only.
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