Westpac is introducing new one and two-year, fixed-term home loan interest rates for borrowers with at least a 20% deposit.
The new one year rate of 5.40% is an increase of 46 basis points from its 4.94% "limited time special".
The new two year rate of 5.65% is 30 basis points lower than the bank's standard two-year rate of 5.95%.
Both new rates are effective from Friday, October 4.
"Over the last few months there has been a growing preference for fixed-term home loans and the new rate provides a competitive option for customers," Westpac said. "The two-year term offers certainty for customers and choice for those looking to split their mortgages between fixed and floating rates."
"Both the one and two year rates require a minimum 20% deposit and no minimum lending amount is required," Westpac added.
See all carded, or advertised, bank home loan rates here.
In addition to the table, TSB has a 15 month 'special' rate of 5.15%.
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