MyState has been around for 50 years, and takes pride in having strong roots in the Tasmanian community, where its headquarters are based. From fixed to variable, check out its home loan offerings below...
Rates and fees verified as correct at 19 September, 2018. Other information correct at the time of writing.
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. 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.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.49% p.a. | 5.45% p.a. | $0.00 | $950 | ||
| 4.29% p.a. | 5.11% p.a. | $0.00 | $950 | ||
| 4.04% p.a. | 5.33% p.a. | $0.00 | $950 | ||
| 3.84% p.a. | 4.99% p.a. | $0.00 | $950 | ||
| 4.59% p.a. | 5.19% p.a. | $0.00 | $950 | ||
| 3.84% p.a. | 4.99% p.a. | $0.00 | $950 |
If you’d like a little more flexibility, check out MyState’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.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.38% p.a. | 4.43% p.a. | $0.00 | $650 | ||
| 4.08% p.a. | 4.13% p.a. | $0.00 | $650 | ||
| 4.28% p.a. | 4.31% p.a. | $0.00 | $350 | ||
| 3.88% p.a. | 3.91% p.a. | $0.00 | $350 | ||
| 3.88% p.a. | 3.91% p.a. | $0.00 | $350 | ||
| 4.39% p.a. | 4.42% p.a. | $0.00 | $350 | ||
| 4.58% p.a. | 4.63% p.a. | $0.00 | $650 | ||
| 4.28% p.a. | 4.33% p.a. | $0.00 | $650 | ||
| 4.48% p.a. | 4.53% p.a. | $0.00 | $650 | ||
| 4.08% p.a. | 4.15% p.a. | $0.00 | $950 | ||
| 4.59% p.a. | 4.66% p.a. | $0.00 | $950 | ||
| 4.08% p.a. | 4.13% p.a. | $0.00 | $650 | ||
| 5.72% p.a. | 5.79% p.a. | $0.00 | $950 | ||
| 5.32% p.a. | 5.39% p.a. | $0.00 | $950 | ||
| 5.72% p.a. | 5.79% p.a. | $0.00 | $950 | ||
| 5.32% p.a. | 5.39% p.a. | $0.00 | $950 |
‡ 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.
| Extra repayments featureExtra repayments feature | You can make unlimited additional repayments on a variable rate Mystar home loan, but keep in mind that for the fixed rate offer, these extra repayments are capped at $10,000. |
| Flexible repayment scheduleFlexible repayment schedule | On any home loan option from MyState, you can choose between weekly, monthly or fortnightly repayments, to fit your schedule. |
| Low depositLow deposit | Having trouble saving up a deposit for your mortgage? No problem. MyState 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%. |
120,000 customers bank with MyState - hear what some of them have to say about their home loan in our customer review section.
Staff at MyState are wonderful. They go beyond the call of duty and treat you like their own family. I can't speak more highly of them.
Staff at MyState are wonderful. They go beyond the call of duty and treat you like their own family. I can't speak more highly of them.
Paul, Tasmania, reviewed almost 3 years ago
Can't fault the service. Highly recommended.
Can't fault the service. Highly recommended.
Paul, Tasmania, reviewed almost 3 years ago
There are no branches in Victoria which makes it tricky. But online and on the phone service is brilliant. Excellent rates.
There are no branches in Victoria which makes it tricky. But online and on the phone service is brilliant. Excellent rates.
Amy, Victoria, reviewed almost 3 years ago
Worst bank I have ever dealt with... The most unprofessional unorganised business I have ever come across...Can't wait to go back to the Commonwealth.
Worst bank I have ever dealt with... The most unprofessional unorganised business I have ever come across...Can't wait to go back to the Commonwealth.
Luke, Victoria, reviewed about 3 years ago
Attracted by the low rate and redraw facilities, it took 3 months of chasing, asking and clarifying where our refinance loan was at. Extremely poor service response - the worse we have experienced. We felt we were servicing MyState, not the other...
Attracted by the low rate and redraw facilities, it took 3 months of chasing, asking and clarifying where our refinance loan was at. Extremely poor service response - the worse we have experienced. We felt we were servicing MyState, not the other way around. And at the end of it all, they failed to set up the requested repayment arrangements, resulting in a loan arrears situation that threatened our credit rating. Indeed, the customer complaints section asked us to complete the same forms again, despite them already being lodged 6 weeks earlier and an undertaking given that they would be actioned according to our requirements. Online access to monitor your loan, arrange redraws and additional payments is not provided as a matter of course and requires a separate process. The final blow is that we are required to open a Mystate bank account to access their redraw facility, as they don't allow redraw transfers into accounts of other banks. Even then, you cannot do it online, are required to attend a branch or make a phone call and a $30 fee is payable per redraw minimum of $500. This is different to other major providers who offer these facilities as a matter of course. If it is simply a low rate you want, go for it. If you also value customer service, responsiveness, transparency, 24/7 access to self-service and flexibility, use other providers.
Chris, Tasmania, reviewed about 3 years ago
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If you’ve decided a MyState 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:
