The country's biggest bank has all but stopped issuing mortgages of 95% of a property's value, saying people should save more in the current economic environment.
ANZ New Zealand chief executive, David Hisco, says households are wanting to put their money in the bank rather than taking on new debt, a trend that's grown since the global financial crisis.
But customers wanting to borrow, may have to save more.
Mr Hisco says the bank is not sure that it's the right thing to do to lend to customers who have only a 5% deposit and stopped doing so in all but special circumstances.
"We tend to think that probably in the current environment people should try and save a little bit more, maybe save 10% as a minimum."
The bank reported an underlying profit of $351 million in the last three months of 2011, an increase of 17% on the same period a year earlier.
Deposits grew 1.7% to $69.4 billion but lending remained reasonably flat, as businesses continued to pay back debt.