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Why get a fixed rate home loan?

Lock in some certainty

Get the same interest rate for the duration of the fixed term, from 1-5 years.

Know your repayments

A fixed rate means your repayment amounts will stay the same for your fixed rate term.

Get ahead if you want to

Make additional repayments up to a limit of $30,000 and get ahead on your loan balance.*

Combine with a variable rate

Split your loan by putting your balance into separate fixed and variable rate accounts for the best of both worlds.


Featured 2 year fixed rate

2.29% p.a. (3.53% p.a. comparison rate*) on the Fixed Options Home Loan

Applies to owner occupier home loans with principal and interest repayments with a Premier Advantage Package# ($395 annual package fee applies). LVR+ above 70% up to 80%. Available with new fixed rate loans or to existing variable rate loan customers looking to fix all or part of their loan.  These rates do not apply to existing fixed rate loans.

Credit criteria and T&Cs apply.

Featured fixed rate home loans

Fixed Rate Home Loan

Essentials

  • 2.29% p.a. fixed rate
  • 3.53% p.a. comparison rate^
  • 2-year fixed rate term
  • $395 annual package fee#
  • For Owner Occupiers making Principal & Interest repayments
  • Available with new fixed rate loans or to existing variable rate loan customers looking to fix all or part of their loan. These rates do not apply to existing fixed rate loans.

Special offer

Get $2,000 cash back for each eligible property you refinance with Westpac

For new Owner Occupier with Principal & Interest repayments and Investment loans. $250K min loan per property. Apply before 29 May 2020 and settle by 31 July 2020. Excludes refinances from within Westpac Group.**

Fixed Rate Investment Loan

Essentials

  • 2.59% p.a. fixed rate
  • 4.02% p.a. comparison rate^
  • 2-year fixed rate term
  • $395 annual package fee#
  • For Investors making Principal & Interest repayments
  • Available with new fixed rate loans or to existing variable rate loan customers looking to fix all or part of their loan. These rates do not apply to existing fixed rate loans.

Special offer

Get $2,000 cash back for each eligible property you refinance with Westpac

For new Owner Occupier with Principal & Interest repayments and Investment loans. $250K min loan per property. Apply before 29 May 2020 and settle by 31 July 2020. Excludes refinances from within Westpac Group.**


Frequently asked questions

You may need to pay break costs if you close a fixed rate home loan 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 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 fixed rate loan, request a call back and one of our home finance managers will give you a break cost figure.

You need to speak with one of our home finance managers to break a fixed home loan. To break your existing fixed options home loan, complete a request to call back form or call us on 131 900.

In most cases, if you have a fixed rate home loan, you will be able to switch part or all your balance to a new variable rate loan. Note that this may incur break costs if you are making the change before the end of the fixed rate term.


It is also possible to switch all or part of a variable home loan balance to a fixed rate if you want to. Break costs don’t apply when switching from variable to fixed, although you may need to pay other fees.

A split home loan is when you separate your home loan balance into two different accounts, one with a variable interest rate and one with a fixed interest rate.


Splitting your home loan balance with a fixed and variable interest rate allows you to get the best of both worlds. With the fixed portion of your home loan, you can lock in your interest rate and be certain that your repayment amounts won’t change for the duration of the fixed rate term.


The variable rate portion of your loan lets you take advantage of any interest rate decreases and get ahead with no limit on the amount of extra repayments you can make.

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.