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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.

Get ahead on your loan

You can make extra repayments up to a total of $30,000 on new loans.^

Set up interest only repayments

You can apply to pay interest only for a total of up to 5 years over the life of the loan (a higher rate may apply).

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.

Get more from your home loan

Unlock benefits and discounts with Westpac Premier Advantage Package

Add our Premier Advantage Package# to your home loan for $395 a year and unlock a range of benefits:

  • Get a 0.2% p.a. discount on Premier Advantage Package# for balances above $150,000.
  • Pay no fees for establishment, maintenance, redraw, top-up, portability, switching repayment type.
  • Pay no annual fee on Westpac credit cards, including the Altitude Black credit card. Other fees and charges may apply.
  • Save up to 10%** on your Westpac Home and/or Contents and Landlord Insurance Premiums.

Key home loan fees

See all fees
Set Up Fees Cost
Establishment fee $600 ($0 with Premier Advantage Package#)
Maintenance fee $8/month ($0 with Premier Advantage Package#)
Home Loan increase fee $400 ($0 with Premier Advantage Package#)
Portability (taking your home loan with you) $300 per move ($0 with Premier Advantage Package#)
Fee to re-fix your interest rate at the end of the fixed rate term $150 ($0 with Premier Advantage Package#)
Progress draw setup $300
Fixed rate lock in fee 0.10% of the loan amount

What else can you do with a Westpac Home Loan?

Fixed rate lock-in

Be certain that the fixed rate available on the day of settlement will apply for the duration of your fixed rate term (a fee of 0.1% of the loan balance applies).^^

What could your home loan look like?

Use our home loan calculators to research repayments, borrowing power, stamp duty and more.

Estimate borrowing power

Find out how much you could be able to borrow with a Westpac Home Loan.

Get a sense of repayments

Use our calculator as a guide to what repayments could be on your new home loan.

We can help make each step of your home loan journey simpler.

Ask us to call you

Request a call back from one of our home loan specialists. We’ll be in touch to learn what you need from your loan.

See what you could borrow

Tell us your financial details and we’ll show you how much you could borrow to buy your home.

Go house hunting

Once you get approval in principal, you can start to search for your new home with confidence.

Tell us about your new place

When you’ve found the one, let us know. We’ll evaluate it and confirm all the details with you.3

Settle your loan

Give us your final documents, then sit back – we’ll settle the loan and make sure the funds go where they need to.

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.

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.

^ 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.

Fixed interest rates: 
Interest Rates displayed are for Australian residents only. The Bank will apply the fixed rate that is available at the loan settlement date. 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.

^^ Rate Lock: 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 revert 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.

#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. The cashback will be automatically deposited into this account within 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 1MB)

*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.

2While the RP Data property reports are offered to Westpac customers with the permission of RP Data Pty Ltd t/a CoreLogic Asia Pacific ABN 67 087 759 171, Westpac accepts no responsibility for their accuracy or completeness. We recommend you seek independent advice before making a decision based on this information. While CoreLogic uses commercially reasonable efforts to ensure the CoreLogic Data is current, CoreLogic does not warrant the accuracy, currency or completeness of the CoreLogic Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the CoreLogic Data.


3Valuation is valid for 90 days. Your upfront bank valuation assessment may require further valuation assessment if your property does not fit lending guidelines.