Westpac

Westpac is Australia's first bank and oldest company, one of four major banking organisations in Australia and one of the largest banks in New Zealand.

Westpac business loans

Westpac Secured Business Loan (Variable rate)

Westpac Secured Business Loan (Variable rate)

Highlights

  • Loans from $20,000 up to $1,000,000.
  • No establishment or monthly account keeping fees.
  • Variable-rate starting from 6.66% p.a. depending on the security offered.
Westpac Unsecured Business Loan

Westpac Unsecured Business Loan

Highlights

  • Loans from $5,000 up to $250,000.
  • Repayment frequencies of weekly, fortnightly, or monthly.
  • No establishment or monthly account-keeping fees.
  • Fixed interest rates available for 1 - 5 years.

Westpac credit cards

Compare
Westpac Altitude Black Credit Card (Altitude)

Highlights

  • Earn up to 150,000 bonus Altitude Points. Receive 100,000 Altitude bonus points when you spend $6,000 on eligible purchases within 120 days of card approval. Plus 50,000 points after your first eligible purchase in year 2. Exclusions apply.
  • $150 p.a. annual fee for the first year ($295 p.a. annual fee thereafter). Applies to new cardholders only.
  • Earn 6 Altitude points per $1 on Qantas, Jetstar, Singapore Airlines, and Emirates flights bought in Australia, eligibility criteria apply.

Pros

  • Earn up to 150,000 bonus Altitude Points when you meet the criteria.
  • Additional savings with the $150 first-year annual fee ($295 p.a. thereafter).
  • Earn 1.25 points per $1 spent on eligible purchases
  • Get 2 complimentary lounge passes each year with Priority Pass.

Cons

  • The high annual fee of $295 p.a. after the initial year.
Westpac Altitude Black Credit Card (Qantas)
Apply by 30 April 2024

Westpac Altitude Black Credit Card (Qantas)

Highlights

  • Earn up to 120,000 bonus Qantas Points. Get 90,000 points when you spend $6,000 in the first 90 days from account approval date and an additional 30,000 points after making your eligible purchase in the second year.
  • Earn 0.75 Qantas points per $1 spent.
  • Enjoy two (2) complimentary Qantas Club airport lounge passes each year.

Pros

  • Earn up to 120,000 bonus Qantas Points when you meet the criteria.
  • Get a free additional card holder.
  • Comes with complimentary travel insurance.

Cons

  • The $295 p.a. annual fee (plus a $75 Qantas opt-in fee).
Westpac Altitude Business Gold Mastercard

Westpac Altitude Business Gold Mastercard

Highlights

  • $0 annual fee for the first year (reverts to $150 p.a. thereafter)
  • 4.99% p.a. for 12 months on balance transfers with no balance transfer fee on amounts transferred.
  • Comes with complimentary overseas travel insurance.

Pros

  • $0 first-year annual fee.
  • 4.99% p.a. for 12 months on balance transfers.
  • Earn 1 Altitude Point per $1 spent on eligible transactions.
  • Add an additional cardholder at no extra cost.

Cons

  • The high interest of 20.24% p.a. on purchases
  • There is a 3% fee if you use your card overseas.
  • A cap of 20,000 points applies per each statement cycle.
Westpac Altitude Business Platinum Credit Card

Westpac Altitude Business Platinum Credit Card

Highlights

  • $0 annual card fee for the first year (usually $200 p.a.)
  • 4.99% p.a. for 12 months on balance transfers with no balance transfer fee on amounts transferred.
  • Comes with complimentary cover for international travel insurance, plus an extended warranty, and purchase protection.

