{"id":95740,"date":"2025-10-23T04:49:07","date_gmt":"2025-10-23T04:49:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/95740\/"},"modified":"2025-10-23T04:49:07","modified_gmt":"2025-10-23T04:49:07","slug":"westpac-trims-mortgage-rates-amid-competition-from-rivals","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/95740\/","title":{"rendered":"Westpac trims mortgage rates amid competition from rivals"},"content":{"rendered":"

\u201cThis is the third time this month we\u2019ve cut our two-year advertised special home loan rate.<\/p>\n

\u201cWe\u2019re working hard to offer great rates and options to help homeowners keep more money in their back pockets.\u201d<\/p>\n

Westpac is also trimming some of its term deposit rates by between 5bps and 30bps.<\/p>\n

\u201cWe also know savers will be watching falling rates closely. We encourage customers to use our Savings and Investment Chooser Tool<\/a> or talk to us if they have any questions about their savings options,\u201d Hearn said.<\/p>\n

\u201cWe\u2019ve held our 32-day Notice Saver rate unchanged at 3.00% per annum through the last two Official Cash Rate cuts, and have improved the digital experience for customers so they can now apply for a new Notice Saver account online.\u201d <\/p>\n

Yesterday, BNZ cut its six-month term rate by 10bps to 4.79%. Its new two-year rate is 4.49%, its three-year rate is 4.79% and its four-year rate is 4.99%.<\/p>\n

BNZ lowered its five-year rate by 40bps to 4.99%. <\/p>\n

On Monday, ASB cut its six-month rate to 4.85%.<\/p>\n

Its two-year rate was cut to 4.49% while its three-year rate dropped to 4.79%.<\/p>\n

Listen and subscribe to the Today in Business<\/a> podcast \u2013 the top headlines from the NZ Herald business team summarised and delivered by an AI voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThis is the third time this month we\u2019ve cut our two-year advertised special home loan rate. \u201cWe\u2019re working…\n","protected":false},"author":2,"featured_media":56399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[534,1643,138,4596,71,700,47786,16400,111,139,69,7676,1041,9424,1865,70932,70931,17239],"class_list":{"0":"post-95740","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-amid","9":"tag-bank","10":"tag-business","11":"tag-competition","12":"tag-from","13":"tag-latest","14":"tag-lenders","15":"tag-mortgage","16":"tag-new-zealand","17":"tag-newzealand","18":"tag-nz","19":"tag-rates","20":"tag-rival","21":"tag-rivals","22":"tag-today","23":"tag-trim","24":"tag-trims","25":"tag-westpac"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/95740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=95740"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/95740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/56399"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=95740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=95740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=95740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}