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Key benefits of a fixed rate home loan


Managing your money is easier, because you lock in the same rate and repayments for up to 5 years.

Repay faster and save interest

You can make and redraw up to $30,000 in extra repayments, with no fees or break costs1.

Take your home loan with you

Selling a property and buying a new one? Your existing home loan could go with you at the same rate with no break fees. Conditions apply.

Lock in your home loan rate2

Fix your home loan rate and you’ll guarantee your rate won’t change before settlement. (A 0.1% fee of the loan balance applies).

Save big when you bundle  

  • You could save around $5k in interest in the first year
  • Plus no set up or ongoing home loan fees
  • Plus savings on a Credit Card and Home/Landlord Insurance
  • All for a $395 annual package fee #.

Based on a $400k packaged variable home loan. Eligibility criteria, T&Cs apply.

Featured fixed rate

For a property to live in, with LVR up to 70%

6.49% p.a.

2-yr fixed rate^^


7.57% p.a.

Comparison rate*

Rate includes 0.10% p.a. discount for LVR+ up to 70%. Available on new 2-year Fixed Owner Occupier packaged# home loans, on P&I repayments. $150k min loan. $395 annual package fee and T&Cs apply.

Other rates and fees

Fixed rate terms   1-5 years
Total loan term   Up to 30 years
Repayment frequencies   Weekly, fortnightly, monthly
Repayment types   Principal and Interest, Interest Only, or Interest Only in Advance
Additional repayments   A total of $30,000 over the fixed term with no fees or break costs1
Split with a variable loan   Yes
Redraw extra repayments   Yes
Offset account   No. But you can split with a Rocket Repay home loan, which has an offset account.

Applying is simple, get started online

1. Apply for your home loan now

Apply in around 10-20 mins, or save and come back later. Tell us about you and see how much you could borrow. And don't worry, we'll let you know before the credit check. Need help? You can live chat with us to help you complete the application.

2. Fast approval

You could get unconditional refinance approval the same day you apply. Or conditional approval within 1 business day to help you confidently bid or make an offer for up to 90 days. 

3. Discuss your rate and features with a lender

A dedicated lender will be in touch to go over the finer points of your loan. You’ll have an opportunity to negotiate your rate, as there’s no obligation until you accept your rate and loan offer.

4. On to settlement

Your lender will finalise your loan through to settlement. Accept our loan offer, and that’s it.

Already started an application? Retrieve your application


Already have a home loan with us?

Switch my variable loan to fixed

Select your home loan, then click on Switch to a fixed rate home loan and follow the prompts.


My fixed rate is ending soon


Select your home loan, then go to Account details, click on the banner to view your fixed expiry options.


Frequently asked questions

You may need to pay break costs if you close a fixed rate mortgage account before the fixed rate term has ended. Paying your loan down completely before the end of the fixed term, switching to a variable rate or making more than the maximum amount in extra weekly, fortnightly or monthly repayments are all things that could incur break costs.

Break costs vary depending on the remaining term and balance on your loan. If you want to know what the break costs could be on your current Westpac fixed rate loan, request a call back and one of our home finance managers will give you a break cost figure.

Not quite ready to apply for a home loan?

Things you should know

Conditions, credit criteria, fees and charges apply. Residential lending is not available for Non-Australian Resident borrowers.

This information is general in nature and 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, professional tax advice on any taxation matters before making a decision based on this information.

Key Fact Sheet for Home Loans


*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.


**Available for Owner Occupier and Investment Property Loans with Principal & Interest and Interest only repayments. Excludes Line of Credit, Equity Access Loans.


***Westpac Choice Account: Discretionary fees, such as, but not limited to foreign transaction fees, may apply. 


#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.


+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. 

Package Savings: This is an estimate of potential savings; actual savings may differ depending on your situation. Estimated savings amount calculated on a $400,000 home loan receiving 1.29% p.a. discount on a packaged Rocket Repay variable rate home loan compared to an unpackaged Rocket Repay variable rate home loan. Premier Advantage Package Conditions of Use $395 annual package fee applies.


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.


2Rate Lock: We’ll apply the fixed rate available on the loan settlement date or the date your fixed rate term starts, unless you lock a fixed rate on your loan using our Rate Lock feature. The fixed rate lock-in fee is 0.10% of your loan amount. At the end of the fixed rate term, the interest rate will roll onto our standard variable home loan interest rate, unless a new fixed rate term’s selected and then the fixed rate is determined two business days before the end of the fixed term.


3Interest 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 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.


4Home and Contents Insurance: Premier Advantage Package customers may be eligible for an ongoing premium discount of up to 10% on their Westpac Home and Landlord Insurance policies. If you are also eligible for a combined or other policy discount, Allianz will apply the Package discount to the already discounted premium. This means the effect will be reduced. If you purchase your policy online, the Package discount will be applied after purchase and Allianz will inform you of your revised premium (this may take up to 3 months). Allianz will then provide a refund for premium paid annually or provide a pro rata refund and reduce your remaining monthly instalments. If you take out a Premier Advantage Package after your policy has been issued, then the Package discount will apply from your next renewal. Discounts do not apply to optional covers for Domestic/Landlord workers’ compensation (if available and selected). Any discounts may be subject to rounding and do not apply to taxes or government charges.

Home and Contents and Landlord Insurance are issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 arranges the initial issue of the insurance under a distribution arrangement with Allianz, but does not guarantee the insurance. This information does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement. For more information call Westpac on 1300 650 255.

If you take out Home and Contents or Landlord Insurance with Allianz the Bank will receive a commission of up to 12% of the premium (exclusive of GST).