Westpac
Rocket Loan : Variable Home Loan with Offset (Owner Occupied)
You could save on home loan interest with up to 10 offset accounts, and unlimited extra repayments.
Home loansBank updated 10 Sept 2026
At a glance
- Variable (owner occ. P&I)
- 6.39% · 6.77% comparison
- Max LVR
- 95%
- Annual fee
- $395
- Features
- offset, redraw, extra repayments
§ 01 — Rates · 10
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Premier Advantage Package offers a 2.34% p.a. interest rate discount and other product savings, for one $395 annual package fee. T&C… | Owner occupied · Interest only | — | ≤70% LVR | 6.98% | 7.00% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insura… | Owner occupied · Interest only | — | ≤70% LVR | 9.32% | 9.14% | — |
| VariableOur Premier Advantage Package offers a 2.34% p.a. interest rate discount and other product savings, for one $395 annual package fee. T&Cs Apply. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximu… | Owner occupied · Interest only | — | 70–80% LVR | 7.08% | 7.10% | — |
| VariableMaximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insurance (MI) premium (if available). | Owner occupied · Interest only | — | 70–80% LVR | 9.42% | 9.24% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Our Premier Advantage Package offers a 2.34% p.a. interest rate discount and other product savings, for one $395 annual package fee. T&C… | Owner occupied · P&I | — | ≤70% LVR | 6.39% | 6.77% | — |
| VariableThe rates include our 0.10% p.a. discount for LVRs+ up to 70%. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insura… | Owner occupied · P&I | — | ≤70% LVR | 8.73% | 8.87% | — |
| VariableOur Premier Advantage Package offers a 2.34% p.a. interest rate discount and other product savings, for one $395 annual package fee. T&Cs Apply. Maximum LVR for Non Mortgage Insured Loan: 80%, Maximu… | Owner occupied · P&I | — | 70–80% LVR | 6.49% | 6.86% | — |
| VariableMaximum LVR for Non Mortgage Insured Loan: 80%, Maximum LVR for Mortgage Insured Loan: 95% inclusive of any capitalised mortgaged insurance (MI) premium (if available). For Government's home guarante… | Owner occupied · P&I | — | 70–80% LVR | 8.83% | 8.97% | — |
| VariableThere will be an additional 0.30% p.a. on top of our standard interest rate if you're borrowing over 80% of Westpac's property valuation. This additional LVR+ margin applies to all new loans. Our Pre… | Owner occupied · P&I | — | 80–95% LVR | 6.79% | 7.16% | — |
| VariableThere will be an additional 0.30% p.a. on top of our standard interest rate if you're borrowing over 80% of Westpac's property valuation. This additional LVR+ margin applies to all new loans. Maximum… | Owner occupied · P&I | — | 80–95% LVR | 9.13% | 9.27% | — |
§ 02 — Fees · 17
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Account Overdrawn Fee | Event | $15 | — | — |
| Bank Cheque Issuance Fee | Event | $10 | — | $10 per cheque (1st cheque is free) |
| Construction loan option | Event | No fee | — | Construction loan option (property valuer fees may apply) |
| Document Processing Fee | Event | $100 | — | — |
| Extra repayments | Event | No fee | — | — |
| Loan switching | Event | No fee | — | Loan switching (changing loan or repayment type) |
| Portability option | Event | No fee | — | Portability option (keeping your loan but changing the property securing the loan) |
| Property Valuer Fee | Event | Varies | — | — |
| Redraw | Event | No fee | — | If activated and extra funds are available |
| Repayment holidays or Reduced Repayments | Event | No fee | — | Repayment holidays or Reduced Repayments of up to 50% for up to 12 months (subject to approval) |
| Stop Payment Fee | Event | $12 | — | — |
| Loan Discharge Fee | Exit | $350 | — | — |
| Missed Payment Fee | Late payment | $15 | — | — |
| Annual Package Fee | Periodic | $395 | Every 1 yr | For customer opting for Premier Advantage Package |
| Monthly Loan Account Fee | Periodic | $8 | Every 1 mo | This fee is waived for customers that have Premier Advantage Package (other fees apply) |
| Lenders Mortgage Insurance Premium | Upfront | Varies | — | If your deposit is less than 20% then Lenders Mortgage Insurance is usually required. There may be other circumstances where Lenders Mortgage Insurance is also required. As Lenders Mortgage Insurance… |
| Lending Establishment Fee | Upfront | $600 | — | This fee is waived for customers that have Premier Advantage Package (other fees apply) |
§ 03 — Features
Offset accountRedrawExtra repaymentsGuarantor optionDigital bankingFraud protectionRelationship manager
- · Discounted rates: Your lender can tailor a sweet rate, based on your needs. Repay weekly, fortnightly or monthly.
- · Add a package and save more. You could save over $12k in interest with a Rocket Repay home loan package (based on a $550k variable home loan, a $395 annual package fee applies)
- · Split your loan balance into separate fixed rate and variable rate accounts for the best of both worlds.
- · Cancellation of the package : You may cancel your Package at any time by giving us a written request. Your Package will be cancelled, and all benefits will cease, when we receive your written request.
- · Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charg…
- · Loan Payment Method - Direct Debit (preferred), Direct Credit, Branch Payment, Internet or Phone Banking
- · Repayment frequencies includes weekly, fortnightly or monthly
- · Substituting a security : You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable…
- · Statements of account : We will send you a statement of your loan account at least every six months or more frequently if you request
- · The product provides switching (from another product) feature
- · This loan can be part of a combination loan
- · The product provides options which includes BPAY, reduced repayments (incl. parental leave), progressive drawdown, repayment holiday, portability, smartPay, loan increase (top up), parental guarantee…
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Those with an Australian permanent residency and who are currently in Australia
- · Employment: Employed or self-employed
- · Available to individuals
- · Amount $10,000 to no maximum
- · Maximum LVR 95%
- · Available to personal customers only.
- · Maximum repayment term 30 years
- · Loan Maximum - interest only period 5 years
§ 06 — Run the numbers
Put this product through a calculator
Published by Westpac under the Consumer Data Right, last changed by them on 10 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.