CommBank vs Westpac Home Loan
Rates and conditions verified 14 June 2026
Rates can change without notice. Last verified: 14 June 2026 (AEST). Please confirm details on the bank’s official page.
Australia's two largest banks, head to head on their owner-occupier variable home loans. Both offer offset, packages and branch networks — so the decision often comes down to the rate on offer and where you already bank.
At a glance
| CommBank Standard Variable Rate (Wealth Package) | Westpac Flexi First Option (Online Offer) | |
|---|---|---|
| Lowest variable rate (p.a.) | 6.34% | 6.44% |
CommBank Standard Variable Rate (Wealth Package)
Best for: existing CommBank customers who value the app, branch network and a packaged offset
- • Offset and package options
- • Largest branch and ATM network
- • Strong banking app
Westpac Flexi First Option (Online Offer)
Best for: borrowers after a big-four loan with offset who may already bank with the Westpac group
- • Offset and package options
- • Established big-four lender
- • Branch access
The verdict
There's little to separate the big four on features — both offer offset accounts, packaged discounts and full branch access. The deciding factors are the current variable rate (compare it in the table) and your existing relationship: an existing customer often gets a smoother application and can bundle accounts. That said, both typically sit above the sharpest online lenders, so if rate is your priority it's worth comparing them against the wider market too.
FAQs
Is CommBank or Westpac cheaper for a home loan?
Their advertised variable rates move independently and are usually close — see the table above for the current figures. Both also offer package discounts off the standard rate. Neither tends to lead the wider market, where online lenders often price lower.
Do both offer an offset account?
Yes. Both CommBank and Westpac offer offset accounts, typically on a packaged or wealth-package loan that carries an annual fee. An offset can reduce the interest you pay while keeping your savings accessible.
Related guides
Information verified 14 June 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.