8.7 / 10

based on 1390 reviews as rated by Mozo community

Greater Bank home loans

Greater Bank (previously known as Greater Building Society) is an Australian, customer owned banking organisation that commenced operations in 1945. At present, Greater services more than 25,000 customers, as well as 3,000 ATMs across Australia.

In 2019, Greater Bank took out the major title of Home Lender Bank of the Year in the Mozo Experts Choice Awards on top of a large number of other awards including best First Home Buyer Loan, Split Home Loan, and Fixed Rate Home Loan.

Whether you’re purchasing your first home or adding a new property to your investment portfolio, Greater has a range of fixed, variable and package home loans available to suit whatever your property ambitions.

What home loans do Greater Bank offer?

Rates and fees verified as correct at 25 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

There are two fixed rate options from Greater Bank which you can choose from depending on whether you’re an owner occupier or property investor. The fixed rate is available on loans starting from $40,000 and you can borrow up to 95% of your property’s value if you’re an owner occupier or up to 90% if you’re an investor. There are an extensive range of fixed rate terms ranging from a period of 1 year up to 5 years with a choice of principal and interest or interest only payments. While you won’t incur a monthly service fee, you may be charged if you make extra repayments above the required limit during the fixed period.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

2.49% p.a.

3.46% p.a.

$0.00

$180

2.39% p.a.

3.36% p.a.

$0.00

$180

2.49% p.a.

3.46% p.a.

$0.00

$180

2.39% p.a.

3.36% p.a.

$0.00

$180

2.79% p.a.

3.81% p.a.

$0.00

$180

2.69% p.a.

3.71% p.a.

$0.00

$180

Variable Rate Home Loans

Greater has several variable home loan offerings including a basic, no frills home loan starting from $40,000 and an investor option which has a maximum LVR of 90%. Greater’s variable home loans offer principal and interest or interest only payments and you can choose a repayment frequency to match your pay cycle (i.e. weekly, fortnightly or monthly). If you choose a variable rate loan from Greater you won’t have to pay any monthly service fees and you’ll receive heaps of value from flexible features including an extra repayment facility, free repayment holidays (when you’re ahead of your repayments) and unlimited redraws via online banking.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.04% p.a.

3.06% p.a.

$0.00

$180

3.34% p.a.

3.36% p.a.

$0.00

$180

2.68% p.a.

2.69% p.a.

$0.00

$180

2.98% p.a.

3.00% p.a.

$0.00

$180

3.33% p.a.

3.35% p.a.

$0.00

$180

3.76% p.a.

3.78% p.a.

$0.00

$180

3.66% p.a.

3.68% p.a.

$0.00

$180

3.29% p.a.

3.31% p.a.

$0.00

$180

2.98% p.a.

3.00% p.a.

$0.00

$180

3.59% p.a.

3.61% p.a.

$0.00

$180

3.28% p.a.

3.30% p.a.

$0.00

$180

4.14% p.a.

4.16% p.a.

$0.00

$180

4.04% p.a.

4.06% p.a.

$0.00

$180

Fixed Package Home Loan

Looking for the ultimate package home loan? The Ultimate Home Loan package from Greater is available with its fixed loans starting from $40,000. Greater’s package delivers on all the home loan essentials including an extra repayment facility, although fees apply for this feature on fixed rate loans, and a 100% offset account which can reduce your interest payments over the term of your loan. Plus you’ll be able to enjoy some additional benefits such as a lower home loan interest rate and waived fees on your transaction account and credit card. You may even be eligible for discounts on your insurance (i.e. Building, Contents, Landlords or Motor Vehicle). If you take advantage of these money saving features and benefits, they should offset the package’s annual fee.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

2.49% p.a.

3.71% p.a.

$395.00 yearly

$180

2.39% p.a.

3.61% p.a.

$395.00 yearly

$180

2.49% p.a.

3.71% p.a.

$395.00 yearly

$180

2.39% p.a.

3.61% p.a.

$395.00 yearly

$180

2.69% p.a.

3.96% p.a.

$395.00 yearly

$180

2.79% p.a.

4.06% p.a.

$395.00 yearly

$180

Variable Package Home Loan

Like the fixed rate alternative, the variable rate Ultimate Home Loan package from Greater is available from $40,000. You’ll enjoy all the same great home loan features to help you save on your home loan, including a 100% offset account and an extra repayment facility, which is fee free for variable rate loans. Other money-saving offers that come with a Great variable rate home loan package include waived fees on your bank account and credit card, plus discounts on a range of different insurance options - such as contents, landlord and car insurance - for eligible customers. Don’t forget to make use of these features to cancel out the cost of the annual fee.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.09% p.a.

3.52% p.a.

$395.00 yearly

$180

2.94% p.a.

3.37% p.a.

$395.00 yearly

$180

3.39% p.a.

3.82% p.a.

$395.00 yearly

$180

3.24% p.a.

3.67% p.a.

$395.00 yearly

$180

3.56% p.a.

3.98% p.a.

$395.00 yearly

$180

3.46% p.a.

