Greater Bank home loans

Greater Bank
Greater Bank's overall rating for home loans

(as rated by the Mozo community)

8.6 / 10

based on 62 reviews

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.

Greater Bank also took out a number of 2016 Mozo Experts Choice Awards, for Best Value Fixed Rate Home Loan, Best Value Variable Investor Home Loan, Best Value Fixed Investor 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.

Rates and fees verified as correct at 05 December, 2016. Other information correct at the time of writing.

What home loans do Greater Bank offer?

Fixed Rate Home Loans 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 ‡  

4.19% p.a.

4.38% p.a.

$0.00

$0

4.09% p.a.

4.24% p.a.

$0.00

$0

Go to site

4.29% p.a.

4.41% p.a.

$0.00

$0

4.19% p.a.

4.27% p.a.

$0.00

$0


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Variable Rate Home Loans 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 ‡  

4.24% p.a.

4.24% p.a.

$0.00

$0

3.89% p.a.

3.89% p.a.

$0.00

$0

Go to site

4.44% p.a.

4.45% p.a.

$0.00

$0

4.29% p.a.

4.30% p.a.

$0.00

$0


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Fixed Package Home Loan 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 ‡  

3.99% p.a.

4.55% p.a.

$375.00 yearly

$0

3.89% p.a.

4.41% p.a.

$375.00 yearly

$0

Go to site

4.09% p.a.

4.58% p.a.

$375.00 yearly

$0

3.99% p.a.

4.44% p.a.

$375.00 yearly

$0


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Variable Package Home Loan 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 ‡

4.04% p.a.

4.41% p.a.

$375.00 yearly

$0

3.89% p.a.

4.27% p.a.

$375.00 yearly

$0

4.24% p.a.

4.61% p.a.

$375.00 yearly

$0

4.09% p.a.

4.46% p.a.

$375.00 yearly

$0


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Line of Credit 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

5.00% p.a.

n/a

$5.00 monthly

$775

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Greater Bank home loan features in a glance

No monthly service feeNo 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.

Package benefitsPackage 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.  

Weekly, fortnightly or monthly repaymentsWeekly, 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.  

Owner occupier and investor loan optionsOwner 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's home loans rated?

Not sure if Greater Bank is your borrowing match yet? Well the final step to ensuring it's the provider for you is by reading reviews from customers just like you.

Greater Bank home loans

Overall 8.6*

Price

Features

Customer service

Convenience

Trust

62 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Greater Bank home loan reviews Recent Greater Bank home loan reviews

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<85%, over $150K, Owner Occupier) (Package) home loan review

Overall rating   8 / 10

Awesome

The greater have lower fees and I just find them to be a really suitable bank.

Full review

The greater have lower fees and I just find them to be a really suitable bank.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Jennifer (QLD), reviewed 8 months ago

Greater Bank

Greater Bank Discount Great Rate Home Loan (Owner Occupier, LVR<85%, over $150k) home loan review

Overall rating   8 / 10

Fantastic customer service

My favourite feature of Greater Building Society is its staff. They greet me by name and treat me with respect and I get good old fashion service. I do a lot of my business by Internet and really like their website.

Full review

My favourite feature of Greater Building Society is its staff. They greet me by name and treat me with respect and I get good old fashion service. I do a lot of my business by Internet and really like their website.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Cherry (NSW), reviewed 8 months ago

Greater Bank

Greater Bank Discount Great Rate Home Loan (Owner Occupier, LVR<85%, over $150k) home loan review

Overall rating   8 / 10

Excellent customer service.

Greater offers a good interest rate. There are limited numbers of branches compared to the big 4 banks, however staff are extremely helpful and remember me each time I come in. They seem genuinely interested in helping me select good products and...

Full review

Greater offers a good interest rate. There are limited numbers of branches compared to the big 4 banks, however staff are extremely helpful and remember me each time I come in. They seem genuinely interested in helping me select good products and provide all the information I require to make suitable choices.

    Price   8 / 10

    Features   6 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Rebecca (QLD), reviewed 8 months ago

Greater Bank

Greater Bank Discount Great Rate Home Loan (Owner Occupier, LVR<85%, over $150k) home loan review

Overall rating   9 / 10

Fantastic service, always there for their people.

Pros - Flexible with my home loan payments in my times of need. Very understanding and friendly. Workers present well and are very courteous. Cons- Like all banks they are closed on Sunday.

Full review

Pros - Flexible with my home loan payments in my times of need. Very understanding and friendly. Workers present well and are very courteous. Cons- Like all banks they are closed on Sunday.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

David (NSW), reviewed 9 months ago

Greater Bank

Greater Bank home loan review

Overall rating   10 / 10

Brilliant in all respects.

I have just completed/paid out my housing loan. Have had excellent service from The Greater.

Full review

I have just completed/paid out my housing loan. Have had excellent service from The Greater.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Robyn (NSW), reviewed 9 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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