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Designed for customers who want a flexible loan that can cater to their changing needs, Premium Option Home Loan has a broad range of options.
| Interest rate |
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| Establishment fee |
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| Monthly loan maintenance fee |
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| Loan term |
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| Repayment basis and cycle |
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| Repayment frequency and method |
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| Additional repayments |
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| Combination loan | Split your loan between fixed and variable to give you a balance between flexibility and certainty. | Yes |
| Premier Advantage Package | Bundle your home loan with your regular banking in order to enjoy a wide range of savings on Westpac products. | Yes |
| Portability | Gives you the ability to change properties while maintaining the same loan account. Usual security criteria apply. | $300 per move |
| Progress draws | Allows you to draw funds when building for payments to builders and other contractors, so interest costs are reduced. Drawings must be completed within 12 months. | $300 covers all |
| Redraw | Gives you same day access to any available funds (for payments you have made over and above the normal scheduled payments) in your account. | Fee free |
| Repayment holidays | Gives you the option of skipping full or partial repayments while you are ahead of your required payments. | Fee free |
| SmartPay | Allows you to deposit all your income into your loan account which reduces daily interest charges. You can then arrange automatic transfers to pay your bills or disperse funds to nominated accounts. | Fee free |
| Top-up | Allows you to increase your loan if you need further finance. Usual lending criteria apply. | $400 |
| 100% Offset | This option is not available on this loan. | N/A |
| Parental leave | Gives you the opportunity to reduce your repayments by as much as 50% for a period of up to six months while you are on maternity or paternity leave. Only available after the initial 18 months of a loan but conditions apply. | Fee free |
Got a question about Home Loans? 
General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include Product Disclosure Statements (PDS) for some products. The PDS is relevant when deciding whether to acquire or hold a product. View our Australian Prudential Regulation Authority Registrable Superannuation Entity (RSE) Licence & Registration numbers.
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* The comparison rate for each of the home loan products contained on this page are based on a secured loan of $150,000 over a term of 25 years.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Details of the comparison rate schedule in respect of these home loan products can be obtained from any of our branches.
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