The details shown below are for an owner occupier taking out a principal & interest loan between $500,000 and $2,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 85%
The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan between $500,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 85%
The details shown below are for an investor taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $500,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a interest only loan between $50,000 and $2,000,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $500,000 | $2,000,000 |
| | Owner Occupier | Principal & Interest | < 80% | $50,000 | $2,000,000 |
| | Owner Occupier | Principal & Interest | 80%-85% | $50,000 | $2,000,000 |
| | Owner Occupier | Principal & Interest | 85%-95% | $50,000 | $2,000,000 |
| | Investor | Principal & Interest | < 80% | $500,000 | $2,000,000 |
| | Investor | Principal & Interest | < 80% | $50,000 | $2,000,000 |
| | Investor | Principal & Interest | 80%-85% | $50,000 | $2,000,000 |
| | Investor | Principal & Interest | 85%-90% | $50,000 | $2,000,000 |
| | Investor | Interest Only | < 80% | $500,000 | $2,000,000 |
| | Investor | Interest Only | < 80% | $50,000 | $2,000,000 |
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $500,000 $2,000,000
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $50,000 $2,000,000
Owner Occupier (Principal & Interest)
LVR 80%-85%
Loan: $50,000 $2,000,000
Owner Occupier (Principal & Interest)
LVR 85%-95%
Loan: $50,000 $2,000,000
Investor (Principal & Interest)
LVR < 80%
Loan: $500,000 $2,000,000
Investor (Principal & Interest)
LVR < 80%
Loan: $50,000 $2,000,000
Investor (Principal & Interest)
LVR 80%-85%
Loan: $50,000 $2,000,000
Investor (Principal & Interest)
LVR 85%-90%
Loan: $50,000 $2,000,000
Investor (Interest Only)
LVR < 80%
Loan: $500,000 $2,000,000
Investor (Interest Only)
LVR < 80%
Loan: $50,000 $2,000,000
The Gateway Bank Low Rate Essentials Home Loan could be the ‘no frills’ home loan option you’ve been searching for. This loan features variable rates starting from a low 2.56% (2.59% comparison rate*), helping first home buyers break into the property market and investors tackle their next property, plus there are also no application or ongoing service fees to worry about.
Whether you’re after your first home or have your eyes on your next investment, rest assured that the Gateway Bank Low Rate Home Loan could offer great value through competitive rates and handy features. The loan offers a variable rate starting at 2.56% (2.59% comparison rate*) for owner occupiers and 2.96% (2.99% comparison rate*) for investors, plus there’s no application, settlement or service fees, but there is a $275 legal fee.
If you happen to fall into some extra cash, you’ll be able to make extra repayments towards your loan for free. And if you ever need any of those extra contributions back, there’s also a free redraw facility attached to this loan - just be aware that the minimum amount you can redraw is $500. There’ also no offset account with this loan.
With a maximum LVR of up to 80% for owner occupiers, if you’re a first home buyer keen to break into the market you’ll be able to apply with a deposit under 20%, however, this does mean that your rate will jump to 3.15% (3.18% comparison rate*). The loan also carries a maximum LVR for investors of 90%, although this will also increase your rate up to 3.60% (3.62% comparison rate*). You’ll also need to remember that once you’ve paid out your loan, you’ll need to pay a $300 discharge fee.
The Gateway Bank Low Rate Essentials Home Loan is a great choice for first home buyers or investors after a ‘no frills’ option who aren’t fussed with having features like an offset account.
Keep in mind that while the maximum LVR is 80% for owner occupiers, if you are planning to apply with a deposit of less than 20%, you will have to pay lenders mortgage insurance.
2.56% p.a.
n/a
n/a
n/a
2.59% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$500,000
$2,000,000
none
80.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
2.60% p.a.
n/a
n/a
n/a
2.63% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
none
80.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
2.69% p.a.
n/a
n/a
n/a
2.72% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
80.00%
85.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.15% p.a.
n/a
n/a
n/a
3.18% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
85.00%
95.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
2.96% p.a.
n/a
n/a
n/a
2.99% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$500,000
$2,000,000
none
80.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.01% p.a.
n/a
n/a
n/a
3.04% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
none
80.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.40% p.a.
n/a
n/a
n/a
3.42% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
80.00%
85.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.60% p.a.
n/a
n/a
n/a
3.62% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
85.00%
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.24% p.a.
n/a
n/a
n/a
3.27% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$500,000
$2,000,000
none
80.00%
Investor
Interest Only
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
3.38% p.a.
n/a
n/a
n/a
3.40% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$275.00
$0.00
$0.00
n/a
$0.00
$300.00
$50,000
$2,000,000
none
80.00%
Investor
Interest Only
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$500.00
yes
no
A $95 fee applies for each security discharge in addition to the first. A valuation fee may apply if non-standard or more than one security is used.
none
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.
They have a low interest rate. It does not cost anything to revert to a fixed interest rate. They have great customer service. They're not big and arrogant.
Read full reviewThey have a low interest rate. It does not cost anything to revert to a fixed interest rate. They have great customer service. They're not big and arrogant.
Gateway Bank is a deposit taking institution that is open to all Australians, who in turn will receive the excellent service and value from Gateways' products. Gateway Bank has a comprehensive range of products in home loans, term deposits, personal loans, kids savings accounts, car loans, everyday banking accounts, savings accounts and debit cards.
Bank of Queensland
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AMP Bank
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Bank of Queensland
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AMP Bank
Variable Rate Loan (Professional Package)
2.59% p.a. variable
3.00% p.a.
Bank of Queensland
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Homestar
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fixed 3 years
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Bank of Queensland
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2.25% p.a.
fixed 3 years
3.41% p.a.
AMP Bank
Fixed Rate Loan (Professional Package)
2.49% p.a.
fixed 3 years
3.07% p.a.
Homestar
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2.29% p.a.
2.32% p.a.
$0.00
Yard
Variable Home Loan Special
2.19% p.a.
2.22% p.a.
$0.00
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1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$0.00
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1.99% p.a.variable for 24 months and then 2.50% p.a.
2.93% p.a.
$395.00 yearly
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.
