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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest20% min. depositOwner-occupier
Principal & Interest20% min. depositOwner-occupier
Go to site
Product NameUnloan Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.5.90%
Minimum Loan Amount$10,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
5.90%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,998
Go to site
Principal & Interest 3Y Fixed30% min. depositOwner-occupier
Principal & Interest 3Y Fixed30% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.25%
Comp. Rate p.a.6.20%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.25%
Comparison Rate
6.20%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,082
Go to site
Principal & Interest10% min. depositOwner-occupierOffset account
Principal & Interest10% min. depositOwner-occupierOffset account
Go to site
Product NameBendigo Bank Express Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.01%
Comp. Rate p.a.6.14%
Minimum Loan Amount$5,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.01%
Comparison Rate
6.14%
Fees
Application: $0
Ongoing: $10 per month
Monthly Payment
$3,004
Go to siteMore Info
Principal & Interest30% min. depositOwner-occupier
Principal & Interest30% min. depositOwner-occupier
Go to site
Product NameSt.George Basic Variable Rate Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.29%
Comp. Rate p.a.6.30%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.29%
Comparison Rate
6.30%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,095
Go to site
$2,000 cashback
Refinancers borrowing $250,000 or more could get a $2,000 cashback (Other terms, conditions and exclusions apply).
Principal & Interest10% min. depositOwner-occupierOffset account
Principal & Interest10% min. depositOwner-occupierOffset account
Go to site
Product Nameloans.com.au Solar Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.6.51%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,500,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
5.99%
Comparison Rate
6.51%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,998
Go to site
Principal & Interest20% min. depositInvestment
Principal & Interest20% min. depositInvestment
Go to site
Product NameUnloan Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.29%
Comp. Rate p.a.6.20%
Minimum Loan Amount$10,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.29%
Comparison Rate
6.20%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,095
Go to site
Principal & Interest40% min. depositInvestmentOffset account
Principal & Interest40% min. depositInvestmentOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.34%
Comp. Rate p.a.6.59%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.34%
Comparison Rate
6.59%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$3,111
Go to site
Principal & Interest10% min. depositInvestment
Principal & Interest10% min. depositInvestment
Go to site
Product Nameloans.com.au Variable Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.34%
Comp. Rate p.a.6.36%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.34%
Comparison Rate
6.36%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,111
Go to site
Principal & Interest 3Y Fixed30% min. depositInvestment
Principal & Interest 3Y Fixed30% min. depositInvestment
Go to site
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.55%
Comp. Rate p.a.6.42%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.55%
Comparison Rate
6.42%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,180
Go to site
Principal & Interest40% min. depositOwner-occupier
Principal & Interest40% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.16%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,046
Go to site
Principal & Interest10% min. depositOwner-occupier
Principal & Interest10% min. depositOwner-occupier
Go to site
Product Nameloans.com.au Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.06%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.04%
Comparison Rate
6.06%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,014
Go to site
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.35%
Comp. Rate p.a.6.26%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.35%
Comparison Rate
6.26%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,115
Go to site
Principal & Interest20% min. depositOwner-occupier
Principal & Interest20% min. depositOwner-occupier
Go to site
Product NameMacquarie Bank Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.21%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.21%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,063
Go to site
Principal & Interest10% min. depositInvestmentOffset account
Principal & Interest10% min. depositInvestmentOffset account
Go to site
Product Nameloans.com.au Solar Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.58%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,500,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.58%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,063
Go to site
Principal & Interest40% min. depositInvestment
Principal & Interest40% min. depositInvestment
Go to site
Product NameMacquarie Bank Basic Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.34%
Comp. Rate p.a.6.36%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.34%
Comparison Rate
6.36%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,111
Go to site
Principal & Interest40% min. depositOwner-occupierOffset account
Principal & Interest40% min. depositOwner-occupierOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.39%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.39%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$3,046
Go to site
Principal & Interest30% min. depositOwner-occupierOffset account
Principal & Interest30% min. depositOwner-occupierOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.39%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.39%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$3,046
Go to site
Principal & Interest20% min. depositOwner-occupierOffset account
Principal & Interest20% min. depositOwner-occupierOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.19%
Comp. Rate p.a.6.44%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.19%
Comparison Rate
6.44%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$3,063
Go to site
Principal & Interest 3Y Fixed20% min. depositInvestment
Principal & Interest 3Y Fixed20% min. depositInvestment
Go to site
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.65%
Comp. Rate p.a.6.53%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.65%
Comparison Rate
6.53%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,213
Go to site
Principal & Interest20% min. depositInvestmentOffset account
Principal & Interest20% min. depositInvestmentOffset account
Go to site
Product NameMacquarie Bank Offset Home Loan Package
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.45%
Comp. Rate p.a.6.70%
Minimum Loan Amount$150,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Interest Rate
6.45%
Comparison Rate
6.70%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$3,147
Go to site
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Meet our home loan experts

