Will the RBA hike the cash rate in February 2024? CBA, ANZ, NAB, and Westpac home loan predictions
Another year, another look at the Reserve Bank of Australia (RBA). The last two years have seen a crusade against inflation from the central bank, adding 4.25% to the cash rate between May 2022 and December 2023.
Rate hikes have come hard and fast, but it looks like the RBA is getting ready to hold. So, what can home loan borrowers expect for the first interest rate decision of 2024? And is this the year we finally get the first cash rate cut since 2020?
Let’s break down forecasts and predictions from the Big Four Banks for the RBA’s 6 February decision.
Will the RBA hike interest rates in February?
Most experts agree the RBA will not hike interest rates in February 2024.
This is primarily due to moderating inflation. Currently, the cash rate is in deeply restrictive territory at 4.35%, so it’s working to pump the brakes on the economy and slow things down. If inflation ticks up, then the RBA will hike, but there isn’t a pressing need right now.
“There are definite signs of softening throughout the economy,” says Mozo interest rates expert Peter Marshall.
“We had some spending figures released at the end of last year, which were very disappointing. So there will not be a rate increase in February.”
Commonwealth Bank, Westpac, NAB, and ANZ rate predictions for February 2024
Even hawkish NAB has revised its cash rate forecasts. Previously, the big bank had predicted another rate hike for 2024, but in light of cooler-than-expected inflation and spending data, NAB has joined CommBank, Westpac, and ANZ on a united front.
Their call? No rate hike for February – or indeed, no rate hikes for 2024.
Big Four Bank cash rate predictions – 31 January 2024
| Cash rate in February | |
| ANZ | 4.35% |
| CBA | 4.35% |
| Westpac | 4.35% |
| NAB | 4.35% |
According to the Big Four Banks, this means we’ve reached the cash rate peak for this cycle, so 4.35% is how high interest rates will go in 2024.
“There are no more rate hikes coming,” says Marshall. “We’re at the peak of the cycle. It would take something extraordinary and unexpected to change that – and I can’t see where that would come from.”
So, unless inflation does something completely unexpected, or if we hit a recession, the cash rate will remain at its current level of 4.35% until inflation comes down.
When will interest rates decrease?
Official interest rates will decrease when inflation hits the top of the RBA’s target band – 3%. The latest annual CPI figure suggests headline inflation is at 4.1%. This is a sharper drop than the RBA predicted, but still means we have a while to go.
But how much longer? Let’s look at the Big Bank forecasts for when interest rates will come down.
The earliest the Big Banks foresee rate cuts is September 2024 – the latest has them starting in December 2024. The rate cuts will likely be made in gradual 0.25% increments to bring the cash rate down into ‘neutral’ territory, between 2% to 3%, sometime in 2025.
When interest rates will come down – 31 January 2024
| Jun 24 | Sep 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | |
| NAB | 4.35% | 4.35% | 4.10% | 3.85% | 3.60% | 3.35% | 3.10% |
| Westpac | 4.35% | 4.10% | 3.85% | 3.60% | 3.35% | 3.10% | 3.10% |
| CBA | 4.35% | 4.10% | 3.60% | 3.10% | 2.85% | 2.85% | 2.85% |
CBA predicts the fastest and steepest round of rate cuts, putting the cash rate into neutral at 2.85% by June 2025. NAB has the slowest pace, only taking the cash rate to a final 3.10% by December 2025. Westpac is the medium between the two.
ANZ hasn’t made public predictions about the path of rate cuts.
Mozo rates expert Peter Marshall suggests that rate cuts could come as early as July 2024, but none of these timelines are certain. The Big Banks certainly revised their rate peak predictions enough times for us to know that monetary policy forecasts aren’t an exact science.
Besides, RBA rate changes operate with a delay. The average home loan borrower will have to wait until around two months after the first rate cut to start seeing savings in their repayments.
However, a rate-cut timeline can give borrowers and buyers an idea of where the economy could go. Since mortgage repayments are a long-haul game, knowing when savings could start tells you when could be a good time to buy, save, or refinance.
Home buying in 2024: how do interest rate changes affect home buyers?
Interest rate hikes have been a large part of why home loan repayments are so expensive. The differences are stark when looking at how much a typical borrower has to spend now vs. then.
Interest rates will likely hold about where they are for at least six months, so borrowers hoping to save interest will need to continue cost-saving strategies like:
- Putting savings in an offset account.
- Negotiating their interest rate.
- Making extra repayments.
However, Marshall warns against waiting for home loan rates to come down to buy property. Interest rates only make up part of the average mortgage repayment. The loan amount (principal) affects your finances much more.
