This data shows the interest income earned by banks as a percentage of the value of their loans, including fixed and floating rate loans.

Housing lending | Business lending | |||
---|---|---|---|---|

Date | Yield on residential mortgage loans (Total)^{1} |
Yield on residential mortgage loans (Floating)^{2} |
Yield on residential mortgage loans (Fixed)^{3} |
Yield on total business loans^{4} |

Previous years: | ||||

Nov 2020 | 3.42 | 3.75 | 3.37 | 3.27 |

Nov 2021 | 2.86 | 3.68 | 2.76 | 3.36 |

Monthly: | ||||

Dec 2021 | 2.94 | 3.82 | 2.83 | 3.46 |

Jan 2022 | 2.98 | 3.85 | 2.87 | 3.53 |

Feb 2022 | 3.05 | 3.84 | 2.94 | 3.61 |

Mar 2022 | 3.14 | 3.93 | 3.04 | 3.74 |

Apr 2022 | 3.21 | 3.95 | 3.11 | 3.93 |

May 2022 | 3.36 | 4.32 | 3.23 | 4.23 |

Jun 2022 | 3.51 | 4.53 | 3.37 | 4.56 |

Jul 2022 | 3.68 | 4.67 | 3.54 | 4.89 |

Aug 2022 | 3.83 | 4.99 | 3.68 | 5.22 |

Sep 2022 | 3.95 | 5.34 | 3.78 | 5.52 |

Oct 2022 | 4.07 | 5.46 | 3.89 | 5.85 |

Nov 2022 | 4.19 | 5.76 | 4.00 | 6.10 |

Yields on loans and costs of deposits at the end of the month for registered banks.

Monthly.

We publish data approximately five weeks after the end of the reference month.

We release data on our Statistics page

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it on the first working day of the month.

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We collect data under Section 36 of the Reserve Bank of New Zealand Act 1989 (the Act).

Read the Reserve Bank of New Zealand Act 1989

We publish only aggregated data. Individual institutional data is confidential.

We generally publish revisions when we update and release the next table. Should we need to make revisions more promptly, we will post a special note on the website.

We post any major changes in methodology on the website as a special note.

A copy of the Income statement survey template and definitions is available.

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Interest.co.nz publishes mortgage interest rates for a range of terms.

The monthly yield on residential mortgage loans (total) is a weighted average yield on the total of all types of loans (floating and fixed) for registered banks fully secured on residential property. We calculate it using the sum of each bank’s interest income received for both floating and fixed residential mortgage loans compared to the sum of a 2-period moving average of the value of these loans. Using a 2-period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised. Each yield is calculated as follows:

Yield = (*The sum of each bank's interest income received on loans* / *The sum of a two period moving average of the value of loans*) X (365 / *number of days in a month*) X 100

The monthly yield on residential mortgage loans (floating) is a weighted average yield on the total of all floating rate loans for registered banks fully secured on residential property.

We calculate it using the sum of each bank’s interest income received for floating residential mortgage loans compared to the sum of a 2-period moving average of the value of these loans. Using a 2-period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See ‘Yield on residential mortgage loans (total)’ above for the calculation formula.

The monthly yield on residential mortgage loans (fixed) is a weighted average yield on the total of all fixed rate loans for registered banks fully secured on residential property.

We calculate it using the sum of each bank’s interest income received for fixed residential mortgage loans compared to the sum of a 2-period moving average of the value of these loans. Using a 2-period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See ‘Yield on residential mortgage loans (total)’ above for the calculation formula.

The monthly yield on total business loans is a weighted average yield on the total of all business loans for registered banks (not fully secured by residential property).

We calculate it using the sum of each bank’s interest income received for total business loans compared to the sum of a 2-period moving average of the value of these loans. Using a 2-period moving average for the value of loans takes into account that not all loans at the end of the reporting period would have contributed to the interest income over the reported month.

The yield takes into account the number of days within each month and is annualised.

See Yield on residential mortgage loans (Total) above for the calculation formula.

The monthly cost of total deposits is a weighted average cost on the total of savings (call) accounts and term deposits for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for both savings (call) accounts and term deposits compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised. Each cost is calculated as follows:

Cost = (*The sum of each bank’s interest expenses paid on bank deposits* / *The sum of a two period moving average of the value of deposits*) X (365 / *number of days in a month*) X 100

The monthly cost of savings (call) accounts is a weighted average cost on the total of savings (call) accounts for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for savings (call) accounts compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised.

See Cost of total deposits above for the calculation formula.

The monthly cost of term deposits is a weighted average cost on the total of term deposits for registered banks.

It is calculated using the sum of each bank’s interest expenses paid for term deposits compared to the sum of a two period moving average of the value of these deposits. Using a two period moving average for the value of deposits takes into account that not all deposits at the end of the reporting period would have contributed to the interest expenses over the reported month.

The cost takes into account the number of days within each month and is annualised.

See Cost of total deposits above for the calculation formula.

Symbol or convention | Definition |
---|---|

0 | Zero or value rounded to zero |

- | Not applicable |

.. | Not available |

bold |
Revised/new |

italics |
Provisional |

Light grey background | Historical |

- Individual figures may not sum to the totals due to rounding
- Percentage changes are calculated on unrounded numbers
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