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Home Loans Interest Rates

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Rates for new owner occupier loans

Our rates are based on your loan-to-value ratio (LVR+) at the time your loan’s approved. Your LVR is the amount of your loan compared to Westpac's property valuation, expressed as a percentage. For example, a $400,000 loan to buy a property worth $500,000 means an 80% LVR.

The interest rates below are for new loans, are set based on your initial LVR, and don’t change because of changes to your LVR during the life of the loan.


  

You’ll get an extra 0.10% p.a. discount off our standard interest rate if you’re borrowing up to 70% of Westpac's property valuation. This LVR+ discount’s only available on new loans, and unavailable on our Equity Access Loan.
 

Select a rate type:

The below rates include our 0.10% p.a. discount for LVRs+ of up to 70%.

 

Flexi First Option
Home Loan

Basic loan
Variable rate Comparison rate*
Special offer rate1 1.99% p.a. 2.42% p.a.

Special offer rate includes a 1.84% p.a. discount for 2 years from loan settlement date reverting to a 1.34% p.a. rate discount thereafter1a. Valid from 24th August 2021, excludes internal refinances within the Westpac Group.
 

Rocket Repay Home Loan
Optional offset
Variable rate Comparison rate*
Without Package 4.48% p.a. 4.62% p.a.
With Package# 3.19% p.a. 3.60% p.a.


Our Premier Advantage Package offers a 1.29% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

With our variable rate home loans

  • Your interest rate could change throughout the life of your loan
  • You have the option to fix all or part of your loan anytime (unavailable with Equity Access Loans)
  • You can make unlimited extra repayments.

 

With Principal & Interest repayments:

  • You will be repaying both principal loan amount and the interest
  • Your interest rate may be lower compared to Interest Only.

The below rates include our 0.10% p.a. discount for LVRs+ of up to 70%.

 

Flexi First Option
Home Loan

Basic loan
Variable rate Comparison rate*
Special offer rate1 3.89% p.a. 3.90% p.a.

Special offer rate includes a 0.53% p.a. discount for the life of the loan1b. Excludes internal refinances within the Westpac Group.
 

Rocket Repay Home Loan
Optional offset
Variable rate Comparison rate*
Without Package 5.07% p.a. 5.21% p.a.
With Package# 3.78% p.a. 4.18% p.a.

Equity Access Loan 
Loan type not available for applications from 30 September 2021

Line of credit
Variable rate Comparison rate*
Without Package 5.96% p.a. N/A
With Package# 4.67% p.a. N/A

Our Premier Advantage Package offers a 1.29% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

With our variable rate home loans

  • Your interest rate could change throughout the life of your loan
  • You have the option to fix all or part of your loan anytime (unavailable with Equity Access Loans)
  • You can make unlimited extra repayments.

By repaying Interest Only during a 1-5 year term:

  • Your repayments will be lower (and then increase at the end of your Interest Only term, as your principal needs to be paid back in a shorter timeframe)
  • Your interest rate may be higher compared to Principal & Interest.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

An LVR discount+ of 0.10% p.a. will be applied to the standard rate for all new loans with an up to LVR 70%.



Fixed Options Home Loan

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.19% p.a. 4.41% p.a.
With Package# and
LVR discount+
1.99% p.a. 3.50% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.09% p.a. 4.19% p.a.
With Package# and
LVR discount+
1.89% p.a. 3.38% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.18% p.a. 4.02% p.a.
With Package# and
LVR discount+
1.98% p.a. 3.30% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.69% p.a. 4.02% p.a.
With Package# and
LVR discount+
2.49% p.a. 3.38% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.99% p.a. 4.02% p.a.
With Package# and
LVR discount+
2.79% p.a. 3.45% p.a.

 

With our fixed rate home loan you could:

  • Lock in your rate and repayments for 1-5 years
  • Make up to $30,000 in extra repayments in your fixed term, before break costs apply2
  • Redraw, with no redraw fee or minimum amount
  • Set up your loan so it’s split between fixed and variable (unavailable with Equity Access Loans).

 

With Principal & Interest repayments:

  • You will be repaying both principal loan amount and the interest
  • Your interest rate may be lower compared to Interest Only.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

An LVR discount+ of 0.10% p.a. will be applied to the standard rate for all new loans with an up to LVR 70%.

