Product
Provider
Rate
Fee
Repayment calculator
NZ$
%
Monthly repayment
NZ$3,165
NZ$619,263total interest
NZ$1,139,263total repaid
| Deposit tier | Rate | Monthly | Total interest | Total repaid |
|---|---|---|---|---|
| Deposit < 5% | 7.64% | NZ$3,686 | NZ$806,922 | NZ$1,326,922 |
| Deposit 5% – 9% | 7.39% | NZ$3,597 | NZ$774,858 | NZ$1,294,858 |
| Deposit 10% – 14% | 6.64% | NZ$3,335 | NZ$680,519 | NZ$1,200,519 |
| Deposit 15% – 19%your tier | 6.14% | NZ$3,165 | NZ$619,263 | NZ$1,139,263 |
| Deposit ≥ 25% | 5.89% | NZ$3,081 | NZ$589,154 | NZ$1,109,154 |
Estimate only. Assumes principal & interest, constant rate for full term.
Rates by deposit sizeLVR — Loan-to-Value Ratio
The percentage of the property value you're borrowing. A lower LVR means a bigger deposit and usually a better interest rate.
Example: Property NZ$800k, deposit NZ$160k → LVR = 80% (borrow 80%, own 20%).
| Deposit < 5% | 7.64% |
| Deposit 5% – 9% | 7.39% |
| Deposit 10% – 14% | 6.64% |
| Deposit 15% – 19% | 6.14% |
| Deposit ≥ 25% | 5.89% |
Higher deposit = lower LVR = better rate
About Choices Floating with Offset
Westpac's Choices Floating with Offset lets you reduce mortgage interest by linking savings accounts. Money in your offset accounts reduces the balance on which interest is calculated, potentially saving you thousands over the life of the loan.
This product suits borrowers who maintain significant savings buffers — particularly self-employed individuals or those with lumpy income. The offset rate is the same as the standard floating rate, so the real benefit comes from having meaningful savings to offset. Westpac's cashback provides an additional incentive.