Westpac Banking Corporation Home Loan



Westpac Banking Corporation Home Loan

One of the oldest Australian banks, Westpac is also counted amongst the four major banking organisations in Australia. Headquartered in Westpac, Sydney, it provides an extensive range of banking and wealth management services. Through its unique portfolio, Westpac supports a client base of 13.9 million.

Westpac Banking Corporation Home Loan Rates

LendersRate of InterestComparison RateRatings
Westpac Banking Corporation undefined Interest Rate

Westpac Banking Corporation

5.84% - 6.79%

7.04% - 7.65%


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Pros & Cons-Westpac Banking Corporation


  • Strict lending policies.
  • Signup Fees.
  • Customer Support.


  • Home Loan for Self-Employed.
  • High Property Value for First Home Buyers.
  • Strict Age Restrictions.

About Westpac Banking Corporation Home Loan

Westpac Home Loan is a financial product provided by Westpac, a multinational bank with offices in Australia and New Zealand. Westpac was founded in 1817 and is one of Australia's four major banks. A Westpac Home Loan can help people buy, refinance, renovate, or invest in a new home. Westpac home loan interest rates are affordable, and a variety of flexible features can make it easier for consumers to manage their home loan budget. Westpac also provides online resources, home loan calculators, and individualised advice to help customers make loan decisions.

Pros and Cons

It is necessary to know the pros and cons of a bank before making a weighted decision like applying for a home loan. The pros and cons of Westpac home loans are given below.


  • A number of home loan products are available to choose from
  • Loans can be bundled with other financial instruments
  • Extensive branch and prompt customer service offering


  • Some loans come with annual packaging fees
  • Some types of customers may face higher Westpac home loan interest rates

Features of a Westpac home loan

Westpac home loan rates are not the only feature of the lender. Westpac home loan has many alluring features that add to its attractiveness. These features are mentioned below. 

  • A 100% offset account is available with a number of Westpac's variable and package home loans.
  • Borrowers can make additional repayments to their loan sum whenever they want with most Westpac home loans, albeit these are limited to a maximum of $30,000 when they choose a fixed home loan.
  • Owner-occupiers and investors can sign up for a package home loan deal from Westpac, which includes additional benefits such as home loan rate, insurance discounts, fee savings, bank account goods and fee exemptions on the credit card.    
  • Borrowers can borrow up to 95% of the property’s value.

Eligibility Criteria

To avail of the best Westpac home loan rates, the applicant must pass through the following parameters set by the bank. The applicant must be:

  • An Australian resident
  • Over 18 years of age.
  • Have a regular source of income.

How to Apply for a Westpac Home Loan?

Apart from the affordable Westpac fixed home loan rates, the bank also provides their customers with a hassle-free Westpac home loan application process. To apply for a Westpac home loan, a borrower must follow the below-mentioned steps.

  • Visit the official website of Westpac.
  • Opt for the ‘Apply Now’ option under the ‘Home Loan’ section
  • Select the suitable option on the newly displayed screen
  • Applicants will be asked to fill out an application form sharing their details and entering the amount to be borrowed.
  • Finally, they will be able to speak to the lender to discuss their Westpac mortgage rates.
  • Upon agreement, the loan application will be processed, and the amount will be disbursed within a few days.

Documents Required for Westpac Home Loan

Borrowers must give particular information when applying for a Westpac home loan. They must make sure to have all of the following documentation ready.

  • Identity Proof
  • Income Proof 
  • Employment Details
  • Details of household expenses and other debts, including personal loans, credit cards and car loans.
  • Self-employed borrowers will need the last two years of company and personal tax returns.

Westpac Home Loan Calculator

The UM Oceania platform is an online financial service-providing platform that allows customers to make informed decisions by using various guides and tools. One such tool is the Westpac home loan calculator. This tool can be used multiple times by a user to gain insight on their Westpac mortgage rates. The Westpac home loan calculator requires users to enter their loan amount, interest rate, repayment frequency and loan tenure.

  • Calling from overseas: (+61 2) 9155 7700

Customer Service for Westpac Home Loan

Westpac home loan borrowers can contact the bank by phoning the customer service centre. Customers can also visit a local branch or request a call back using the online enquiry form. Customers can resolve their queries related to Westpac home loan rates in the following manner.

8 am – 8 pm AEST Monday - Friday
  • General Enquiries: 132 032
  • Existing home loans: 132 558

Frequently Asked Questions

What types of home loans does Westpac offer?

Westpac home loans come with an option of fixed and variable interest rates.

How much can I borrow with a Westpac home loan?

You can borrow up to 95% of the value of the property with a Westpac home loan.

How long does it typically take to get approved for a Westpac home loan?

The loan generally gets disbursed within a few working days.

What happens if I miss a repayment on my Westpac home loan?

Westpac will strike up the repayment process for six days if you miss a repayment. If it doesn’t clear for 14 days, then the over-limit amount to be paid will be interest rate plus 5% p.a.

What support and resources does Westpac offer to home loan borrowers?

Westpac offers its customers 24×7 applications, prompt customer service, Westpac mortgage rates options and tools like various Westpac home loan calculators.


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