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Premier Package Fixed Options Home Loan (Interest Only) 3 Years

Rewards500,000 Velocity Points for new eligible home loans or $2,000 refinance rebate 
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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • No upfront fees
  • Parents can sign as guarantor
  • Extra repayments + redraw services
  • Free redraw facility
Cons:
  • Limited extra repayments
  • Annual fee charged
  • Discharge fee at end of loan
  • Repayments won't decrease if RBA cuts rates

Fees and Features

Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Fixed - 3 years
Borrowing range
Borrowing range
$150k - $100m
Total repayments
Total repayments
$588,900
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsMonthly
Estimated upfront fees
Estimated upfront fees
$0
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$395 annually
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Fixed - 3 years
Borrowing range
Borrowing range
$150k - $100m
Total repayments
Total repayments
$588,900
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsMonthly
Estimated upfront fees
Estimated upfront fees
$0
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$395 annually
Discharge fee
Discharge fee
$350
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
  • Premier Package Fixed Options Home Loan (Interest Only) 3 Years Specials : R
    Receive 200,000 Velocity Points when you take out a new home loan up to $1M and 500,000 Velocity Points for loans over $1M under the Premier Advantage Package. OR Receive a $2,000 refinance rebate when you refinance your home loan to a Premier Advantage Package home loan. Both offers have a min loan size $250k and excludes refinances within the Westpac Group. Offers valid for applications submitted and approved before 31 January 2019 and settled by 31 March 2019. Both offers are not available in conjunction with each other. $395 annual package fee applies.

Westpac is Australia’s first bank and oldest company. Westpac was first founded in 1817 as the Bank of New South Wales and changed its name to Westpac Banking Corporation in 1982.

Westpac is one of Australia’s big four banks and has grown to serve over 13 million customers. It offers a wide range of home loan products, including owner-occupier loans and investor loans, as well as lines of credit and split loans.

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