Is ANZ or ASB better for business loans?

ANZ is better for larger businesses needing $100K+ with complex needs and industry-specific expertise. ASB is better for SMEs wanting faster approval, digital tools, and relationship-focused banking. Both offer competitive rates of 8-12% p.a. for established businesses.

What are ANZ and ASB business loan rates in 2026?

Both ANZ and ASB offer business loan rates from 8-14% p.a. depending on loan type, amount, and business profile. Secured loans start around 8-10%, unsecured loans 12-14%. Equipment finance is typically 7-12% at both banks.

How long does ANZ vs ASB take to approve business loans?

ASB is generally faster with 5-10 business days for standard applications. ANZ typically takes 7-14 business days. Complex applications at either bank can take 2-4 weeks. Neither offers same-day approval like alternative lenders.

ANZ vs ASB Business Loans

Name: SME Loans NZ
Address: NZ
Price range: $

Independent comparison of New Zealand's two largest banks for business lending

Quick Verdict:

Choose ANZ if you need large loans ($100K+), have complex business needs, or want industry-specific expertise. Choose ASB if you want faster approval, better digital banking tools, or prefer relationship-focused service for SMEs. Both offer similar rates (8-14% p.a.) but differ in approach and strengths.

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ANZ vs ASB: Side-by-Side Comparison

Feature	ANZ	ASB
Interest Rates	8-14% p.a.	8-14% p.a.
Loan Amounts	$20,000 - $10M+	$10,000 - $5M+
Approval Time	7-14 business days	5-10 business days
Min Business Age	2 years preferred	1 year minimum
Min Revenue	$100,000+ typical	$75,000+ typical
Establishment Fee	0.5-1.5%	0.5-1%
Digital Banking	Good	Excellent
Branch Network	Extensive NZ-wide	Good NZ-wide
Ownership	Australian (ANZ Group)	Australian (CBA)

ANZ Business Loans

Strengths:

Largest business bank in NZ
Industry-specific relationship managers
Higher loan limits ($10M+)
Strong international trade finance
Comprehensive business packages

Weaknesses:

Slower approval process
Higher minimum requirements
More paperwork required
Less flexible for small businesses

Full ANZ Review →

ASB Business Loans

Strengths:

Faster approval times
Better digital banking tools
More SME-friendly approach
Lower minimum requirements
Strong customer service reputation

Weaknesses:

Smaller maximum loan amounts
Less industry specialization
Fewer international options
Limited complex lending solutions

Full ASB Review →

When to Choose ANZ

✓ You need a loan over $500,000
✓ Your business has complex financial needs
✓ You want industry-specific relationship managers
✓ You need international trade finance
✓ You're an established business (2+ years)

When to Choose ASB

✓ You need faster approval (under 2 weeks)
✓ You're a smaller SME with simpler needs
✓ You value digital banking tools
✓ Your business is 1-2 years old
✓ You prefer relationship-based banking

Consider Alternatives If...

Need same-day approval? → Prospa or Bizcap
Less than 1 year trading? → Startup loan options
Need equipment finance? → Heartland Bank or equipment specialists
Have outstanding invoices? → ScotPac invoice finance
Want NZ-owned bank? → Kiwibank

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