7.3/10

Based on 644 MyState Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

MyState Bank home loans

MyState Bank is a Tasmania-based Bank formed after Tasmania Perpetual Trustees and MyState Financial merged in 2009. It’s since carved out a reputation as a community-minded bank, with a number of projects aimed at supporting local not-for-profit organisations. Below, we run through its range of variable and fixed home loan offers.

What home loans do MyState Bank offer?

Rates and fees verified as correct at 26 May 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If you’re looking to borrow between $30,000 and $3,000,000, you can opt for an award winning fixed rate home loan from MyState Bank. Available for up to 95% of the property’s value, you have the option to split your loan between fixed and variable rates, and to choose between weekly, fortnightly or monthly repayments. You can also make up to $10,000 in fee-free additional repayments during the fixed rate period. Keep in mind, application and settlement fees apply.

Home loan repayments calculator

years

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

7.04% p.a.

8.03% p.a.

$0.00

$800

6.24% p.a.

7.80% p.a.

$0.00

$800

6.44% p.a.

7.85% p.a.

$0.00

$800

6.19% p.a.

7.78% p.a.

$0.00

$800

6.89% p.a.

7.99% p.a.

$0.00

$800

6.69% p.a.

7.93% p.a.

$0.00

$800

6.69% p.a.

7.93% p.a.

$0.00

$800

6.49% p.a.

7.87% p.a.

$0.00

$800

Variable Rate Home Loans

If you’d like a little more flexibility, check out MyState Bank’s variable rate home loan, available for $100,000 to $3,000,000, and up to 95% of the property’s value. You’ll have access to a host of flexible features with this mortgage, including the use of an offset account, unlimited fee-free extra repayments, and the opportunity to redraw those extra funds if needed, although fees and a minimum amount apply to the latter.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

6.09% p.a.

6.12% p.a.

$0.00

$350

6.48% p.a.

6.51% p.a.

$0.00

$350

7.14% p.a.

7.17% p.a.

$0.00

$350

6.09% p.a.

6.12% p.a.

$0.00

$350

7.28% p.a.

7.31% p.a.

$0.00

$350

6.14% p.a.

6.17% p.a.

$0.00

$350

7.53% p.a.

7.60% p.a.

$0.00

$800

6.73% p.a.

6.79% p.a.

$0.00

$800

7.39% p.a.

7.46% p.a.

$0.00

$800

6.24% p.a.

6.30% p.a.

$0.00

$800

6.19% p.a.

6.25% p.a.

$0.00

$800

6.19% p.a.

6.25% p.a.

$0.00

$800

8.77% p.a.

8.85% p.a.

$0.00

$950

8.37% p.a.

8.45% p.a.

$0.00

$950

6.94% p.a.

6.99% p.a.

$0.00

$650

6.84% p.a.

6.89% p.a.

$0.00

$650

7.39% p.a.

7.44% p.a.

$0.00

$650

6.34% p.a.

6.39% p.a.

$0.00

$650

6.59% p.a.

6.64% p.a.

$0.00

$650

6.34% p.a.

6.39% p.a.

$0.00

$650

6.64% p.a.

6.69% p.a.

$0.00

$650

6.39% p.a.

6.44% p.a.

$0.00

$650

6.94% p.a.

7.00% p.a.

$0.00

$800

6.64% p.a.

6.70% p.a.

$0.00

$800

6.84% p.a.

6.90% p.a.

$0.00

$800

6.34% p.a.

6.40% p.a.

$0.00

$800

6.34% p.a.

6.40% p.a.

$0.00

$800

6.39% p.a.

6.45% p.a.

$0.00

$800

8.77% p.a.

8.85% p.a.

$0.00

$950

8.37% p.a.

8.45% p.a.

$0.00

$950

MyState Bank home loan features in a glance

Repayment Icon

Extra repayments feature

You can make unlimited additional repayments on a variable rate Mystate Bank home loan, but keep in mind that for the fixed rate offer, these extra repayments are capped at $10,000.

Schedule icon

Flexible repayment schedule

On any home loan option from MyState Bank, you can choose between weekly, monthly or fortnightly repayments, to fit your schedule.

Deposit icon

Low deposit

Having trouble saving up a deposit for your mortgage? No problem. MyState Bank home loans can be secured with as little as a 5% deposit - but keep in mind that, as with most home loans, you’ll need to pay for Lender’s Mortgage Insurance if your LVR is above 80%.