Pros

  • Uncapped points.
  • Includes Personal Concierge Service.
  • Interstate Flight Inconvenience Insurance.
  • Extended Warranty Insurance

Cons

  • After the initial year, you will be charged a $200 p.a. annual fee.
  • No sign-up bonus offer.
Westpac Altitude Platinum Credit Card (Qantas)

Highlights

  • Receive 70,000 bonus Qantas Points when you spend $4,000 on eligible purchases within 90 days of card approval. Terms and conditions apply.
  • $99 p.a. annual fee for the first year then $175 p.a. annual fee thereafter (Plus a $75 Qantas Rewards opt-in annual fee).
  • Earn 0.5 Qantas points per $1 spent on eligible purchases


From 1 January 2022, earn 0.5 Qantas Points per $1 up to a maximum of $100,000 spent on eligible purchases annually. Bonus Qantas Points not included in the cap.


Pros

  • 70,000 bonus Qantas Points when you spend $4,000 in 90 days.
  • Additional savings with the $99 first-year annual fee ($175 p.a. thereafter).
  • Comes with complimentary insurance covers which include overseas medical and purchase security.

Cons

  • Only up to 45 days interest-free on purchases.
Westpac BusinessChoice Everyday Mastercard

Westpac BusinessChoice Everyday Mastercard

Highlights

  • Low $75 annual card fee.
  • Low 14.25% p.a. variable interest rate on purchases and 19.96% p.a. variable interest rate on cash advances
  • Up to 55 interest-free days on purchases.

Pros

  • The annual fee for succeeding years will be waived if you spend $15,000 in 12 months.
  • Comes with Fraud Protection, Transit Accident Insurance, and Interstate Flight Inconvenience Insurance.
  • Compatible with Google Pay and Samsung Pay.

Cons

  • No sign-up bonus offer.
  • There is a 3% foreign transaction fee.
Westpac BusinessChoice Rewards Platinum Mastercard
Apply by 30 September 2023

Westpac BusinessChoice Rewards Platinum Mastercard

Highlights

  • Receive 120,000 bonus Qantas Points when you spend $3,000 on eligible purchases within 90 days of card approval. Terms and conditions apply
  • Earn 0.75 Qantas Point per $1.50 spent on eligible business purchases.
  • Assign individual card credit limits from $1,000 on up to 99 cards.

Pros

  • Qantas Business Rewards joining fee of $89.50 is waived.
  • Includes complimentary travel, purchase, and business-related insurance.
  • Comes with Personal Concierge Service.
  • Up to 55 interest-free days on purchases.

Cons

  • The $150 p.a. annual fee per card.
  • High-interest rate of 20.24% p.a. on purchases.
  • Earned points on eligible transactions are capped at 100,000 Qantas Points per month.
Westpac Lite Mastercard

Westpac Lite Mastercard

Highlights

  • Low variable purchase rate of 9.90% p.a.
  • Enjoy a 0% foreign transaction fee when you use your card overseas.
  • $108 p.a. annual fee.

Pros

  • Low-interest rate.
  • Up to 45 interest-free days on purchases.
  • Get an additional cardholder at no extra cost.

Cons

  • No rewards program.
  • No introductory balance transfer offer.
Westpac Low Fee Credit Card

Westpac Low Fee Credit Card

Highlights

  • $0 annual fee for the first year.
  • Get up to 55 days interest-free on purchases.
  • Split purchases into 4 payments.

Pros

  • The $30 p.a. annual fee in succeeding years may be waived if you spend $5,000 or more a year.
  • Get up to 55 days interest-free on purchases.
  • The minimum credit limit is $500.

Cons

  • No rewards program.
Westpac Low Rate Cashback Credit Card

Highlights

  • Get up to $350 cashback when you apply online by 30 April 2024 Get a $50 cashback each month you spend over $1,000 for the first 7 statement periods.
  • Low ongoing 13.74% p.a. interest rate on purchases.
  • $59 p.a. annual fee.

Pros

  • Get up to $350 cashback when you meet the criteria.
  • Low 13.74% p.a. interest rate on purchases.
  • 55 days interest-free on purchases.
  • $500 minimum credit limit.

Cons

  • No rewards program although there is a cashback offer.
  • No complimentary travel insurance.
Westpac Flex Card

Highlights

  • 0% interest and $0 late payment fee.
  • $10 monthly fee, or no outstanding balance, $0 fee.
  • Access to Westpac Extras and Rewards.

