How does NRMA’s new home loan compare to the competition?
Not only can NRMA insure your home, but they can now help you buy one.
NRMA’s new home loan product, powered by digital home loan lender Tic:Toc, offers competitive interest rates for owner-occupiers and investors, and the option to include an offset account.
The standard variable interest rate for the NRMA home loan is 5.83% p.a. (5.98% p.a. comparison rate*), which is a lower rate than the Big 4 banks are currently offering.
Given online lenders don’t have as many overheads as traditional, brick-and-mortar banks (think branches and employees), the typically lower rates on offer don’t come as a surprise. But how does an NRMA home loan compare to other digital lenders right now?
What rates are digital lenders offering?
Online home loan lenders are offering the following standard variable rates:
- Reduce Home Loans Basic Home Loan | 5.69% p.a. variable rate (5.73% p.a. comparison rate*)
- Tic:Toc Variable Home Loan | 5.69% p.a. variable rate (5.70% p.a. comparison rate*)
- Up Variable Home Loan | 5.90% p.a. variable rate (5.90% p.a. comparison rate*)
- Unloan Variable Home Loan | 5.74% p.a. variable rate (5.65% p.a. comparison rate*)
- Loans.com.au Smart Home Loan 80 | 6.48% p.a. variable rate (6.50% p.a. comparison rate*)
- ING Mortgage Simplifier | 5.84% p.a. variable rate (5.86% p.a. Comparison rate*)
- Athena Straight Up Home Loan | 6.14% p.a. variable rate (6.10% p.a. comparison rate*)
- Macquarie Basic Home Loan | 5.95% p.a. variable rate (5.97% p.a. comparison rate*).
Don’t forget to compare home loans from a range of lenders
Of course, there are plenty of other non-digital lenders out there with competitive home loan interest rates. So, no home loan comparison is complete without looking at the broader picture.
Mozo has over 460 home loan products in its database to help you compare your options and find a mortgage that fits your needs. Get started by checking out some of the featured home loans below.
Home loan comparisons on Mozo
Promoted
-
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
- Owner Occupier
- LVR <80%
Go to site- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
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.
- interest rate
-
5.99% p.a. (5.90% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,995
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
Read reviews and learn more about Unloan home loans
Go to site
-
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
- Owner Occupier
- LVR <80%
Go to site- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
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.
- interest rate
-
5.99% p.a. (5.90% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,995
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
Read reviews and learn more about Unloan home loans
Go to site -
Budget Home Loan
- LVR <80%
- Owner Occupier
- Principal & Interest
Go to site- Interest rate
-
6.04
%
p.a.
Variable
- Comparison rate
-
6.07
%
p.a.
- Initial monthly repayment
-
$3,011
Enjoy a discounted variable home loan from IMB. Get up to $4,000 cashback (T&Cs apply). Life-of-loan discount off IMB’s standard variable interest rate. Unrestricted additional repayments. Free Internet and Mobile Banking redraws (T&Cs apply). No monthly fees to pay. Up to a 30 year loan term. Split loan available. No offset account.
- interest rate
-
6.04% p.a. (6.07% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$3,011
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
The $449 application fee is waived for <80% LVR Owner Occupier Principal and Interest loans.
- Special Offers
-
$4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
Read reviews and learn more about IMB Bank home loans
Go to site -
Mortgage Simplifier
- LVR<80%
- Owner Occupier
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.17
%
p.a.
- Initial monthly repayment
-
$3,043
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
- interest rate
-
6.14% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge Fee
-
$250.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$3,043
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
Everyday round up available, a feature that automatically rounds purchases made on INGs Orange Everyday transaction account to the nearest $1 or $5 and transfers the difference against your loan balance.
- Special Offers
-
-
Read reviews and learn more about ING home loans
Interested in an ING home loan? Lendi specialists can help you refinance your home loan.
Compare 25+ lenders with our trusted partner, Lendi.
Book an appointment and enter the draw to win $30K (T&Cs apply)
-
Elevate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
6.18
%
p.a.
Variable
- Comparison rate
-
6.18
%
p.a.
- Initial monthly repayment
-
$3,056
Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.
- interest rate
-
6.18% p.a. (6.18% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$498
- Ongoing fees
-
$0.00
- Discharge Fee
-
$325.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$3,056
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
Optional extra - $10 per month
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Aussie home loans
Interested in an Aussie home loan? Lendi specialists can help you refinance your home loan.
Compare 25+ lenders with our trusted partner, Lendi.
Book an appointment and enter the draw to win $30K (T&Cs apply)
Your selected home loans
* 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.