based on 612 MyState Bank banking product reviews as rated by Mozo community

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 28 October, 2021. 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

2.39% p.a.

3.85% p.a.

$0.00

$350

3.24% p.a.

4.10% p.a.

$0.00

$800

2.39% p.a.

3.88% p.a.

$0.00

$800

2.99% p.a.

4.03% p.a.

$0.00

$800

2.29% p.a.

3.86% p.a.

$0.00

$800

3.09% p.a.

4.06% p.a.

$0.00

$800

2.49% p.a.

3.92% p.a.

$0.00

$800

2.99% p.a.

4.03% p.a.

$0.00

$800

2.39% p.a.

3.88% 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

2.34% p.a.

2.37% p.a.

$0.00

$350

3.03% p.a.

3.06% p.a.

$0.00

$350

3.19% p.a.

3.22% p.a.

$0.00

$350

2.29% p.a.

2.32% p.a.

$0.00

$350

3.23% p.a.

3.26% p.a.

$0.00

$350

2.39% p.a.

2.42% p.a.

$0.00

$350

2.39% p.a.

2.42% p.a.

$0.00

$650

3.48% p.a.

3.54% p.a.

$0.00

$800

3.28% p.a.

3.34% p.a.

$0.00

$800

3.44% p.a.

3.50% p.a.

$0.00

$800

2.39% p.a.

2.45% p.a.

$0.00

$800

2.29% p.a.

2.35% p.a.

$0.00

$800

2.34% p.a.

2.40% p.a.

$0.00

$800

4.72% p.a.

4.79% p.a.

$0.00

$950

4.32% p.a.

4.39% p.a.

$0.00

$950

3.98% p.a.

4.03% p.a.

$0.00

$650

3.43% p.a.

3.48% p.a.

$0.00

$650

2.44% p.a.

2.49% p.a.

$0.00

$650

2.49% p.a.

2.54% p.a.

$0.00

$650

2.84% p.a.

2.89% p.a.

$0.00

$650

2.54% p.a.

2.59% p.a.

$0.00

$650

4.23% p.a.

4.29% p.a.

$0.00

$800

2.84% p.a.

2.90% p.a.

$0.00

$800

3.68% p.a.

3.74% p.a.

$0.00

$800

2.44% p.a.

2.50% p.a.

$0.00

$800

2.49% p.a.

2.55% p.a.

$0.00

$800

2.54% p.a.

2.60% p.a.

$0.00

$800

4.72% p.a.

4.79% p.a.

$0.00

$950

4.32% p.a.

4.39% 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
Overall
Price
Features
Customer service
Convenience
Trust

119 Reviews

Recent MyState Bank home loan reviews

MyState Bank Home Loan
Overall 1/10
Do not recommend

Waited a very long time post a yes on pre approval - to then after supplying lots of extra documents to help support us they still denied us, despite our loan servicing is more then fine. We forgot to disclose a trade support loan of $2700 by a honest mistake as you pay additional $300 per week in next tax barrack to repay any HECS etc and had been paying that for 12 weeks so loan would of been paid back- updated work and filled out new tax deduction form not claiming it got at letter from work as per request from MyState. After waiting and waiting and doing everything they asked, getting letters for them that no bank would of asked for going out of our way as I was so excited to move from Westpac to MyState and give them my more the capable customer loyalty and service… plus also promised timelines to then be declined because of a wee mistake- it’s so not fair and have lost a valued customer. Made a complaint and yet to receive a call back.

Read full review

Waited a very long time post a yes on pre approval - to then after supplying lots of extra documents to help support us they still denied us, despite our loan servicing is more then fine. We forgot to disclose a trade support loan of $2700 by a honest mistake as you pay additional $300 per week in next tax barrack to repay any HECS etc and had been paying that for 12 weeks so loan would of been paid back- updated work and filled out new tax deduction form not claiming it got at letter from work as per request from MyState. After waiting and waiting and doing everything they asked, getting letters for them that no bank would of asked for going out of our way as I was so excited to move from Westpac to MyState and give them my more the capable customer loyalty and service… plus also promised timelines to then be declined because of a wee mistake- it’s so not fair and have lost a valued customer. Made a complaint and yet to receive a call back.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Jacinta, Victoria, reviewed 10 days ago
MyState Bank First Home Loan Deposit Scheme Variable Loan
Overall 1/10
Run now while you can.

