How much could switching to Unloan actually save you?
If you’re refinancing your home loan, one of the most popular recommendations to check out these days is Unloan.
And no wonder! With an interest rate 0.85% lower than the Mozo database average, a cumulative loyalty discount that shaves 1 basis point off your mortgage every year (with conditions), and a history of withholding from the full RBA rate hikes, there’s a lot going for it.
While estimating your future mortgage repayments can be tricky since variable rates ebb and flow with the economic tide, it’s worthwhile crunching some numbers to see your savings in action – and with such a unique discount rate, it’s well worth investigating.
So let’s do some mortgage maths: how much could the Unloan loyalty discount actually save you?
Crunching the numbers of Unloan’s loyalty discount
In theory, if you were eligible for the maximum Unloan discount rate (so 0.30% off the variable rate offer at the time), it could save you hundreds of on your monthly repayments, depending on the size and term of your loan.
However, this is the golden scenario, and it doesn’t consider long-term savings over the life of your home loan: only what you’re saving during that year. In that way, Unloan’s discount rate just accumulates a buffer against the maximum interest rate – more of an “I could be paying much more than I am” reward.
Still, if you’re looking to refinance, it’s worthwhile investigating how 0.01% p.a. off your interest rate could affect your monthly budget.
For example, if you refinance to Unloan at its current variable rate of 4.99% p.a. (4.90% p.a. comparison rate*) with $500,000 left on your principal for a 20-year loan term, then, provided Unloan makes no rate hikes or cuts, in your first year you would repay $3,297 per month, according to Mozo’s mortgage repayment calculator.
But on the anniversary, your interest rate would decrease to 4.98% p.a., bringing your monthly repayments down to $3,294. This means the discount would only save you $3 a month during your second year ($36).
If we plug the situation into Unloan’s repayment calculator , you can see how this could play out over time. Someone with a 0.20% (20-year) discount would pay $28 less per month than they did at the start of the loan.
Discount | 1-year | 5-year | 10-year | 15-year | 20-year |
Interest rate | 4.99% p.a. | 4.95% p.a. | 4.90% p.a. | 4.85% p.a. | 4.80% p.a. |
Monthly repayments | $3,297 | $3,285 | $3,276 | $3,271 | $3,269 |
Yearly savings | $0 | $144 | $252 | $312 | $336 |
Mathematically, however, this assumes a lot of unrealistic conditions, like an unchanging variable rate and a constant time-value to money. Mostly, the table just illustrates the cushion Unloan’s discount could give you depending on the year.
However, home loans are long-term commitments (no pun intended), so how much would Unloan actually save you over time?
Okay, but how much could Unloan save you long-term?
When you make mortgage repayments, typically you pay down a portion of your principal (the amount you initially borrowed) with compounded interest tacked on. The amount of interest you pay will change as you pay down your principal over time precisely because it’s compounded. Add to that a decrease of 1 basis point yearly, and Unloan creates a gradual shift in your repayments.
There’s no easy formula to see this action, so solving the problem requires some fiddling around with a mortgage calculator. Luckily, Mozo loves calculators.
If we start with a base rate of 4.99% p.a. (4.90% p.a. comparison rate*) on a 20-year mortgage with $500,000 in principal, we can estimate the savings with the Unloan discount, provided the interest rate doesn’t change. Simply add the difference between each year’s monthly repayments and then voilá: savings!
So how does it look?
According to our majestic (and somewhat magical) maths, Unloan’s discount could in theory save you $4,296 in interest over twenty years, on top of any savings you could get from the competitively low interest rate. (But keep in mind this number doesn’t include any extra repayments or interest rate changes you may have over the life of your loan).
At the end of the day, the core of this question might really be: is Unloan’s discount worth it? And the answer? Up to you. There are plenty of vital questions to ask yourself when refinancing, and the interest rate is merely one of them.
But if a loyalty reward sounds like a great perk to you, it could make Unloan well worth checking out! Not to mention Unloan won "Best New Home Loan" at this year's Mozo Experts Choice Home Loan Awards, so it's an eye-catching offer all around.
