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How does a split loan work?

A split home loan gives you the certainty of a fixed loan, with the freedom of a variable loan. You can split any portion of your home loan between fixed and variable interest rates. 


Just enter a few details about your loan below, then slide the scale for an idea of your variable and fixed repayment portions.

Help me choose a loan

Use our selector tool to find the right home loan split that best fits what you’re looking for.


Compare interest rates

Get a snapshot of our fixed or variable interest rates and compare home loan features.

Split home loan hub

Everything you need to know about splitting your home loan, including benefits, tips and FAQs.


How to split your Westpac home loan

New home loan

Buying or refinancing to us? Start applying online and one of our home loan specialists will call and chat through what a split loan means for you. Or if you have a question now, you've got plenty of ways to video chat, call or meet with a lender.


Current home loan

You can fix any portion of your variable rate loan balance anytime, in the Westpac App or Online Banking. How to split your variable rate. There may be a break cost1 if you split your fixed rate loan before your fixed term ends. Book an appointment for a break cost quote. Our home loan selector can also help you decide.

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Things you should know

Conditions, credit criteria, fees and charges apply. 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.

Key Fact Sheet for Home Loans


This calculation isn’t an offer of credit but only an estimate of split loan repayments based on the info provided, and doesn’t include all applicable fees (except for monthly fees). Your repayments may be different when you complete a full application, and we capture all details relevant to our lending criteria. Our lending criteria and basis upon which we assess what you can afford may change at any time without notice. Before acting on this calculation you should seek professional advice.

All interest rates referred to in the calculators are current, as indicated on The interest rates represented on this page may include promotional discounts and are subject to change. When assessing ability to service a loan, Westpac may use an interest rate that’s higher than the current interest rate for the loan requested.

The output of each calculator is subject to the assumptions provided under each calculator and are subject to change. The calculator does not take into account any future refinancing options which may be available, or any product features, grants or applicable bank fees. For details on fees and charges, please go to

*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.


+LVR stands for the loan-to-value ratio. 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 won’t change during the life of the loan as the LVR changes. 


#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 120KB)

^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 Fixed Rate - Lock-In 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. Rate lock is not available for progress draw loans under the construction option.


1Break costs on fixed loan prepayments and switching: customers can make total prepayments of up to $30,000 (cumulative) for fixed loans, without costs or fees applying. You may incur a break cost and administration fee if your prepayments exceed this threshold, or 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.