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Great Southern Bank Basic Variable

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $5,000,000

The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $5,000,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $100,000 and $5,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Principal & Interest)

    LVR 90%-%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Owner Occupier (Interest Only)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $100,000 $5,000,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $100,000 $5,000,000

Rate
2.39% p.a.
Comparison Rate
2.44% p.a.
Service fee
Upfront fee
$835
Rate
2.64% p.a.
Comparison Rate
2.69% p.a.
Service fee
Upfront fee
$835
Rate
2.99% p.a.
Comparison Rate
3.04% p.a.
Service fee
Upfront fee
$835
Rate
2.84% p.a.
Comparison Rate
2.52% p.a.
Service fee
Upfront fee
$835
Rate
3.04% p.a.
Comparison Rate
2.76% p.a.
Service fee
Upfront fee
$835
Rate
2.64% p.a.
Comparison Rate
2.69% p.a.
Service fee
Upfront fee
$835
Rate
2.94% p.a.
Comparison Rate
2.99% p.a.
Service fee
Upfront fee
$835
Rate
2.89% p.a.
Comparison Rate
2.79% p.a.
Service fee
Upfront fee
$835
Rate
3.19% p.a.
Comparison Rate
3.09% p.a.
Service fee
Upfront fee
$835

Mozo editorial review Great Southern Bank Basic Variable - last updated: 28 September 2021

3.5 / 5
binocular icon
What's hot
  • Variable rates start from 2.39% p.a. (2.44% p.a. comparison rate*)
  • Free unlimited extra repayments
  • $3,000 cashback for refinancers (conditions apply)
What's not
  • No offset account
Mozo snapshot

With no ongoing fees and unlimited extra repayments, Great Southern Bank’s Basic Variable Home Loan with competitive rates from 2.39% p.a. (2.44% p.a. comparison rate*) could be a pretty good choice for all types of home buyers. Loans can start from $100,000 to as much as $5 million. It also offers flexible repayment options from weekly, fortnightly and monthly, allowing you to coordinate your payments to your pay cycle.

key icon
Key features

The Basic Variable Home Loan from Great Southern Bank is available for owner occupiers and investors looking to either buy property or refinance their current home loan with at least a 80% loan-to-value ratio. The bank does offer home loans with 85% LVR and more than 90% LVR at different rates, however those higher LVRs do not qualify for refinancing.

  • 2.39% p.a. (2.44% p.a. comparison rate*) at 80% LVR for owner occupiers making principal and interest repayments.

  • 2.65% p.a. (2.69% p.a. comparison rate*) at 80% LVR for investors making principal and interest repayments.

Another good feature of this loan is the lack of ongoing fees - unlike some other home loans that have an annual service fee. However, this Variable Home Loan has a high one time upfront fee of $835 which covers an establishment and a security administration fee. You will need to budget for this. It also has a $500 discharge fee to consider. 

For those who like making extra repayments to their loans, you'll be happy to know you can make them without any limits or penalties. Great Southern Bank’s Basic Variable Home Loan also includes a free redraw facility with no minimum or maximum redraw amount.

If you are looking to refinance your current loan, Great Southern Bank is currently offering a $3,000 cashback deal for those who have a minimum loan of $250,000 with an LVR of 80% or less. With this offer, your establishment fees will also be waived. You’ll need to apply by 31 January, 2022 and have your loan settled by 30 April, 2022.  Additional conditions may apply.

snapshot
Who is it good for

This loan could be good for refinancers with a 20% or more deposit, who can take advantage of the $3,000 cashback offer (conditions apply) and get the establishment fee waived.

question icon
Any catches

This loan comes with a pretty sizable upfront fees, which might not be ideal for those looking for a loan with minimal extra costs. It also has no offset account available and has a $500 discharge fee.

Details

Rates and fees information correct as at 18 October 2021. 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

2.39% p.a.

n/a

n/a

n/a

2.44% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

none

Receive $3,000 cashback and have the establishment fee waived when you refinance with Great Southern Bank before 31 January 2022 and settle the loan before 30 April 2022, min lending of $250,000 and maximum 80% LVR.

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 18 October 2021. 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

2.64% p.a.

n/a

n/a

n/a

2.69% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

80.00%

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

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.

Details

Rates and fees information correct as at 18 October 2021. 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

2.99% 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

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

90.00%

none

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

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.

Details

Rates and fees information correct as at 18 October 2021. 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

2.84% p.a.

n/a

n/a

n/a

2.52% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

none

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

none

Receive $3,000 cashback and have the establishment fee waived when you refinance with Great Southern Bank before 31 January 2022 and settle the loan before 30 April 2022, min lending of $250,000 and maximum 80% LVR.

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 18 October 2021. 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

3.04% p.a.

n/a

n/a

n/a

2.76% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

80.00%

90.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

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.

Details

Rates and fees information correct as at 18 October 2021. 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

2.64% p.a.

n/a

n/a

n/a

2.69% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

none

Receive $3,000 cashback and have the establishment fee waived when you refinance with Great Southern Bank before 31 January 2022 and settle the loan before 30 April 2022, min lending of $250,000 and maximum 80% LVR.

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 18 October 2021. 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

2.94% 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

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

80.00%

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

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.

Details

Rates and fees information correct as at 18 October 2021. 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

2.89% p.a.

n/a

n/a

n/a

2.79% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

none

Receive $3,000 cashback and have the establishment fee waived when you refinance with Great Southern Bank before 31 January 2022 and settle the loan before 30 April 2022, min lending of $250,000 and maximum 80% LVR.

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 18 October 2021. 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

3.19% p.a.

n/a

n/a

n/a

3.09% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$600.00

n/a

n/a

$235.00

n/a

n/a

$500.00

Other financial bits

$100,000

$5,000,000

80.00%

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

yes

no

none

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.

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Latest review of Great Southern Bank Basic Variable Home Loan

About Great Southern Bank

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.