Pros

  • No interest charges.
  • Pay no monthly fee if you do not have any outstanding balance.
  • Choose to repay monthly or twice a month, plus pay back more at any time.
  • No late payment fees.

Cons

  • Low credit limit.
  • No balance transfers or cash advances.
  • Lacks the ability to earn rewards.

Westpac home loans

Compare
Westpac Rocket Repay Home Loan

Westpac Rocket Repay Home Loan

Interest rate (p.a.)

4.58%

Comp rate^ (p.a.)

4.72%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,301.52

Total repayment

$828,547.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Westpac Rocket Repay Home Loan Premier Advantage Package

Westpac Rocket Repay Home Loan Premier Advantage Package

Interest rate (p.a.)

3.29%

Comp rate^ (p.a.)

3.70%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$1,968.32

Total repayment

$708,595.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Flexi First Option Home Loan

Westpac Flexi First Option Home Loan

Interest rate (p.a.)

2.09%

Comp rate^ (p.a.)

2.52%

Max LVR

95.00%

Application fee

$0.00

Monthly repayment

$1,683.61

Total repayment

$606,099.60

Highlights

  • 2 Year introductory rate on new Flexi First Option Home Loan.
  • Includes a 1.84% p.a. discount for 2 years from loan settlement date reverting to a 1.34% p.a. rate discount thereafter (Terms and conditions apply).
  • No cap on extra repayments.
Westpac Flexi First Option Home Loan variable rate - Special Offer

Westpac Flexi First Option Home Loan variable rate - Special Offer

Interest rate (p.a.)

3.24%

Comp rate^ (p.a.)

3.58%

Max LVR

90.00%

Application fee

$0.00

Monthly repayment

$1,955.96

Total repayment

$704,145.60

Highlights

  • Rate includes a 1.94% p.a. discount for 2 years from loan settlement reverting to a 1.54% p.a. discount thereafter. (Terms and conditions apply).
  • Get a low rate with lots of loan flexibility.
  • No loan account fees.

Bank promo

  • Apply by 31st July 2022, settle by 31st October 2022. Owner Occupier loans (P&I repayments) and Investment Property Loans, with LVR+ up to 80% and min $250k loan. Flexi First Option or packaged# home loans only ($395 annual package fee). Terms and Conditions apply.
Westpac Rocket Investment Loan

Westpac Rocket Investment Loan

Interest rate (p.a.)

5.13%

Comp rate^ (p.a.)

5.27%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,451.58

Total repayment

$882,568.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Rocket Investment Loan Premier Advantage Package

Westpac Rocket Investment Loan Premier Advantage Package

Interest rate (p.a.)

3.84%

Comp rate^ (p.a.)

4.24%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,107.07

Total repayment

$758,545.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Flexi First Option Investment Property Loan

Westpac Flexi First Option Investment Property Loan

Interest rate (p.a.)

4.48%

Comp rate^ (p.a.)

4.53%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,274.74

Total repayment

$818,906.40

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Flexi First Option Investment Property Loan - Special Offer

Westpac Flexi First Option Investment Property Loan - Special Offer

Interest rate (p.a.)

3.34%

Comp rate^ (p.a.)

3.35%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$1,980.73

Total repayment

$713,062.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Rate includes a 1.14% p.a. discount off our Flexi First Investment Loan Variable Rate for the Life of Loan.
Westpac Rocket Repay Home Loan (Owner, Principal and Interest)

Westpac Rocket Repay Home Loan (Owner, Principal and Interest)

Interest rate (p.a.)

4.58%

Comp rate^ (p.a.)

4.72%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,301.52

Total repayment

$828,547.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Rocket Repay Home Loan (Owner, Interest only)

Westpac Rocket Repay Home Loan (Owner, Interest only)

Interest rate (p.a.)

5.17%

Comp rate^ (p.a.)

5.31%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,462.67

Total repayment

$886,561.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Rocket Repay Home Loan - Premier Advantage Package (Owner, Principal and Interest)

Westpac Rocket Repay Home Loan - Premier Advantage Package (Owner, Principal and Interest)

Interest rate (p.a.)

