MyState Bank 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 18 November, 2019. 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 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 ‡ |
|---|---|---|---|---|---|
| 3.49% p.a. | 4.79% p.a. | $0.00 | $950 | ||
| 3.59% p.a. | 4.52% p.a. | $0.00 | $950 | ||
| 3.39% p.a. | 4.47% p.a. | $0.00 | $950 | ||
| 3.79% p.a. | 4.87% p.a. | $0.00 | $950 | ||
| 3.39% p.a. | 4.47% p.a. | $0.00 | $950 | ||
| 4.49% p.a. | 4.76% p.a. | $0.00 | $950 | ||
| 3.19% p.a. | 4.42% 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 ‡ |
|---|---|---|---|---|---|
| 4.38% p.a. | 4.43% p.a. | $0.00 | $650 | ||
| 3.83% p.a. | 3.88% p.a. | $0.00 | $650 | ||
| 3.43% p.a. | 3.46% p.a. | $0.00 | $350 | ||
| 4.19% p.a. | 4.22% p.a. | $0.00 | $350 | ||
| 4.34% p.a. | 4.37% p.a. | $0.00 | $350 | ||
| 3.84% p.a. | 3.89% p.a. | $0.00 | $650 | ||
| 3.43% p.a. | 3.48% p.a. | $0.00 | $650 | ||
| 3.83% p.a. | 3.86% p.a. | $0.00 | $350 | ||
| 3.23% p.a. | 3.26% p.a. | $0.00 | $350 | ||
| 4.48% p.a. | 4.53% p.a. | $0.00 | $650 | ||
| 3.94% p.a. | 3.99% p.a. | $0.00 | $650 | ||
| 3.93% p.a. | 3.98% p.a. | $0.00 | $650 | ||
| 3.53% p.a. | 3.58% p.a. | $0.00 | $650 | ||
| 3.93% p.a. | 3.98% p.a. | $0.00 | $650 | ||
| 3.53% p.a. | 3.60% p.a. | $0.00 | $950 | ||
| 4.29% p.a. | 4.36% p.a. | $0.00 | $950 | ||
| 4.44% p.a. | 4.51% p.a. | $0.00 | $950 | ||
| 3.33% p.a. | 3.38% p.a. | $0.00 | $650 | ||
| 5.17% p.a. | 5.24% p.a. | $0.00 | $950 | ||
| 4.77% p.a. | 4.84% p.a. | $0.00 | $950 | ||
| 5.17% p.a. | 5.24% p.a. | $0.00 | $950 | ||
| 4.77% p.a. | 4.84% 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 Mystate Bank 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 Bank, 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 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%. |
120,000 customers bank with MyState Bank - hear what some of them have to say about their home loan in our customer reviews section.
MyState Bank's service is atrocious. Besides not applying any full or even near rate reductions, I had to fight to get 1 further small reduction after the 2nd official cut. They've refused to do more after the 3rd. They leave it up to customers to...
MyState Bank's service is atrocious. Besides not applying any full or even near rate reductions, I had to fight to get 1 further small reduction after the 2nd official cut. They've refused to do more after the 3rd. They leave it up to customers to contact them to fight for a better deal. On top of this, they have never called back at my preferred time, always when I'm at work or doing something more enjoyable.
Steve, Queensland, reviewed 3 days ago
Overall MyState is a good alternative to the big 4. Our loan manager is very accommodating.
Overall MyState is a good alternative to the big 4. Our loan manager is very accommodating.
Brad, Tasmania, reviewed 11 days ago
Great local bank with a broad range of products and services and they show that they actually care. Always very helpful and exceptionally friendly with great advice.
Great local bank with a broad range of products and services and they show that they actually care. Always very helpful and exceptionally friendly with great advice.
Cheyne, Tasmania, reviewed about 1 month ago
I think taking out a home loan with MyState was a bad choice. The rates are very expensive. I will wait for another 2.5 years after my fixed rate is over so I can move out to a better provider
I think taking out a home loan with MyState was a bad choice. The rates are very expensive. I will wait for another 2.5 years after my fixed rate is over so I can move out to a better provider
Parveen, Victoria, reviewed about 2 months ago
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 4 years ago
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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:
