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Westpac Fixed Options Home Loan (Premier Advantage Package)

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 70%

The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 70%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR 70%-95%

    Loan: $150,000

  • Owner Occupier (Interest Only)

    LVR < 70%

    Loan: $150,000

  • Owner Occupier (Interest Only)

    LVR 70%-80%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $150,000

Fixed 3 year rate
1.98% p.a.
Comparison Rate
3.38% p.a.
Service fee
$395.00 yearly
Upfront fee
$0
Fixed 3 year rate
3.59% p.a.
Comparison Rate
4.14% p.a.
Service fee
$395.00 yearly
Upfront fee
$0
Fixed 3 year rate
3.69% p.a.
Comparison Rate
4.23% p.a.
Service fee
$395.00 yearly
Upfront fee
$0
Fixed 3 year rate
1.88% p.a.
Comparison Rate
3.29% p.a.
Service fee
$395.00 yearly
Upfront fee
$0

Mozo editorial review Westpac Fixed Options Home Loan (Premier Advantage Package)

Last updated: 9 March 2021.

binocular icon
What's hot
  • 1.99% p.a. (3.29% p.a. comparison rate*) on 4-year terms
  • 1.89% p.a. (3.46% p.a. comparison rate*) on 2-year terms
What's not
  • $395 annual service fee
Mozo snapshot

There’s a lot to like about the Westpac Fixed Options Premier Advantage Package, starting with the super low 1.89% p.a. fixed rate (3.46% p.a. comparison rate*) which is available on 2-year terms. On top of that, there are a few extra features to help make the road to home ownership as smooth as possible, including the ability to make free extra repayments (up to $30,000 over the term) and split your loan between a variable and fixed rate.

key icon
Key features

Westpac’s Premier Advantage Package lets borrowers lock in a rate for one to five years, with interest rates as low as 1.89% p.a. (3.46% p.a. comparison rate*) available on 2-year terms. You’ll be able to make repayments weekly, fortnightly or monthly, and extra repayments are free up to $30,000 over the fixed rate period. 

Refinancers will also appreciate the $2,000 cashback for each property refinanced, along with a bonus $1,000 for the first refinance application. This applies to owner occupier loans (P&I) and investment loans with an LVR of up to 80% and a loan size of at least $250,000 per property. Just keep in mind you’ll have to apply by 31 March 2021 and have your application settled by 30 June 2021.

snapshot
Who is it good for

The Premier Advantage Package from Westpac could be a good fit for those who prefer certainty in their repayments and want to take advantage of some rock-bottom interest rates. There are also some generous perks available to eligible refinancers, though conditions apply.

question icon
Any catches

While there are no upfront fees, a $395 service fee is charged annually. Keep in mind that there is also a $350 discharge fee.

Details

Rates and fees information correct as at 19 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.09% (3.60%*)

  • 1.89% (3.46%*)

  • 1.98% (3.38%*)

  • 1.99% (3.29%*)

  • 2.29% (3.32%*)

  • n/a

  • n/a

  • 3.29% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • none

  • 70.00%

  • 95.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $30,000 in fixed rate period

  • yes

  • yes

  • none

  • yes

  • no

  • none

  • Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.

  • Receive $2,000 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).

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 for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 19 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.59% (4.17%*)

  • 3.59% (4.15%*)

  • 3.59% (4.14%*)

  • 3.89% (4.22%*)

  • 3.89% (4.23%*)

  • n/a

  • n/a

  • 3.78% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • none

  • none

  • 70.00%

Features
  • Monthly

  • yes - free up to $30,000 in fixed rate period

  • yes

  • yes

  • none

  • yes

  • no

  • none

  • Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.

  • none

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 for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 19 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 3.69% (4.27%*)

  • 3.69% (4.25%*)

  • 3.69% (4.23%*)

  • 3.99% (4.32%*)

  • 3.99% (4.33%*)

  • n/a

  • n/a

  • 3.88% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • none

  • 70.00%

  • 80.00%

Features
  • Monthly

  • yes - free up to $30,000 in fixed rate period

  • yes

  • yes

  • none

  • yes

  • no

  • none

  • Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.

  • none

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 for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 19 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 1.99% (3.50%*)

  • 1.79% (3.37%*)

  • 1.88% (3.29%*)

  • 1.89% (3.20%*)

  • 2.19% (3.22%*)

  • n/a

  • n/a

  • 3.19% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $395.00 yearly

  • $350.00

Other financial bits
  • $150,000

  • none

  • none

  • 70.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $30,000 in fixed rate period

  • yes

  • yes

  • none

  • yes

  • no

  • none

  • Package includes $0 monthly fees on transaction account, fee waivers on selected credit cards and discounted insurance products.

  • Receive $2,000 cashback per property plus $1,000 for the first application when you refinance a property of at least $250,000 and an LVR <80% with a Flexi First Option loan or a Premier Advantage Package (excludes refinances from Westpac Group).

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 for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Westpac home loans rated by the Mozo community?

Overall
6.7/10
Price
6.2/10
Features
6.4/10
Customer service
6.9/10
Convenience
7.6/10
Trust
6.6/10

Latest reviews of Westpac Fixed Options Home Loan (Premier Advantage Package)

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About Westpac

As Australia's first bank, Westpac has been serving customers since 1817. Westpac merged with St.George to create Australia's largest financial services company, and customers can enjoy from peace of mind from having the security offered by a major bank behind them. Check out Westpac's range of banking products such as savings accounts, home loans, personal loans, credit cards and other financial services such as its car and home and contents insurance.

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