The product, called BlueChip20, is aimed at all types of investors with an annual income of more than $50,000.
It requires an initial investment of $2500, which will be combined with the same amount using a margin loan.
Despite current scepticism surrounding equity gearing strategies, Westpac head of equity derivative sales Craig Keary said it was a good time to launch a margin lending product.
"We always advocate sensible gearing," Keary said.
The product should also be seen as a long-term investment, and he suggested an investment horizon of at least five years.
Investors can increase their investment by monthly contributions of at least $250 a month, which will be combined with a similar increase of the loan amount.
This method of slowly increasing the invested capital protects the portfolio against market volatility.
Fees attached to the product include a standard loan fee, which currently stands at 7.99 per cent, an administration fee of 0.6 per cent and a services fee of up to 1.1 per cent, depending on planner involvement.
