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2.09% p.a. (3.50% p.a. comparison rate*)

Featured 2 year fixed rate on the Fixed Options Home Loan

Applies to owner occupier home loans with principal and interest repayments with a Premier Advantage Package# ($395 annual package fee applies). Available with new fixed rate loans or to existing variable rate loan customers looking to fix all or part of their loan.  These rates do not apply to existing fixed rate loans.

Credit criteria and T&Cs apply.

Get $3k cashback when you refinance to us**

$2k per refinanced property and a bonus $1k for your first application.

Owner Occupier loans (P&I repayments) and Investment loans, with LVR+ up to 80% and min $250k loan per property. Flexi First Option or packaged# home loans only ($395 annual package fee). Apply by 31 January 2021, settle by 31 March 2021. Excludes refinances within Westpac Group.

You'll also get

Our packaged Fixed Options Home Loan comes with plenty of inclusions, all for a $395 annual package fee.

  • Ability to make extra repayments, up to a $30k limit 
  • Option to split your loan with a variable rate 
  • Discounts on Westpac fixed rate home loans
  • Pay no loan maintenance fee, "top up / loan increase" fee, portability fee or re-fixing fee. 

The numbers


Fees for Extras Cost
Portability $300 per move ($0 with Premier Advantage Package#)
Fee to re-fix your interest rate at the end of the fixed rate term $150 ($0 with Premier Advantage Package#)
Progress draw setup $300
Fixed rate lock in fee 0.10% of the loan amount
Extra repayments2 Up to $30,0001 in fixed rate period
Redraw2 $30,0001 maximum

Applying is simple, get started online

Get started online

Apply for a new home loan, conditional approval or switch from another bank. It should only take around 20 minutes to apply.

Learn how much you could borrow

We’ll show you what you could afford to spend on a property and estimated costs involved.

One point of contact

You’ll be assigned a home finance manager who’ll answer all your questions.

Track your progress

Follow your application all the way to settlement and get notifications so you know what’s coming next.


Already started an application? Retrieve your application


Things you should know

Credit criteria, fees and charges apply. Terms and conditions available on request. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers. This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice. This includes any tax consequences arising from any promotions for investors and customers should seek independent advice on any taxation matters.

*Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

#Premier Advantage Package: Conditions of Use and $395 annual package fee applies. You must either hold or be approved for a Westpac Choice transaction account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Applicants must have a Westpac Choice transaction account linked to the home loan at the time of settlement and must keep this account open for 60 days after settlement. Before deciding to acquire a Westpac Choice account, read the terms and conditions, and consider whether the product is right for you. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.
Premier Advantage Package Conditions of Use (PDF 1MB)

**$3k refinance cashback offer: Credit criteria, fees and charges apply. Terms and conditions available at Westpac. $2000 Refinance Cashback per property for new refinance applications received between 23 September 2019 to 31 January 2021 and settle by 31 March 2021. Offer current as at 23 September 2019. Only 1 cashback per property refinance will be paid regardless of the number of loans involved. One $1,000 Bonus Refinance Cashback for a new refinance application submitted between 18 September 2020 to 31 January 2021 and settle by 31 March 2021 with maximum LVR of 80%. Offer current as at 18 September 2020. Only 1 bonus cashback will be paid regardless of the numbers of customers, properties or applications involved. Offers available for Owner Occupier with Principal & Interest repayments and Investment Loans. Offers available on the Premier Advantage Package and Flexi First Option Home Loans. Offers may be varied or withdrawn at any time. $250K min loan per property refinanced applies for the $2000 and $1000 bonus Refinance Cashback. Excludes Portfolio Loans, switches and refinances of home loans within the Westpac Group which include St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans or residential lending originated under family or company trusts. The cashback(s) will be paid into a Westpac Choice transaction account within 60 days of settlement. The transaction account must be linked to the home loan at the time of settlement, and kept open for 60 days after settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters. 

+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the banks valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan. 


Fixed interest rates: Interest rate(s) displayed is for Australian Residents only. The Bank will apply the fixed rate that is available at the loan settlement date. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan interest rate unless a new fixed rate term is selected and then the fixed rate is determined two business days prior to the refix.


1.Customers can make total prepayments of up to $15,000 (cumulative) for loans fixed prior to 21 March 2009, $25,000 (cumulative) for loans fixed between 21 March 2009 and 16 March 2012 or $30,000 (cumulative) for loans fixed on or after 17 March 2012, without costs or fees applying.

2.Subject to Bank's approval.