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Westpac NZ cuts fixed home loan rate.

30 Oct 2026

Westpac NZ is offering homeowners more value and choice in their fixed rate lending options with a 0.26% p.a. cut to its 18-month home loan rate.

Effective Monday 2 November, Westpac’s new 18-month advertised special rate of 5.19% p.a. is the lowest among New Zealand’s five biggest banks on that term as of 1pm Friday, as is Westpac’s current 2-year rate of 5.29% p.a.

Westpac NZ Managing Director of Product, Sustainability and Marketing, Sarah Hearn, says the bank is always looking for opportunities to take the initiative and pass on lower rates to customers.

“While our 1-year term continues to be popular, locking in for 18 months could be an option for homeowners wanting certainty on their repayments for a bit longer,” Ms Hearn says.

“Overall, our economists think interest rates are heading upwards over the next year. Our data suggests most homeowners are coping well with higher rates, but anyone who’s worried about making ends meet should get in touch so we can work together on a plan.”

Westpac Choices Fixed Home Loan rates – Special (effective Monday 2 November 2026)*

Term	New Rate	Change
6 months	4.89% p.a.	No change
1 year	5.19% p.a.	No change
18 months	5.19% p.a.	-0.26%
2 years	5.29% p.a.	No change
3 years	5.59% p.a.	No change
4 years	5.65% p.a.	No change
5 years	5.75% p.a.	No change

Westpac Choices Fixed Home Loan rates – Standard (effective Monday 2 November 2026)*

Term	New Rate	Change
6 months	5.49% p.a.	No change
1 year	5.79% p.a.	No change
18 months	5.79% p.a.	-0.26%
2 years	5.89% p.a.	No change
3 years	6.19% p.a.	No change
4 years	6.25% p.a.	No change
5 years	6.35% p.a.	No change

*Interest rates are subject to change without notice. Westpac NZ’s lending and eligibility criteria, and terms and conditions apply. A low equity margin may apply. For more information please go to www.westpac.co.nz.