October 23, 2020 at 12:52 AM

Westpac NZ have reduced their 12 month special fix rate to a low 2.49%, matching TSB Bank NZ. 

Special Fix Rates Changes

Westpac NZ

12 Month Special Fix Rate - 2.49%

Check out how they compare to the other banks by clicking HERE


If you're interested! Out of the eight New Zealand Banks listed below, here is a list of who is offering the lowest advertised Special/Owner Occupied Home Loan Rates as of October 23, 2020, 12.56am.

Floating @ 3.40% - Kiwibank

6 Months @ 2.55% - The Co-Operative Bank of NZ

12 Months @ 2.49% - Westpac NZ and TSB Bank NZ (2.25% with The Co-Operative Bank NZ , terms and conditions apply)

18 Months @ 2.49% - BNZ Bank, ASB Bank and SBS Bank

24 Months @ 2.49% - SBS Bank

36 Months @ 2.49% - SBS Bank

48 Months @ 2.89% - The Co-Operative Bank NZ

60 Months @ 2.99% - SBS Bank, ASB Bank, BNZ, The Co-Operative Bank NZ and Westpac NZ

Can I ask for a lower rate with my own bank, if they are not advertising the lowest rate?

Please remember that the rates listed above are advertised, so there could be an opportunity to negotiate. There are a number of factors that will be considered by your bank:

- How long have you been with your bank?

- The equity or LVR position you currently have. i.e >20% equity in your home and/or 30% against your investment properties.

- The likelihood you are in a position to refinance if the rate offered is not to your expectation? E.g., If you have other loans fixed and they are not due to expire for a period of time. They may believe you are not likely to move to another bank and pay break/ solicitor costs.

- Last and by no means least, do they have enough margin (profit) to negotiate and by how much?

It pays to check with your bank or contact us to see if we can get you the rate you want - we do not charge a fee to negotiate on your behalf!

We recommend that you check current rate details with us or the respective banks by clicking the links provided below as the rates above can change without notice.

ANZ New Zealand
ASB Bank
The Co-Operative Bank NZ
SBS Bank
Westpac NZ

Tags: home loan interest rates Westpac New Zealand FIX RATES
Category: Home Loan Fix Rate Changes