 


Fixed Options Home Loan

1 year fixed term Fixed rate Comparison rate*
Standard rate 3.79% p.a. 5.08% p.a.
With Package# and
LVR discount+
3.59% p.a. 4.16% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.79% p.a. 4.97% p.a.
With Package# and
LVR discount+
3.59% p.a. 4.14% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.79% p.a. 4.86% p.a.
With Package# and
LVR discount+
3.59% p.a. 4.13% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 4.09% p.a. 4.87% p.a.
With Package# and
LVR discount+
3.89% p.a. 4.21% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 4.09% p.a. 4.80% p.a.
With Package# and
LVR discount+
3.89% p.a. 4.22% p.a.

 

With our fixed rate home loan you could:

  • Lock in your rate and repayments for 1-5 years
  • Make up to $30,000 in extra repayments in your fixed term, before break costs apply2
  • Redraw, with no redraw fee or minimum amount
  • Set up your loan so it’s split between fixed and variable (unavailable with Equity Access Loans).

 

By repaying Interest Only during a 1-5 year term:

  • Your repayments will be lower (and then increase at the end of your Interest Only term, as your principal needs to be paid back in a shorter timeframe)
  • Your interest rate may be higher compared to Principal & Interest.

Rates for new investment loans

Our rates are based on your loan-to-value ratio (LVR+) at the time your loan’s approved. Your LVR is the amount of your loan compared to Westpac's property valuation, expressed as a percentage. For example, a $400,000 loan to buy a property worth $500,000 means an 80% LVR.

The interest rates below are for new loans, are set based on your initial LVR, and don’t change because of changes to your LVR during the life of the loan.


   

You’ll get an extra 0.10% p.a. discount off our standard interest rate if you’re borrowing up to 70% of Westpac's property valuation. This LVR+ discount’s only available on new loans, and unavailable on our Equity Access Loan.
 

Select a rate type:

The below rates include our 0.10% p.a. discount for LVRs+ of up to 70%.

 

Flexi First Option Investment Property Loan Variable rate Comparison rate*
Special offer rate1 2.29% p.a. 2.80% p.a.

Special offer rate includes a 2.09% p.a. discount for 2 years from loan settlement date reverting to a 1.49% p.a. rate discount thereafter1c. Valid from 24th August 2021, excludes internal refinances within the Westpac Group.
 

Rocket Investment Loan
Optional offset
Variable rate Comparison rate*
Without Package 5.03% p.a. 5.17% p.a.
With Package# 3.74% p.a. 4.14% p.a.


Our Premier Advantage Package offers a 1.29% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.



With our variable rate home loans

  • Your interest rate could change throughout the life of your loan
  • You have the option to fix all or part of your loan anytime (unavailable with Equity Access Loans)
  • You can make unlimited extra repayments.


With Principal & Interest repayments:

  • You will be repaying both principal loan amount and the interest
  • Your interest rate may be lower compared to Interest Only.

The below rates include our 0.10% p.a. discount for LVRs+ of up to 70%.

 

Flexi First Option
Investment Property Loan

Basic loan
Variable rate Comparison rate*
Special offer rate1 3.29% p.a. 3.30% p.a.

Special offer rate includes a 1.35% p.a. discount for the life of the loan1d. Excludes internal refinances within the Westpac Group.

 

Rocket Investment Loan
Optional offset
Variable rate Comparison rate*
Without Package 5.29% p.a. 5.43% p.a.
With Package# 4.00% p.a. 4.39% p.a.
Equity Access Loan 
Loan type not available for applications from 30 September 2021

Line of credit
Variable rate Comparison rate*
Without Package 5.96% p.a. N/A
With Package# 4.67% p.a. N/A

Our Premier Advantage Package offers a 1.29% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.



With our variable rate home loans

  • Your interest rate could change throughout the life of your loan
  • You have the option to fix all or part of your loan anytime (unavailable with Equity Access Loans)
  • You can make unlimited extra repayments.


By repaying Interest Only during a 1-5 year term:

  • Your repayments will be lower (and then increase at the end of your Interest Only term, as your principal needs to be paid back in a shorter timeframe)
  • Your interest rate may be higher compared to Principal & Interest.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

An LVR discount+ of 0.10% p.a. will be applied to the standard rate for all new loans with an up to LVR 70%.


