Home Loans Interest Rates
Rocket Repay Home Loan
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest |
||
LVR up to 70% (Includes discount of 0.10% p.a.) | 4.48% p.a. | 4.62% p.a. |
LVR above 70% | 4.58% p.a. | 4.72% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 5.07% p.a. | 5.21% p.a. |
LVR above 70% | 5.17% p.a. | 5.31% p.a. |
Rocket Repay Home Loan Premier Advantage Package^{#}
For total package home loans above $150,000.
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate including discount of 1.29% p.a. |
Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.19% p.a. | 3.60% p.a. |
LVR above 70% | 3.29% p.a. | 3.70% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.78% p.a. | 4.18% p.a. |
LVR above 70% | 3.88% p.a. | 4.28% p.a. |
Flexi First Option Home Loan
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.83% p.a. | 3.88% p.a. |
LVR above 70% | 3.93% p.a. | 3.98% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 4.42% p.a. | 4.47% p.a. |
LVR above 70% | 4.52% p.a. | 4.57% p.a. |
Flexi First Option Home Loan variable rate - Special Offer^{2}
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest Includes a 1.64% p.a. discount for two years from loan settlement date reverting to a 1.14% p.a. discount for the life of the loan*. Excludes internal refinances within Westpac Group. |
||
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.19% p.a. | 2.62% p.a. |
LVR above 70% | 2.29% p.a. | 2.72% p.a. |
Interest Only |
||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.89 % p.a. | 3.90 % p.a. |
LVR above 70% | 3.99 % p.a. |
4.00 % p.a. |
Variable interest rate for Equity Access Loan
Loan | Annual Rate |
---|---|
Equity Access Loan | 5.96% p.a. |
Equity Access loan with Premier Advantage package^{#} (discount of 1.29% p.a. included in the interest rate) |
4.67% p.a. |
_{}Fixed Rate Investment Property Loan
LVR^{+} up to 70%: If you are taking out a new home loan, and borrowing less than 70% of the bank's valuation of the property, you could be eligible to get an extra 0.10% p.a. discount off the standard interest rate. This LVR^{+} discount is available to new lending only. If you are looking to fix an existing home loan, the standard fixed rates will apply unless you already have the discount.
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.
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal and interest | ||
1 year standard fixed rate | 2.79% p.a. | 5.04% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.69% p.a. | 4.94% p.a. |
LVR above 70% (no change to standard rate) | 2.79% p.a. | 5.04% p.a. |
2 year standard fixed rate | 2.49% p.a. | 4.78% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.39% p.a. | 4.68% p.a. |
LVR above 70% (no change to standard rate) | 2.49% p.a. | 4.78% p.a. |
3 year standard fixed rate | 2.69% p.a. | 4.62% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.59% p.a. | 4.52% p.a. |
LVR above 70% (no change to standard rate) | 2.69% p.a. | 4.62% p.a. |
4 year standard fixed rate | 2.99% p.a. | 4.54% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.89% p.a. | 4.44% p.a. |
LVR above 70% (no change to standard rate) | 2.99% p.a. | 4.54% p.a. |
5 year standard fixed rate | 2.99% p.a. | 4.39% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.89% p.a. | 4.30% p.a. |
LVR above 70% (no change to standard rate) | 2.99% p.a. | 4.39% p.a. |
Interest only | ||
1 year standard fixed rate | 2.89% p.a. | 5.28% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.79% p.a. | 5.18% p.a. |
LVR above 70% (no change to standard rate) | 2.89% p.a. | 5.28% p.a. |
2 year standard fixed rate | 2.69% p.a. | 5.02% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.59% p.a. | 4.93% p.a. |
LVR above 70% (no change to standard rate) | 2.69% p.a. | 5.02% p.a. |
3 year standard fixed rate | 2.79% p.a. | 4.83% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.69% p.a. | 4.74% p.a. |
LVR above 70% (no change to standard rate) | 2.79% p.a. | 4.83% p.a. |
4 year standard fixed rate | 3.09% p.a. | 4.74% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.99% p.a. | 4.64% p.a. |
LVR above 70% (no change to standard rate) | 3.09% p.a. | 4.74% p.a. |
5 year standard fixed rate | 3.09% p.a. | 4.58% p.a. |
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.99% p.a. | 4.48% p.a. |
LVR above 70% (no change to standard rate) | 3.09% p.a. | 4.58% p.a. |
Fixed Rate Investment Property Loan interest rates under our home loan package, Premier Advantage package^{#}.