3.29%

Comp rate^ (p.a.)

3.70%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$1,968.32

Total repayment

$708,595.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Rocket Repay Home Loan - Premier Advantage Package (Owner, Interest only)

Westpac Rocket Repay Home Loan - Premier Advantage Package (Owner, Interest only)

Interest rate (p.a.)

3.88%

Comp rate^ (p.a.)

4.28%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,117.35

Total repayment

$762,246.00

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Flexi First Option Home Loan (Owner, Principal and Interest)

Westpac Flexi First Option Home Loan (Owner, Principal and Interest)

Interest rate (p.a.)

3.93%

Comp rate^ (p.a.)

3.98%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,130.25

Total repayment

$766,890.00

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Flexi First Option Home Loan (Owner, Interest only)

Westpac Flexi First Option Home Loan (Owner, Interest only)

Interest rate (p.a.)

4.52%

Comp rate^ (p.a.)

4.57%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,285.43

Total repayment

$822,754.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Flexi First Option Home Loan variable rate - Special Offer (Owner, Principal and Interest)

Westpac Flexi First Option Home Loan variable rate - Special Offer (Owner, Principal and Interest)

Interest rate (p.a.)

3.03%

Comp rate^ (p.a.)

3.04%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$1,904.51

Total repayment

$685,623.60

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Rate includes a 0.90% p.a. discount off our Flexi First Option Home Loan Variable Rate for the Life of Loan.
Westpac Rocket Investment Loan (Investor, Principal and Interest)

Westpac Rocket Investment Loan (Investor, Principal and Interest)

Interest rate (p.a.)

5.13%

Comp rate^ (p.a.)

5.27%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,451.58

Total repayment

$882,568.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Rocket Investment Loan (Investor, Interest only)

Westpac Rocket Investment Loan (Investor, Interest only)

Interest rate (p.a.)

5.39%

Comp rate^ (p.a.)

5.53%

Max LVR

100.00%

Application fee

$600.00

Monthly repayment

$2,524.08

Total repayment

$908,668.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Rocket Investment Loan - Premier Advantage Package (Investor, Principal and Interest)

Westpac Rocket Investment Loan - Premier Advantage Package (Investor, Principal and Interest)

Interest rate (p.a.)

3.84%

Comp rate^ (p.a.)

4.24%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,107.07

Total repayment

$758,545.20

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Rocket Investment Loan - Premier Advantage Package (Investor, Interest only)

Westpac Rocket Investment Loan - Premier Advantage Package (Investor, Interest only)

Interest rate (p.a.)

4.10%

Comp rate^ (p.a.)

4.49%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,174.39

Total repayment

$782,780.40

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Discounts on a range of Westpac home loans.
  • $0 loan maintenance fee, top up / loan increase fee, portability fee or switching fee (excluding switches to a non-package loan).
  • Pay no monthly service fee on your Westpac Choice account, regardless of total monthly deposit.
Westpac Flexi First Option Investment Property Loan (Investor, Principal and Interest)

Westpac Flexi First Option Investment Property Loan (Investor, Principal and Interest)

Interest rate (p.a.)

4.48%

Comp rate^ (p.a.)

4.53%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,274.74

Total repayment

$818,906.40

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Flexi First Option Investment Property Loan (Investor, Interest only)

Westpac Flexi First Option Investment Property Loan (Investor, Interest only)

Interest rate (p.a.)

4.74%

Comp rate^ (p.a.)

4.79%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,344.70

Total repayment

$844,092.00

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday
Westpac Flexi First Option Investment Property Loan - Special Offer (Investor, Principal and Interest)

Westpac Flexi First Option Investment Property Loan - Special Offer (Investor, Principal and Interest)

Interest rate (p.a.)

3.34%

Comp rate^ (p.a.)

