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Featured interest rates

Available on Owner Occupier loans

Variable rate – 2.29% p.a.^ (2.72% p.a. comp. rate*)

A bonus 2-year discounted variable rate on a new Flexi First Option Home Loan with P&I repayments. Includes a 1.64% p.a. discount for 2 years from loan settlement date reverting to a 1.14% p.a. rate discount thereafter^. Valid from 18 September 2020, excludes internal refinances with Westpac Group.

Fixed rate – 1.99% p.a.^^ (3.48% p.a. comp. rate*)

2-year Owner Occupier Fixed Options Home Loan with P&I repayments on the Premier Advantage Package# ($395 annual package fee applies). Available for new loans as well as existing variable rate home loan customers looking to fix all or part of their loans.

Fixed interest rates

Home loan product Fixed interest rate Comparison rate*
Owner occupier: 2 Year Fixed Options Home Loan 1.99% p.a. 3.48% p.a.
Investor: 2 Year Fixed Rate Investment Property Loan 2.29% p.a. 3.97% p.a.

The above rates are for Principal and Interest repayment loans with the Premier Advantage Package# $395 annual package fee.

 

Variable interest rates

Home loan product Variable interest rate Comparison rate*
Owner occupier: Flexi First Option Home Loan (inc. 2yr bonus discount) 2.29% p.a.1 2.72% p.a.
Investor: Flexi First Option Home Loan Investment Property Loan (inc. 2yr bonus discount) 2.59% p.a2 3.10% p.a.

The above rates are for new loans with Principal and Interest repayments. Our Flexi First Option Home Loan includes a 1.64% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.14% p.a. discount for the remainder of the life of loan. Our Flexi First Option Investment Property Loan includes a 1.89% p.a. discount two years from the loan settlement date, at the end of the period it will revert to a 1.29% p.a. discount for the remainder of the life of loan. Excludes refinances from within Westpac Group.


Looking for home loan rate discounts?

Get interest rate discounts and other benefits with the Westpac Premier Advantage Package#.

The Premier Advantage Package gives you discounts on home loan interest rates. You'll also pay no establishment or monthly fees on your home loan and no annual card fees on eligible credit cards. Unlock these benefits for $395 a year.

Find out more

View all interest rates

Compare all our home loan interest rates.


 

Calculators

Use these tools to get a sense of what home loan repayments and purchase costs could look like for you.

 

Manage your home loan

Already with Westpac? Use these links to check your current interest rates and loan balances or apply for a loan increase (top-up).

 

Did you know?

With variable interest rate loans, you can contribute as much in extra repayments as you like, with no yearly limit. Variable rate loans also don’t require you to pay break costs if you pay your loan off before the end of its term.

The key difference with fixed rate home loans is that there are limits on the additional repayments you can make. For example, with a Westpac fixed rate home loan, you can make up to $30,000 in additional repayments per fixed period term. You may also need to pay break costs if you want to pay off the balance early.

Westpac Home Loan customers can also choose to split their home loan into two – one loan with a fixed interest rate for a set number of years and one with a variable rate. This way, you can lock in a rate on the fixed portion of your loan and still make extra repayments on both loans to get ahead.

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

$2K for each property refinanced plus a bonus $1K for your first refinance 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 30th June 2021, settle by 30th September 2021. Excludes refinances within Westpac Group. Find out more

Applying is simple, get started online

1. Apply online

Tell us some details about you and see how much you could borrow. Don’t worry, we’ll save as you go and there won’t be a credit check until you’ve spoken with a home finance manager.

2. Talk it through

A home finance manager will be in touch to answer all your questions, and progress things to the next stage.

3. Conditional approval, if needed

We may be able to provide you conditional approval to help you confidently bid or make an offer knowing how much you can afford. Conditional approval is valid for 90 days . Need more time? We can renew it.

4. Full approval

Once we’ve valued your property and completed other verification, we’ll let you know when your application’s been approved. Accept our loan offer and you’re on your way to settlement – congrats!

 

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.

 

 

^^Fixed rate home loan: The Bank will apply the fixed rate that is available at the loan settlement date, unless the customer locks a fixed rate in on the loan using our Rate Lock feature. The Rate Lock fee is 0.10% of the loan amount. 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. Interest rate(s) displayed is for Australian Residents only.  

 

*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.


 

**$3K refinance cashback offer: Credit criteria, fees and charges apply. Terms and conditions available at Westpac. $2,000 Refinance Cashback per property for new refinance applications received between 23rd September 2019 to 30th June 2021 and settled by 30th September 2021. Offer current as at 23rd 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 received between 18th September 2020 to 30th June 2021 and settled by 30th September 2021 with maximum LVR of 80%. Offer current as at 18th September 2020. Only 1 bonus cashback will be paid for the initial application 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 $2,000 and $1,000 bonus Refinance Cashback. Excludes Equity Access 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 in the same name as the home loan account and linked to the home loan at the time of settlement. This account must be 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 Bank’s 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.

 

#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 87KB)

 

  1. Flexi First Option Intro offer: Offer commences 18/09/2020 and may be varied or withdrawn at any time. This offer is only available on new Flexi First Option Home Loans with Principal & Interest repayments. Rate includes a 1.64% p.a. discount off our Flexi First Option Home Loan Variable Rate for two years from the loan settlement date, at the end of the period it will revert to a 1.14% p.a. discount for the remainder of the life of the loan. Excludes internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Interest rate is subject to change.


  2. Offer commences 18/09/2020. This offer is only available on new Flexi First Option Investment Property Loans with Principal & Interest repayments. Rate Includes a 1.89% p.a. discount off our Flexi First Option Investment Property Loan Principal & Interest Variable Rate for two years from the loan settlement date, at the end of the period it will revert to a 1.29% p.a. discount for the remainder of the life of the loan. Excludes internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Offer may be varied or withdrawn at any time. Interest rates are subject to change.