You could get a 0.20% p.a. discount on Premier Advantage Package^{#} for balances above $150,000 (included in the below rates). Premier Advantage Package Conditions of Use and $395 annual package fee applies.
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal and interest |
||
1 year standard fixed rate less package discount | 2.59% p.a. | 4.12% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.49% p.a. | 4.03% p.a. |
LVR above 70% (no change to standard rate) | 2.59% p.a. | 4.12% p.a. |
2 year standard fixed rate less package discount | 2.29% p.a. | 3.97% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.19% p.a. | 3.87% p.a. |
LVR above 70% (no change to standard rate) | 2.29% p.a. | 3.97% p.a. |
3 year standard fixed rate less package discount | 2.49% p.a. | 3.89% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.39% p.a. | 3.80% p.a. |
LVR above 70% (no change to standard rate) | 2.49% p.a. | 3.89% p.a. |
4 year standard fixed rate less package discount | 2.79% p.a. | 3.89% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.69% p.a. | 3.80% p.a. |
LVR above 70% (no change to standard rate) | 2.79% p.a. | 3.89% p.a. |
5 year standard fixed rate less package discount | 2.79% p.a. | 3.82% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.69% p.a. | 3.73% p.a. |
LVR above 70% (no change to standard rate) | 2.79% p.a. | 3.82% p.a. |
Interest only | ||
1 year standard fixed rate less package discount | 2.69% p.a. | 4.36% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.59% p.a. | 4.26% p.a. |
LVR above 70% (no change to standard rate) | 2.69% p.a. | 4.36% p.a. |
2 year standard fixed rate less package discount | 2.49% p.a. | 4.21% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.39% p.a. | 4.11% p.a. |
LVR above 70% (no change to standard rate) | 2.49% p.a. | 4.21% p.a. |
3 year standard fixed rate less package discount | 2.59% p.a. | 4.10% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.49% p.a. | 4.01% p.a. |
LVR above 70% (no change to standard rate) | 2.59% p.a. | 4.10% p.a. |
4 year standard fixed rate less package discount | 2.89% p.a. | 4.09% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.79% p.a. | 3.99% p.a. |
LVR above 70% (no change to standard rate) | 2.89% p.a. | 4.09% p.a. |
5 year standard fixed rate less package discount | 2.89% p.a. | 4.01% p.a. |
LVR up to 70% (Includes further discount of 0.10% p.a.) | 2.79% p.a. | 3.91% p.a. |
LVR above 70% (no change to standard rate) | 2.89% p.a. | 4.01% p.a. |
Rocket Investment Loan
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 5.03% p.a. | 5.17% p.a. |
LVR above 70% | 5.13% p.a. | 5.27% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 5.29% p.a. | 5.43% p.a. |
LVR above 70% | 5.39% p.a. | 5.53% p.a. |
Rocket Investment Loan variable interest rates under our home loan package, Premier Advantage Package^{#}.
For total package home loans above $150,000.
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate including discount of 1.29% p.a. |
Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.74% p.a. | 4.14% p.a. |
LVR above 70% | 3.84% p.a. | 4.24% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 4.00% p.a. | 4.39% p.a. |
LVR above 70% | 4.10% p.a. | 4.49% p.a. |
Flexi First Option Investment Property Loan
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 4.38% p.a. | 4.43% p.a. |
LVR above 70% | 4.48% p.a. | 4.53% p.a. |
Interest Only | ||
LVR up to 70% (Includes discount of 0.10% p.a.) | 4.64% p.a. | 4.69% p.a. |
LVR above 70% | 4.74% p.a. | 4.79% p.a. |
Flexi First Option Investment Property Loan - Special Offer^{2}
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.