3.35%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$1,980.73

Total repayment

$713,062.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Rate includes a 1.14% p.a. discount off our Flexi First Investment Loan Variable Rate for the Life of Loan.
Westpac Flexi First Option Investment Property Loan - Special Offer (Investor, Interest only)

Westpac Flexi First Option Investment Property Loan - Special Offer (Investor, Interest only)

Interest rate (p.a.)

3.59%

Comp rate^ (p.a.)

3.60%

Max LVR

100.00%

Application fee

$0.00

Monthly repayment

$2,043.38

Total repayment

$735,616.80

Highlights

  • A handy redraw facility
  • Ability to increase your home loan
  • Make extra payments and take a repayment holiday

Bank promo

  • Rate includes a 1.14% p.a. discount off our Flexi First Investment Loan Variable Rate for the Life of Loan.
Westpac Fixed Options Home Loan - Premier Advantage Package

Westpac Fixed Options Home Loan - Premier Advantage Package

Interest rate (p.a.)

6.49%

Comp rate^ (p.a.)

7.57%

Max LVR

70.00%

Application fee

$0.00

Monthly repayment

$2,841.35

Total repayment

$1,022,886.00

Highlights

  • 2-year Owner Occupier Fixed Options Home Loan with P&I repayments on the Premier Advantage Package ($395 annual package fee applies).
  • Available for new loans as well as existing variable rate home loan customers looking to fix all or part of their loans.
  • Get a 0.10% p.a. discount for LVR+ up to 70%.

Westpac money transfer

Westpac International Payments

Westpac International Payments

Highlights

  • Transfer money to and from international bank accounts in over 130 countries.
  • Pay a lower fee when you send your International Payment in a foreign currency.
  • Feel secured with Westpac's Online Banking Security Guarantee.

Pros

  • High international transfer limit.
  • Trusted and reliable.
  • Familiar and accessible branches.
  • 24/7 customer service.

Cons

  • Expensive compared to other money transfer services.
  • Limited access overseas.

Q&As

What services and products do Westpac offer?

Westpac presents the full range of banking products and service to personal customers, businesses of all sizes and corporate clients. Business services include accounts, credit cards, business loans, merchant services, insurance, international trade and advice for businesses at every stage of their development. Personal banking services include transaction accounts, credit cards, home loans, personal loans, savings accounts, insurance and investments. Personal customers are also offered expert financial advice on specific situations such as buying homes, student accounts, investing money and planning for the future, including retirement schemes.

How long have Westpac been around?

Westpac was first established in 1817 as the Bank of New South Wales, based in Sydney, the country’s first official bank. The company faced a major set back in 1821 when the Chief Cashier stole half of the bank’s capital, which was never recovered, but survived and thrived during the gold rush of the mid-19th century. The bank expanded greatly over the next few decades, with new branches opening in Brisbane in 1850, Victoria in 1851, New Zealand 1861, South Australia in 1877, Western Australia in 1883, Fiji in 1901, and Papua New Guinea and Tasmania in 1910.

The bank continued to expand its operations throughout Australia and Oceania during the 20th century with a series of acquisitions including Western Australian Bank in 1927 and Australian Bank of Commerce in 1931. In 1982, The Bank of New South Wales merged with the Commercial Bank of Australia Ltd under the new name of Westpac Banking Corp. The name is an abbreviation of Western-Pacific, reflecting the bank’s presence in Australia and Oceania. The new group was the largest banking operation in Australia, and continued to grow with further acquisitions in the 1990s including Challenge Bank Ltd, the Trust Bank New Zealand and the Bank of Melbourne. In December 2008 Westpac merged with St.George Bank, making a much larger multi-brand banking group, one of Australia’s 'big four’ banks and the second-biggest bank in New Zealand.

Westpac Today

Following the 2008 merger with St.George, Westpac currently serves around 12 million customers, the largest bank branch network in Australia, and $678 billion in global assets. Westpac is Australia’s second-largest bank by assets, second-largest provider of home lending and the county’s third-largest credit card provider. From 2004 to 2007, the Dow Jones Sustainability Index identified Westpac as the most sustainable bank in the world.