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.

Westpac and Velocity special offer

Westpac has partnered with Velocity to offer Velocity Frequent Flyer Points to new Premier Advantage Package home loan customers. Borrowers who take out a home loan of $250,000 or more can receive 200,000 Velocity Points, while borrowers who take out a home loan of $1,000,000 or more can receive 500,000 Velocity Points.
The offer is available to new borrowers who apply for the Premier Advantage Package between 01 October 2018 and 31 January 2019 and who settle by 31 March 2019. A $395 package fee and other terms and conditions apply.

Interest Rate Max Insured LVR Max LVR
Equity Access ($150,000 to $249,999)
5.96% p.a.
Comparison Rate
95% 80%
Equity Access ($250,000 to $499,999)
5.76% p.a.
Comparison Rate
95% 80%
Equity Access ($500,000 to $749,999)
5.71% p.a.
Comparison Rate
95% 80%
Equity Access ($750,000 and above)
5.66% p.a.
Comparison Rate
95% 80%
Rocket Investment ($150,000 to $249,999, IO)
5.84% p.a.
Comparison Rate
6.19% p.a.
95% 80%
Rocket Investment ($150,000 to $249,999, P&I)
5.33% p.a.
Comparison Rate
5.69% p.a.
95% 80%
Rocket Investment ($250,000 to $499,999, IO)
5.64% p.a.
Comparison Rate
6.00% p.a.
95% 80%
Rocket Investment ($250,000 to $499,999, P&I)
5.13% p.a.
Comparison Rate
5.50% p.a.
95% 80%
Rocket Investment ($500,000 to $749,999, IO)
5.59% p.a.
Comparison Rate
5.95% p.a.
95% 80%
Rocket Investment ($500,000 to $749,999, P&I)
5.08% p.a.
Comparison Rate
5.45% p.a.
95% 80%
Rocket Investment ($750,000 and above, IO)
5.54% p.a.
Comparison Rate
5.90% p.a.
95% 80%
Rocket Investment ($750,000 and above, P&I)
5.03% p.a.
Comparison Rate
5.40% p.a.
95% 80%
Rocket Repay ($150,000 to $249,999, IO)
5.37% p.a.
Comparison Rate
5.73% p.a.
95% 80%
Rocket Repay ($150,000 to $249,999, P&I)
4.78% p.a.
Comparison Rate
5.16% p.a.
95% 80%
Rocket Repay ($250,000 to $499,999, IO)
5.17% p.a.
Comparison Rate
5.54% p.a.
95% 80%
Rocket Repay ($250,000 to $499,999, P&I)
4.58% p.a.
Comparison Rate
4.96% p.a.
95% 80%
Rocket Repay ($500,000 to $749,999, IO)
5.12% p.a.
Comparison Rate
5.49% p.a.
95% 80%
Rocket Repay ($500,000 to $749,999, P&I)
4.53% p.a.
Comparison Rate
4.91% p.a.
95% 80%
Rocket Repay ($750,000 and above, IO)
5.07% p.a.
Comparison Rate
5.44% p.a.
95% 80%
Rocket Repay ($750,000 and above, P&I)
4.48% p.a.
Comparison Rate
4.86% p.a.
95% 80%
Product NameWestpac Premier Advantage Package Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$10,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$395 p.a.
Discharge Fee$350

Pros

  • No application fee for any loan packaged with the Premier Advantage Package
  • Redraw facility available
  • Low Doc option available

Cons

  • There is a $395 annual package fee

Combine your home loan with the Premier Advantage Package

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.

Features 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.

Fees

  • 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.

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Westpac Premier Advantage Package Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $395

  • Max LVR

    80%

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