Home loan interest rates
Featured 2 year fixed rate
Owner occupiers on principal and interest repayments with a Premier Advantage Package#. For new or existing home loan customers looking to fix all or part of their loans. T&Cs apply.
Fixed options home loan rate
Fixed interest rates
|Home loan product||Fixed interest rate||Comparison rate*|
|Owner occupier: 2 Year Fixed Options Home Loan||2.29% p.a.||3.53% p.a.|
|Investor: 2 Year Fixed Rate Investment Property Loan||2.59% p.a.||4.02% 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||3.03% p.a.1||3.04% p.a.|
|Investor: Flexi First Option Home Loan Investment Property Loan||3.34% p.a2||3.35% p.a.|
The above rates are for new loans with Principal and Interest repayment. Our Flexi First Option Home Loan includes a 0.90% p.a. discount and our Flexi First Option Investment Property Loan includes 1.14% p.a. discount. 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.
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.
Things you should know
The above rates exclude any LVR discounts available for new loans
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.
Fixed interest rates: Interest Rates displayed are for Australian residents only. The Bank will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences, 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 rate and the prevailing Premier Advantage Package discount will apply to that rate.
Rate Lock: 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 revert 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.
*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 account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Before deciding to acquire a Westpac Choice account, read the terms and conditions, and consider whether the product is right for you. Applications for additional individual products must meet our approval guidelines to qualify for relevant package discounts.
1 Offer commences 19 September 2018 and may be varied or withdrawn at any time. This offer is only available on new Flexi First Option Home Loans with Principal and Interest repayments. Rate includes a 0.90% p.a. discount off our Flexi First Option Home Loan Variable Rate for 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 cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discount. Interest rate is subject to change.
2 Offer commences 19 September 2018. This offer is only available on new Flexi First Option Investment Property loans with Principal and Interest repayments. Includes a 1.14% p.a. discount off our Flexi First Option Investment Property Loan Variable Rate for 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. Offer cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. Interest rates are subject to change.