Fixed Rate Investment Property Loan

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.69% p.a. 4.94% p.a.
With Package# and
LVR discount+
2.49% p.a. 4.03% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.39% p.a. 4.68% p.a.
With Package# and
LVR discount+
2.19% p.a. 3.87% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.59% p.a. 4.52% p.a.
With Package# and
LVR discount+
2.39% p.a. 3.80% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.19% p.a. 4.54% p.a.
With Package# and
LVR discount+
2.99% p.a. 3.89% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.19% p.a. 4.41% p.a.
With Package# and
LVR discount+
2.99% p.a. 3.84% p.a.

With our fixed rate home loan you could:

  • Lock in your rate and repayments for 1-5 years
  • Make up to $30,000 in extra repayments in your fixed term, before break costs apply2
  • Redraw, with no redraw fee or minimum amount
  • Set up your loan so it’s split between fixed and variable (unavailable with Equity Access Loans).

With Principal & Interest repayments:

  • You will be repaying both principal loan amount and the interest
  • Your interest rate may be lower compared to Interest Only.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

An LVR discount+ of 0.10% p.a. will be applied to the standard rate for all new loans with an up to LVR 70%.


Fixed Rate Investment Property Loan

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.79% p.a. 5.18% p.a.
With Package# and
LVR discount+
2.59% p.a. 4.26% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.59% p.a. 4.93% p.a.
With Package# and
LVR discount+
2.39% p.a. 4.11% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.69% p.a. 4.74% p.a.
With Package# and
LVR discount+
2.49% p.a. 4.01% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.29% p.a. 4.74% p.a.
With Package# and
LVR discount+
3.09% p.a. 4.09% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.29% p.a. 4.60% p.a.
With Package# and
LVR discount+
3.09% p.a. 4.03% p.a.

 

With our fixed rate home loan you could:

  • Lock in your rate and repayments for 1-5 years
  • Make up to $30,000 in extra repayments in your fixed term, before break costs apply2
  • Redraw, with no redraw fee or minimum amount
  • Set up your loan so it’s split between fixed and variable (unavailable with Equity Access Loans).


By repaying Interest Only during a 1-5 year term:

  • Your repayments will be lower (and then increase at the end of your Interest Only term, as your principal needs to be paid back in a shorter timeframe)
  • Your interest rate may be higher compared to Principal & Interest.

The below rates include a 0.20% p.a. discount for repaying Interest Only in Advance3.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

An LVR discount+ of 0.10% p.a. will be applied to the standard rate for all new loans with an up to LVR 70%.


Fixed Rate Investment Property Loan

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.59% 5.16%
With Package# and
LVR discount+
2.39% 4.25%
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.39% 4.89%
With Package# and
LVR discount+
2.19% 4.07%
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.49% 4.68%
With Package# and
LVR discount+
2.29% 3.96%
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.09% 4.67%
With Package# and
LVR discount+
2.89% 4.03%
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.09% 4.52%
With Package# and
LVR discount+
2.89% 3.95%

 

With our fixed rate home loan you could:

  • Lock in your rate and repayments for 1-5 years
  • Make up to $30,000 in extra repayments in your fixed term, before break costs apply2
  • Redraw, with no redraw fee or minimum amount
  • Set up your loan so it’s split between fixed and variable (unavailable with Equity Access Loans).



By repaying Interest Only in Advance during a 1-5 year term:

  • Interest Only in Advance is a repayment option that offers Fixed Rate Investment Property Loan customers an additional interest rate discount for paying 12 months interest in advance.
  • By prepaying interest, you can potentially reduce your tax liability for the coming financial year and conveniently consolidate interest repayments into one lump sum payment.


This is not financial advice: we recommend that you consult your financial adviser to determine the benefits which may be applicable.


Sign in to see your personalised rate

Our standard home loan rates below might be different to your actual rate. To check yours – or to see what your rate would be if you switched from variable to fixed – sign in to your Westpac App or Online Banking.

Check your current rate:
  • On desktop: Click on your loan > Click Account details
  • On iOS: Tap your loan > Tap i
  • On Android and older iOS versions: Tap your loan > Go to the Details tab
     
See your fixed rate offers:

Go into your loan, then:

  • On desktop: Select Switch to a fixed rate home loan 
  • On iOS: Select Home loan settings > Select Switch to a fixed rate 
  • On Android and older iOS version: Go to the Services tab > Select Switch to a fixed rate home loan


Then select Let's get started to view your personalised fixed rates.

