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

By Jasmine Gearie · · 4 min read
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Key points

  • ANZ, CommBank, NAB and Westpac are the major lenders behind most home loans in Australia.
  • Smaller lenders often have lower home loan interest rates compared to the Big Four banks.
  • ANZ, CommBank and NAB have not cut their variable home loan rates since August 2025, when the RBA last reduced rates.
  • Westpac made a small adjustment to its online-only Flexi First Option Home Loan, trimming the rate by 0.10% p.a. in October.
The logos of the Big Four banks, including ANZ, CBA, NAB and Westpac.

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

The major banks reduced home loan rates this year in line with the Reserve Bank of Australia’s (RBA) cash rate cuts, and have remained on hold since August 2025, while online-only lenders and customer-owned banks have made some tactical rate moves and offer the leading rates in our database.

If 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 against 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.)
Westpac Flexi First Option Home Loan 5.34% 5.35%
CommBank Digi Home Loan 5.39% 5.52%
NAB Base Variable Rate Home Loan 5.69% 5.73%
ANZ Simplicity Plus Special Offer 5.79% 5.80%
Source: Mozo database on 26 November, 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 – Westpac Flexi First Option Home Loan 5.34% (5.35% comparison rate*) $3,023 $406,854 $0
Lowest variable overall † – HomeLoans360 Owner Variable Home Loan 5.14% (5.14% comparison rate*) $2,964 $389,164 $17,690
Source: Mozo database on 26 November, 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.

† Lowest variable overall, excluding first home buyer loans and green loans.

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 5.34% (6.04% comparison rate*) 5.49% (6.05% comparison rate*)
CommBank 5.44% (7.33% comparison rate*) 5.34% (7.13% comparison rate*)
Source: Mozo database on 26 November, 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 November, 2025.

Lowest fixed rates

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

2 year: 4.64% p.a. (5.53% p.a. comparison rate*) | Australian Mutual Bank First Home Buyers 2 Year Fixed

3 year: 4.74% p.a. (5.50% p.a. comparison rate*) | Australian Mutual Bank Fixed Rate Home Loan

4 year: 5.29% p.a. (5.39% p.a. comparison rate*) | Hume Bank myBlue Fixed Rate Home Loan

5 year: 5.19% p.a. (5.55% p.a. comparison rate*) | Australian Mutual Bank Fixed Rate Home Loan

Source: Mozo database on 26 November, 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 5 December 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

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.09 % p.a.
    Fixed 2 years
    Comparison rate
    5.43 % p.a.
    Initial monthly repayment
    $2,712
    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.

  • 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

  • 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

  • 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.

  • 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
Showing 5 results from 380 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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