How are MyState Bank home loans rated?

Mozo users have rated MyState Bank home loans 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
MyState Bank home loans customer reviews
Overall
6.9/10
Price
6.9/10
Features
6.2/10
Customer service
7.1/10
Convenience
7.0/10
Trust
7.0/10
Based on 126 MyState Bank product 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.

Recent MyState Bank home loan reviews

MyState Bank Basic Variable
Overall 6/10
Good local bank.

This bank is conveniently located and has ATM points around the state. It is user friendly in terms of online banking. However, it does need to offer greater rewards for savings.

Read full review

This bank is conveniently located and has ATM points around the state. It is user friendly in terms of online banking. However, it does need to offer greater rewards for savings.

Price
8/10
Features
1/10
Customer service
5/10
Convenience
10/10
Trust
5/10
Less
Jacqueline, Tasmania, reviewed about 2 months ago
MyState Bank Basic Variable
Overall 9/10
Top suppliers

This Bank provided us a loan when many wouldn't plus the follow up was great and the people who are employed seem very knowledgeable

Read full review

This Bank provided us a loan when many wouldn't plus the follow up was great and the people who are employed seem very knowledgeable

Price
9/10
Features
9/10
Customer service
9/10
Convenience
4/10
Trust
9/10
Less
Jean, Queensland, reviewed 8 months ago
MyState Bank Special Residential Home Loan
Overall 7/10
Excellent rates and customer service but bad app

MyState have excellent rates and excellent customer service, as well as a super low monthly fee for loans with their offset feature. However, the online banking app leaves a lot to be desired! Overall it is worth the trade off to save $$

Read full review

MyState have excellent rates and excellent customer service, as well as a super low monthly fee for loans with their offset feature. However, the online banking app leaves a lot to be desired! Overall it is worth the trade off to save $$

Price
9/10
Features
5/10
Customer service
9/10
Convenience
2/10
Trust
8/10
Less
Charlotte, South Australia, reviewed 11 months ago
MyState Bank Standard Variable Home Loan
Overall 8/10
A top bank but could use a branch in this state.

Without this bank we would not have a home So yes we like the bank and are easy to talk to. they also reach out to us all the time

Read full review

Without this bank we would not have a home So yes we like the bank and are easy to talk to. they also reach out to us all the time

Price
8/10
Features
8/10
Customer service
9/10
Convenience
3/10
Trust
8/10
Less
Jean, Queensland, reviewed 11 months ago
MyState Bank Home Guarantee Scheme Variable Loan
Overall 1/10
Dodgy drip feeding of impossible loan conditions

I got rapid pre-approval after applying for a loan to buy land and build, and receiving assurances from MyState I had 12 months to build. So I went ahead and put an offer on a block of land in, only to be told a week before the cooling off deadline some 6 weeks later, that I needed a building contract or the loan wasn't going to happen! So I had to go ahead and just purchase the land, thereby forgoing my ability to access the First Home Guarantee, and that meant I have to conveniently pay MyState $15k in LMI. Then they tell me 3 days before the deadline that I have to come up with 10% deposit, not 5% because I'm buying in a regional area which they don't like. Then they say even though I'm paying for their valuation, which came back as $15k higher than I'm paying the vendor, they're not going to take it into account. Why? They don't feel like it. A dodgier pack of discriminating drip feeding pen-pushers I have never met. They've had the application for 50+ days and counting. All for someone with zero debts.

Read full review

I got rapid pre-approval after applying for a loan to buy land and build, and receiving assurances from MyState I had 12 months to build. So I went ahead and put an offer on a block of land in, only to be told a week before the cooling off deadline some 6 weeks later, that I needed a building contract or the loan wasn't going to happen! So I had to go ahead and just purchase the land, thereby forgoing my ability to access the First Home Guarantee, and that meant I have to conveniently pay MyState $15k in LMI. Then they tell me 3 days before the deadline that I have to come up with 10% deposit, not 5% because I'm buying in a regional area which they don't like. Then they say even though I'm paying for their valuation, which came back as $15k higher than I'm paying the vendor, they're not going to take it into account. Why? They don't feel like it. A dodgier pack of discriminating drip feeding pen-pushers I have never met. They've had the application for 50+ days and counting. All for someone with zero debts.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Carole, Victoria, reviewed over 2 years ago

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

If you’ve decided a MyState Bank home loan is the one for you, then the next step is applying. Here are a few things you’ll need to have with you when you do:

Home loan quick links