How much could I save using Choices Offset?

Enter your home loan and your savings/transaction(s) account details to get an idea of how offsetting could work for you.

You can find out more about our offset mortgages here.

Enter your details below to calculate a result

You could pay off your loan


You could save in interest

Your effective interest rate

% p.a.

Want more information on what your repayments would look like with Choices Offset? Show me

Home loan

  % p.a.

Assumes minimum 20% equity

6 months
30 years

Savings/transaction account(s) to offset


Important things to know

Key details about Choices Offset:

  • Choices Offset is only available with a Choices Floating Home Loan.
  • The eligible Westpac savings accounts are Online Bonus Saver, Simple Saver, and Business Online Saver. The eligible Westpac transaction accounts are Access, Electronic, Earner, Easy Access, Society Cheque, Business Interest and Business Transact. Term deposits, KiwiSaver and PIE investment accounts are not eligible.
  • Account hold restrictions also apply.
  • The maximum number of eligible Westpac savings/transaction accounts you can use for Choices Offset is ten.
  • Funds in your transaction and savings account(s) will not earn interest as long as they are used to offset your home loan.
  • You can find out more about Choices Offset here.

The calculator is intended as a general guide only.  The calculations are based on various assumptions including that:

  • A minimum 20% equity will apply to the home loan. View details for home loans with less than 20% equity.
  • your current savings account(s) balance, average transaction account(s) balance and your regular savings will remain unchanged during the loan term, However, these factors may vary over that time frame.
  • the Choices Offset floating interest rate will remain unchanged during the loan term, however, this interest rate is subject to change at any time without notice.
  • the interest rate applying to the home loan without offset is the same as the current Choices Offset floating interest rate. However, other interest rates may apply to home loans without offset and this rate will also be subject to change over the loan term.
  • the home loan balance will not be increased during the loan term, no additional lump sum payments will be made, and all payments will be made in full and on time.
Taking into account these assumptions and the information you have entered, the savings displayed is the difference between the total interest paid on a home loan without offset and the total interest paid on a home loan with Choices Offset, and the effective interest rate is the interest rate you would effectively pay over the reduced lifetime of the loan.

*This calculator is a guide only. It does not take into account your personal situation (financial or otherwise) or goals. The calculated figures are provided for illustrative purposes only and are based on the accuracy of the information entered and various assumptions. It does not constitute a quote or offer by Westpac. Choices Offset is only available on a Choices Floating home loan. The Choices Offset floating interest rate (minimum 20% equity) is current as at 20 January 2021 and is subject to change without notice. Westpac's current home lending criteria apply to all applications for finance. An establishment charge may apply. A Low Equity Margin may apply. An additional fee or higher interest rate may apply to loans if the application is accepted but does not meet the standard lending criteria. An application fee and monthly account maintenance fee applies. You can link up to ten eligible Westpac savings and transaction accounts for Choices Offset. Linked accounts will not earn interest. Terms, conditions, fees and charges apply to Westpac savings and transaction accounts. 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.