Did you know that Kogan has just launched new low rate home loans?

By Tom Watson · · 3 min read
Fact Checked
Advertiser disclosure

Shopping around for a new laptop? How about a home loan? Well Australian online retailer Kogan.com could be your destination for both with the release of a suite of new variable and fixed rate home loans for both owner occupiers and investors.

Available from today, Kogan is offering two different home loan ranges for potential buyers: an Essentials Home Loans range funded by Adelaide Bank for typical applicants and an Options Home Loan range funded by Pepper for those with more unique circumstances, such as self-employed Australians.

With variable interest rates starting from 3.69% (3.70% comparison rate*), the Kogan Money Essential Home Loan is available to owner-occupiers with an LVR of 80% or below and features a $150 application fee and an optional offset account for $10 a month.

Kogan is also offering a variable investor loan with rates starting from 3.89% (3.90% comparison rate*) for investors with an LVR of 80% or below making principal and interest repayments.

RELATED: This simple mortgage trick saved one family $4,500 a year

According to Mozo figures, both Kogan rates sit well below the respective averages in the Mozo database.

The average variable owner occupier rate for a $400,000 loan with principal and interest repayments and an 80% LVR in the Mozo database is currently 4.35%, while the average investor loan based on the same figures currently sits at 4.80%.

“There’s no doubt that Kogan’s new suite of competitively-priced home loans will give buyers something to think about, but they’re not going to blow anyone’s socks off,” said Mozo Product Data Manager, Peter Marshall.   

“Buyers may like the convenience of an online platform, but given there are a number of equivalent or lower priced alternatives currently in the Mozo database from both online lenders and traditional banks it could be worth making the effort to shop around.”

RELATED: The Lenders Mortgage Insurance trap hurting Aussie budgets

The move into home loans is just the latest shift by Kogan outside of its traditional online retail domain, having already joined the likes of fellow retail giants Woolworths and Coles with an expansion into telecommunications and insurance.

And perhaps unsurprisingly as an online provider, Kogan are promising a simple applications process and speedy turnaround for home loan applicants.

“Digital efficiency continues to be a key driver of our ability to achieve price leadership, and we’ve taken this approach with our Kogan Money Home Loans offering,” said Executive Director of Kogan.com, David Shafer.

“Kogan Money Home Loans is making this process easier and more efficient for the many Australians looking to secure a home loan either when purchasing a property or as part of a refinance. A large part of Kogan Money Home Loans’ mission is to provide solutions to help people lower the cost of owning homes and investment properties and to achieve property ownership.”

RELATED: Kogan launches life insurance for online shoppers

Want to learn more? Grab even more information about the fees and features of Kogan’s new variable and fixed rate Essential Home Loans, or check out some other great home loan deals below.

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can compare more home loans here.
Last updated 18 September 2024 Important disclosures and comparison rate warning*

Home loan comparisons on Mozo

Promoted

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Neat Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.

image of houses

Need help with refinancing?

You might have questions that need personal answers. We’ve teamed up with the mortgage brokers at Lendi to get you the answers you need, and a home loan deal you deserve.

Learn more

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Compare home loans