Westpac vs ANZ home loans November 2026

Ratesniffers rates checked 9 November 2026. On the exact owner-occupier principal-and-interest row at 80% LVR, ANZ is sharper on comparison rate by 31 basis points: 6.79% p.a. (6.79% comparison rate) against 6.74% p.a. (7.10% comparison rate) for Westpac. Interest rate and comparison rate come from the same product row.

Rates checked 9 November 2026 · checked daily against each lender's current published pricing · machine-readable at /rates.json

Compare offset accounts and calculate the balance charged interest

Westpac vs ANZ at a glance

Westpac and ANZ on the standard owner-occupier principal-and-interest scenario at 80% LVR, from the matrix snapshot dated 9 November 2026. Fee, feature and policy rows carry their own verification date on each lender page.
Feature	Westpac	ANZ
Compared product	Rocket Home Loan Premier Advantage 70% - 80% LVR $150k+ P&I	Simplicity Plus 70% - 80% LVR Owner Occupied P&I
Variable rate and comparison rate	6.74% p.a. (7.10% comparison rate)	6.79% p.a. (6.79% comparison rate)
3-year fixed rate and comparison rate	7.04% p.a. (7.19% comparison rate)	6.89% p.a. (7.31% comparison rate)
Scope of the compared rate	Owner-occupier, principal and interest, 80% LVR	Owner-occupier, principal and interest, 80% LVR
Published LVR scope	Lends from a 5% deposit with insurance on principal and interest loans, up to 95% for eligible applicants	Lenders mortgage insurance generally applies above 80% of property value
Offset	Available on at least one tracked product	An ANZ One offset account carries a $10 monthly account servicing fee
Redraw	Available on at least one tracked product	Available on at least one tracked product
Package fee	$395 a year for the Premier Advantage Package	No package fee and no set-up or ongoing fee on a new home loan
First home buyer scheme	Listed as a participating lender, 5% Deposit Scheme	Listed as a participating lender, 5% Deposit Scheme
Products tracked	80	73
Approved cashback register	Unavailable	$3,000, conditions apply

Promoted rate comparisons require exact owner-occupier principal-and-interest rows at 80% LVR from the snapshot dated 9 November 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.

Westpac, ANZ and CommBank offset accounts compared

Eligible ANZ Standard Variable loans can link 1 ANZ One offset, Westpac Rocket Repay up to 10, and CommBank Standard Variable Rate up to 99. The same total balance in linked 100% offsets reduces the balance charged interest by the same amount. Multiple accounts help when they let you keep more money linked. With repayments held steady, lower interest can leave more of each repayment to reduce principal.

ANZ Standard Variable supports one linked ANZ One account. See ANZ One rules.
Westpac Rocket Repay supports up to 10 linked Westpac Choice accounts. See Westpac Choice rules.
CommBank Standard Variable Rate supports up to 99 linked Everyday Offset accounts. See Everyday Offset rules.

Product features checked 11 November 2026. These limits apply to the named loans and eligible accounts. Compare the interest rate, fees and repayment terms on your own written quotes. Read ASIC Moneysmart's offset guide.

How much of the loan balance would be charged interest?

Suppose you owe $500,000 and have $20,000 in everyday cash, $10,000 for bills and $5,000 in other savings. Linking just the everyday cash to ANZ One leaves $480,000 subject to interest that day. Linking all three balances to eligible Westpac or CommBank offsets leaves $465,000. Moving all the money into one eligible ANZ One also leaves $465,000 subject to interest.

Compare your balances

Enter Australian whole dollars. The Westpac and CommBank examples assume that all three accounts are eligible and linked. This illustration shows the balance charged interest on one day.

Loan balanceEveryday cashBills savingsOther savings

Which balance is in ANZ One?

ANZ One with the selected balance: $480,000
Westpac or CommBank with all three balances linked: $465,000

To model interest and repayment timing over the life of a loan, use the offset savings calculator.

Is Westpac or ANZ cheaper?

As at 9 November 2026, ANZ is the cheaper of these two products on comparison rate at 80% LVR for owner-occupier principal and interest: 6.79% p.a. (6.79% comparison rate) against 6.74% p.a. (7.10% 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.

Westpac versus ANZ on fees

Fees as at 3 September 2026. Westpac lists $395 a year for the Premier Advantage Package. ANZ lists no package fee and no set-up or ongoing fee on a new home loan. 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.

Westpac versus ANZ for refinancing

Refinancing as at 3 September 2026. Westpac: the Premier Advantage Package waives Rocket Repay's $600 establishment fee and $8 monthly fee. ANZ: no ANZ set-up or ongoing fee applies when you refinance to ANZ. A refinance turns on the comparison rate, the exit and establishment costs on both sides and the LVR the new valuation lands you at.

Westpac versus ANZ for first home buyers

First home buyers, as at 3 September 2026. On the Australian Government 5% Deposit Scheme participating lender list, Westpac is listed and ANZ 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 ANZ 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 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.

Who should choose ANZ

ANZ tends to suit borrowers who want big-four scale and an international banking footprint, borrowers who want a no-ongoing-fee variable loan in Simplicity PLUS, and anyone chasing a long fixed term, since ANZ quotes fixed periods out to ten years where most lenders stop at five. 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 Westpac, ANZ vs NAB, CommBank vs ANZ. Full product detail sits on the Westpac and ANZ lender pages, with the candid write-ups on the Westpac review and the ANZ 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.

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Westpac vs ANZ: frequently asked questions

Do more offset accounts help pay off a home loan faster?

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

At 80% LVR as at 9 November 2026, ANZ is sharper on comparison rate by 31 basis points, at 6.79% p.a. (6.79% comparison rate) against 6.74% p.a. (7.10% comparison rate).

What's the difference between Westpac and ANZ 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 Westpac or ANZ charge a package fee?

Westpac lists $395 a year for the Premier Advantage Package. ANZ lists no package fee and no set-up or ongoing fee on a new home loan. 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 Westpac or ANZ?

Westpac is listed as a participating lender for the Australian Government 5% Deposit Scheme. ANZ 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 Westpac and ANZ both offer an offset account?

Westpac has an offset account on at least one tracked product. ANZ: an ANZ One offset account carries a $10 monthly account servicing fee. 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 Westpac to ANZ?

It depends on the balance, the switching costs and the rate approved on the file. The exact 80% LVR comparison rates dated 9 November 2026 differ by 31 basis points. Weigh that against exit and establishment costs before deciding.

How often are Westpac and ANZ rates updated?

Promoted rate comparisons on this page use exact owner-occupier principal-and-interest rows at 80% LVR from the snapshot dated 9 November 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.