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Greater Bank Great Rate Home Loan

Advertiser disclosure
The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 80%
The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $40,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a interest only loan of at least $40,000 with an LVR below 90%
The details shown below are for an investor taking out a principal & interest loan of at least $40,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan of at least $40,000 with an LVR below 90%

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% $150,000
Owner Occupier Interest Only < 80% $150,000
Investor Principal & Interest < 80% $150,000
Investor Interest Only < 80% $150,000
Owner Occupier Principal & Interest < 90% $40,000
Owner Occupier Interest Only < 90% $40,000
Investor Principal & Interest < 90% $40,000
Investor Interest Only < 90% $40,000
  • Owner Occupier (Principal & Interest)
    LVR < 80%
    Loan: $150,000
  • Owner Occupier (Interest Only)
    LVR < 80%
    Loan: $150,000
  • Investor (Principal & Interest)
    LVR < 80%
    Loan: $150,000
  • Investor (Interest Only)
    LVR < 80%
    Loan: $150,000
  • Owner Occupier (Principal & Interest)
    LVR < 90%
    Loan: $40,000
  • Owner Occupier (Interest Only)
    LVR < 90%
    Loan: $40,000
  • Investor (Principal & Interest)
    LVR < 90%
    Loan: $40,000
  • Investor (Interest Only)
    LVR < 90%
    Loan: $40,000
Rate
6.09% p.a.
Comparison Rate
6.11% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
6.19% p.a.
Comparison Rate
6.21% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
6.24% p.a.
Comparison Rate
6.26% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
6.34% p.a.
Comparison Rate
6.36% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
7.86% p.a.
Comparison Rate
7.88% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
7.96% p.a.
Comparison Rate
7.98% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
8.24% p.a.
Comparison Rate
8.26% p.a.
Service fee
$0.00
Upfront fee
$180
Rate
8.34% p.a.
Comparison Rate
8.36% p.a.
Service fee
$0.00
Upfront fee
$180

Mozo editorial review Greater Bank Great Rate Home Loan - last updated: 22 May 2024

binocular icon
What's hot
  • Variable rates from 6.09% p.a. (6.10% p.a. comparison rate*)
  • No upfront or ongoing fees
  • Free redraw facility
  • $2,000-$3,000 cashback offer (T&Cs apply)
What's not
  • $180 settlement and $300 discharge fees
Mozo snapshot

Greater Bank’s Great Rate Home Loan delivers oodles of value for homeowners looking for a low-maintenance mortgage thanks to the relatively small number of fees and the competitive variable rate on the one hand, and handy features like extra repayments and redraws on the other. This loan also comes with a $2,000 cashback offer for loans more than/or equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than/or equal to $500,000 with LVR <80% (applications must be submitted by 31/05/2024 and funded by 31/08/2024).

key icon
Key features

If you’re after a competitively priced variable home loan with close to no fees and a few useful features, you may have found a winner in Greater Bank's Great Rate Home Loan. 

Owner occupiers can take advantage of competitive variable rates from 6.09% p.a. (6.10% p.a. comparison rate*) on loan amounts of $150,000 or more, as can investors with rates starting from 6.19% p.a. (6.31% p.a. comparison rate*). There are also different rates available for both types of borrowers depending on the size of the loan, the loan-to-value ratio (LVR) and the type of repayments being made (principal and interest or interest-only). 

While you won’t have the option of opening an offset account with Great Rate Home Loan, you will be able to make fee-free additional repayments and withdraw those extra repayments down the line via the redraw facility. Finally, Aussies looking to hedge their bets against a rate rise can choose to split their home loan between the variable rates on offer with the Great Rate Home Loan, and one of the eligible Greater Bank fixed rates.

The Great Rate Home Loan is also pretty light on fees. There's a $180 settlement fee, $300 discharge fee and legal fees are charged at cost, but there are no application or ongoing service fees to worry about.

This loan also comes with a $2,000 cashback offer for loans more than/or equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than/or equal to $500,000 with LVR <80% (applications must be submitted by 31/05/2024 and funded by 31/08/2024).

snapshot
Who is it good for

Homeowners on the hunt for a low-cost home loan could benefit from Greater Bank's Great Rate Home Loan with its competitive variable interest rate and relatively low fees.

question icon
Any catches

For some borrowers an offset account is a must, so if that's a feature you just can't do without then Greater Bank's Ultimate Home Loan (Package) or another offset home loan may be a better option. This loan is only for applications for properties located in NSW, QLD or ACT.

Details

Rates and fees information correct as at 25 May 2024. 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

6.09% p.a.

n/a

n/a

n/a

6.11% 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

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

6.19% p.a.

n/a

n/a

n/a

6.21% 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

80.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

6.24% p.a.

n/a

n/a

n/a

6.26% 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

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

6.34% p.a.

n/a

n/a

n/a

6.36% 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

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

7.86% p.a.

n/a

n/a

n/a

7.88% 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

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

7.96% p.a.

n/a

n/a

n/a

7.98% 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

90.00%

Features

Owner Occupier

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

8.24% p.a.

n/a

n/a

n/a

8.26% 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

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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 25 May 2024. 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

8.34% p.a.

n/a

n/a

n/a

8.36% 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

90.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$0.00

yes

no

Legal fees charged at cost.

none

$2,000 cashback for loans more than of equal to $250,000 with LVR <80%, or $3,000 cashback for loans more than or equal to $500,000 with LVR <80%. Applications must be submitted by 31/05/2024 and funded by 31/08/2024.

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
8.7/10
Price
8.3/10
Features
7.9/10
Customer service
8.8/10
Convenience
8.8/10
Trust
8.7/10
Based on 232 Greater Bank home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of Greater Bank Great Rate Home Loan

About Greater Bank

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Unloan

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5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

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Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

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ING

Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

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Unloan

Variable

5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

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ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

$0.00

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Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

$0.00

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

$0.00

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G&C Mutual Bank

First Home Buyer Loan

5.90% p.a.

5.93% p.a.

$0.00

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Community First Bank

Basic Variable Home Loan

5.94% p.a.

5.99% p.a.

$0.00

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Unity Bank

First Home Buyer Advantage Plus Home Loan

5.99% p.a.

6.76% p.a.

$0.00

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Bendigo Bank

Express Home Loan

6.01% p.a.

6.14% p.a.

$10.00 monthly

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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