If you are only going to chose between the above two options, then go with what bank you like… both of these products are very similar.  Westpac's annual fee is $395 and ANZ is $363 (from memory).  each give you a free transaction account and credit card.  Both give you a discounted interest rate of 0.7% (depending on the loan amount).

there are many options out there when it comes to loans… some have more features and better service, others have a better interest rate.  If it's just an interest rate you're after… have a look at the bankwest rate tracker product.  it may suit.

Matt