Westpac NZ reduces floating home loan, business lending, and savings rates by 0.25% in response to official cash rate decrease.
Westpac NZ has cut its floating home loan, business lending, and savings rates by 0.25% following the official cash rate (OCR) decrease, aiming to provide ongoing repayment relief for homeowners, businesses, farmers, and growers. This move comes after the bank previously cut fixed home loan rates in response to falling wholesale rates since July. Westpac NZ General Manager of Product, Sustainability, and Marketing, Sarah Hearn, stated that the bank will continue to look for opportunities to pass on interest rate reductions to provide customers with good value in a competitive environment.
August 14, 2024
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