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
Westpac's Choices Floating mortgage provides full repayment flexibility — extra payments, lump sums, and full repayment without penalties. It's part of Westpac's Choices range, which allows you to split your loan across multiple rate types.
The floating rate is higher than fixed options, making it best as a tactical component of a broader mortgage structure. Westpac's cashback still applies, and the Choices framework makes it easy to mix and match fixed and floating portions.