Rates and offers
Home loan Interest Rates Cheat Sheet
The latest special offers and interest rates to help your clients when choosing us for their home loan needs.
Home Guarantee Scheme
With the Australian Government initiated Home Guarantee Scheme, your clients could fast-track their home ownership dreams with one of three guarantee options.
Special offers and promotional interest rates
Current home loan rates
LVR stands for the initial loan-to-value ratio. The interest rates below are for new loans, and won’t change during the life of your loan as the LVR changes.
- LVR+ up to 70%: you’ll get an extra 0.10% p.a. discount off our standard interest rate if you’re borrowing less than 70% of our property valuation.
- LVR+ above 70% up to 80%: our standard interest rate applies if you're borrowing above 70% and up to 80% of our property valuation.
- LVR+ above 80%: an extra 0.30% p.a. will be applied on top of our standard interest rate if you’re borrowing above 80% of our property valuation.
Fixed Owner Occupied Home Loan interest rates under our home loan package#
Get a 0.20% p.a. discount on Premier Advantage Package# for balances above $150,000 (included in the below rates). Premier Advantage Package Conditions of Use and $395 annual package fee applies.
| Loan | Annual Rate | Comparison Rate^ |
|---|---|---|
| Principal & Interest |
||
1 year standard fixed rate including package discount |
6.19% p.a. |
7.72% p.a. |
|
LVR up to 70% (Includes further discount of 0.10% p.a.) |
6.09% p.a. |
7.62% p.a. |
|
LVR above 70% up to 80% (no change to standard rate) |
6.19% p.a. |
7.72% p.a. |
LVR above 80% (includes margin of 0.30% p.a.) |
6.49% p.a. | 8.01% p.a |
Fixed Investment Property Loan interest rates under our home loan package#
You could get a % p.a. discount on Premier Advantage Package# for balances above $150,000 (included in the below rates). Premier Advantage Package Conditions of Use and $395 annual package fee applies.
| Loan | Annual Rate | Comparison Rate^ |
|---|---|---|
| Principal & Interest |
||
1 year standard fixed rate including package discount |
6.34% p.a. |
8.22% p.a. |
|
LVR up to 70% (Includes further discount of 0.10% p.a.) |
6.24% p.a. |
8.12% p.a. |
|
LVR above 70% up to 80% (no change to standard rate) |
6.34% p.a. |
8.22% p.a. |
LVR above 80% (includes margin of 0.30% p.a.) |
6.64% p.a | 8.51% p.a. |
Flexi First Home Loan variable rates - Special offer on new Owner Occupier Loans
No establishment fee, saving your client $600.
| Loan | Annual Rate | Comparison Rate^ |
|---|---|---|
| Principal & Interest - 2 year promotional rate includes a 1.64% p.a. discount for two years from loan settlement date reverting to a 1.24% p.a. discount for the life of the loan2. Excludes internal refinances within the Westpac Group. | ||
LVR up to 70% (Includes further discount of 0.10% p.a.) |
6.44% p.a. | 6.76% p.a. |
LVR above 70% up to 80% (no change to standard rate) |
6.54% p.a. | 6.86% p.a. |
LVR above 80% (includes margin of 0.30% p.a.) |
6.84% p.a. | 7.16% p.a. |
| Interest Only includes a 0.53% p.a.3 life of loan discount on new Owner Occupier loans with interest only repayments. Excludes internal refinances within Westpac Group. | ||
LVR up to 70% (Includes further discount of 0.10% p.a.) |
8.14% p.a. | 8.14% p.a. |
LVR above 70% up to 80% (no change to standard rate) |
8.24% p.a. | 8.24% p.a. |
Flexi First Investment Loan variable rates - Special offer on new Investment Property Loans
No establishment fee, saving your client $600.
| Loan | Annual Rate | Comparison Rate^ |
|---|---|---|
| Principal & Interest - 2 year promotional rate includes a 1.89% p.a. discount for two years from loan settlement date reverting to a 1.49% p.a. discount for the life of the loan2. Excludes internal refinances within the Westpac Group. | ||
LVR up to 70% (Includes further discount of 0.10% p.a.) |
6.74% p.a. | 7.06% p.a. |
LVR above 70% up to 80% (no change to standard rate) |
6.84% p.a. | 7.16% p.a. |
LVR above 80% (includes margin of 0.30% p.a.) |
7.14% p.a. | 7.46% p.a. |
| Interest Only - 2 year promotional rate includes a 1.65% p.a. discount for two years from loan settlement date reverting to a 1.25% p.a. discount for the life of the loan3. | ||
LVR up to 70% (Includes further discount of 0.10% p.a.) |
7.24% p.a. | 7.56% p.a. |
LVR above 70% up to 80% (no change to standard rate) |
7.34% p.a. | 7.66% p.a. |
LVR above 80% (includes margin of 0.30% p.a.) |
7.64% p.a. | 7.96% p.a. |
Variable Home Loan – Bridging Loans
OO loans only for a period of 12 months
| Loan | Interest Only (IO) Rate | Comparison Rate^ |
|---|---|---|
| Bridging Loan4 | 9.42% p.a. | 9.55% p.a. |
Variable Home Loan - Sustainable Upgrades Home Loan5
An extra home loan or investment loan secured against your property
| Loan | Principal & Interest (P&I) Rate | Comparison Rate^ |
|---|---|---|
| Sustainable Upgrades Home Loan5 | 4.49% p.a. | 4.87% p.a. |
$4k to $50k loan amount on Principal & Interest repayments. 10-year maximum loan term. One Sustainable Upgrades home or investment loan per property.
Fixed Rate Lock-In
Fixed Rate Lock-In* allows your clients to secure an advertised Fixed Interest Rate for up to 90 days before their new Fixed Rate Home Loan settles. Fixed Rate Lock-In is not available for Approval in Principle loans. A full application must be submitted to utilise the Fixed Rate Lock-In option. For a fee of 0.10% of the loan amount, your client is protected from the possibility of rising fixed interest rates. At the end of the fixed rate period the interest rate will convert to the applicable variable home loan rate.
Quick tips, handy tools, and useful guides
Home loan calculators
Things you should know
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. Tax consequences may arise from these promotions for investors and customers should seek independent advice on any taxation matters.
This information's been prepared without taking your clients objectives, needs and overall financial situation into account. For this reason, your client 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 advice on any taxation matters.
If any of the information related to (or provided by) Westpac Group that you rely on is printed, downloaded or stored in any manner on your systems, files or otherwise, please ensure that you update your systems and files with the most up-to-date information provided by us and rely only on such updated information.
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. Your clients must either hold or be approved for a Westpac Choice account in order to qualify and continue to receive the benefits of the Premier Advantage Package. Before deciding to acquire a Westpac Choice account, they should read the terms and conditions, and consider whether the product is right for them
Premier Advantage package Conditions of Use (PDF 120KB)
- For a property to live in (Owner occupier): Offer commences 24/11/2023. Includes a 1.64% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.24% p.a. discount for the life of the loan.
- For an investment property: Offer commences 24/11/2023. Includes a 1.89% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.49% p.a. discount for the life of the loan.
- For a property to live in (Owner Occupier): Offer commences 05/06/2020. Includes a 0.53% p.a. discount off our Flexi First Option Home Loan Variable Rate with Interest Only repayments for the life of loan. Interest rates are subject to change.
- For an investment property: Offer commences 24/11/2023. Includes a 1.65% p.a. discount for two years from the loan settlement date, at the end of the period it will revert to a 1.25% p.a. discount for the life of loan.