Home Loan Interest rates

We have a range of competitive home loan interest rates for our fixed, floating, offset and capped home loan options .

And just arriving, the Westpac Choices Home Loan with Airpoints™ is available now with all of Westpac's current standard interest rates (excluding specials or packages) with Choices Floating, Fixed and Capped Home Loans. To find out more about Westpac Choices Home Loan with Airpoints™ head here .

Please note that:

If you are applying for a mortgage with low equity (i.e. your deposit is less than 20%), Westpac may charge an additional interest margin of between 0.25% to 1.5% per annum. The actual margin charged will depend on your level of equity.

For existing Home loan customers you can find your current rate in your home loan summary, online bank account or contact  Westpac for further information.

Want to lock it in?

With Westpac you can lock in your fixed or capped rate for up to 60 days when you apply for your loan (once you have your draw down date sorted). It doesn’t cost any extra to take up, and it means any change in the interest rate during that period won’t affect you. Westpac also offers conditional approvals^ so you'll have a good idea of what you can afford to spend. A fee may apply to break or change a rate lock agreement.

*Special 1, 2 and 3 year fixed rate eligibility criteria:  minimum of 20% equity, salary credit to a Westpac transaction account plus a Westpac credit card  or a specified Westpac insurance product **, to be approved or issued prior to drawdown date. These special fixed interest rates cannot be used in conjunction with any other Westpac home loan offers or discount packages, including previously negotiated offers, legal fee contributions or the Westpac Choices Home Loan with Airpoints™. These special fixed interest rates do not apply to loans for business purposes.

Westpac's current credit card lending criteria apply to all applications and transfers. Westpac credit card Conditions of Use apply to the applicable card.

**Specified Westpac Insurance product to be one of the following:

Westpac insurance products are arranged by Westpac New Zealand Limited (“Westpac”) and underwritten by various insurance companies. Neither Westpac Banking Corporation nor Westpac guarantee the obligations of any insurer, or insurance product. Westpac will receive commission payments as a result of the arrangement of insurance products.

Terms, conditions, exclusions and limits apply and more detail can be found in the relevant policy document. The availability of any insurance cover is subject to the acceptance and approval of a completed application.

^Conditional approval requires a credit check and confirmation of the details provided in your application. Other conditions may also apply depending on the nature of your application.

You can find all other home loan fees here  including any failed payment fees.

An additional default interest rate of 5% p.a for Choices Home Loans will be applied to balance in arrears.

Westpac's home loan lending criteria and terms and conditions apply. An establishment charge may apply. A Low Equity Margin may apply. An additional fee or higher interest rate may apply to home loans if the application is accepted but does not meet the standard lending criteria. You can get a copy of the current Disclosure Statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge.

Welcome Home Loan can only be used for the purchase of owner occupied properties. Income caps and regional loan caps apply. A Lenders Mortgage Insurance Premium applies. Welcome Home Loan and Westpac’s current home loan lending criteria and terms and conditions apply. An establishment charge may apply.