And since property prices are projected to rise 5% this year, by the time rates start coming down, the average mortgage size will have ballooned so much the variable savings might not be worth it.
“Do not wait for rate cuts to make things affordable,” says Marshall. “If you can get in now, the sooner, the better, because instead of paying rent, you’ll pay off your mortgage.
“Rate cuts will come. If you have to max out now and go, ‘Okay, we’re going to struggle for a while,’ you can be reasonably confident that the interest rate on your mortgage will start to drop before the end of this year.”
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- Fixed
- Owner Occupier
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5.69
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Fixed 2 years
- Comparison rate
-
6.30
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$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
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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
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$248.00 yearly
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-
$400.00
- Package
-
Package
- Maximum loan to value ratio
-
70.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
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$10,000,000
- type of mortgage
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Fixed
- Repayment types
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Principal & Interest
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Owner Occupier
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Monthly
- Extra repayments
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yes - up to $10,000 p.a.
- Redraw facility
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yes - free
- Minimum redraw amount
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-
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yes
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yes
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Unloan Variable
- Owner Occupier
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-
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
-
Weekly, Fortnightly, Monthly
- 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..
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Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
Go to site- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.08
%
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
-
Monthly
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
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no
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yes
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-
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-
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6.14
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6.16
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- 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
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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
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$150,000
- maximum borrowing amount
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$10,000,000
- type of mortgage
-
Variable
- Repayment types
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Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
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yes
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-
- Other benefits
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-
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Go to site- Interest rate
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6.04
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Variable
- Comparison rate
-
6.08
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- Initial monthly repayment
-
$3,011
Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required.
- interest rate
-
6.04% p.a. (6.08% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$530
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
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Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
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Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.
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-
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5.89
%
p.a.
Fixed 1 year
- Comparison rate
-
6.30
%
p.a.
- Initial monthly repayment
-
$2,962
Lock in a competitive fixed interest rate and enjoy peace of mind for the fixed period with SWS Bank’s Optimum Fixed Rate Home Loan.There are no application, ongoing or banking fees to pay and first home buyers and refinancers can apply with a speedy online application. Get the flexibility of loan split options and redraw facility. No offset account available for fixed rate proportion of loan. Other fees may be applicable. T&Cs apply.
- interest rate
-
1 year - 5.89% p.a. (6.53% p.a.*)
2 years - 5.69% p.a. (6.42% p.a.*)
3 years - 5.59% p.a. (6.30% p.a.*)
- Fixed loan revert rate
-
6.60% p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
-
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
-
- maximum borrowing amount
-
$2,500,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $20,000 p.a. during fixed rate term
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
no
- Split account
-
yes
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-
Legal and exit fee at cost. Valuation fee charged at cost, starting from $132.
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-
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Special Real Deal Home Loan
- Owner Occupier
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Go to site- Interest rate
-
5.99
%
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Variable
- Comparison rate
-
6.03
%
p.a.
- Initial monthly repayment
-
$2,995
Enjoy no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and eligibility criteria apply.
- interest rate
-
5.99% p.a. (6.03% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$595
- Ongoing fees
-
$0.00
- Discharge Fee
-
$250.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - fees apply
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Settlement fee is variable and depends on Solicitor costs. Redraw fee is $25 through branch network.
- Other benefits
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-
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-
$2,000 online cashback for new purchase or refinance loans of $250,000 -$499,999.99, $3,000 for loan amounts of $500,000 or more. Up to 80% LVR.
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OMG Home Loan
- Owner Occupier
- Principal & Interest
- <60% LVR
Go to site- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Initial monthly repayment
-
$2,995
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- interest rate
-
5.99% p.a. (6.02% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$1,500,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
Go to site- Interest rate
-
5.99
%
p.a.
Fixed 2 years
- Comparison rate
-
6.21
%
p.a.
- Initial monthly repayment
-
$2,995
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
-
1 year - 6.49% p.a. (6.28% p.a.*)
2 years - 5.99% p.a. (6.21% p.a.*)
3 years - 6.29% p.a. (6.27% p.a.*)
4 years - 6.49% p.a. (6.35% p.a.*)
5 years - 6.49% p.a. (6.37% p.a.*)
- Fixed loan revert rate
-
6.23% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$2,500,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
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-
-
Read reviews and learn more about BCU Bank home loans
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Offset Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
Go to site- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.17
%
p.a.
- Initial monthly repayment
-
$3,043
100% offset account so you can save on interest and reduce the amount you pay on your home loan. Free redraw. 100% offset account. Only 5% deposit required. No ongoing monthly loan maintenance fees to pay. Tiered interest rates so you can benefit from a lower rate when you borrow less.
