Choices Home Loan with Airpoints™

Your Airpoints Dollars™ can really add up when you have a Westpac Choices Home Loan with Airpoints™. Each month we'll take a look at your loan balance and calculate Airpoints Dollars™ at an annual earn rate of one Airpoints Dollar for every $1,000 of outstanding balance*, which is then awarded to your Airpoints account**.

It's for you if:

  • you want to earn Airpoints Dollars on your home loan balance
  • you're an Air New Zealand Airpoints member (you can join easily online at if you're not)

Key features

  • earn one Airpoints Dollar for every $1,000 of your outstanding loan balance each year*, calculated and awarded each month to the Airpoints account of the nominated earner**
  • available on Choices Fixed and Floating Home Loans#
  • all current standard Westpac home loan interest rates are available, excluding specials and packages

Structuring your Choices Home Loan

Anyone can apply for this loan, whether you are a new or existing Westpac home loan customer. Existing customers will need to sign new loan documentation (which may mean your existing benefits are not transferred). Break costs may be payable if you break a fixed term to transfer to the Choices Home Loan with Airpoints.

Because your new Choices Home Loan with Airpoints can be set up with a fixed, floating, or split interest rate, take a look at each of these loan options to explore what type of structure will suit you best.

You’ll also find an overview of features on the “Features in detail” tab.

Features in detail

The Westpac Choices Home Loan with Airpoints is available on new Westpac Choices Fixed and Choices Floating Home Loans with any of our current standard interest rates (excluding specials and packages). Compare the features of these loan types below, or check out our current interest rates.


  Fixed Floating  


Loan term Up to 30 years Up to 30 years This is how quickly you want to repay the loan. A longer term means smaller regular repayments but you’ll pay more interest overall.  
Redraw     With a fixed interest loan you'll need to wait to the end of the fixed term to re-draw any funds.
Transactional Loan (Revolving Credit)  X  X  
Transfer of property     You may be able to take your home loan with you if you move property, meaning you won’t have to break your fixed rate and incur prepayment (break) costs
Top-up  $5,000 or more  $5,000 or more You can apply to top up your loan by $5,000 or more at any time during your loan term.
Repayment options    
Repayment frequency Fortnightly or Monthly Fortnightly or Monthly Choose between fortnightly and monthly repayment cycles to coincide with when you receive your income/salary.
Table (Principal & Interest)      With a table loan your regular payments are the same each time (unless interest rates change). This is the most popular type of loan because it gives more consistency to your payments*.
Interest only      An interest only loan is where you pay the interest owing each fortnight or month but nothing off the loan principal. This option is usually for a limited term only.
Flat / Reducing      With a reducing loan you pay a set amount off the loan each time plus the interest you owe. So your payments are a lot higher at the start than later on.
Increase Regular Repayments By up to 20% of your minimum repayment   With Westpac fixed rate loans you can increase your regular loan repayment by up to 20% of the minimum repayment at any time during the fixed period – this means if your income increases you can choose to pay more towards your loan, saving you interest.
Reduce Regular Repayments      If you’re paying more than the minimum required you can reduce your regular repayments to any amount at or above the minimum.
One-Off Lump Sum Repayments But fixed rate prepayment (break) costs are likely to apply   If you choose to make a lump sum payment on your fixed rate loan before the fixed rate term ends you are likely to incur prepayment (break) costsWith a Floating you can partly or fully repay your loan at any time without break costs.
Loan terms and conditions

View and/or download our terms and conditions for our Choices Home Loan with Airpoints account below:

View and/or download terms and conditions for all our consumer lending products here.