Westpac Variable Rate Premier Advantage Package

The Westpac Premier Advantage Package offers you discounts and waived fees when you package your variable rate home loan together with other financial products

If you opt to include a Premier Advantage Package as part of your home loan, the additional discounts available can save you money on interest and fees.

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Review by

Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

In exchange for an annual fee of $395, the Westpac Variable Rate Premier Advantage Package can package your home loan, a transaction account, a 100% offset account and a credit card. The annual package fee means your monthly account fees on each of those accounts and the credit card are waived.

You’ll receive discounts off the standard interest rate for your home loan as well as discounts off personal loans, margin loans and insurance products. If you have money in a savings account, you can also take advantage of bonus interest rates.

About this loan

What are the features and benefits of the Westpac Variable Premier Advantage Package Home Loan?

  • 100% offset account. An offset account is a transaction account linked with your home loan. The funds in your transaction account offset the amount you're charged in interest.
  • Flexible repayment options. Repayments can be made weekly, fortnightly or monthly, and can be principal and interest or interest-only. Additional repayments can be made at any time without penalty.
  • Redraw Facility. If you need those extra funds you have put into your loan back again for any reason you can simply redraw them from your home loan whenever you want to. This can be done using Telephone Banking or online via Internet Banking.
  • Discounts. The Premier Advantage Package offers savings on home loan interest rates and fees, and you won't need to pay the service fee for your Westpac Choice bank account or the annual fee on a range of Westpac credit cards. You will also receive discounts for insurance and other financial products you choose to package with your loan.

How to apply

To find out more about this loan, or to apply, click the 'Go to site' button below. This will take you to the Westpac website where you can arrange a callback or start an application. To arrange a callback, you'll need to enter your contact details.

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    Default Gravatar
    November 15, 2018

    Hello, What is the catch with the Premier Advantage Package? It seems only to help not to have any benefits to the bank? What am I missing?

      Avatarfinder Customer Care
      November 15, 2018

      Hi Steven,

      Thank you for leaving a question.

      The Westpac Premier Advantage Package offers you discounts and waived fees when you package your variable rate home loan together with other financial products. Please see overview of features below:

      100% offset account.
      Flexible repayment options.
      Redraw Facility.

      Hope this helps!


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