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.
You can take advantage of a discounted interest rate, as well as waived credit card annual fees and discounted insurance products.
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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.
What fees and charges come with this loan?
- Loan Establishment Fee: This is usually a $600 fee, but you do not pay it as an Advantage Package customer.
- Annual Credit Card Fee: You don't have to pay this if you include your Westpac credit card as part of the package.
- Loan Switching Fee: If you wish to switch your home loan from variable over to a fixed rate you don't have to pay the $300 switching fee.
- Annual Package Fee: The $395 annual package fee can't be avoided; however, it does replace other fees that would usually come with these loans.