For example, a loan of $400,000 to buy a property worth $500,000 results in a loan to value ratio of 80%. The interest rates below are for new loans. Home loan rates are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.
Loan | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest Includes a 1.89% p.a. discount for two years from loan settlement date |
||
LVR up to 70% (Includes discount of 0.10% p.a.) | 2.49% p.a. | 3.00% p.a. |
LVR above 70% | 2.59% p.a. | 3.10% p.a. |
Interest Only Includes a 1.35% p.a.**** life of loan discount on new Investment Property loans with interest only repayments. Excludes internal refinances within Westpac Group. |
||
LVR up to 70% (Includes discount of 0.10% p.a.) | 3.29% p.a. | 3.30% p.a. |
LVR above 70% |
3.39% p.a. | 3.40% p.a. |
Variable interest rate for Equity Access Loan
Loan | Annual Rate |
---|---|
Equity Access Loan | 5.96% p.a. |
Equity Access loan with Premier Advantage package^{#} (discount of 1.29% p.a. included in the interest rate) |
4.67% p.a. |
Fixed Options Home Loan Rate
Below are the Fixed Rate Home Loan interest rates available to fix or re-fix existing loans.
Note that a discount may apply – please refer to your loan contract or call 132 558
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
1 year |
2.29% p.a. | 4.50% p.a. |
2 year |
2.09% p.a. | 4.27% p.a. |
3 year | 2.18% p.a. | 4.10% p.a. |
4 year |
2.49% p.a. | 4.02% p.a. |
5 year |
2.79% p.a. | 4.00% p.a. |
Interest Only | ||
1 year |
3.89% p.a. | 5.18% p.a. |
2 year |
3.89% p.a. | 5.07% p.a. |
3 year |
3.89% p.a. | 4.96% p.a. |
4 year |
4.19% p.a. | 4.97% p.a. |
5 year |
4.19% p.a. | 4.90% p.a. |
Fixed Rates Investment Property Loan
Below are the Fixed Rate Home Loan interest rates available to fix or re-fix existing loans.
Note that a discount may apply – please refer to your loan contract or call 132 558
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
1 year |
2.79% p.a. | 5.04% p.a. |
2 year |
2.49% p.a. | 4.78% p.a. |
3 year |
2.69% p.a. | 4.62% p.a. |
4 year |
2.99% p.a. | 4.54% p.a. |
5 year |
2.99% p.a. | 4.39% p.a. |
Interest Only | ||
1 year |
2.89% p.a. | 5.28% p.a. |
2 year |
2.69% p.a. | 5.02% p.a. |
3 year |
2.79% p.a. | 4.83% p.a. |
4 year |
3.09% p.a. | 4.74% p.a. |
5 year |
3.09% p.a. | 4.58% p.a. |
Fixed Option Home Loan interest rates under our home loan package, Premier Advantage package^{#}
Below are the Fixed Rate Home Loan interest rates available to fix or re-fix existing loans.
Get a 0.20% p.a. discount on Premier Advantage Package^{#} for balances above $150,000 (included in the below rates).
Note that a discount may apply – please refer to your loan contract or call 132 558
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal & Interest | ||
1 year standard fixed rate less package discount | 2.09% p.a. | 3.59% p.a. |
2 year standard fixed rate less package discount |
1.89% p.a. | 3.46% p.a. |
3 year standard fixed rate less package discount |
1.98% p.a. | 3.38% p.a. |
4 year standard fixed rate less package discount |
2.29% p.a. | 3.38% p.a. |
5 year standard fixed rate less package discount |
2.59% p.a. | 3.43% p.a. |
Interest Only | ||
1 year standard fixed rate less package discount |
3.69% p.a. | 4.26% p.a. |
2 year standard fixed rate less package discount |
3.69% p.a. | 4.24% p.a. |
3 year standard fixed rate less package discount |
3.69% p.a. | 4.23% p.a. |
4 year standard fixed rate less package discount |
3.99% p.a. | 4.31% p.a. |
5 year standard fixed rate less package discount |
3.99% p.a. | 4.32% p.a. |
Fixed Rates Investment Property Loan with Premier Advantage package^{#}
Below are the Fixed Rate Home Loan interest rates available to fix or re-fix existing loans.
