Westpac vs ANZ home loans June 2026

Westpac's lowest variable home loan rate is 6.17% p.a. and ANZ's is 6.44% p.a., a gap of 27 basis points, with Westpac the lower of the two today. Both figures are ranked by comparison rate and refreshed daily, so check features and fees alongside the headline rate before deciding.

Westpac vs ANZ at a glance

Feature	Westpac	ANZ
Lowest variable rate	6.17% p.a.	6.44% p.a.
Lowest 3-year fixed rate	6.54% p.a.	6.49% p.a.
Lowest comparison rate	6.21% p.a.	6.44% p.a.
Products tracked	32	34
Offset available	Yes	Yes
Cashback offer	—	Yes

Westpac or ANZ: which should you pick?

On the lowest advertised variable rate, Westpac sits at 6.17% p.a. and ANZ at 6.44% p.a. On a $500,000 loan over 30 years, that gap works out to roughly $88 a month in repayments, so the rate difference is worth weighing carefully.

Both lenders offer an offset account, so if parking savings against your loan matters to you, neither rules itself out on that front.

The cheapest headline rate isn't always the rate a lender approves on your file. Your loan size, deposit and income all move the number, so the right pick between Westpac and ANZ depends on your scenario, not just the advertised figure.

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

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

As of June 2026, Westpac has the lower headline variable rate at 6.17% p.a., versus 6.44% p.a. for ANZ. Both are ranked by comparison rate and refreshed daily.

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

Beyond the rate, Westpac and ANZ differ on features. Westpac offers an offset account, and ANZ offers one too. Ratesniffers tracks 32 Westpac and 34 ANZ products, ranked by comparison rate and refreshed daily.

Is it worth switching from Westpac to ANZ?

It depends on the gap and your balance. The lowest advertised variable rates differ by 27 basis points today, and on a $500,000 loan even a small gap adds up over the life of the loan. Compare the comparison rate and features, then check the rate each lender would actually approve on your file.

How often are Westpac and ANZ rates updated?

Ratesniffers refreshes both Westpac and ANZ home loan rates daily. Rates can change whenever either lender reprices or the RBA moves the cash rate, so the figures on this page reflect the most recent data we hold rather than a static snapshot.

Go deeper on each lender

Full product ranges, refreshed daily and ranked by comparison rate.