 

Sign in to view your rates

Rates for existing owner occupier loans

Select a rate type:

Below are the reference rates for Owner Occupied Home Loans.^

The reference rate is your variable interest rate before any discounts. To find out your reference rate, please refer to your loan contract or contact us on 132 558.
 

Term Variable rate Comparison rate*
Flexi First Rate 3.93% p.a. 3.98% p.a.
Variable Housing Rate
4.58% p.a. 4.72% p.a.
Rocket Variable Rate 4.58% p.a. 4.72% p.a.

Below are the reference rates for Owner Occupied Home Loans.^

The reference rate is your variable interest rate before any discounts. To find out your reference rate, please refer to your loan contract or contact us on 132 558.
 

Term Interest rate Comparison rate*  
Flexi First Interest Only Rate 4.52% p.a. 4.57% p.a.  
Variable Interest Only Housing Rate 5.17% p.a. 5.31% p.a.  
Rocket Interest Only Rate 5.17% p.a. 5.31% p.a.  
Equity Access – Plan 2 Rate

5.96% p.a. N/A  

Below are the fixed interest rates available to fix or re-fix existing loans. 

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

Note that a discount may apply - please refer to your loan contract or call 132 558.

 

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.29% p.a. 4.50% p.a.
With Package#
2.09% p.a. 3.59% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.19% p.a. 4.29% p.a.
With Package# 1.99% p.a. 3.48% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.28% p.a. 4.12% p.a.
With Package# 2.08% p.a. 3.40% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.79% p.a. 4.12% p.a.
With Package# 2.59% p.a. 3.48% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.09% p.a. 4.12% p.a.
With Package# 2.89% p.a. 3.54% p.a.

Learn more about our Fixed Options Home Loan

 

Below are the fixed interest rates available to fix or re-fix existing loans. 

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

Note that a discount may apply - please refer to your loan contract or call 132 558.

 

1 year fixed term Fixed rate Comparison rate*
Standard rate 3.89% p.a. 5.18% p.a.
With Package#
3.69% p.a. 4.26% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.89% p.a. 5.07% p.a.
With Package# 3.69% p.a. 4.24% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.89% p.a. 4.96% p.a.
With Package# 3.69% p.a. 4.23% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 4.19% p.a. 4.97% p.a.
With Package# 3.99% p.a. 4.31% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 4.19% p.a. 4.90% p.a.
With Package# 3.99% p.a. 4.32% p.a.

Learn more about our Fixed Options Home Loan

 

Rates for existing investor loans

Select a rate type:

Below are the reference rates for Investment Property Loans (Residential Investment).^

The reference rate is your variable interest rate before any discounts. To find out your reference rate, please refer to your loan contract or contact us on 132 558.
 

Term Variable rate Comparison rate*
Flexi First Investment Rate 4.48% p.a. 4.53% p.a.
Investment Property Plan 2 Rate 5.13% p.a. 5.27% p.a.
Rocket Investment Rate 5.13% p.a. 5.27% p.a.
SMSF Investment Rate 5.13% p.a. 5.24% p.a.

Below are the reference rates for Investment Property Loans (Residential Investment).^

The reference rate is your variable interest rate before any discounts. To find out your reference rate, please refer to your loan contract or contact us on 132 558.
 

Term Variable rate Comparison rate*
Flexi First Interest Only Invest Rate 4.74% p.a. 4.79% p.a.
Variable Interest Only Invest Rate 5.39% p.a. 5.53% p.a.
Rocket Interest Only Invest Rate 5.39% p.a. 5.53% p.a.
SMSF Interest Only Investment Rate 5.39% p.a. 5.5% p.a.

Below are the fixed interest rates available to fix or re-fix existing loans. 

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.


 

Note that a discount may apply - please refer to your loan contract or call 132 558.

 

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.79% p.a. 5.04% p.a.
With Package#
2.59% p.a. 4.12% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.49% p.a. 4.78% p.a.
With Package# 2.29% p.a. 3.97% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.69% p.a. 4.62% p.a.
With Package# 2.49% p.a. 3.89% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.29% p.a. 4.64% p.a.
With Package# 3.09% p.a. 3.99% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.29% p.a. 4.51% p.a.
With Package# 3.09% p.a. 3.94% p.a.