Get a 0.20% p.a. discount on Premier Advantage Package^{#} for balances above $150,000 (included in the below rates).
Note that a discount may apply – please refer to your loan contract or call 132 558
Term | Annual Rate | Comparison Rate^{1} |
---|---|---|
Principal and interest | ||
1 year standard fixed rate less package discount | 2.59% p.a. | 4.12% p.a. |
2 year standard fixed rate less package discount | 2.29% p.a. | 3.97% p.a. |
3 year standard fixed rate less package discount | 2.49% p.a. | 3.89% p.a. |
4 year standard fixed rate less package discount | 2.79% p.a. | 3.89% p.a. |
5 year standard fixed rate less package discount | 2.79% p.a. | 3.82% p.a. |
Interest only | ||
1 year standard fixed rate less package discount | 2.69% p.a. | 4.36% p.a. |
2 year standard fixed rate less package discount | 2.49% p.a. | 4.21% p.a. |
3 year standard fixed rate less package discount | 2.59% p.a. | 4.10% p.a. |
4 year standard fixed rate less package discount | 2.89% p.a. | 4.09% p.a. |
5 year standard fixed rate less package discount | 2.89% p.a. | 4.01% p.a. |
Variable Loans Owner Occupied Reference Rates
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 | Annual Rate | Comparison Rate^{1} |
---|---|---|
Flexi First Rate | 3.93% p.a. | 3.98% p.a. |
Flexi First Interest Only Rate | 4.52% p.a. | 4.57% p.a. |
Variable Housing Rate |
4.58% p.a. | 4.72% p.a. |
Variable Interest Only Housing Rate | 5.17% p.a. | 5.31% p.a. |
Rocket Variable Rate | 4.58% p.a. | 4.72% p.a. |
Rocket Interest Only Rate | 5.17% p.a. | 5.31% p.a. |
Variable Loans Investor Reference Rates
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 | Annual Rate | Comparison Rate^{1} |
---|---|---|
Flexi First Investment Rate | 4.48% p.a. | 4.53% p.a. |
Flexi First Interest Only Invest Rate | 4.74% p.a. | 4.79% p.a. |
Investment Property Plan 2 Rate | 5.13% p.a. | 5.27% p.a. |
Variable Interest Only Invest Rate | 5.39% p.a. | 5.53% p.a. |
Rocket Investment Rate | 5.13% p.a. | 5.27% p.a. |
Rocket Interest Only Invest Rate | 5.39% p.a. | 5.53% p.a. |
SMSF Investment Rate | 5.13% p.a. | 5.24% p.a. |
SMSF Interest Only Investment Rate | 5.39% p.a. | 5.50% p.a. |
Below are the reference rates for ^{}Line of Credit 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.
Variable interest rate for Equity Access Loan
Loan | Annual Rate |
---|---|
Equity Access – Plan 2 Rate | 5.96% p.a. |
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.
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.
#Premier Advantage Package: Conditions of Use and a $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.
Premier Advantage Package Conditions of Use (PDF 95KB)
^{+}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.
^For sale products only.
^{1.}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.
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.
*Offer commences 18/09/2020. Includes a 1.64% 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 1.14% p.a. discount for the remainder of the life of the loan. Interest rates are subject to change.
**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. Interest rates are subject to change.
***Offer commences 18/09/2020. Includes a 1.89% 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 1.29% p.a. discount for the remainder of the life of the loan. Interest rates are subject to change.
****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. Interest rates are subject to change.