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The EV Loan.
Electrify your journey with a Westpac EV loan.
Say hello to the EV Loan.
Looking to reduce emissions as well as running costs?
Our EV loan allows you to borrow at a low interest rate of 7.99% p.a.* for a new or used electric / hybrid car, e-moped or e-bike, as well as the option to transfer your existing ^ EV loan to Westpac.
Interest rate is subject to change.
Benefits.
- Our loans are unsecured, so you will not need to use your electric vehicle as security.
- Flexible repayment options include fortnightly and monthly repayments.
- No fees for additional or lump sum repayments.
- Standard loan terms for up to 5 years.
- Move your existing ^ EV loan to Westpac.
Interest rate.
If you do not pay amounts when they are due and this causes your loan account to exceed your limit, the rate of interest that applies to that overlimit amount will be the interest rate + 5% p.a.
Fees.
Fees are subject to change.
See what your repayments could be.
FAQs.
Things you should know.
Interest rate is subject to change. If you do not pay amounts when they are due and this causes your loan account to exceed your limit, the rate of interest that applies to that overlimit amount will be the interest rate + 5% p.a.
Eligibility criteria, lending criteria, terms and conditions apply. You'll need to be 18 or older and a New Zealand citizen or permanent resident with a Westpac transaction account. If you’re not a New Zealand citizen or permanent resident but you’re working in New Zealand, or you don’t meet the other criteria, we still may be able to help.
Electric and hybrid cars, e-mopeds and e-bikes are eligible.
The EV loan is subject to withdrawal at Westpac’s discretion without notice. All applications are subject to Westpac approval.
*The EV loan interest rate of 7.99% p.a. is a combination of Westpac’s personal loan base rate of 14%p.a. less a margin of 6.01% p.a. Westpac may change and/or replace its personal loan base rate or the margin from time to time.
^Settlement letter required.
Documents and fees.
Personal loan Terms and Conditions sample for or customers whose terms and conditions are dated 12 September 2024 and now
Personal loan Terms and Conditions sample for customers whose terms and conditions are dated 27 April 2023 and 11 September 2024
Personal loan Terms and Conditions sample for customers whose terms and conditions are dated 15 September 2022 and 26 April 2023
Personal Loan Terms and Conditions sample for customers whose terms and conditions are dated between 26 May 2022 and 14 September 2022
Personal Loan Terms and Conditions sample for customers whose terms and conditions are dated between 6 June 2015 to 25 May 2022
Personal Loan Summary sample for customers whose agreement is dated between 12 September 2024 and now
Personal Loan Summary sample for customers whose agreement is dated between 15 September 2022 and 11 September 2024
Personal Loan Summary sample for customers whose agreement is dated between 26 May 2022 and 14 September 2022
Personal Loan Summary sample for customers whose summary is dated between 19 October 2016 and 25 May 2022
Personal Loan Summary sample sample for customers whose summary is dated between 6 June 2015 and 18 October 2016