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Westpac NZ lifts long-term lending and deposit rates.

17 Mar 2026

Westpac NZ is lifting home lending and term deposit rates on terms 1-year and longer, effective Wednesday 18 March.

Westpac’s home loan and term deposit rates will rise by between 0.10% and 0.30% p.a. on all terms from 1 to 5 years.

Westpac NZ Managing Director of Product, Sustainability and Marketing, Sarah Hearn, says longer term wholesale rates have increased significantly in recent weeks, driving up funding costs for lenders.

“With today’s changes we are absorbing some of those increased costs, and also passing on higher rates to our savings customers, including the best 1-year term deposit rate of the five biggest banks as of Tuesday morning,” Ms Hearn says.

"In an environment of rising interest rates, it’s a good time to set financial goals and plan how to achieve them. We encourage both borrowers and savers to get in touch with us so we can help on that journey.”

ENDS

Westpac Choices Fixed Home Loan rates – Special (effective Wednesday 18 March 2026)

Term	New Rate	Change
6 months	4.49% p.a.	No change
1 year	4.59% p.a.	+0.10%
18 months	4.85% p.a.	+0.16%
2 years	5.19% p.a.	+0.30%
3 years	5.29% p.a.	+0.30%
4 years	5.39% p.a.	+0.20%
5 years	5.59% p.a.	+0.30%

Westpac Choices Fixed Home Loan rates – Standard (effective Wednesday 18 March 2026)

Term	New Rate	Change
6 months	5.09% p.a.	No change
1 year	5.19% p.a.	+0.10%
18 months	5.45% p.a.	+0.16%
2 years	5.79% p.a.	+0.30%
3 years	5.89% p.a.	+0.30%
4 years	5.99% p.a.	+0.20%
5 years	6.19% p.a.	+0.30%

*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.

Term Deposit & Term PIE rates (effective Wednesday 18 March 2026)

Term	Interest Frequency	New Rate*	Change
30 days	At Maturity	1.80% p.a.	No Change
60 days	At Maturity	1.90% p.a.	No Change
90 days	At Maturity	2.85% p.a.	No Change
4 months	At Maturity	3.00% p.a.	No Change
5 months	At Maturity	3.10% p.a.	No Change
6 months	At Maturity, Monthly or Compounding	3.45% p.a.	No Change
8 months	At Maturity, Monthly or Compounding	3.50% p.a.	No Change
9 months	At Maturity, Monthly or Compounding	3.50% p.a.	No Change
12 months	At Maturity, Monthly or Compounding	3.75% p.a.	+0.20%
18 months	At Maturity, Monthly or Compounding	3.80% p.a.	+0.10%
2 years	At Maturity, Monthly or Compounding	4.10% p.a.	+0.10%
3 years	At Maturity, Monthly or Compounding	4.40% p.a.	+0.30%
4 years	At Maturity, Monthly or Compounding	4.60% p.a.	+0.30%
5 years	At Maturity, Monthly or Compounding	4.70% p.a.	+0.30%

*Rates are subject to change without notice. Minimum $5,000 deposit. Rates are available for Retail and Business Banking customers holding up to $5,000,000 total deposits, either solely or jointly with Westpac NZ (including PIE investments). For rates applicable to amounts in excess of $5,000,000, please contact us. Rates are not available to Financial Institutions. Other T&Cs apply, see westpac.co.nz for details and a copy of the relevant Term Sheet. Compounding interest: For terms six months or longer, interest can be compounded quarterly.

Investments made in the Westpac Term PIE Fund (“Fund”) do not represent bank deposits or liabilities of Westpac Banking Corporation ABN 33 007 457 141, Westpac New Zealand Limited (“Westpac NZ”) or any other member of the Westpac group of companies. They are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances, and loss of investment value, including principal invested. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies, Trustees Executors Limited (as trustee), or any director or nominee of any of those entities guarantees the Fund’s performance, returns or repayment of capital.