Manage my home loan online
Fine-tune your home loan in your own time.
Home Loan Interest Rate News
Tuesday, 20 May 2025
Reserve Bank of Australia Cash Rate Update
Following the Reserve Bank of Australia’s (RBA) decision to decrease the official cash rate, Westpac announced a 0.25% per annum (p.a.) decrease to our variable home loan interest rates, for new and existing home loans.
These variable rate changes will come into effect on Tuesday 3rd June 2025.
Find out about interest rate news and estimate your new repayments.
Self-serve in your own time
Check out all the things you can do with Australia's #1 banking app1 and Online Banking:
- Activate or use my redraw
- Link an offset account
- Set up a Direct Debit or recurring payment
- Adjust my repayments
- Switch to eStatements
- Check my current rate
- View my property insights
- Make a progress payment to my builder
- Switch to a fixed rate (split or 100% fixed)
- View my fixed rate expiry options
Sign into the Westpac App or Online Banking to manage your home loan
Go to your dashboard
Sign into the Westpac App, type ‘home loan’ in the Search bar and select Self-serve.
In Online Banking, select your home loan, then the ‘More’ dropdown to view options.
Easy-to-follow steps
Follow your Smart Search or account services prompts to complete your request
Having trouble?
If you can’t find what you’re looking for, please call us on 132 558 or book a callback.
Rate review tip #1
We love having you around. So whenever life changes, we're on hand to review your rate and options. We can also tweak your variable home loan with no fee to split or fix your loan, or change to an Interest Only term*.
I want to...
All Westpac fixed and variable home loans come with a redraw facility that lets you make extra repayments, and tap into these ‘available’ funds should you need them (other lenders may not let you redraw from a fixed home loan).
- 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. And there’s no minimum amount or redraw fee2. There may be a fixed loan break cost+ if you prepay over $30k or adjust your loan within your fixed term.
To redraw, select your home loan account and select Transfer to move funds to a Westpac account, or select Pay to transfer to another bank account.
Haven’t set up your redraw?
To activate redraw, go to Home loan settings, then Manage redraw and follow the instructions.
If you have a Rocket Repay Home Loan or a Rocket Investment Loan, you can link up to 10 offsets in the Westpac App or Online Banking.
You’ll need a Choice account under your name, or you and your joint borrower’s name. Linking can take up to 5 business days from request.
To link:
- In the Westpac App: search Manage offset accounts in the Smart Search bar
- Or in Online Banking: go to Service > Account services > select Manage offset accounts
- Follow the prompts
To unlink, select your linked offset account and follow the prompts ($5 monthly Choice account fee may apply3)
Offsets are simply transaction Choice accounts linked to your home loan. Every dollar in every offset counts towards offsetting (lowering) the daily home loan interest charged.
- Up to 10 offsets per home loan
- Monthly Choice account fee waived when linked
- Each offset can only link to one home loan
- Got a joint loan? Offsets can be linked in single or joint names
- Choice accounts of someone not on the loan can’t be linked
- You can name offsets e.g. ‘Amy holiday offset’.
- Separate finances: single, joint, personal and investments
- Income: salary credit directly into an offset for maximum home loan interest savings
- Expenses: set & forget payments from an offset e.g. home loan, total monthly credit card balance, bills
- Savings: leave spare funds in an offset
Direct Debit
Never miss an automated repayment, even if your minimum repayment amount changes. For Principal & Interest repayments, you can also change the frequency^ from monthly to weekly or fortnightly.
From a Westpac account in your name:
- Westpac App: type home loan Direct Debit in the search bar and follow the prompts.
- Online Banking: select Manage direct debit and follow the prompts.
From a non-Westpac account:
Download, complete and return the relevant form (to your local branch, or scan and email loanmaintenance@mortgage.westpac.com.au
- Principal & Interest home loans - Direct Debit request form
- Interest Only home loans - Direct Debit request form
Recurring or repeat payments
Instead of, or in addition to a Direct Debit, you can schedule a payment.
We can help you every step of the way, from updating security to releasing your loan.