- interest rate
-
6.14% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
n/a
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Basic Variable Home Loan
- Owner Occupier
- LVR <60%
Go to site- Interest rate
-
6.13
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,040
Competitive interest rate. No ongoing monthly loan maintenance fees. Buy your home with as little as a 5% deposit. You can redraw your repayments if you’re ahead. Choose to repay weekly, fortnightly, or monthly. Make extra payments without penalty, to pay off your home loan even faster.
- interest rate
-
6.13% p.a. (6.16% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
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-
Legal and valuation fees charged at cost.
- Other benefits
-
-
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-
-
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Fixed Rate Home Loan
- Owner Occupier
- LVR<80%
Go to site- Interest rate
-
5.99
%
p.a.
Fixed 2 years
- Comparison rate
-
6.26
%
p.a.
- Initial monthly repayment
-
$2,995
Get repayment security with fixed rates from one to five years. Free extra repayments of up to $25,000 during the fixed rate period. Fix a portion of your loan and leave the rest variable. Borrow up to 95% of the property value. Choose to repay weekly, fortnightly, or monthly.
- interest rate
-
1 year - 6.54% p.a. (6.34% p.a.*)
2 years - 5.99% p.a. (6.26% p.a.*)
3 years - 6.39% p.a. (6.35% p.a.*)
4 years - 6.49% p.a. (6.39% p.a.*)
5 years - 6.49% p.a. (6.41% p.a.*)
- Fixed loan revert rate
-
6.29% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest, Interest Only
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
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Offset Variable Home Loan
- Principal & Interest
- LVR <60%
Go to site- Interest rate
-
6.34
%
p.a.
Variable
- Comparison rate
-
6.37
%
p.a.
- Initial monthly repayment
-
$3,108
Competitive interest rate. 100% offset account so your savings can reduce the amount of interest you pay on your home loan. No ongoing monthly fees. Buy your home with as little as a 5% deposit. You can redraw your repayments if you’re ahead. Choose to repay weekly, fortnightly, or monthly. Make extra payments without penalty, to pay off your home loan even faster.
- interest rate
-
6.34% p.a. (6.37% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
Go to site -
Promoted
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
Go to site- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.20
%
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. (6.30% p.a.*)
2 years - 5.69% p.a. (6.20% p.a.*)
3 years - 5.69% p.a. (6.16% p.a.*)
4 years - 5.89% p.a. (6.19% p.a.*)
5 years - 5.89% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
6.24% 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
-
Weekly, Fortnightly, Monthly
- 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
-
Optimum Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
- LVR <80%
Go to site- Interest rate
-
5.89
%
p.a.
Fixed 1 year
- Comparison rate
-
6.30
%
p.a.
- Initial monthly repayment
-
$2,962
Lock in a competitive fixed interest rate and enjoy peace of mind for the fixed period with SWS Bank’s Optimum Fixed Rate Home Loan.There are no application, ongoing or banking fees to pay and first home buyers and refinancers can apply with a speedy online application. Get the flexibility of loan split options and redraw facility. No offset account available for fixed rate proportion of loan. Other fees may be applicable. T&Cs apply.
- interest rate
-
1 year - 5.89% p.a. (6.53% p.a.*)
2 years - 5.69% p.a. (6.42% p.a.*)
3 years - 5.59% p.a. (6.30% p.a.*)
- Fixed loan revert rate
-
6.60% p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge Fee
-
-
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
-
- maximum borrowing amount
-
$2,500,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $20,000 p.a. during fixed rate term
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and exit fee at cost. Valuation fee charged at cost, starting from $132.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about SWSbank home loans
Go to site -
Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
Go to site- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.08
%
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
-
Monthly
- 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 -
Fixed Home Loan
- Owner Occupier
- Principal & Interest
- LVR <95%
Go to site- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.20
%
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. (6.30% p.a.*)
2 years - 5.69% p.a. (6.20% p.a.*)
3 years - 5.69% p.a. (6.16% p.a.*)
4 years - 5.89% p.a. (6.19% p.a.*)
5 years - 5.89% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
6.24% 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
-
Weekly, Fortnightly, Monthly
- 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 -
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
Go to site- Interest rate
-
5.69
%
p.a.
Fixed 2 years
- Comparison rate
-
6.30
%
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
-
Monthly
- 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 -
Mozo experts choice awards won:
- Fixed Rate Home Loan - 2024
- Investor Fixed Home Loan - 2024
Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
Go to site- Interest rate
-
5.99
%
p.a.
Fixed 2 years
- Comparison rate
-
6.21
%
p.a.