3.88% p.a.

$395.00 yearly

$180

3.39% p.a.

3.82% p.a.

$395.00 yearly

$180

3.24% p.a.

3.67% p.a.

$395.00 yearly

$180

3.69% p.a.

4.11% p.a.

$395.00 yearly

$180

3.54% p.a.

3.96% p.a.

$395.00 yearly

$180

3.84% p.a.

4.25% p.a.

$395.00 yearly

$180

3.94% p.a.

4.35% p.a.

$395.00 yearly

$180

Line of Credit

From buying an investment property to renovating your home, a line of credit from Greater allows you to use the equity in your home to fund your goals. Greater’s line of credit loan is available from $40,000 and you can borrow up to 90% of your property’s value. You won’t have to make any set repayments and you’ll only be charged interest on the amount you’ve used of your available credit which is standard for line of credit home loans. Greater also offers plenty of ways to freely access your funds via an online redraw facility as well as mobile and over the phone banking. There is a monthly fee to consider and the maximum loan is 30 years.

Product Rate Comparison Rate* Service fee Upfront fee

4.60% p.a.

n/a

$10.00 monthly

$680

4.60% p.a.

n/a

$10.00 monthly

$680

*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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Greater Bank home loan features in a glance

Image of coins

No monthly service fee

You'll pay off your loan free of the bite of an ongoing payment fee with a fixed or variable home loan from Greater.

Free icon

Package benefits

It’s easy to see why Greater’s package home loan is called ‘Ultimate’. In return for an annual fee, you’ll receive heaps of additional benefits on everything from your transaction account and credit card to your car insurance.  

Image of coins

Weekly, fortnightly or monthly repayments

Wouldn’t it be nice if you got your pay cheque just in time to meet your loan repayments? Greater’s fixed and variable home loans give you flexibility to choose between monthly, fortnightly and even weekly repayments.  

Image of coins

Owner occupier and investor loan options

Greater’s fixed, variable and package home loans have options for owner occupiers as well as property investors. If you’re an owner occupier you can borrow up to 95% of your property’s value while investors can only borrow up to 90%.

How are Greater Bank home loans rated?

Mozo users have rated Greater Bank home loan on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Greater Bank home loans
Overall
8.7/10
Price
Features
Customer service
Convenience
Trust
224 reviews

Recent Greater Bank home loan reviews

Greater Bank Great Rate Home Loan (Fixed) review
Overall 9/10
I know the staff in my local branch well now.

Great customer service, banks in all capital cities, internet banking easy to navigate.

Read full review

Great customer service, banks in all capital cities, internet banking easy to navigate.

Price
9/10
Features
5/10
Customer service
10/10
Convenience
10/10
Trust
8/10
Less
Donna, New South Wales reviewed 7 days ago
Greater Bank Ultimate Home Loan (Fixed, Package) review
Overall 9/10
Greater Bank is a really great bank.

I like banking with Greater Bank, as they offer competitive interest rates and good customer service.

Read full review

I like banking with Greater Bank, as they offer competitive interest rates and good customer service.

Price
8/10
Features
7/10
Customer service
8/10
Convenience
8/10
Trust
8/10
Less
Perihan, New South Wales reviewed about 2 months ago
Greater Bank Great Rate Home Loan review
Overall 10/10
Greater Bank are truly great.

Greater Bank is the best financial institution that I have dealt with. Great products and services and staff are friendly, efficient and real.

Read full review

Greater Bank is the best financial institution that I have dealt with. Great products and services and staff are friendly, efficient and real.

Price
8/10
Features
9/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Jodie, New South Wales reviewed 3 months ago
Greater Bank Home Loan review
Overall 9/10
Excellent

I like Greater Bank because they offer competitive interest rates and are willing to negotiate with customers. They offer mobile lenders to visit customers to arrange home loans and make the application process easy.

Read full review

I like Greater Bank because they offer competitive interest rates and are willing to negotiate with customers. They offer mobile lenders to visit customers to arrange home loans and make the application process easy.

Price
8/10
Features
6/10
Customer service
8/10
Convenience
8/10
Trust
9/10
Less
Perihan, New South Wales reviewed 4 months ago
Greater Bank Home Loan review
Overall 6/10
Just wish they had Google Pay.

Just wish they had a little bit more tech like Google Pay. Could pass on more rate cuts.

Read full review

Just wish they had a little bit more tech like Google Pay. Could pass on more rate cuts.

Price
3/10
Features
5/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Nathan, New South Wales reviewed 4 months ago

What do you need to apply for a Greater Bank home loan?

If you’re ready to kick off your application for a home loan with Greater Bank, check out this handy checklist to see what documents you may need.

  • Valid ID such as a driver’s licence, passport or photo card
  • Proof of income including latest payslips (can’t be more than four weeks old), personal and business tax returns if self employed and a letter from the Managing Real Estate Agent if you’re currently receiving rental income.
  • Evidence of any existing loans and a copy of a rental statement issued by a Real Estate Agent if you’re currently renting.

Home loan quick links