Buying another property
- Buying your next home or investment
- Portability: keeping your loan when selling and buying
- Buying first with a bridging loan, then selling
- Building a new home with a construction loan (and progress payment option)
Funding your plans using equity
Use our equity calculator, then explore a home loan increase or applying for a supplementary loan.
Renos
To see your balance, click on your home loan account.
Check your loan account details
To check your rate and repayments, including any extra repayments you've made:
- Westpac App – tap your home loan account and tap the (i) icon to find your rate
- Online Banking – select your home loan account and select Account details, then General.
Some reasons you might think about a 1-5 year term of lower repayments on Interest Only (1-10 years for investors):
- Boosting cash flow when life changes
- Getting through a tough patch
- As part of an Investment property strategy
Here's what you could do (for eligible loans):
- Make extra repayments
- Repay more often
- Lower your interest
- Book an appointment to review your loan and ensure you’re on the right deal.
- Package your loan for a rate discount, for a $395 annual package fee#.
- Use an offset account to lower your Rocket Repay balance and save on interest. To link an offset, sign in, find your Rocket Repay account and select Link offset.
In the Westpac App, search eStatements in the Smart Search bar, and follow the prompts.
In Online Banking, select Service on the menu bar. Under Your preferences select Statement settings, then follow the prompts.
If you already have a variable home loan with us, it’s simple to fix all or a portion of your loan online. Before fixing your entire loan, you’ll need to consider what you want to do with any offset funds or any funds ‘available’ for redraw.
You could roll onto our variable rate, re-fix, split your loan or switch back to fixed later.
6-8 weeks before your fixed home loan expires, you can view your latest interest rate options. Simply select your home loan, Account details, then the View options link.
Your insights & support
My property dashboard
View the properties that secure your Westpac home loans, all in one place. See their estimated values, your loan snapshot and invaluable portfolio insights.
Adjusting repayments
Your repayments aren’t just a set & forget. You can tweak them over the life of your loan to pay off your loan faster. You may also be able to apply to reduce them in the short term.
Ways to lower mortgage stress
Get support and helpful guidance to assess your current circumstances, which could include reducing your minimum repayments or applying for financial hardship assistance.
Keep your home loan on track
Change can be a good thing, especially if you keep your home ownership goals in sight.
Things you should know
Conditions, credit criteria, fees and charges apply. Based on Westpac's credit criteria, residential lending is not available for Non-Australian Resident borrowers.
Read the Westpac Online Banking Terms and Conditions (PDF 1MB) at westpac.com.au before making a decision and consider whether the product is right for you.
1Westpac received the highest score in Digital experience review among Multi-Channel banks in Forrester’s proprietary 2024 Forrester Digital Experience Review of Australian Mobile Banking Apps conducted between June and July 2024. Forrester reviewed 4 banks’ mobile apps across 18 customer scenarios and combined this with a mobile banking app performance score from Forrester’s proprietary Customer Index Survey in Australia. These findings were then combined with findings from unmoderated usability testing with 40 customers of the included brands. Forrester Research does not endorse any company included in any Digital Experience Review and does not advise any person to select the products or services of any particular company based on the ratings included in such reports.
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.
3Monthly $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).
Offset is available on a Rocket Repay Home Loan or a Rocket Investment Loan. You can link multiple offset accounts to a loan account, but each eligible offset account can link to just one loan account. If any named account holder of a transaction account is not a borrower on the loan account, the loan account cannot be linked to that transaction account.
+Break 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.
#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)
^Changing repayment amount or frequency: Cannot be performed on an interest-only loan. However, you may make extra repayments. For more details on interest-only home loans.
*Interest Only repayments: Conditions apply. It’s important to understand that interest rates for loans with Interest Only repayments are higher. Your repayments will increase at the end of the Interest Only term as the amount you’ve borrowed will need to be paid back in a shorter timeframe. This also means you’ll pay more interest over the life of the loan with an Interest Only repayment term, than if you’d opted to continue paying principal and interest. There’s a maximum of 5 years for Owner Occupied loans and 10 years for Investment loans on Interest Only repayments over the life of the loan. If you’ve had less than this, you may be able to extend the Interest Only repayment term, subject to conditions and a new assessment. You’ll need to start the process well in advance of your expiry date and provide details of your income, expenses and liabilities.