Fixed rate rollover.

You can book in a new fixed rate up to 60 days before the end of your current fixed term through Westpac One® online banking (if eligible) or by getting in touch with us. In case interest rates change after you book in your new fixed term, you can choose to rate lock.

This will give you peace of mind that this is the fixed rate you'll get during your next term (though if rates get better, you can still break your rate lock for a fee¹).

If you don't choose to take a rate lock, your rate is subject to change in line with the market environment. If you book your new fixed rate in Westpac One, we’ll lock your rate automatically for you.

If you don't do anything before your fixed term ends, you will automatically roll onto our current Choices Floating interest rate. This gives you the flexibility to pay lump sums off your loan or increase your regular payments whenever you want with no prepayment costs.

Splitting your loan between fixed and floating rates enables you to pay off lump sums on the floating portion of your loan without prepayment costs, while having certainty that your repayments will stay the same on the fixed portion.

If you've built up some savings, you could use it to potentially cut years off your loan. Offset an eligible Westpac transaction or savings account against your floating home loan and you could save thousands on interest payments.