Finding the best rates…
Bank One
Best available
From 5.79% p.a.
Line-up
145 live products
Compare Bank of Melbourne and Westpac home loans in March 2026. Bank of Melbourne offers rates from 5.79% p.a. across 145 products, while Westpac starts at 5.79% p.a. with 179 products.
145 live products
Best available rate
Fixed Rate Home Loan (Fixed 1 Yr)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
6.26%
Offset
Not included
Redraw
Included
179 live products
Best available rate
Fixed Rate Home Loan (Investment Fixed 1 Yr)
Highest ranked offer currently surfaced for this bank on the compare page.
Comparison
6.45%
Offset
Not included
Redraw
Included
Live edge
Westpac is lower on headline home loan rate by 0.00%, which is roughly $0 per month on a $500,000 loan.
Feature Comparison
Side-by-side view of the strongest offers surfaced above.
| Feature | Bank of Melbourne | Westpac |
|---|---|---|
| Interest rate | 5.79% | 5.79% |
| Comparison rate | 6.26% | 6.45% |
| Offset account | No | No |
| Redraw | Yes | Yes |
Every tracked home loans option from Bank of Melbourne.
Every tracked home loans option from Westpac.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) while Westpac starts at 5.79% p.a. (comparison rate 6.45%).
Key features: Bank of Melbourne includes redraw, Westpac includes redraw.
| Feature | Bank of Melbourne | Westpac |
|---|---|---|
| Interest Rate | 5.79% | 5.79% |
| Comparison Rate | 6.26% | 6.45% |
| Offset Account | No | No |
| Redraw Facility | Yes | Yes |
Common Questions
Bank of Melbourne currently offers the lower variable rate at 5.79% p.a. compared to 5.79% p.a. Always check the comparison rate for a true cost picture.
Bank of Melbourne does not include an offset account. Westpac does not include an offset account.
Bank of Melbourne's lowest variable rate is 5.79% p.a. (comparison rate 6.26%) on the Fixed Rate Home Loan (Fixed 1 Yr).
Westpac's lowest variable rate is 5.79% p.a. (comparison rate 6.45%) on the Fixed Rate Home Loan (Investment Fixed 1 Yr).
Bank Two
Best available
From 5.79% p.a.
Line-up
179 live products
| Annual Fee |
| $395 |
| $395 |
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