- Initial monthly repayment
-
$2,995
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
-
1 year - 6.49% p.a. (6.28% p.a.*)
2 years - 5.99% p.a. (6.21% p.a.*)
3 years - 6.29% p.a. (6.27% p.a.*)
4 years - 6.49% p.a. (6.35% p.a.*)
5 years - 6.49% p.a. (6.37% p.a.*)
- Fixed loan revert rate
-
6.23% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$2,500,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
Go to site -
Fixed Rate Home Loan
- Owner Occupier
- LVR<80%
Go to site- Interest rate
-
5.99
%
p.a.
Fixed 2 years
- Comparison rate
-
6.26
%
p.a.
- Initial monthly repayment
-
$2,995
Get repayment security with fixed rates from one to five years. Free extra repayments of up to $25,000 during the fixed rate period. Fix a portion of your loan and leave the rest variable. Borrow up to 95% of the property value. Choose to repay weekly, fortnightly, or monthly.
- interest rate
-
1 year - 6.54% p.a. (6.34% p.a.*)
2 years - 5.99% p.a. (6.26% p.a.*)
3 years - 6.39% p.a. (6.35% p.a.*)
4 years - 6.49% p.a. (6.39% p.a.*)
5 years - 6.49% p.a. (6.41% p.a.*)
- Fixed loan revert rate
-
6.29% p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest, Interest Only
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank 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
-
Weekly, Fortnightly, Monthly
- 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 -
OMG Home Loan
- Owner Occupier
- Principal & Interest
- <60% LVR
Go to site- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Initial monthly repayment
-
$2,995
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- interest rate
-
5.99% p.a. (6.02% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$1,500,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
Go to site -
Special Real Deal Home Loan
- Owner Occupier
- Principal & Interest
- LVR <80%
Go to site- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.03
%
p.a.
- Initial monthly repayment
-
$2,995
Enjoy no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and eligibility criteria apply.
- interest rate
-
5.99% p.a. (6.03% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$595
- Ongoing fees
-
$0.00
- Discharge Fee
-
$250.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - fees apply
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Settlement fee is variable and depends on Solicitor costs. Redraw fee is $25 through branch network.
- Other benefits
-
-
- Special Offers
-
$2,000 online cashback for new purchase or refinance loans of $250,000 -$499,999.99, $3,000 for loan amounts of $500,000 or more. Up to 80% LVR.
Read reviews and learn more about Newcastle Permanent 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
-
Weekly, Fortnightly, Monthly
- 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 -
Variable Home Loan 90
- Principal and Interest
- LVR <90%
Go to site- Interest rate
-
6.04
%
p.a.
Variable
- Comparison rate
-
6.08
%
p.a.
- Initial monthly repayment
-
$3,011
Affordable home loan rate for buyers or refinancers. No monthly or ongoing fees. Option to add an offset for 0.10%. Access to savings with unlimited redraws available. Minimum 10% deposit required.
- interest rate
-
6.04% p.a. (6.08% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$530
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about loans.com.au home loans
Go to site -
Basic Variable Home Loan
- Owner Occupier
- LVR <60%
Go to site- Interest rate
-
6.13
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,040
Competitive interest rate. No ongoing monthly loan maintenance fees. Buy your home with as little as a 5% deposit. You can redraw your repayments if you’re ahead. Choose to repay weekly, fortnightly, or monthly. Make extra payments without penalty, to pay off your home loan even faster.
- interest rate
-
6.13% p.a. (6.16% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
Go to site -
Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
Go to site- 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
-
Monthly
- 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 -
Offset Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
Go to site- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.17
%
p.a.
- Initial monthly repayment
-
$3,043
100% offset account so you can save on interest and reduce the amount you pay on your home loan. Free redraw. 100% offset account. Only 5% deposit required. No ongoing monthly loan maintenance fees to pay. Tiered interest rates so you can benefit from a lower rate when you borrow less.
- interest rate
-
6.14% p.a. (6.17% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
n/a
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Offset Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
Go to site- 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
-
Monthly
- 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 -
Offset Variable Home Loan
- Principal & Interest
- LVR <60%
Go to site- Interest rate
-
6.34
%
p.a.
Variable
- Comparison rate
-
6.37
%
p.a.
- Initial monthly repayment
-
$3,108
Competitive interest rate. 100% offset account so your savings can reduce the amount of interest you pay on your home loan. No ongoing monthly fees. Buy your home with as little as a 5% deposit. You can redraw your repayments if you’re ahead. Choose to repay weekly, fortnightly, or monthly. Make extra payments without penalty, to pay off your home loan even faster.
- interest rate
-
6.34% p.a. (6.37% p.a.*)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
Go to site
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.
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