Major bank lender Westpac has lowered its interest rates for its Fixed Option Home Loans and Fixed Rate Investment Property Loans packages.
 
For loans under the Fixed Option, both four and five-year term now have an interest rate of 4.99%, down from 5.19%. The comparison rates also went down to 5.54% and 5.52%, respectively.
 
Meanwhile, the Fixed Rate Investment Property Loans’ Premier Advantage interest rates for both four and five-year terms are also down to 4.99% from 5.19% (see below).
 
To take advantage of these lowered rates, Westpac requires home loans totalling to $150,000 or more.  

Fixed interest rates on Fixed Option Home Loans under Westpac’s home loan package, Premier Advantage Package.

On new Fixed Option Home Loans where packaged home loans total $150,000 or more.
 
Term Package discount on new loan Fixed interest rate Comparison rate
4 years 0.2% p.a. off
the standard fixed interest rate (conditions apply)
4.99% 5.54%
5 years 0.2% p.a. off
the standard fixed interest rate (conditions apply)
4.99% 5.52%
 
Fixed interest rates on Fixed Rate Investment Property Loans under Westpac’s home loan package, Premier Advantage

On new Fixed Rate Investment Property Loans where packaged home loans total $150,000 or more.
 
Term Package discount on new loan Fixed interest rate Comparison rate
4 years 0.2% p.a. off
the standard fixed interest rate (conditions apply)
4.99% 5.54%
5 years 0.2% p.a. off
the standard fixed interest rate (conditions apply)
4.99% 5.52%
 
 
 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan