CommBank vs Westpac home loans September 2026

Ratesniffers rates checked 27 August 2026. On the exact owner-occupier principal-and-interest row at 80% LVR, Westpac is sharper on comparison rate by 19 basis points: 6.49% p.a. (6.55% comparison rate) against 6.49% p.a. (6.74% comparison rate) for CommBank. Interest rate and comparison rate come from the same product row.

Rates checked 27 August 2026 · checked daily against each lender's current published pricing · machine-readable at /rates.json

CommBank vs Westpac at a glance

CommBank and Westpac on the standard owner-occupier principal-and-interest scenario at 80% LVR, from the matrix snapshot dated 27 August 2026. Fee, feature and policy rows carry their own verification date on each lender page.
Feature	CommBank	Westpac
Compared product	Simple Home Loan (Owner Occupied)	Flexi First : Our lowest online variable home loan rate (Owner Occupied)
Variable rate and comparison rate	6.49% p.a. (6.74% comparison rate)	6.49% p.a. (6.55% comparison rate)
3-year fixed rate and comparison rate	Unavailable	Unavailable
Scope of the compared rate	Owner-occupier, principal and interest, 80% LVR	Owner-occupier, principal and interest, 80% LVR
Published LVR scope	Insurance or CommBank's own Low Deposit Premium applies where the deposit is under 20%	Lends from a 5% deposit with insurance on principal and interest loans, up to 95% for eligible applicants
Offset	Available on at least one tracked product	Available on at least one tracked product
Redraw	Available on at least one tracked product	Available on at least one tracked product
Package fee	$395 a year for the Wealth Package, paid in advance	$395 a year for the Premier Advantage Package
First home buyer scheme	Listed as a participating lender, 5% Deposit Scheme	Listed as a participating lender, 5% Deposit Scheme
Products tracked	77	80
Approved cashback register	Unavailable	Unavailable

Promoted rate comparisons require exact owner-occupier principal-and-interest rows at 80% LVR from the snapshot dated 27 August 2026, on both sides. “Unavailable” means a two-sided comparison cannot be substantiated, not that a lender has no product or no such feature.

*Important Information and Comparison Rate Warning

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.

Is CommBank or Westpac cheaper?

As at 27 August 2026, Westpac is the cheaper of these two products on comparison rate at 80% LVR for owner-occupier principal and interest: 6.49% p.a. (6.55% comparison rate) against 6.49% p.a. (6.74% comparison rate). On a $500,000 loan over 30 years the headline gap is about $0 a month before fees. Approved pricing still varies by file.

CommBank versus Westpac on fees

Fees as at 3 September 2026. CommBank lists $395 a year for the Wealth Package, paid in advance. Westpac lists $395 a year for the Premier Advantage Package. The comparison rate folds ongoing fees into the figure, so a sharper headline rate paired with a higher annual fee can finish behind a plainer loan.

CommBank versus Westpac for refinancing

Refinancing as at 3 September 2026. CommBank: the online discount on the Standard Variable Rate and Simple Home Loan needs a $150,000 balance. Westpac: the Premier Advantage Package waives Rocket Repay's $600 establishment fee and $8 monthly fee. A refinance turns on the comparison rate, the exit and establishment costs on both sides and the LVR the new valuation lands you at.

CommBank versus Westpac for first home buyers

First home buyers, as at 3 September 2026. On the Australian Government 5% Deposit Scheme participating lender list, CommBank is listed and Westpac is listed. Eligibility rules and property price caps apply either way, and a lender that is not listed can still lend at a low deposit with lenders mortgage insurance payable.

Which suits an investor?

For an investor, as at 3 September 2026. Westpac: investors can take interest-only repayments for up to 15 years, capped at 80% of property value. No verified investor record is published for CommBank yet, so only one side is described here. Investor pricing, interest-only terms and LVR ceilings sit apart from the owner-occupier row this page compares.

Who should choose CommBank

CommBank tends to suit borrowers who want maximum branch and service coverage, the full product menu, and the convenience of Australia's biggest banking platform. The comparison table above is the price check, and this section is the fit check. Features, service model and eligibility all move the outcome on a real file. Compare the two on the way you actually use a loan, not only on the advertised figure.

Who should choose Westpac

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. The comparison table above is the price check, and this section is the fit check.

Head-to-heads that share a lender with this one: CommBank vs NAB, Westpac vs ANZ, CommBank vs ANZ. Full product detail sits on the CommBank and Westpac lender pages, with the candid write-ups on the CommBank review and the Westpac review.

Not sure which one fits your scenario?

Advertised rates aren’t always the rate a lender approves. Get the sharper of the two negotiated against your specific numbers, at no cost.

Compare my options

CommBank vs Westpac: frequently asked questions

Who has the lower home loan rate, CommBank or Westpac?

At 80% LVR as at 27 August 2026, Westpac is sharper on comparison rate by 19 basis points, at 6.49% p.a. (6.55% comparison rate) against 6.49% p.a. (6.74% comparison rate).

What's the difference between CommBank and Westpac home loans?

Beyond the rate, compare offset coverage, redraw rules, package fees, published LVR scope and deposit-scheme participation. The table above carries each of those where the fact has been verified against the lender's own documents, and reads "Unavailable" where it has not.

Does CommBank or Westpac charge a package fee?

CommBank lists $395 a year for the Wealth Package, paid in advance. Westpac lists $395 a year for the Premier Advantage Package. The comparison rate already folds ongoing fees into the figure, so weigh the annual fee against the headline rate rather than reading either on its own.

Can first home buyers use the 5% Deposit Scheme with CommBank or Westpac?

CommBank is listed as a participating lender for the Australian Government 5% Deposit Scheme. Westpac is listed as a participating lender for the Australian Government 5% Deposit Scheme. The scheme's eligibility rules and property price caps apply regardless, and the current participating lender list is the primary check.

Do CommBank and Westpac both offer an offset account?

CommBank has an offset account on at least one tracked product. Westpac has an offset account on at least one tracked product. Offset rules differ by product, so check the offset terms on the specific loan rather than at the brand level.

Is it worth switching from CommBank to Westpac?

It depends on the balance, the switching costs and the rate approved on the file. The exact 80% LVR comparison rates dated 27 August 2026 differ by 19 basis points. Weigh that against exit and establishment costs before deciding.

How often are CommBank and Westpac rates updated?

Promoted rate comparisons on this page use exact owner-occupier principal-and-interest rows at 80% LVR from the snapshot dated 27 August 2026, checked daily against each lender's current published pricing. Fee, feature and policy rows carry their own verification date and do not drive a rate winner.