Westpac Home Loan Rates


Westpac bank helps you to choose interest rates between 1 to 12 years depending on your repayment capacity. It also gives you the freedom of converting the fixed rate of interest to a variable interest rate.

The establishment fee charged by the bank would be $600 the monthly loan maintainance fee charged by Westpac home

loan is $8.

The repayment method can be weekly, monthly or fortnightly and the preferred method of payment would be direct debit.

The Westpac home loan experts ensure that the entire process of acquiring a home loan and its repayments are made peaceful that is why they stand throughout the entire process till the end. They even give you the option of visiting your home or office at a time that suits you thus saving your time of going to the bank. They give you full information on all the questions asked thus making the entire process of acquiring the housing loan simple.

 

Westpac Home Loan Interest Rate

 

1. Variable Rate Home Loans

 

a. Rocket Repay Home Loan- A mortgage offset account linked to your home loan which saves your interest with respect to each dollar in the account
 
I. Variable rate is 7.86% p.a
II. Discount of up to 0.7% p.a with home laon packages (check the official site for moreinformation)
III.This loan was awarded as Best Featured Home Loan 2007 and 2008 by "Money" magazine
IV.The annual interest rate is mentioned in the table below

 

Amount of Loan
 Term(years) Annual Interest Rate (% p.a.)
$50,000 7 7.86
$70,000 25 7.86
$100,000 25 7.86
$130,000 25 7.86
$150,000 25 7.86
$200,000 25 7.86
$225,000 25 7.86
$250,000 25 7.86
$275,000 30 7.86
$300,000 30 7.86

 

 
b. Rocket Investment Loan- it has flexibile 100% offset account
 
I. Variable rate is 7.86%
II. Pay the rent, salary and savings in the transaction account and get the balance offset daily against the loan
III. The rates are same as above table
 
 
c. Flexi First Option Home Loan- The price home loan has option available on a pay as you use basis.
                         
I. Variable rate is 7.16 % p.a
II. Flexible features are redraw, top-up,and repayment holiday
III. No account keeping fees
IV.Interest only loan available for upto 15 years
 
Amount of Loan
 Term(years) Annual Interest Rate (% p.a.)
$50,000 7 7.16
$70,000 25 7.16
$100,000 25 7.16
$130,000 25 7.16
$150,000 25 7.16
$200,000 25 7.16
$225,000 25 7.16
$250,000 25 7.16
$275,000 30 7.16
$300,000 30 7.16
 
 
d. Flexi First option Investment Loan-Here many features are available
 
 I.  Variable rate is 7.16% p.a
 II. There is no monthly or annual maintenance fees
III.  Flexible features are redraw, top-up,and repayment holiday
IV. Interest only available for up to 15 years
V.  The interest rates are same as mentioned in the table of Flexi First Option Home Loan
 

2. Fixed Rate Home Loans                      
 
a. Fixed options Home Loan- It gives certainty over the repayments with a fixed interest rate loan
 
                         I. One can lock the interest rate for 1 to 5 ,7,10 years
                         II. Extra payments allowed up to $25,000 in fixed rate period without charge.
                         III. Discount up to 0.2%p.a applies to this fixed rate Home Loan when taken with Home Loan package
                         IV. Interest only available for up to 15 years
 
 
Fixed Rate Time period Annual Interest rate (% p.a) After Fixed Rate Time period, the interest rate (% p.a) (SUBJECT TO CHANGE)
1 7.19 7.86
2 7.19 7.86
3 7.29 7.86
4 7.74 7.86
5 7.84 7.86
7 8.24 7.86
10 8.19 7.86

                           

 Common table for all fixed time periods (for loan amount,term)

(Interest rate is according to fixed time period and it is mentioned in the above table)

Amount of Loan
 Term(years)
$15,000 4
$20,000 4
$25,000 5
$30,000 5
$50,000 7
$70,000 25
$100,000 25
$130,000 25
$150,000 25
$200,000 25
$225,000 25
$250,000 25
$275,000 30
$300,000 30

 

b. Fixed rate Investment Property Home Loan

I. One can lock the interest rate for 1 to 5 ,7,9,10,12 years.
II.The Loan amount and term for 1 to 5,7,9,10,12 years are same as mentioned in Fixed options Home Loan
 
Fixed Rate Time period Annual Interest rate (% p.a) After Fixed Rate Time period, the interest rate (% p.a) (SUBJECT TO CHANGE)
1 7.19 7.86
2 7.19 7.86
3 7.29 7.86
4 7.74 7.86
5 7.84 7.86
7 8.24 7.86
9 8.34 7.86
10 8.19 7.86
12 8.39 7.86

 

3. Line of Credit Home Loan- allow to access equity in the property

 
a. Equity Access Loan-
 
I. It allows the user to raise funds for other investments.
                                               II. The variable Equity Access Loan rate is 8.01%  p.a

 

Home Loan Package Discount Rates
Loan Amount Discount on Standard Loan
$150,000-$249,999 0.4% p.a
$250,000-$499,999 0.7% p.a
$500,000 and above 0.7% p.a
 
 
4. Home Loan Package- get interest rate discounts

a. Premier Advantage Package

I. The bank offers a package bundled with the regular banking that could decrease the loan interest.
II. Save on monthly services fees
III. Get bonuses and discounts on superannuation and wealth products
 

For more details on Westpac home loan rates log on to the link given below: http://www.westpac.com.au/personal-banking/home-loans/ or call on 131 900

 


Last Updated On: 2011/07/22

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