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First Option Bank The Complete Package

Advertiser disclosure
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 60%
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 60%
The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 90%
The details shown below are for an investor taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 60%
The details shown below are for an investor taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 70%
The details shown below are for an investor taking out a principal & interest loan between $150,000 and $3,500,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 60%
The details shown below are for an investor taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 70%
The details shown below are for an investor taking out a interest only loan between $150,000 and $3,500,000 with an LVR below 90%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest < 60% $150,000 $3,500,000
Owner Occupier Principal & Interest 60%-70% $150,000 $3,500,000
Owner Occupier Principal & Interest 70%-90% $150,000 $3,500,000
Owner Occupier Interest Only < 60% $150,000 $3,500,000
Owner Occupier Interest Only 60%-70% $150,000 $3,500,000
Owner Occupier Interest Only 70%-90% $150,000 $3,500,000
Investor Principal & Interest < 60% $150,000 $3,500,000
Investor Principal & Interest 60%-70% $150,000 $3,500,000
Investor Principal & Interest 70%-90% $150,000 $3,500,000
Investor Interest Only < 60% $150,000 $3,500,000
Investor Interest Only 60%-70% $150,000 $3,500,000
Investor Interest Only 70%-90% $150,000 $3,500,000
  • Owner Occupier (Principal & Interest)
    LVR < 60%
    Loan: $150,000 $3,500,000
  • Owner Occupier (Principal & Interest)
    LVR 60%-70%
    Loan: $150,000 $3,500,000
  • Owner Occupier (Principal & Interest)
    LVR 70%-90%
    Loan: $150,000 $3,500,000
  • Owner Occupier (Interest Only)
    LVR < 60%
    Loan: $150,000 $3,500,000
  • Owner Occupier (Interest Only)
    LVR 60%-70%
    Loan: $150,000 $3,500,000
  • Owner Occupier (Interest Only)
    LVR 70%-90%
    Loan: $150,000 $3,500,000
  • Investor (Principal & Interest)
    LVR < 60%
    Loan: $150,000 $3,500,000
  • Investor (Principal & Interest)
    LVR 60%-70%
    Loan: $150,000 $3,500,000
  • Investor (Principal & Interest)
    LVR 70%-90%
    Loan: $150,000 $3,500,000
  • Investor (Interest Only)
    LVR < 60%
    Loan: $150,000 $3,500,000
  • Investor (Interest Only)
    LVR 60%-70%
    Loan: $150,000 $3,500,000
  • Investor (Interest Only)
    LVR 70%-90%
    Loan: $150,000 $3,500,000
Rate
6.49% p.a.
Comparison Rate
6.82% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
6.60% p.a.
Comparison Rate
6.93% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
6.80% p.a.
Comparison Rate
7.13% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
6.69% p.a.
Comparison Rate
7.02% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
6.80% p.a.
Comparison Rate
7.13% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
7.00% p.a.
Comparison Rate
7.33% p.a.
Service fee
$375.00 yearly
Upfront fee
$0
Rate
6.74% p.a.
Comparison Rate
7.10% p.a.
Service fee
$375.00 yearly
Upfront fee
$400
Rate
6.85% p.a.
Comparison Rate
7.21% p.a.
Service fee
$375.00 yearly
Upfront fee
$400
Rate
7.05% p.a.
Comparison Rate
7.41% p.a.
Service fee
$375.00 yearly
Upfront fee
$400
Rate
6.94% p.a.
Comparison Rate
7.30% p.a.
Service fee
$375.00 yearly
Upfront fee
$400
Rate
7.05% p.a.
Comparison Rate
7.41% p.a.
Service fee
$375.00 yearly
Upfront fee
$400
Rate
7.25% p.a.
Comparison Rate
7.60% p.a.
Service fee
$375.00 yearly
Upfront fee
$400

Mozo editorial review First Option Bank The Complete Package - last updated: 1 December 2023

binocular icon
What's hot
  • 100% offset account
  • Free extra repayments with a free redraw
  • Includes $1,000 towards legal and valuation costs (T&Cs)
What's not
  • $375 annual fee
Mozo snapshot

Ready to level up your home loan game? The Complete Package spruiks all the advantages of First Option Bank’s Simple Home loan, plus the coveted offset account.

key icon
Key features

Good news first. The Complete Package has free extra repayments, a free redraw facility, and a 100% offset account – an immediate plus. It’s basically the Simple Home Loan with a little bit extra. There’s no application fee, and like the Simple Home Loan, First Option will chuck in $1,000 toward the costs of legal and valuation fees (T&Cs apply). 

You can also attach an eco-rewards credit card to the account. First Option Bank claims this low-rate credit card is fee-free, though keep in mind third-party charges may apply. 

The less inspiring news is that you have to pay a $375 annual fee to get all these bonus features, and the loan has a headline variable rate of 6.49% p.a. (6.82% p.a. comparison rate*) for LVRs < 60% – which is fairly standard for loans of its kind. You can turn it into an investment or interest-only loan, but interest rate surcharges of 0.50% and 0.20% apply, respectively. 

snapshot
Who is it good for

Buyers who like the features of the Simple Home Loan but want an offset account would do well to check this one out.

question icon
Any catches

It’s pretty hard to see past that $375 annual fee.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.49% p.a.

n/a

n/a

n/a

6.82% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

none

60.00%
Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.60% p.a.

n/a

n/a

n/a

6.93% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

60.00%

70.00%
Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.80% p.a.

n/a

n/a

n/a

7.13% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

70.00%

90.00%
Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.69% p.a.

n/a

n/a

n/a

7.02% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

none

60.00%
Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.80% p.a.

n/a

n/a

n/a

7.13% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

60.00%

70.00%
Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

7.00% p.a.

n/a

n/a

n/a

7.33% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

n/a

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

70.00%

90.00%
Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

Valuation and legal fees covered up to $1,000. Anything above this charged at cost.

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.74% p.a.

n/a

n/a

n/a

7.10% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

none

60.00%
Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.85% p.a.

n/a

n/a

n/a

7.21% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

60.00%

70.00%
Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

7.05% p.a.

n/a

n/a

n/a

7.41% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

70.00%

90.00%
Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

6.94% p.a.

n/a

n/a

n/a

7.30% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

none

60.00%
Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

7.05% p.a.

n/a

n/a

n/a

7.41% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

60.00%

70.00%
Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Details

Rates and fees information correct as at 8 May 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

7.25% p.a.

n/a

n/a

n/a

7.60% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a
Fees

$400.00

n/a

n/a

n/a

n/a

$375.00 yearly

$175.00
Other financial bits

$150,000

$3,500,000

70.00%

90.00%
Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

none

none

yes - free

$0.00

yes

yes

none

Fee-free low-rate credit card.

none

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.

Customer Reviews

How are First Option Bank home loans rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust
Based on 4 First Option Bank home loan reviews

About First Option Bank

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for HSBC
HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a. variable

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.19% p.a. variable

6.43% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.19% p.a.

6.43% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

$0.00

Thumbnail icon for HSBC
HSBC

Home Value Loan

6.09% p.a.

6.09% p.a.

$0.00

Thumbnail icon for Unloan
Unloan

Variable

6.29% p.a.

6.20% p.a.

$0.00

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

$0.00

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

$0.00

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

$248.00 yearly

Thumbnail icon for ubank
ubank

Flex Home Loan

6.19% p.a.

6.43% p.a.

$250.00 yearly

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Aussie

Elevate

6.09% p.a.

6.20% p.a.

$0.00

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.

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