Westpac floating rate

Discover what floating rates are, and when they are used


Floating interest rates are revised periodically based on changes in the situation in the financial markets.

As a rule, they consist of 2 parts - a floating financial indicator and a bank margin.

Mostly floating rate is applied on mortgage loans.

You can see Westpac's floating mortgage rate at the link.

Westpac floating rates in NZ are available here.

Australian banks usually offer their clients two types of interest rates on their loans: floating and fixed. Floating rates are usually lower, therefore they are more beneficial than fixed rates, but in case of a strong unfavorable financial trend, the situation can change to the opposite

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All Westpac Bank FAQ