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Westpac NZ interest rate changes
Westpac NZ interest rate changes
Westpac NZ can advise changes to the following interest rates:
Housing
•
The Choices Floating rate has been reduced by 16bps to
5.79%pa and the revolving Choices Everyday rate has been
reduced by 11bps to 5.84%pa. This change will become
effective on Friday 10th May for new customers and on
Thursday May 30th for existing customers.
• Our fixed special* 1-year rate has
been reduced by 16bps to 3.89%pa. Our fixed special* 2-year
rate has been reduced by 4bps to 3.95%pa. The changes will
become effective on Friday 10th May. *Requires minimum of
20% equity and a transactional account with salary. Business
and investment purposed Choices loans and Package customers
are excluded.
Deposits
• Our 90-day Term Deposit rate has
been reduced by 15bps to 2.50%pa. Our 4-month Term Deposit
rate has been reduced by 15bps to 2.75%pa. Our 5-month Term
Deposit rate has been reduced by 20bps to 2.75%. All of our
Term Deposit rates of between 6 to 9 months have been
reduced by 10bps to 3.05%pa. These changes will become
effective on Friday 10th May.
• Base interest for Online Bonus Saver and Online Bonus Saver PIE remains at 0.10%pa. Bonus interest on both products has been reduced by 15bps to 1.75%pa, giving a potential return of 1.85%pa. This change will become effective on Friday 10th May.
• Our 32 day Notice Saver interest rate has been reduced by 25bps to 2.40%pa. This change will become effective on Friday 10th May.
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