Westpac mortgage rates: fixed and floating home loan rates

These home loan rates are from Westpac's website, checked on 11 November 2026.

Westpac fixed rates

• 6 months: 4.89% special, 5.49% standard
• 1 year: 5.19% special, 5.79% standard
• 18 months: 5.19% special, 5.79% standard
• 2 years: 5.29% special, 5.89% standard
• 3 years: 5.59% special, 6.19% standard
• 4 years: 5.65% special, 6.25% standard
• 5 years: 5.75% special, 6.35% standard

To get the special rates, you need at least 20% equity and your salary paid into a Westpac account. If you don't meet these conditions, Westpac charges its standard rates.

Westpac floating rate

Westpac's floating rate is 6.39%. With a floating rate, you can pay extra or pay off the loan at any time, but it usually costs more than a fixed rate.

Less than 20% equity

If you have less than 20% equity, Westpac adds a low equity margin to your rate: 0.25% for LVRs of 80% to 85%, 0.75% for 85% to 90%, 1.50% for 90% to 95% and 1.75% above that. The First Home Loan guide explains how to buy with a smaller deposit.

How Westpac compares

• 6 months: 4.89%, 0.10 points above 4.79% at ANZ, ASB and BNZ
• 1 year: 5.19%, 0.20 points above 4.99% at ANZ, ASB and BNZ
• 18 months: 5.19%, the lowest
• 2 years: 5.29%, the lowest
• 3 years: 5.59%, the lowest, tied with ANZ, ASB, BNZ and Kiwibank
• 4 years: 5.65%, the lowest, tied with ASB and BNZ
• 5 years: 5.75%, the lowest, tied with ASB and BNZ

The mortgage rates comparison shows each bank's rate for every term.

Repayments at Westpac's 1-year rate

On a $630,000 loan over 30 years at 5.19%, the fortnightly repayment is $1,594.08. $630,000 is about the national median house price less a 20% deposit. Use the mortgage calculator to see your own repayments at this rate.

Common questions