Richard Whitten

Money editor

Richard Whitten is a money editor at Finder. He has been covering home loans, property and personal finance for the last 6 years.
Graham consumer expert

Head of consumer research

Graham Cooke heads up the insights team, overseeing Finder's data-driven research for the last 8 years. He regularly appears as an expert on TV and across other media.
Rebecca Pike senior writer

Senior writer, home loans

Rebecca is a senior writer at Finder covering all things home loans. She has been writing about the home loan market in Australia for 5 years.

What is a home loan?

A home loan is the money you borrow to buy a property. You save a deposit first, which is usually 5-20% of the property's value and then you borrow the rest. This is your loan amount or your loan principal.

Your lender charges you interest based on the loan principal amount and your home loan's interest rate. The higher the home loan interest rate, the higher your repayments will be.

Finder survey: What percentage of Australians have a home loan?

Response
Yes80.67%
No19.33%
Source: Finder survey by Pure Profile of 1112 Australians, December 2023

How do I compare home loan interest rates?

A good home loan comparison starts with a careful look at interest rates. The lower the rate, the lower your repayments will be.

Let's compare 2 otherwise identical home loans with slightly different interest rates.*

Interest rate7.26%5.8%
Loan amount$607,963$607,963
Loan term30 years30 years
Monthly repayment$4,152$3,568
Monthly savingN/A$584
Annual savingN/A$7,008

As you can see, with the lower interest rate, you save $584 a month – or $7,008 a year.

*We're using the average owner-occupier home loan size from the ABS, the average variable rate loan in Finder's database of the full market and the lowest rate variable rate.

Check out Finder's lowest monthly mortgage rate tracker

Home loan comparison is hard if you have no clue what a low rate looks like. That's why we analyse all the loans in our database to find the most competitive rates each month.

The graph below shows the market's lowest* fixed and variable rates for home buyers and investors.

*Rates must have LVRs of 80% or higher and exclude unique or unusual loan products that aren't suitable for most borrowers.

Learn more about finding a cheap home loan

Your interest rate update

On 07 May the official cash rate was held at:

4.35%

The lowest variable owner-occupier rate on the market is:

5.69%

Assuming the average owner occupier home loan size of $607,963 you would be making monthly repayments of:

$3,568

How do I compare mortgage fees and features?

Looking beyond the interest rate, you need to compare home loan fees and features too.

dollar iconCompare the fees

Examples of home loan fees include the following:

  • Application fees. This one-off fee can run as high as $600.
  • Ongoing fees. Some loans come with a monthly or annual fee, usually worth around $120 a year or $10 a month. Package loans have an annual fee of up to $500.
  • Valuation fees. This covers your lender's cost to have your property professionally valued. It can cost several hundred dollars.
  • Discharge fees. A discharge fee is only charged when you end a home loan, either by refinancing or paying off the loan.

Gift card iconConsider the features

The following are the most common and useful home loan features:

  • Offset account. A 100% offset account is a bank account that is attached to your home loan. The bank account lets you save and spend money like a normal bank account, but any dollar saved in the account offsets your loan amount, meaning you are charged less interest. An offset is not available with every loan, such as fixed rate and basic loans.
  • Extra repayments. If your loan allows you to make extra repayments, you can pay it off faster. This will save you in interest charges. These days, most variable rate loans allow extra repayments, although some fixed rate loans don't.
  • Redraw facility. A redraw facility is common on home loans that allow extra repayments. A redraw allows you to withdraw extra repayments from your loan and spend them if you need to. Some lenders charge a redraw fee or restrict how much money you can access.
  • Split facility. Some loans allow you to split your mortgage into both fixed and variable portions. This lets you create a flexible loan that offers the benefits of both a fixed and variable rate.