Westpac NZ is supporting customers to pay off their debt faster with a special personal loan debt consolidation rate of 11.95%, as new research shows many households expect to face ongoing cost pressures in 2025.
A survey of 1,093 Westpac customers found nearly 30% said holiday spending would probably or definitely cause financial stress in the new year, and another 24% said it may do. 14% of respondents were planning to take on debt to pay for additional costs in the new year.
Westpac NZ General Manager of Product, Sustainability and Marketing, Sarah Hearn, says Westpac is offering the special rate to help customers who may be struggling with multiple debts to start 2025 on the right foot.
“Nearly half of customers we surveyed…
