Bank of New Zealand

If you’re wondering what it takes to qualify for a business loan, BNZ’s Small Business Partner Gajan Balakrishnan G FIN is here to help! Eligibility for a business loan depends on several factors, like your business’ financial health, credit history, and the purpose of the loan. Generally, we will review your business’ financial statements, tax returns, and business plan. If your business is relatively new, your personal credit score may play a larger role. Small Business Partners can guide you through the process and help make sure you have the information you need to improve your chances of approval. Have more questions? Let us know in the comments. 

The Reserve Bank announced today it’s cut the Official Cash Rate to 4.25%, down 50 basis points. Here’s BNZ Chief Economist Mike Jones with the latest on today’s OCR announcement.

With the recent OCR cuts (and ahead of next week’s OCR announcement) our General Manager Corporate Banking and Agribusiness, Dave Handley spoke to Newsroom about how the shift in direction from the Reserve Bank provides confidence and optimism to corporate businesses looking to grow.

Last week New Zealand’s newest can manufacturer, Recorp NZ, officially opened its doors. We’re proud to be part of Recorp’s ambitious project, a startup of epic proportions. Congratulations to the whole Recorp team on this impressive milestone! Ben Fahey Geoff Stewart Dave Handley Penny Ford Dan Huggins Bruce Parton Rob Fyfe Richard Edwards Damian Peterson Martin Quinn Michelle Chester Guy Jolly Emily Toomey (Gilbert) Ty Ngo Raj Gooptu

Introducing Payap: A new era in New Zealand payments 🚀 We're excited to announce Payap, a digital wallet and payment app that streamlines both sides of every payment - making it easier and cheaper for businesses to accept payments, while giving their customers a simpler way to pay and manage money. For businesses, Payap delivers: - In-store fees of just 0.39% - less than half the typical merchant service fee - E-commerce fees 80% cheaper than many other providers - Powerful features including the ability to launch loyalty programs and get smart sales insights - Quick, simple setup with existing payment terminals. For consumers, it will bring banking, payments, and loyalty into one simple app: - Pay without a wallet in-store or shop seamlessly online - Manage accounts from any NZ bank in one place - Send money instantly to friends - Track spending and earn rewards automatically. Powered by NZ fintech Centrapay and backed by BNZ, Payap represents a significant step forward in open banking innovation. Businesses can register now, with the full consumer app coming in March 2025. Learn more: https://lnkd.in/gZ4efAp8

It’s Cyber Smart Week and CERT NZ has a great resource to help you protect yourself, friends, whānau, or your business from cyber threats. Check it out at www.ownyouronline.govt.nz.

We’ve just wrapped up the BNZ Auckland Diwali Festival, with crowds of whānau and friends coming together to celebrate the festival of lights ✨ What an incredible turnout over the weekend with two jam-packed days of delicious food, crafts, brilliant performances, henna, yoga, rangoli, and an amazing fireworks display to close 🎇 A big THANK YOU to all the BNZers who helped with Diwali over the weekend. From our teams behind the scenes coordinating all the moving parts, to the teams hosting guests and helping in and around the crowd! Your collective mahi truly made for a spectacular festival. Wishing you a bright and joyful Diwali 🪔 शुभ दिवाली Happy Diwali! Namaste

Introducing our latest tool to combat scammers: online banking lock 🔒 At BNZ, we're constantly looking for new ways to combat scammers and enhance protection for our customers. This new feature lets customers disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts. While anyone who suspects they’re the victim of a scammer should always call their bank immediately, this new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re making the call, potentially speeding up the process to lock their accounts and shut scammers out. To prevent scammers from regaining access, customers will need to verify their identity at a BNZ branch to get back into their accounts. 🔹 Customers will still be able to use their cards online, instore, and at ATMs while their account is locked. 🔹 To minimise disruption, scheduled payments, like rent or mortgage payments, will still go out as scheduled. For more information, visit our website https://lnkd.in/gFtX9EFN #ScamSavvy

📢 Our home loan floating interest rates are dropping 0.50% p.a. effective tomorrow 📉 We sat down with BNZ GM of Home Lending James Leydon and GM of Everyday Banking Louisa Powell to discuss the latest Official Cash Rate announcement and what this means for homeowners and savers. This post contains general information only, not professional advice. BNZ is not liable for any losses resulting from this post. All BNZ home loans are subject to our lending criteria (including minimum equity requirements), terms and fees. Floating rates can change at any time, including after you enter into your contract.

We are proud to announce an expanded funding framework that opens new doors for Māori home ownership on whenua Māori (Māori freehold land). 🌿 Māori freehold land covers about 1.4 million hectares – 5% of New Zealand's land area. 🔑 Individuals and whānau who meet BNZ’s standard home lending criteria can now secure home loans for housing on Māori land managed by trusts or incorporations. 📊 Loans are available at standard home loan interest rates. This initiative helps to address the longstanding challenges in financing homes on collectively-owned Māori land, aligning lending practices with the specific nature of Māori freehold land ownership. It’s about enabling home ownership opportunities while ensuring the land remains a taonga tuku iho—a treasure passed down through generations. Whetu Rangi, our Head of Māori Business, says, "It's about more than just providing loans; it's about empowering our people to create sustainable, thriving communities on their whenua." Learn more about this initiative on our website https://lnkd.in/gbbm5KNk