Compare low-interest rate home loans below.
Home loan comparisons on Mozo
Promoted
-
Fixed Express Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$2,852
Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).
- interest rate
-
1 year - 5.84% p.a. (6.19% p.a.*)
2 years - 5.54% p.a. (6.11% p.a.*)
3 years - 6.04% p.a. (6.21% p.a.*)
4 years - 6.04% p.a. (6.20% p.a.*)
5 years - 6.04% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.09% p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$5,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,852
- Extra repayments
-
yes - up to 20% during the fixed period
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes - partial only
- Split account
-
no
- Other restrictions
-
Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Unloan Variable
- Owner Occupier
- LVR <80%
- 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
-
Fixed Express Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.54
%
p.a.
Fixed 2 years
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$2,852
Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).
- interest rate
-
1 year - 5.84% p.a. (6.19% p.a.*)
2 years - 5.54% p.a. (6.11% p.a.*)
3 years - 6.04% p.a. (6.21% p.a.*)
4 years - 6.04% p.a. (6.20% p.a.*)
5 years - 6.04% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.09% p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$5,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,852
- Extra repayments
-
yes - up to 20% during the fixed period
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes - partial only
- Split account
-
no
- Other restrictions
-
Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
5.59
%
p.a.
Fixed 5 years
- Comparison rate
-
6.27
%
p.a.
- Initial monthly repayment
-
$2,867
Get repayment certainty with HSBC’s low 2 Year Fixed Rate Home Loan. Make up to $10,000 of extra repayments a year. The option to split your home loan between fixed and variable. Plus, score $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 28 February 2023 and settle by 30 April 2023.
- interest rate
-
1 year - 5.79% p.a. (6.47% p.a.*)
2 years - 5.59% p.a. (6.40% p.a.*)
3 years - 5.59% p.a. (6.35% p.a.*)
4 years - 5.59% p.a. (6.31% p.a.*)
5 years - 5.59% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$390.00 yearly
- Discharge Fee
-
$300.00
- Package
-
Home Loan Package
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$7,500,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,867
- Extra repayments
-
yes - free up to $10,000 p.a.
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about HSBC home loans
-
Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
- Interest rate
-
5.69
%
p.a.
Fixed 5 years
- Comparison rate
-
5.97
%
p.a.
- Initial monthly repayment
-
$2,899
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
- interest rate
-
1 year - 5.85% p.a. (6.14% p.a.*)
2 years - 5.69% p.a. (6.08% p.a.*)
3 years - 5.69% p.a. (6.04% p.a.*)
4 years - 5.69% p.a. (6.00% p.a.*)
5 years - 5.69% p.a. (5.97% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge Fee
-
$400.00
- Package
-
-
- Maximum loan to value ratio
-
70.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,899
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Macquarie home loans
Go to site -
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
- Interest rate
-
5.69
%
p.a.
Fixed 4 years
- Comparison rate
-
6.23
%
p.a.
- Initial monthly repayment
-
$2,899
Convenient offset account. No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
- interest rate
-
1 year - 5.85% p.a. (6.36% p.a.*)
2 years - 5.69% p.a. (6.30% p.a.*)
3 years - 5.69% p.a. (6.26% p.a.*)
4 years - 5.69% p.a. (6.23% p.a.*)
5 years - 5.89% p.a. (6.20% p.a.*)
- Fixed loan revert rate
-
6.14% p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge Fee
-
$400.00
- Package
-
Package
- Maximum loan to value ratio
-
70.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,899
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Macquarie home loans
Go to site -
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.28
%
p.a.
- Initial monthly repayment
-
$2,899
Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.
- interest rate
-
1 year - 6.19% p.a. (6.45% p.a.*)
2 years - 5.69% p.a. (6.34% p.a.*)
3 years - 5.69% p.a. (6.28% p.a.*)
4 years - 5.89% p.a. (6.30% p.a.*)
5 years - 5.89% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.34% p.a.
