Westpac Home Loan Rates
Westpac lifted its variable home-loan rates by 0.25 percentage points from 9 October 2026, Ratesniffers records. Every lender's date is in the RBA rate pass-through tracker.
See all four majors on verified rates, pass-through dates and their own cash rate calls: big four home loan rates compared.
A verified Westpac product example is Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I: 6.74% p.a. (7.10% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
A verified Westpac product example is Premier Advantage 3 Year Fixed Owner Occupied 70% - 80% LVR P&I: 7.04% p.a. (7.19% comparison rate), 36-month fixed, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
A verified Westpac product example is Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I: 6.74% p.a. (7.10% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
Westpac Banking Corporation is Australia's oldest bank, established in 1817, and one of the Big Four. Headquartered in Sydney, it operates four lending brands (Westpac, St.George, Bank of Melbourne, BankSA) on a shared loan engine. Its Premier Advantage Package is the long-running offset bundle across the group's four brands.
What are Westpac home loan rates?
Ratesniffers compares Westpac home loan products by comparison rate. A verified Westpac product example is Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I: 6.74% p.a. (7.10% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years. A verified Westpac product example is Premier Advantage 3 Year Fixed Owner Occupied 70% - 80% LVR P&I: 7.04% p.a. (7.19% comparison rate), 36-month fixed, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years. Compare Westpac against the wider market on home loan rates, check the comparison rate used to rank the table, or model extra payments with the extra repayments calculator.
What is the lowest Westpac home loan rate?
A verified Westpac product example is Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I: 6.74% p.a. (7.10% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years. A verified Westpac product example is Premier Advantage 3 Year Fixed Owner Occupied 70% - 80% LVR P&I: 7.04% p.a. (7.19% comparison rate), 36-month fixed, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years. These selected examples do not establish the lowest rate across every product or borrower scenario.
How many home loan products does Westpac offer?
Ratesniffers currently tracks 365 Westpac home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 16 that pass our data-quality checks on this page. Every rate is ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest products sit at the top.
What are Westpac fixed home loan rates?
A verified Westpac fixed product example in Ratesniffers' listed-lender panel is Premier Advantage 3 Year Fixed Owner Occupied 70% - 80% LVR P&I: 7.04% p.a. (7.19% comparison rate), 36-month fixed, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. Fixed terms can include break costs and repayment limits. Compare the available terms in our fixed home loan rates table.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
Westpac, St.George, Bank of Melbourne and BankSA share a banking group but keep separate home loan pricing. Compare St.George home loan rates, Bank of Melbourne home loan rates and BankSA home loan rates before choosing between the group's brands. Existing head-to-heads: CommBank vs Westpac and St.George vs Westpac.
Westpac home loan rates at a glance
| Product type | Rate | Comparison rate | Max LVR |
|---|---|---|---|
| Fixed 4-year Investor P&I | 7.94% p.a. | 9.25% p.a. | 95% |
| Fixed 1-year Investor P&I | 6.94% p.a. | 9.26% p.a. | 95% |
| Fixed 1-year Owner-occupier P&I | 7.34% p.a. | 9.27% p.a. | 95% |
| Fixed 3-year Investor P&I | 7.69% p.a. | 9.34% p.a. | 95% |
| Fixed 1-year Investor P&I | 7.04% p.a. | 9.36% p.a. | 70% |
| Fixed 1-year Investor P&I | 7.14% p.a. | 9.46% p.a. | 80% |
| Fixed 2-year Investor P&I | 7.44% p.a. | 9.50% p.a. | 95% |
| Variable Owner-occupier P&I | 9.38% p.a. | 9.51% p.a. | 95% |
| Variable Owner-occupier interest-only | 9.57% p.a. | n/a | 70% |
| Variable Investor P&I | 9.53% p.a. | 9.66% p.a. | 70% |
| Variable Owner-occupier interest-only | 9.67% p.a. | n/a | 80% |
| Fixed 1-year Investor P&I | 7.44% p.a. | 9.76% p.a. | 95% |
16 of 365 tracked Westpac home loan products
Average monthly interest assuming that balance and rate stay unchanged, excluding fees and offsets. Amounts can vary by month because lenders may calculate interest daily; later repayments may differ.
Average monthly interest assuming that balance and rate stay unchanged, excluding fees and offsets. Amounts can vary by month because lenders may calculate interest daily; later repayments may differ.
Average monthly interest assuming that balance and rate stay unchanged, excluding fees and offsets. Amounts can vary by month because lenders may calculate interest daily; later repayments may differ.
Average monthly interest assuming that balance and rate stay unchanged, excluding fees and offsets. Amounts can vary by month because lenders may calculate interest daily; later repayments may differ.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Who is Westpac?
