Home loan package

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

^#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 295KB)

⁺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 2.34% p.a. discount on a packaged Rocket Repay owner occupier 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.

^{^^}Monthly $5 Westpac Choice account-keeping fee waived if you meet one of the following:

• You've linked it to your Rocket Repay Home Loan or Rocket Investment Loan as an offset account
• You deposit at least $2,000 each month
• You're under 30 years old, or a full-time tertiary student
• Westpac Choice Concession account holders
• You’re new to Australia, or an expatriate customer (for the first 12 months).

^**Home 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).

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.

²Redraw facility: if you have ‘available funds’ (you’ve made extra home loan repayments) and you’ve activated your redraw facility, you’re free to redraw them with no redraw fee. Up to $100k will be available to redraw from your variable loan online or over the phone each day (unlimited in-branch). For fixed loans you can redraw up to your prepayment threshold during your fixed term. Read our  Home Loan Redraw Authority form (PDF 66KB) for full details.

³Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) which allows eligible persons to claim under it as third party beneficiaries. Access to the benefit of cover under the Credit Card Complimentary Insurance is provided to eligible Westpac cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). If an eligible persons wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, limits and exclusions contained in the Complimentary Insurance Policy Information booklet (PDF 898KB) (PDF 898KB) which may be amended from time to time. This insurance is underwritten by Allianz. Westpac does not guarantee this insurance. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it.

⁴Rewards Points: The earning and redemption of Altitude Points, Velocity Points and Qantas Points are subject to the Altitude Terms and Conditions (PDF 141KB) (PDF 117KB). Purchases that are not eligible to earn Rewards Points are set out in the Altitude Terms and Conditions (PDF 141KB) (PDF 117KB). You do not receive points if you have not paid the Minimum Payment Due in full and on time and in other circumstances. Points earnt for PartPay (PDF 96KB) (PDF 96KB) Purchases are based on the full value of the purchase, and not on each installment amount.​ Qantas and Velocity Points earned during a statement cycle are added to your respective Points balance on a monthly basis.

For Altitude Qantas Platinum cards, earn 0.5 Qantas Points per $1 up to a maximum of $100,000 spent on eligible purchases annually. For Altitude Qantas Black cards, earn 0.75 Qantas Points per $1 up to a maximum of $250,000 spent on eligible purchases annually. This annual limit resets in January each year, based on your statement date. Bonus Points earned are not part of your annual cap.