Learn more about our Fixed Rate Investment Property Loan

 

Below are the fixed interest rates available to fix or re-fix existing loans. 

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.


 

Note that a discount may apply - please refer to your loan contract or call 132 558.

 

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.89% p.a. 5.28% p.a.
With Package#
2.69% p.a. 4.36% p.a.
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.69% p.a. 5.02% p.a.
With Package# 2.49% p.a. 4.21% p.a.
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.79% p.a. 4.83% p.a.
With Package# 2.59% p.a. 4.10% p.a.
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.39% p.a. 4.84% p.a.
With Package# 3.19% p.a. 4.19% p.a.
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.39% p.a. 4.70% p.a.
With Package# 3.19% p.a. 4.13% p.a.

Learn more about our Fixed Rate Investment Property Loan

 

Below are the fixed interest rates available to fix or re-fix existing loans, and include a 0.20% p.a. discount for repaying Interest Only in Advance3.

Our Premier Advantage Package offers a 0.20% p.a. interest rate discount and other product savings, for one $395 annual package fee#. Available on loans over $150,000.

 

Note that a discount may apply - please refer to your loan contract or call 132 558.

 

1 year fixed term Fixed rate Comparison rate*
Standard rate 2.69% 5.26%
With Package#
2.49% 4.34%
2 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.49% 4.99%
With Package# 2.29% 4.17%
3 year fixed term
Fixed rate
Comparison rate*
Standard rate 2.59% 4.78%
With Package# 2.39% 4.05%
4 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.19% 4.77%
With Package# 2.99% 4.12%
5 year fixed term
Fixed rate
Comparison rate*
Standard rate 3.19% 4.62%
With Package# 2.99% 4.05%

Learn more about our Fixed Rate Investment Property Loan

 

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.

 

Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

 

Interest rates are subject to change.


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.  

 

+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 461KB)

 

*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.

 

^For sale products only.

 

  1. Flexi First Option special offer rates

    Special offers are only available on new Flexi First Option Home and Investment Loans. Discounts do not apply to 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:

    1. Owner Occupier loan with Principal & Interest repayments: Offer commences 24/08/2021. Includes a 1.84% p.a. discount off our Flexi First Option Home Loan Variable Rate with Principal & Interest repayments for two years from loan settlement date, at the end of the period it will revert to a 1.34% p.a. discount for the remainder of the life of the loan. 

    2. Owner Occupier loan with Interest Only repayments: Offer commences 5/06/2020. Includes a 0.53% p.a. discount off our Flexi First Option Home Loan Variable Rate with Interest Only repayments for the life of loan. 

    3. Investment loan with Principal & Interest repayments: Offer commences 24/08/2021. Includes a 2.09% p.a. discount off our Flexi First Option Investment Property Loan Variable Rate with Principal & Interest repayments for two years from loan settlement date, at the end of the period it will revert to a 1.49% p.a. discount for the remainder of the life of the loan. 

    4. Investment loan with Interest Only repayments: Offer commences 5/06/2020. Includes a 1.35% p.a. discount off our Flexi First Option Investment Property Loan Variable Rate with Interest Only repayments for the life of loan. 

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  3. Break costs on prepayments and switching: 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. Prepayments exceeding this threshold may incur a break cost and administration fee.

    If at any time before the end of a fixed rate period you switch to another product, interest rate (fixed or variable) or repayment type, then a break cost and administration fee may apply.

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  5. Interest Only in Advance: Interest must be paid in advance annually for each chosen fixed rate term to receive this rate. If after the first year of a fixed rate term interest is no longer paid in advance the Interest Only in Advance discount will be removed for subsequent years.

    Interest Only in Advance Premier Advantage Package (PAP) customers receive a further 0.20% p.a. discount.

    Interest Only in Advance interest rates are available on Fixed Rate Investment Property Loans with fixed rate terms of 1, 2, 3, 4 or 5 years.

    Interest Only in Advance interest rates and discounts apply to new Fixed Rate Investment Property Loan and loans which have been switched into Interest Only in Advance products.  Existing fixed loans are not eligible unless the loan is re-fixed.  Interest Only in Advance discounts are subject to change.

    Subject to Bank's approval. Normal lending criteria apply.

    Other conditions, fees and charges apply.