Westpac prepares to offer Airpoints with home loans
BNZ's GlobalPlus home loan product, which earned Air New Zealand Airpoints dollars has gone, but Westpac is about to roll out a similar product.
Monday, March 30th 2015, 10:33AM
Westpac says home loan customers will be able to earn Airpoints Dollars with a new home loan product from May 1.
While details are still to be announced borrowers will earn one Airpoint dollar for every $1,000 of their outstanding balance each year. Airpoints will be calculated and credited monthly.
The Choices home loan with Airpoints will only be available with its standard interest rates (not with any special rates or packages) for new lending on a new home loan account with Westpac from May 1. Other eligibility criteria and terms and conditions apply.
Westpac grabbed the Air New Zealand Airpoints deal off Westpac earlier this month and is now chasing the 100,000 BNZ GlobalPlus credit card and home loan customers.
From May BNZ customers will receive $1 for every Airpoint they would have earned under the old scheme.
BNZ Director of Retail Banking and Marketing, Craig Herbison, says borrowers can fly or buy as they choose, or use that to reduce their debt.
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