Fixed Options Home Loan

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If you want the certainty of knowing your loan repayments and loan interest rate won't rise, choose a fixed rate term. Westpac lets you choose fixed rates for 1 to 5, 7 or 10 years, depending on your circumstances.

Once the fixed term of your loan ends, you can choose another fixed rate or convert to our Variable Housing Rate.

At a glance
Essential details
Interest rates
Options
Features

At a glance

'Lock in' your interest rate for a specified period
Certainty of a fixed repayment amount
'Low doc' version available.

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Essential details

Establishment fees	$600 establishment fee
Monthly loan maintenance fee	$8 monthly loan maintenance fee.
Loan term	Up to 30 years
Repayment basis and cycle	Principal, Interest and Fees Interest Only and Fees (For terms up to 5 years).
Repayment frequency and method	Monthly, fortnightly or weekly by Direct Debit (preferred) for Principal, Interest and Fees loans Monthly by Direct Debit only for Interest Only loans
Additional repayments	Total prepayments up to $15,000 cumulative allowed during the fixed rate period without penalty. Where prepayments exceed this threshold, a break cost and prepayment administration fee may apply.

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Interest rates

	Fixed interest rates	Comparison rates
1 year 2 year 3 year 4 year 5 year 7 year 10 year	5.99% pa 5.79% pa 5.69% pa 6.49% pa 6.49% pa 6.99% pa 6.99% pa	1 year - 6.94% pa* 2 year - 6.82% pa* 3 year - 6.69% pa* 4 year - 6.89% pa* 5 year - 6.85% pa* 7 year - 7.09% pa* 10 year - 7.10% pa*

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Options

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, you will get a 0.2% p.a. discount off the standard fixed interest rates for borrowings over $150,000.

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Features

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	This option is not available on this loan.	N/A
Top-up	This option is not available on this loan.	N/A
Fixed rate lock in	Fixed rate may vary between application and draw down. This option lets you lock in your interest rate to the rate at the time of the loan approval, or within 90 days of approval.	0.15% of loan amount
100% Offset	This option is not available on this loan.	N/A
Parental leave	This option is not available on this loan.	N/A
Reduced Repayment	This option is not available on this loan.	N/A

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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 ABN & RSE Numbers for Superannuation entities.

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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.