Variable rate home loans

Flexibility and convenience.

For some of us, having a home loan that adapts with changing circumstances is paramount. Our variable rate home loan gives you flexibility plus a range of convenient features to help you save by repaying your loan faster.

Rocket Home Loan

Rocket Home Loan is our most popular variable rate loan. It's a full-featured loan that suits first homebuyers, investors and refinancers. It works by linking your variable home loan to a Westpac Choice transaction account. This means you reduce your daily home loan interest charges by offsetting every dollar left in your Choice account against the amount left on your loan.

Ways you benefit with a Rocket Home Loan

  • Special limited time offer. Discount of up to 0.95% p.a. with the Premier Advantage Package with a Westpac Choice Transaction Account.#2 See rates tab for specific discounts.
  • Discount of up to 1% p.a. with the Premier Advantage Package with a Westpac Choice Transaction Account. See rates tab for specific discounts.
  • You could cut years off your loan with 100% home loan offset. Every dollar in your linked transaction account saves you interest.
  • Flexible features include redraw, top-up and multiple access methods.
  • Convenient single statement showing your home loan and Westpac Choice account transactions.
  • Low doc version available.

New home loan package discount rates#

Total Package Borrowings Loan Discount
$150,000 - $249,999 0.7% p.a.
$250,000 - $749,999 0.9% p.a.
$750,000 and above 1% p.a.

See all our current rates

See all our current rates

You save on standard fees when you choose the Premier Advantage Package. An annual package fee of $395 applies.

Fee Standard loan Under Premier Advantage Package Low doc loan under Premier Advantage Package
Loan Establishment fee $600 (one upfront fee) NIL $355
Loan maintenance fee $8 per month NIL NIL

Other fees and charges apply.

For a limited time, receive up to

1% p.a. off#

1% p.a. off#

the standard variable home loan rate, when you take out a new eligible loan in combination with our Choice account and Premier Advantage Package*. Enjoy the full discount on loans of $750,000 or more, or receive a 0.9% p.a. discount on new loans between $250,000 - $749,999 or a 0.7% p.a. discount on new loans between $150,000 - $249,999. Loans must be conditionally approved between 03/02/14 and 30/09/2015.

Things you should know


Things you should know:

Credit criteria, fees and charges apply. Terms and conditions available on request.

Interest rates are subject to change (and margins may apply).


Premier Advantage Package (PAP) Conditions of Use and deposit account Terms and Conditions apply. Annual fee, currently $395, applies. Package benefits cannot be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. Not available to company and trust account holders.


Special rate discounts only available on standard variable rate on Rocket Repay Home, Rocket Investment Property and Equity Access Loans which are conditionally approved by 30 September 2015. You must either hold or be approved for a Westpac Choice Transaction account in order to qualify and continue to receive the benefits of the PAP. Before deciding to acquire a Westpac Choice account, consider whether it is appropriate for you. You should read the Terms and Conditions before making a decision. Special rate discount includes standard PAP discount of: 0.7% p.a. for full doc loans of $250,000 or more and 0.4% p.a. for full doc loans between $150,000 and $249,999 and 0.7% p.a. for Low doc loans of $500,000 or more and 0.5% p.a. for low doc loans between $250,000 and $499,999. Low doc loans below $249,999 receive the 0.3% p.a. standard low doc PAP discount. PAP Conditions of Use apply and are available at Discounts do not apply to internal refinances and are not transferable between loans.

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