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2.09% p.a. (3.50% p.a. comparison rate*)

Featured 2 year fixed 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). 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.

Even more reasons to choose Westpac

Get ahead on your loan

Our variable loans have no cap on extra repayments. Choosing a fixed rate? You can make up to $30k in extra repayments during your fixed rate term.

Don't pay for redraw

Pay no fee to redraw additional repayments if you need extra cash. Simply transfer them back out of your loan account (may be subject to activation on Flexi First Option home loans).

Pause or reduce repayments

Whether you're expecting or faced with the unexpected, you may be able to pause or reduce repayments, provided you're ahead on your variable home loan and are making principal and interest repayments (subject to conditions and approval).

Split your home loan

Split your loan balance into a separate fixed rate account and variable rate account to get the best of both worlds.

Get $3K cashback when you refinance to us**

Apply by 30th November 2021, settle by 28th February 2022. Owner Occupier loans (P&I repayments) and Investment Property Loans, with LVR+ less than 90% and min $250k loan. Flexi First Option or packaged# home loans only ($395 annual package fee). Only one cashback offer available per primary applicant within a 12 month period. Excludes refinances within Westpac Group.

Applying is simple, get started online

1. Apply online

Tell us some details about you and see how much you could borrow. Don’t worry, we’ll save as you go and there won’t be a credit check until you’ve spoken with a home finance manager.

2. Talk it through

A home finance manager will be in touch to answer all your questions, and progress things to the next stage.

3. Full approval

Once we’ve valued your property and completed other verifications, we’ll let you know when your application’s been approved. Accept our loan offer and you’re on your way to settlement – congrats!

 

Already started an application? Retrieve your application

 

What kind of home loan are you looking for?

Compare our home loans

Get a tailored snapshot of our interest rates and loan features.

Fixed rate home loan

Lock in the interest rate for a set term on all or part of your loan amount for peace of mind.

Basic variable rate home loan

Our lowest variable rate home loan with unlimited extra repayments, minus the ongoing fees.

How much could you save?

Compare your loan with ours for a savings estimate

Things you should know

^Flexi First Option Intro offer: Offer commences 24/08/2021 and may be varied or withdrawn at any time. This offer is only available on new Flexi First Option Home Loans with Principal & Interest repayments. Rate includes a 1.84% p.a. discount off our Flexi First Option Home Loan Variable Rate for two years from the loan settlement date, at the end of the period it will revert to a 1.34% p.a. discount for the remainder of the life of the loan. Excludes internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Interest rate is subject to change.

 

^^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 Rate Lock 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.

 

*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.

 

**$3K refinance cashback offer: Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply. Apply between 1st July 2021 to 30th November 2021 and settle by 28th February 2022 for refinance applications. Offer may be varied or withdrawn at any time. Min Loan amount $250k and LVR must be less than 90% (LMI may apply). Offer available for Owner Occupier with Principal & Interest repayments and Investment Property Loans (Principal and Interest & Interest Only repayments). Premier Advantage Package ($395 annual package fee and T&Cs apply) and Flexi First Option Loans. Limit of one $3,000 cashback payment regardless of the number of applications, applicants, properties or loans involved per 12 month period. For joint applications, only one cashback payment will be paid to the primary applicant. Excludes Owner Occupier Interest Only, Equity Access Loans, residential lending originated under family or company trusts and refinances within Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA and RAMS). The cashback will be paid into an open Westpac Choice transaction account within 60 days of settlement. This account must be in the same name as the home loan account and linked to the home loan at settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters. 

 

+LVR stands for the initial loan to value ratio at loan approval. 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 don’t change because of changes to the LVR during the life of the loan.

 

#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 80KB)

 

This calculation is not an offer of credit but an estimate only of what you may be able to borrow based on the information provided and does not include all applicable fees (except for monthly fees). Your borrowing power amount may be different when you complete a full application and we capture all details relevant to our lending criteria. Our lending criteria and basis upon which we assess what you can afford may change at any time without notice. Before acting on this calculation you should seek professional advice.


All interest rates referred to in the calculators are current, as indicated on westpac.com.au. The interest rates represented on this page may include promotional discounts and are subject to change. When assessing ability to service a loan, Westpac may use an interest rate that is higher than the current interest rate for the loan requested.


The output of each calculator is subject to the assumptions provided under each calculator and are subject to change.  The calculator does not take into account any future refinancing options which may be available. The calculator does not take into account any product features, grants or any applicable bank fees.  For details on fees and charges, please go to westpac.com.au.

 

The output or result of these calculators:

  • is subject to the assumptions which are subject to change;
  • is prepared without knowing your personal financial circumstances. Before you act on the output of the calculators, please consider if it’s right for you. If you need more information, please call 1300 786 029.  We recommend that you consult your financial adviser before taking out a loan;
  • does not represent either a quote or pre-qualification for a loan;
  • may not be taken into account if you apply for a loan with us as we will make our own calculations. When assessing ability to service a loan, Westpac may use an interest rate that is higher than the current interest rate for the loan requested.

The interest rates used in the calculator:

  • are current, as indicated on our home loan interest rate pages;
  • are Westpac's standard interest rates and include any package or promotional discounts; and
  • are subject to change.

 

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 Rate Lock 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: 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 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.

 

^^^Special Offers

Special offers are only available on new Flexi First Option Home and Investment Loans. Discounts do not apply to internal refinances or switches within the Westpac Group, which includes refinances from Westpac, St.George, Bank of Melbourne, BankSA and RAMS. Not available to company and trust account holders. Offer may be varied or withdrawn at any time.

Owner Occupied first 2 years

Offer commences 24/08/2021. Includes a 1.84% p.a. discount off our Flexi First Option Home Loan Variable Rate with Principal & Interest repayments for two years from loan settlement date, at the end of the period it will revert to a 1.34% p.a. discount for the remainder of the life of the loan. Interest rates are subject to change.

Owner Occupied year 3 onwards

Offer commences 24/08/2021 and includes a 1.34% p.a. discount off our Flexi First Option Home Loan Variable Rate with Principal & Interest repayments for the life of loan. Interest rates are subject to change.

Investment first 2 years

Offer commences 24/08/2021. Includes a 2.09% p.a. discount off our Flexi First Option Investment Property Loan Variable Rate with Principal & Interest repayments for two years from loan settlement date, at the end of the period it will revert to a 1.49% p.a. discount for the remainder of the life of the loan. Interest rates are subject to change.

Investment year 3 onwards

Offer commences 24/08/2021 and includes a 1.49% p.a. discount off our Flexi First Option Investment Property Loan Variable Rate with Principal & Interest repayments for the life of loan. Interest rates are subject to change.

 

++Potential savings: gives an indication of the amount you could save on new repayments if you switched to the Westpac home loan example, with calculations based on monthly repayments, in respect to the original amount, annual interest rate and term you entered. Potential savings over the life of your loan are based on the difference between estimated total interest on your current home loan and the Westpac home loan. Loan term reduction amount is based on the time you could save by paying off the Westpac home loan if you increased your repayments. Extra interest you could save calculation is based on increasing your repayments on the Westpac home loan.