- Upfront fees
-
$799
- Ongoing fees
-
$6.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,899
- Extra repayments
-
yes - free up to 1 year in advance
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Monthly fee only applies to fixed period of loan.
- Other benefits
-
-
- 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 -
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.28
%
p.a.
- Initial monthly repayment
-
$2,899
Get the security of a competitive fixed rate home loan for 2 years with IMB. Get up to $4,000 cashback (T&Cs apply). Up to 12 months repayments in advance without penalties. Free Internet and Mobile Banking redraws (T&Cs apply). Up to a 30 year loan term. Split loan available. No offset account.
- interest rate
-
1 year - 6.19% p.a. (6.45% p.a.*)
2 years - 5.69% p.a. (6.34% p.a.*)
3 years - 5.69% p.a. (6.28% p.a.*)
4 years - 5.89% p.a. (6.30% p.a.*)
5 years - 5.89% p.a. (6.27% p.a.*)
- Fixed loan revert rate
-
6.34% p.a.
- Upfront fees
-
$799
- Ongoing fees
-
$6.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,899
- Extra repayments
-
yes - free up to 1 year in advance
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Monthly fee only applies to fixed period of loan.
- Other benefits
-
-
- 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 -
Fixed Rate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
5.74
%
p.a.
Fixed 3 years
- Comparison rate
-
6.81
%
p.a.
- Initial monthly repayment
-
$2,915
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- interest rate
-
1 year - 6.14% p.a. (7.13% p.a.*)
2 years - 5.74% p.a. (6.94% p.a.*)
3 years - 5.74% p.a. (6.81% p.a.*)
4 years - 5.89% p.a. (6.75% p.a.*)
5 years - 5.99% p.a. (6.69% p.a.*)
- Fixed loan revert rate
-
7.24% p.a.
- Upfront fees
-
$160
- Ongoing fees
-
$0.00
- Discharge Fee
-
$160.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$2,915
- Extra repayments
-
yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
Optional - $10 per month - 1 year fixed term only
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
No monthly fee after end of fixed rate term. Lock your fixed rate for 90 days for a fee of $750 per $1m in lending (or part thereof).
- Special Offers
-
$3,000 cashback for eligible First Home Buyers borrowing $250k+, $2,000 cashback when you refinance loans of $250k+, <80% LVR, settle within 180 days for first home buyers, 120 days for refinances. Excludes refinances from ANZ, ANZ Plus and Suncorp.
Read reviews and learn more about ANZ home loans
-
Unloan Variable
- Owner Occupier
- LVR <80%
- 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 -
Discounted Home Value Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.99
%
p.a.
- Initial monthly repayment
-
$2,995
Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Receive $3,288 cashback when you refinance an existing home loan. Minimum loan amount of $250,000, settle within 120 days from applying.
- interest rate
-
5.99% p.a. (5.99% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$15,000,000
- 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
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Interest only payment option is for a maximum of 5 years.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about HSBC home loans
-
Budget Home Loan
- LVR <80%
- Owner Occupier
- Principal & Interest
- 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 -
Express Home Loan
- Owner Occupier
- Principal & Interest
- LVR <90%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.22
%
p.a.
- Initial monthly repayment
-
$3,027
Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- interest rate
-
6.09% p.a. (6.22% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$5,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
$3,027
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
no
- Other restrictions
-
Electronic Valuation: $134. Full Valuation <$1m: $220 and>$1m: $440. Loan applicable when buying or refinancing an established property in a capital city or major regional centre.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Bendigo Bank home loans
Go to site -
Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,043
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- interest rate
-
6.14% p.a. (6.16% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge Fee
-
$400.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- 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
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about Macquarie 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
-
Offset Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Initial monthly repayment
-
$3,043
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- interest rate
-
6.14% p.a. (6.39% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge Fee
-
$400.00
- Package
-
Package
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
$10,000,000
- 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
-
-
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
Waived annual fee for credit card added to the home loan.
- Special Offers
-
-
Read reviews and learn more about Macquarie home loans
Go to site -
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
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.