Westpac is Australia's oldest bank, founded in 1817 as the Bank of New South Wales and one of the country's big four alongside Commonwealth Bank, ANZ and NAB. It took the Westpac name in 1982 after merging with the Commercial Bank of Australia in what was then Australia's largest bank merger, and it now holds close to a fifth of the national home loan market.
The wider Westpac Group also owns St.George Bank, Bank of Melbourne and BankSA as separately branded lenders, each pricing its own product range, so it is worth comparing across the group rather than assuming Westpac itself is the sharpest deal. In November 2025 Westpac extended its moratorium on closing regional branches through to 2030, alongside a new mobile-banker pilot visiting regional New South Wales towns that do not have an existing branch.
Who suits a Westpac home loan?
Westpac tends to suit borrowers who want big-four scale and product breadth with an extended commitment to regional branch access, and those who might find a sharper deal from one of its other group brands (St.George, Bank of Melbourne or BankSA) depending on where they live. Its headline and package rates don't always lead the market though, so compare its comparison rate against the sharpest in the table above before assuming size means the best price.
Background facts checked 5 September 2026. Rates above refresh independently.
Westpac home loan products explained
The line-up as published by Westpac, checked 5 September 2026. Today's rate for each product is in the table above.
| Product | Who it is for | What to know |
|---|---|---|
| Flexi First Option Home Loan | Owner-occupiers and investors who want a basic variable loan with no ongoing fees. | No offset account, unlimited extra repayments, free redraw, $0 establishment fee and $0 monthly fee, maximum 80% LVR. Not available to company or trust borrowers, or for bridging, construction or internal refinances. |
| Rocket Repay Home Loan | Borrowers who want offset accounts and the option to fix part of the loan. | Up to 10 full offset accounts per loan, unlimited extra repayments, option to fix a portion, $600 establishment fee and $8 monthly fee unless packaged. |
| Fixed Rate Home Loan | Owner-occupiers and investors who want repayment certainty. | Fixed terms from one to five years, can be packaged under the Premier Advantage Package. |
| Premier Advantage Package | Borrowers with more than $150,000 in eligible lending who want Rocket Repay or fixed loans bundled. | $395 annual fee covering every packaged loan regardless of count, waives the lending establishment fee and monthly loan account fees, package discounts on loans over $150,000. |
Westpac fees, offset and limits at a glance
- Application or establishment fee
- Refer to Westpac
- Discharge fee
- $250
- Settlement fee
- $0
- Additional valuation fee
- $165
- Rate lock fee
- 0.10% of loan amount. Rate Lock not available for construction loans.
- Loan portability
- Up to $350 per move
- Offset account
- Rocket Repay Home Loan (Owner Occupied) and Rocket Investment Loan (Investors). 100% offset
- Minimum offset balance
- > $0
- Lenders mortgage insurer
- ARCH Lenders Mortgage Insurance
- Capitalising LMI
- Owner Occupied: 95% (90% for refinances) for Owner Occupied inclusive of capitalised LMI.…
- Maximum total lending
- Based on serviceability
- Extra repayments on fixed
- $30k for fixed term. Able to redraw additional payments made during fixed rate term with no redraw fee.…
- When the fixed rate is locked
- Rate set at settlement but can pay fee to fix. Rate Lock not available for construction loans.
Checked 8 Oct 2026. Lender fees and policy change without notice, so confirm the detail with the lender before you apply.
Westpac home loan fees and policy
- Flexi First Option carries a $0 establishment fee and $0 monthly loan account fee; the only standard upfront charge listed is a $100 document processing fee.
- Rocket Repay lists a $600 establishment fee and an $8 monthly account fee, both waived under the $395 a year Premier Advantage Package, which also covers fixed rate loans however many loans you hold.
- Westpac is a participating lender in the Australian Government 5% Deposit Scheme: eligible first home buyers from a 5% deposit and eligible single parents from 2%, owner-occupier principal and interest loans only, with no LMI.
- Outside the scheme, Westpac lends from a 5% deposit with LMI on principal and interest loans, up to 95% LVR for eligible applicants, offers a Family Security Guarantee, and waives LMI up to 90% LVR for eligible registered nurses, midwives and listed allied health professionals earning at least $90,000 a year (the threshold can be met jointly where both applicants qualify), and up to 95% LVR with no income floor for eligible doctors and dentists.
- Investors can take interest-only repayments for up to 15 years, against 5 years for owner-occupiers, capped at 80% LVR.
Sources checked 5 September 2026: www.westpac.com.au, www.westpac.com.au, www.westpac.com.au, www.westpac.com.au, www.westpac.com.au, www.westpac.com.au, Westpac, home ownership support for nurses, midwives and healthcare professionals, Westpac home loans, Westpac Flexi First Option, Westpac Rocket Repay, Westpac first home buyers, Westpac 5% Deposit Scheme, Westpac investing in property.