Greater Bank Ultimate Home Loan (Package)

3.74% p.a.

4.13% p.a.

$375.00 yearly

4.16% p.a.

4.54% p.a.

$375.00 yearly

4.44% p.a.

4.81% p.a.

$375.00 yearly

4.84% p.a.

5.20% p.a.

$375.00 yearly

Greater Bank Ultimate Home Loan (Package) Review

Rates and fees information correct as at 19 October 2017.

Review published: 24 May 2016

What's hot:

  • Variable rates starting at just 3.74%

  • No upfront fees

  • Insurance discounts and fee-free transaction account and credit card

  • Mozo Experts Choice Awards Winner 2017

What's not:

  • $375 yearly service fee

Mozo snapshot:

If you’re in the market for a flexible, low rate home loan package, look no further than the Greater Bank Ultimate Home Loan variable rate package. Not only is this home loan a cost-effective option, packed full of money-saving features like fee-free extra repayments, a redraw facility and 100% offset account, but you’ll also save with discounts on your Greater Bank insurance policies, and no annual fees on your everyday bank account and credit card. 

You might also be happy to hear that Greater Bank was a multiple award winner in the 2017 Mozo Experts Choice Awards.

Key features:

Depending on how much you want to borrow, and how much you’ve saved for a deposit, there are two different variable rate Greater Bank home loan packages to choose from.

Borrowers after amounts higher than $150,000 and up to 90% of the property’s value can opt for the variable rate Discount Ultimate Home Loan, which for owner occupiers, comes with the low interest rate of 3.74%.

For homebuyers wanting to borrow up to 95% of the property’s value, starting from $40,000, the Ultimate Home Loan is a perfect fit. Borrowers planning to live in the home can snag a 4.16% interest rate, while investors will pay a slightly higher rate of 4.44%.

To pay your home loan off faster, you’ll also have use of a range of flexible features on your variable rate Ultimate Home Loan, including unlimited, fee-free extra repayments, free redraws, and a 100% offset account.

Plus, it wouldn’t be a home loan package without some killer bundling perks. When you take out a Greater Bank Ultimate Home Loan, you’ll also use your Greater Bank credit card without paying an annual fee, and park all the money you save using the flexible features in a fee-free everyday bank account. You can also cash in on discounts on your Greater Bank insurance policies and a free initial financial planning consultation.

To tailor your loan to your budget and schedule, choose monthly, fortnightly or weekly repayments, plus, choose between a principal and interest, or interest only loan.

Who it's good for:

Offering a bunch of package perks and a suite of money-saving features, the variable rate Ultimate Home Loan is a match for borrowers after a flexible, low rate home loan solution.

Any catches?

The low rates and 90% LVR on the Discount Ultimate Home Loan only apply to new loans - so if you’re refinancing, check out the great money-saving options available to you here.

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

Product Type Overall Rating Price Features Service Convenience Trust
8.6

Based on 62
Greater Bank home loans reviews

8.5 7.8 9.2 9.1 8.8

Read Greater Bank home loan reviews by the Mozo community

Latest reviews of Greater Bank Ultimate Home Loan (Package)

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<90%, 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 over 1 year ago

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<90%, over $150K, Owner Occupier) (Package) home loan review

Overall rating   10 / 10

Great customer service

Good friendly service, just like the old days.

Full review

Good friendly service, just like the old days.

    Price   10 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

David (NSW), reviewed almost 2 years ago

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.

Currently showing

Rates

  • 3.74% p.a.

  • n/a

  • 0 Months

  • none

  • 4.13% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • yes

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • 4.16% p.a.

  • n/a

  • 0 Months

  • none

  • 4.54% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • yes

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • 4.44% p.a.

  • n/a

  • 0 Months

  • none

  • 4.81% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $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

  • yes

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • 4.84% p.a.

  • n/a

  • 0 Months

  • none

  • 5.20% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 70.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes

  • $0.00

  • yes

  • yes

  • none

  • Fee free credit card and transaction account, insurance discounts.

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.

*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.

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