Photo: RNZ / Marika Khabazi
BNZ is the latest major bank to trim its fixed retail home loan rates.
It has reduced interest rates on all of its classic home loans - where a customer has at least 20 percent equity - by between 16 and 30 basis points.
The popular two-year fixed rate saw the biggest drop to 6.49 percent.
The six-month rate dropped 19 basis points to 7.05 percent and the one-year rate was down 29 basis points to 6.85 percent.
The 18-month rate fell 24 basis points to 6.65 percent.
Kiwibank's cuts were marginally different but were down to the same levels as the BNZ.
Both banks cut their three-year rate by 26 basis points to 6.39 percent, and four-year and five-year rates fell by 16 basis points to 6.39 percent.
Westpac was the first to cut rates last week, followed by ANZ earlier this week.
It comes after wholesale interest rates moved lower following the Reserve Bank's monetary policy statement.