Absolutely useless. Had to get finance extended twice while Mystate stuffed around and kept our hopes up for approval but never even reviewed our application before finance time ran out. NEVER EVEN LOOKED AT IT. Appalling customer service. Said they will be looking at it over the weekend, nothing happened. They just couldn't be bothered. Avoid like the plague.

Read full review

Absolutely useless. Had to get finance extended twice while Mystate stuffed around and kept our hopes up for approval but never even reviewed our application before finance time ran out. NEVER EVEN LOOKED AT IT. Appalling customer service. Said they will be looking at it over the weekend, nothing happened. They just couldn't be bothered. Avoid like the plague.

Price
7/10
Customer service
3/10
Convenience
1/10
Trust
1/10
Less
Blair, Queensland, reviewed 2 months ago
MyState Bank Home Loan
Overall 3/10
Passive aggressive staff who enjoy refusing servic

Bad customer service over the phone. Passive aggressive and unhelpful just to prove a point, despite providing all details they asked for to prove my identity, after I couldn’t remember my verbal code. No sense of urgency as it’s two days before my mortgage repayments are due, and all I wanted was for them to set up the repayments so that from this Thursday they are deducted from the new transaction account I just opened with them, and it has more than enough money. Coldly unbothered staffs who seemed to enjoy the fact that I was upset and pleading with them to help but they callously refused, just because they can.

Read full review

Bad customer service over the phone. Passive aggressive and unhelpful just to prove a point, despite providing all details they asked for to prove my identity, after I couldn’t remember my verbal code. No sense of urgency as it’s two days before my mortgage repayments are due, and all I wanted was for them to set up the repayments so that from this Thursday they are deducted from the new transaction account I just opened with them, and it has more than enough money. Coldly unbothered staffs who seemed to enjoy the fact that I was upset and pleading with them to help but they callously refused, just because they can.

Price
5/10
Features
5/10
Customer service
1/10
Convenience
1/10
Trust
2/10
Less
Bahati, Victoria, reviewed 3 months ago
MyState Bank Fixed Rate Loan
Overall 1/10
Stressful, incapable, 0 communication don’t go her

Terrible experience! Went with them for a home loan because of their quick turn around time. It dragged out for over a month with them asking for information that we had sent twice already multiple times. They then told us everything was looking good just needed more info from guarantee so bought the house. Then they tell us on the afternoon of the last day of cooling off period that we are approved for nearly $100,000 less then we applied for! They made the whole experience stressful by not replying via email or phone call.

Read full review

Terrible experience! Went with them for a home loan because of their quick turn around time. It dragged out for over a month with them asking for information that we had sent twice already multiple times. They then told us everything was looking good just needed more info from guarantee so bought the house. Then they tell us on the afternoon of the last day of cooling off period that we are approved for nearly $100,000 less then we applied for! They made the whole experience stressful by not replying via email or phone call.

Price
8/10
Features
7/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
James, New South Wales, reviewed 3 months ago
MyState Bank Standard Variable Home Loan
Overall 10/10
BEST BANK EVER

Wow. This is the first time I've moved to a smaller bank and I will never go back to one of the big 4 banks again. Their customer service is 10/10. They're extremely efficient, helpful and knowledgeable. They've well and truly exceeded my expectations in what i'm looking for in a bank and I would highly recommend them to everyone. Well done MyState. Keep up your good work!

Read full review

Wow. This is the first time I've moved to a smaller bank and I will never go back to one of the big 4 banks again. Their customer service is 10/10. They're extremely efficient, helpful and knowledgeable. They've well and truly exceeded my expectations in what i'm looking for in a bank and I would highly recommend them to everyone. Well done MyState. Keep up your good work!

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Snez, Victoria, reviewed 4 months 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:

  • Photo I.D., such as a driver’s licence or passport
  • Details of your earnings - this includes proof of regular income, like payslips or bank statements
  • Details about your assets - like property, savings or investments
  • Details about your expenses - which includes debts and regular payments you make

Home loan quick links