Compare Big Four home loan interest rates: how do CBA, NAB, ANZ and Westpac stack up?

By Jasmine Gearie · · 4 min read
Fact Checked
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Key points

  • The Big Four banks (ANZ, CommBank, NAB and Westpac) are the lenders behind the majority of home loans in Australia.
  • Smaller lenders often have lower home loan interest rates compared to the Big Four banks.
  • ANZ and CommBank dropped their variable home loan rates by 0.25% on 22 August, 2025.
  • NAB cut its variable rates by 0.25% on 25 August, while Westpac followed on 26 August, 2025.
The logos of the Big Four banks, including ANZ, CBA, NAB and Westpac.

When people apply for a home loan in Australia, they often go with one of the Big Four banks: ANZ, Commonwealth Bank, NAB or Westpac. While these are household names you might naturally consider first, they don’t typically offer cheap home loans.

Since the Reserve Bank of Australia (RBA) began to cut the cash rate in 2025, the major banks are scaling back their home loan rates, but they’re facing stiff competition from online-only lenders and customer-owned banks.

We monitor all their movements so you can easily find the lowest Big Four interest rates on this page. So, whether you’re currently with ANZ, CommBank, NAB or Westpac, or you’ve got them on your home loan shortlist, it’s worth seeing how they stack up against each other as well as smaller competitor banks.

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ANZ, CBA, NAB and Westpac: lowest variable rates

Each of the Big Four banks have a range of home loan options available. Here’s a side by side comparison of their home loans with the lowest variable interest rates for owner occupiers.

Bank Home loan Interest rate (p.a.) Comparison rate*
(p.a.)
CommBank Digi Home Loan 5.39% 5.52%
Westpac Special Online Refinance Offer Flexi First Option 5.44% 5.45%
NAB Base Variable Rate Home Loan 5.69% 5.73%
ANZ Simplicity Plus Special Offer 5.79% 5.80%
Source: Mozo database on 26 August, 2025. Rates are for an owner occupier with <80% LVR, making principal and interest repayments over 25 years on a $500,000 home loan.

How the Big Four compare against other lenders

There are dozens of lenders in our database with lower rates on comparable loans, so you can start to compare home loans on Mozo.

In the table below, you can see the difference between monthly repayments and total interest paid with the lowest variable Big Four rate versus the lowest in the Mozo database.

Interest rate (p.a.) Monthly repayment Interest over 25 years Potential savings
Lowest Big Four variable – CommBank Digi Home Loan 5.39% (5.52% comparison rate*) $3,038 $411,304 $0
Lowest variable overall – HomeLoans360 Owner Variable Home Loan 5.14% (5.14% comparison rate*) $2,964 $389,164 $22,140
Source: Mozo database on 26 August, 2025. Rates are for an owner occupier with <80% LVR, making principal and interest repayments over 25 years on a $500,000 home loan.

If you’re interested in reviewing some of the lenders with low rates, check out our monthly wrap of cheap home loan deals.

ANZ, CBA, NAB and Westpac: lowest fixed rates

The Big Four banks also offer fixed rate home loans, with terms ranging from one to five years. Two- and three-year terms tend to be the most popular, so we’ve compared each bank’s lowest rate with the lowest option in our database overall.

Bank Lowest 2 year rate (p.a.) Lowest 3 year rate (p.a.)
ANZ 5.19% (6.24% comparison rate*) 5.34% (6.17% comparison rate*)
NAB 5.19% (6.12% comparison rate*) 5.29% (6.06% comparison rate*)
Westpac 5.69% (6.11% comparison rate*) 5.99% (6.19% comparison rate*)
CommBank 5.44% (7.33% comparison rate*) 5.34% (7.13% comparison rate*)
Source: Mozo database on 26 August, 2025. Rates are for an owner occupier with <80% LVR, making principal and interest repayments over 25 years on a $500,000 home loan.

However, if you expand your search and start to consider fixed rate home loans from providers outside the Big Four, it’s possible to find lower fixed rates across all terms. Below is a look at the lowest fixed rates in the Mozo database available for owner occupiers on 26 August, 2025.

Lowest fixed rates

1 year: 4.84% p.a. (5.11% p.a. comparison rate*) | HomeLoans360 Fixed Home Loan

2 year: 4.69% p.a. (5.26% p.a. comparison rate*) | Easy Street 2 Year Fixed Home Loan Special Offer

3 year: 4.59% p.a. (5.36% p.a. comparison rate*) | Bank Australia Clean Energy Home Loan – New Build (conditions apply)

4 year: 5.29% p.a. (5.50% p.a. comparison rate*) | People’s Choice Fixed Rate Home Loan

5 year: 5.29% p.a. (5.49% p.a. comparison rate*) | People’s Choice Fixed Rate Home Loan

Source: Mozo database on 26 August, 2025. Best fixed rates are for an owner occupier with a 20% deposit (80% LVR), making principal and interest repayments over 25 years on a $500,000 home loan.

*See the comparison rate warning above.

Looking for a better rate? Search for a lower interest rate by comparing refinance home loans and lenders, or check out some of the offers below.

See our dedicated home loan statistics page for more information on average mortgage rates.

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Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 8 November 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.10 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank
  • Promoted

    Lite Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.21 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • Earn Virgin Money Points every month
    • No ongoing home loan fees
    • Make additional repayments and redraw at no extra cost

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    4.89 % p.a.
    Fixed 2 years
    Comparison rate
    5.40 % p.a.
    Initial monthly repayment
    $2,651
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    4.89 % p.a.
    Fixed 2 years
    Comparison rate
    5.44 % p.a.
    Initial monthly repayment
    $2,651
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • 2-Year Discounted Simple Home Loan Variable

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Refinance only
    • Redraw available
    Interest rate
    4.99 % p.a.
    Variable for 24 months and then 5.24% p.a.
    Comparison rate
    5.20 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • 2-year discounted variable rate offer for owner-occupiers
    • No application or ongoing fees and up to $1,000 towards legal and valuation costs (T&Cs apply)
    • Make unlimited extra repayments and access free redraw anytime

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.10 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • Special Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.19 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • No application or monthly fees
    • Free redraw facility
    • $5000 cashback for first time buyers borrowing at least $500K. Apply by 30/11/2025 with loans settled by 30 April 2026. Lending criteria, T&Cs apply.

  • Discount Great Rate Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.20 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • Get up to $3,000 cashback when you apply online (T&Cs apply)
    • No paperwork or payslips required (see site for details)
    • Low variable rate

  • Lite Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.21 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • Earn Virgin Money Points every month
    • No ongoing home loan fees
    • Make additional repayments and redraw at no extra cost

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.27 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.29 % p.a.
    Variable
    Comparison rate
    5.33 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Loaded Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.34 % p.a.
    Variable
    Comparison rate
    5.64 % p.a.
    Initial monthly repayment
    $2,789
    Go to site
    • Earn Virgin Money Points at settlement and every month
    • 100% interest offset
    • Weekly, fortnightly or monthly repayment flexibility

  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.38 % p.a.
    Variable
    Comparison rate
    5.41 % p.a.
    Initial monthly repayment
    $2,801
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options

  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.39 % p.a.
    Variable
    Comparison rate
    5.42 % p.a.
    Initial monthly repayment
    $2,805
    Go to site
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months

  • Offset Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.42 % p.a.
    Variable
    Comparison rate
    5.45 % p.a.
    Initial monthly repayment
    $2,814
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options
Showing 13 results from 378 home loans. Use the filters to see more

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* 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.

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.

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