Why this home loan from Unloan is hard to beat
According to our home loan experts, if they were to pull together a list of all the things that you’d want in a home loan, it would have a low rate, no fees, features to help you pay off your loan sooner, and come from a trusted lender.
What if we told you there was a home loan that has all this… and more.
Unloan is a digital home loan provider backed by and built by CommBank. For the past three years running, it’s taken out a Mozo Experts Choice Low Cost Home Loan Award^, meaning that of all the 444 home loans analysed for the awards in 2025, it ranked among the lowest cost overall.
It also has Australia’s first ever home loan loyalty program. For every year that you stick with Unloan, it will reduce the interest rate on your home loan by 0.01% p.a. off its already low variable interest rate (T&Cs apply).
The loan also has no fees – no application, account, change or exit fees – which means that 100% of the repayments will go towards paying down your home loan. While there isn’t an offset account, you can save on interest by making extra repayments, with unlimited free redraw available whenever you need the funds.
“I know it sounds a little too good to be true, but it’s not,” said Peter Marshall, Mozo’s interest rate expert and Mozo Experts Choice Awards judge. “This home loan really is hard to beat when it comes to great value and top money-saving features.”
According to Unloan, you can apply for the loan in minutes. It is 100% owned by CommBank but you can only apply via Unloan directly. The loan isn’t available through CommBank or via mortgage brokers.
There are some eligibility criteria to be aware of. The standard deposit required is 20%, though in some instances, Unloan will lend with a deposit of 10% (T&Cs apply). The loan can only be used for existing properties, not for construction or off the plan. Unloan also doesn’t participate in the Home Guarantee Scheme or other government home-buyer assistance schemes.
It’s important to remember that no home loan is perfect for everyone, this one ticks so many boxes that it’s absolutely worth looking into.
Unloan Owner Occupier Home Loan
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Unloan Variable Home Loan
- 5.24% p.a. variable rate (5.15% p.a. comparison rate*)
- Zero upfront or ongoing fees
- Low cost home loan winner – Mozo Experts Choice Awards 2023, 2024 & 2025^
Unloan’s Variable Home Loan has taken out a low cost home loan award for an impressive third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner occupiers a super low 5.24% p.a. variable rate (5.15% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.
Other digital home loan options
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We’ll keep an eye on rates, fees, and product updates and send you an email as soon as we see a change. Notify me for changes on:
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Greater Bank Discount Great Rate Home Loan
- Variable rate from 5.19% p.a. (5.20% p.a. comparison rate*)
- Get up to $3,000 cashback when you apply online (T&Cs apply)
- Mozo Experts Choice Awards winner for Low Cost Home Loan in 2025^
Greater Bank has one of the most competitive variable rates in our database at 5.19% p.a. (5.20% p.a. comparison rate*), and it also won a Mozo Experts Choice Award for Low Cost Home Loan.
Sweetening the deal is Greater’s cashback offer, which can land you up to $3,000 back in your pocket when you apply for this loan online (T&Cs apply).
There’s no offset account with this loan, but you’re able to make extra repayments and can redraw those funds at any time. There are no ongoing fees, but you will need to pay a $180 application fee.
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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.
^See information about the Mozo Experts Choice Home Loan Awards
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