Rates and fees verified as correct at 30 October, 2020. Other information correct at the time of writing. Advertiser disclosure.
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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.39% p.a. | 4.00% p.a. | $0.00 | $350 | ||
| 3.54% p.a. | 4.62% p.a. | $0.00 | $950 | ||
| 2.99% p.a. | 4.19% p.a. | $0.00 | $950 | ||
| 2.39% p.a. | 4.04% p.a. | $0.00 | $950 | ||
| 2.89% p.a. | 4.45% p.a. | $0.00 | $950 | ||
| 2.99% p.a. | 4.19% p.a. | $0.00 | $950 | ||
| 2.79% p.a. | 4.14% p.a. | $0.00 | $950 |
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.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.79% p.a. | 2.82% p.a. | $0.00 | $350 | ||
| 3.03% p.a. | 3.06% p.a. | $0.00 | $350 | ||
| 2.69% p.a. | 2.72% p.a. | $0.00 | $350 | ||
| 3.43% p.a. | 3.46% p.a. | $0.00 | $350 | ||
| 2.93% p.a. | 2.98% p.a. | $0.00 | $650 | ||
| 3.68% p.a. | 3.73% p.a. | $0.00 | $650 | ||
| 2.79% p.a. | 2.84% p.a. | $0.00 | $650 | ||
| 3.28% p.a. | 3.35% p.a. | $0.00 | $950 | ||
| 2.69% p.a. | 2.74% p.a. | $0.00 | $650 | ||
| 4.92% p.a. | 4.99% p.a. | $0.00 | $950 | ||
| 4.52% p.a. | 4.59% p.a. | $0.00 | $950 | ||
| 3.98% p.a. | 4.05% p.a. | $0.00 | $950 | ||
| 3.43% p.a. | 3.50% p.a. | $0.00 | $950 | ||
| 3.44% p.a. | 3.49% p.a. | $0.00 | $650 | ||
| 3.03% p.a. | 3.08% p.a. | $0.00 | $650 | ||
| 4.23% p.a. | 4.30% p.a. | $0.00 | $950 | ||
| 3.69% p.a. | 3.74% p.a. | $0.00 | $650 | ||
| 3.68% p.a. | 3.75% p.a. | $0.00 | $950 | ||
| 2.99% p.a. | 3.04% p.a. | $0.00 | $650 | ||
| 4.92% p.a. | 4.99% p.a. | $0.00 | $950 | ||
| 4.52% p.a. | 4.59% p.a. | $0.00 | $950 |
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.
‡ 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.
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.
On any home loan option from MyState Bank, you can choose between weekly, monthly or fortnightly repayments, to fit your schedule.
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%.
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.
107 Reviews
They are extremely hard to communicate with long wait times and rude customer service. You can't talk directly to anyone from the bank servicing the loan and if it gets declined for any reason, they are ambiguous and will not give you a clear answer. Their wait times are up to 20 days and they are impossible to contact.
Read full reviewThey are extremely hard to communicate with long wait times and rude customer service. You can't talk directly to anyone from the bank servicing the loan and if it gets declined for any reason, they are ambiguous and will not give you a clear answer. Their wait times are up to 20 days and they are impossible to contact.
Certainly not a ‘human’ way to bank. A lack of regard for our needs both when we originally took out our loan and now at pay out. After paying out the loan and taking all requested discharge actions, we are still waiting for our cleared property title 8 weeks later, with at least another 6 week wait ahead of us. This bank has clearly moved too quickly to technological service delivery, without regard to sound business redesign and change management principles and practices. They have dropped the ball on those business processes for which they alone remain fully responsible. Their technological solutions are fragile and insecure, meaning face-to-face branch contact is the only reliable, accountable and safe way of doing business. Repetitive visits are required to track progress to maintain accountability, as bank staff appear not to be required to be proactive and personally responsible to ensure a business process reaches its natural conclusion and to keep customers informed of their progress. A continuing, deeply frustrating and disappointing experience.
Read full reviewCertainly not a ‘human’ way to bank. A lack of regard for our needs both when we originally took out our loan and now at pay out. After paying out the loan and taking all requested discharge actions, we are still waiting for our cleared property title 8 weeks later, with at least another 6 week wait ahead of us. This bank has clearly moved too quickly to technological service delivery, without regard to sound business redesign and change management principles and practices. They have dropped the ball on those business processes for which they alone remain fully responsible. Their technological solutions are fragile and insecure, meaning face-to-face branch contact is the only reliable, accountable and safe way of doing business. Repetitive visits are required to track progress to maintain accountability, as bank staff appear not to be required to be proactive and personally responsible to ensure a business process reaches its natural conclusion and to keep customers informed of their progress. A continuing, deeply frustrating and disappointing experience.
Always had to fight to get a better rate and/or them to reduce their rate after official cuts. Even then, they never passed on full rate. I understand as a minor player in the market they have different pricing, costs etc. but that doesn't help me.
Read full reviewAlways had to fight to get a better rate and/or them to reduce their rate after official cuts. Even then, they never passed on full rate. I understand as a minor player in the market they have different pricing, costs etc. but that doesn't help me.
Communication can be challenging. Electronic systems need updating (ie; app / online calcs etc). Rates are pretty good. Local bank is comforting.
Read full reviewCommunication can be challenging. Electronic systems need updating (ie; app / online calcs etc). Rates are pretty good. Local bank is comforting.
Such a great bank, I have been with them over 5 years. So helpful and friendly. I wouldn't go anywhere else.
Read full reviewSuch a great bank, I have been with them over 5 years. So helpful and friendly. I wouldn't go anywhere else.
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:
