Rocket Investment Loan
Essentials
- Fully featured offset investment loan for investors
- Variable rate 7.09% 1 p.a., comparison rate 7.22% 2 p.a.
- Discount of up to 0.7% p.a. applies with the home loan package
- 100% offset transaction account linked to your investment home loan
- Pay your rent, salary and savings into your transaction account and your daily balance is offset against your loan
- Full range of flexible features including fee free redraw 3, top-up and repayment holidays
- Extra repayments allowed at any time without charge
- Every dollar in your account saves you interest
- Cuts years off your loan
- Interest only available for up to 15 years
- Low doc version available.
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Try our calculators
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Did you know?
Rocket can help you own your investment property sooner by reducing the interest you pay.
Things you should know
- 1.For new business originated from 19 September 2005. A rate of 7.19% p.a. applies to loans originated prior to 19 September 2005. Interest rate subject to change. Fees and charges and normal lending criteria apply. Terms and Conditions are available on request.
- 2.Warning: The 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.
- 3. Subject to Bank's approval.
- (i). This comparison rate is based on a secured loan of $150,000 over the term of 25 years. Warning: The 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.
Features
Fee free features to help you manage your investment home loan
| Feature | Description | Fee |
|---|---|---|
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100% offset |
Gives you access to a Westpac Choice Account free of monthly service fees which is linked to your investment property loan. Every dollar in your account is offset against your loan account, reducing your daily interest charges on your investment property loan. |
Fee free |
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Top-up 1 |
Lets you increase your investment property loan if you need access to additional funds. |
$400 per top up |
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Redraw 1 |
Gives you same day access to any extra repayments in your loan account.
To activate your redraw facility fill out the |
Fee free |
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Portability 1 |
Allows you to retain your account number when you move properties. You avoid the hassle and establishment fees associated with taking out a new loan. Security criteria apply. |
$300 per move |
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Repayment holiday 1 |
Lets you skip full or partial repayments when you’re ahead with your payments. |
Fee free |
| Parental leave 1 |
Lets you reduce your repayments by up to 50% for as long as 6 months when you are having a child. Available after the initial 18 months of a loan. Conditions apply. |
Fee free |
| Reduced 1 repayment | Lets you reduce your repayments by up to 50% for up to 6 months when you have large expenses, such as extended holidays or renovations subject to certain conditions. Available after the initial 12 months of a loan, up to two times over the life of the loan subject to repayment history criteria being met. At the end of the reduced repayment period your repayments will be adjusted so that the loan is repaid within its approved term. | Fee free |
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Progress draws (for construction) |
Lets you progressively draw down funds to pay builders and other contractors, to minimise interest costs. Drawings must be completed within 12 months. |
$300 covers all |
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SmartPay |
Lets you deposit all your income into your loan account which reduces daily interest charges. You can then arrange automatic transfers to pay bills or disperse funds to nominated accounts. To activate SmartPay fill out the |
Fee free |
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Funds access
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Provides flexible access via ATM, BPAY ®, direct debit, Online Banking, Telephone Banking, EFTPOS, cheque or at any Westpac branch. 2 |
Fee free |
Fees
Standard fees and home loan package fees
You save on standard fees when you choose the Premier Advantage Package, however an annual package fee of $395 applies.
| Fee | Standard loan | Under Premier Advantage Package | Low doc loan under Premier Advantage Package |
|---|---|---|---|
|
Loan establishment fee |
$600 (one upfront fee) |
NIL |
$355 |
|
Loan maintenance fee |
$8 per month |
NIL |
NIL |
Things you should know
- 1. Other fees and charges apply.
Rates
| Loan | Annual rate | Comparison rate 2 |
|---|---|---|
| Rocket Investment Loan | 7.09% 1 p.a. |
7.22% p.a. (i) Show comparison rates |
| Amount of loan | Term | Annual interest rate 1 | Comparison rate 2 |
|---|---|---|---|
| $50,000 | 7 years | 7.09% p.a. | 7.88% p.a. |
| $70,000 | 25 years | 7.09% p.a. | 7.37% p.a. |
| $100,000 | 25 years | 7.09% p.a. | 7.29% p.a. |
| $130,000 | 25 years | 7.09% p.a. | 7.24% p.a. |
| $150,000 | 25 years | 7.09% p.a. | 7.22% p.a. |
| $200,000 | 25 years | 7.09% p.a. | 7.19% p.a. |
| $225,000 | 25 years | 7.09% p.a. | 7.18% p.a. |
| $250,000 | 25 years | 7.09% p.a. | 7.17% p.a. |
| $275,000 | 30 years | 7.09% p.a. | 7.16% p.a. |
| $300,000 | 30 years | 7.09% p.a. | 7.15% p.a. |
Home loan package discount rates
You can receive a discount of up to 0.7% p.a. on the standard variable rate for the life of your loan with a Premier Advantage Package. A package fee applies.
| Loan amount | Discount on standard loan 3 | Discount on low doc loan 3 |
|---|---|---|
| $150,000 - $249,999 |
Special offer on new loans - limited time |
0.3% p.a. |
| $250,000 - $499,999 | 0.7% p.a. | 0.5% p.a. |
| $500,000 and above | 0.7% p.a. | 0.7% p.a. |
Things you should know
- 1.For new business originated from 19 September 2005. A rate of 7.96% p.a. applies to loans originated prior to 19 September 2005. Interest rate subject to change. Fees and charges and normal lending criteria apply. Terms and Conditions are available on request.
- 2.Warning: The 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.
- 3. Discount margin subject to change.
- (i). This comparison rate is based on a secured loan of $150,000 over the term of 25 years. Warning: The 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.
Options
Take advantage of a home loan package 1
Receive an interest rate discount on your loan of up to 0.7% p.a. and enjoy a range of savings on Westpac products when you bundle your investment home loan with your regular banking. An annual package fee applies.
Consider other types of loan
Combination loan – split your loan between fixed and variable to give you both flexibility and certainty
Submit a low doc loan application
If you’re self-employed and don't have documented proof of income, we can still help. You’ll need to provide us with your registered business name along with your ABN. Eligibility criteria apply.
Repayment methods
- Principal, interest and fees loans can be paid monthly, fortnightly or weekly, direct debit is preferred
- Interest only loans are available for up to 15 years. Repayments are monthly by direct debit.
Things you should know
- 1.For new business originated from 19 September 2005. A rate of 7.96% p.a. applies to loans originated prior to 19 September 2005. Interest rate subject to change. Fees and charges and normal lending criteria apply. Terms and Conditions are available on request.
