Greater Bank Great Rate Home Loan

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 85%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $40,000 with an LVR below 95%

The details shown below are for an owner occupier taking out a interest only loan of at least $40,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan of at least $40,000 with an LVR below 95%

The details shown below are for an investor taking out a interest only loan of at least $40,000 with an LVR below 85%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $150,000

  • Owner Occupier (Interest Only)

    LVR < 90%

    Loan: $150,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $150,000

  • Investor (Interest Only)

    LVR < 85%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR < 95%

    Loan: $40,000

  • Owner Occupier (Interest Only)

    LVR < 95%

    Loan: $40,000

  • Investor (Principal & Interest)

    LVR < 95%

    Loan: $40,000

  • Investor (Interest Only)

    LVR < 85%

    Loan: $40,000

3.11% p.a.

3.12% p.a.

$0.00

Greater Bank Great Rate Home Loan

3.11% p.a.

3.12% p.a.

$0.00

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3.21% p.a.

3.23% p.a.

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Greater Bank Great Rate Home Loan

3.21% p.a.

3.23% p.a.

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3.44% p.a.

3.46% p.a.

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Greater Bank Great Rate Home Loan

3.44% p.a.

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3.56% p.a.

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3.91% p.a.

3.93% p.a.

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Greater Bank Great Rate Home Loan

3.91% p.a.

3.93% p.a.

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4.01% p.a.

4.03% p.a.

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Greater Bank Great Rate Home Loan

4.01% p.a.

4.03% p.a.

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4.29% p.a.

4.31% p.a.

$0.00

Greater Bank Great Rate Home Loan

4.29% p.a.

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4.39% p.a.

4.41% p.a.

$0.00

Greater Bank Great Rate Home Loan

4.39% p.a.

4.41% p.a.

$0.00

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Mozo Review
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Mozo Review   Greater Bank Great Rate Home Loan Review

Last updated: 11 February 2020.

What's hot:

  • 2019 Home Lender Bank of the Year

  • Variable rates from 3.11% (3.12% comparison rate*)

  • No upfront or ongoing fees

  • Free redraw facility

What's not:

  • $300 discharge fee

  • No offset account available

Mozo snapshot:

2019 Home Lender Bank of the Year Greater Bank’s Great Rate Home Loan delivers oodles of value for homeowners looking for a low-maintenance mortgage thanks to no application or ongoing fees throughout the life of the loan. You will also have the peace of mind of knowing you’re dealing with one of the market’s best variable rate home loans given it was judged a 2019 Mozo Experts Choice Award winner in both the Split Home Loan and First Home Buyer Loan categories.

Key features:

If you’re after a competitively priced variable home loan, stacked with options and close to no fees, you may have found a winner in the Greater Bank Great Rate Home Loan - after all, the Mozo Experts did. Owner occupiers can take advantage of competitive variable rates from 3.11% (3.12% comparison rate*) on loan amounts of $150,000 or more.

An award-winner in the First Home Buyer Loan category, the 90% LVR means you don’t have to have a huge stack of cash saved up for a house deposit, but keep in mind that if you don’t have 20% stashed away, you’ll have to stump up for lenders mortgage insurance.

The Great Rate Home Loan also ditches upfront and ongoing annual fees so that you can put all of your precious pennies towards making repayments. Speaking of which, you’ll have the flexibility to choose whether you’re paying your loan on a weekly, fortnightly or monthly basis as well as if you want to make principal and interest or interest only repayments.

While you won’t have the option of opening an offset account aside the Great Rate Home Loan, you will be able to make fee-free additional repayments and be able to redraw against them at any time using Greater Bank’s online service and the great news is there is no minimum amount. Finally, Aussies looking to hedge their bets against a rate rise can choose to split their home loan between the variable rates on offer from the Great Rate Home Loan and another of Greater Bank’s fixed rate products.

Who it's good for:

Aussies homeowners who want a no-frills home loan with a competitive variable interest rate could benefit from the Greater Bank Great Rate Home Loan. After being awarded a coveted Mozo Experts Choice Award in 2018 as a market-leading First Home Buyer Loan, it is certainly one to look out for if you’re trying to get your foot in the door of your first home.

Any catches?

Just bear in mind that once you’re done paying off the loan you’ll have a $300 discharge fee to pay.

Details

Rates and fees information correct as at 23 February 2020. 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

  • 3.11% p.a.

  • n/a

  • n/a

  • n/a

  • 3.12% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 3.21% p.a.

  • n/a

  • n/a

  • n/a

  • 3.23% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 90.00%

Features

  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 3.44% p.a.

  • n/a

  • n/a

  • n/a

  • 3.46% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 90.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 3.54% p.a.

  • n/a

  • n/a

  • n/a

  • 3.56% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 85.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 3.91% p.a.

  • n/a

  • n/a

  • n/a

  • 3.93% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 4.01% p.a.

  • n/a

  • n/a

  • n/a

  • 4.03% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 4.29% p.a.

  • n/a

  • n/a

  • n/a

  • 4.31% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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 23 February 2020. 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

  • 4.39% p.a.

  • n/a

  • n/a

  • n/a

  • 4.41% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • n/a

  • $0.00

  • $180.00

  • n/a

  • $0.00

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 85.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • no

  • Legal fees charged at cost.

  • 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.

Customer Reviews

How are Greater Bank home loans rated by the Mozo community?

Overall customer rating
8.7/10

Based on 217 Greater Bank home loan reviews

Price
8.3/10
Features
7.9/10
Customer service
8.8/10
Convenience
8.8/10
Trust
8.7/10

Latest reviews of Greater Bank Great Rate Home Loan

  • Overall 10/10
    Great services.

    Easy to deal with. They do all the foot work for you.

    Read full review

    Easy to deal with. They do all the foot work for you.

    Price
    10/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Anthony, New South Wales reviewed 3 months ago
  • Overall 10/10
    Fantastic service

    Great bank!!!

    Read full review

    Great bank!!!

    Price
    10/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -
    Less
    Ian, New South Wales reviewed over 2 years ago
  • Overall 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.

    Read 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, New South Wales reviewed almost 4 years ago
  • Overall 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 provide all the information I require to make suitable choices.

    Read 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, Queensland reviewed almost 4 years ago
  • Overall 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.

    Read 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, New South Wales reviewed almost 4 years ago
Greater Bank

About Greater Bank

Greater Bank offers a range of personal and business banking products around a quarter of a million customers in NSW and Queensland. Its products include savings and investment accounts, home loans, personal loans, credit cards, business banking, financial planning, travel money and insurance. Greater Bank is owned by its customers, not shareholders, and has a focus on providing great rates, low fees and superior service.

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3.03% p.a.

3.09% p.a.

$0.00

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Homestar

Homestar

Star Essentials Home Loan

2.74% p.a.

2.77% p.a.

$0.00

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*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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