Big Four banks home loans

Big four bank home loan rate comparison

Rates and fees last updated on

Change the way you approach the big four banks through comparison.

The big four banks in Australia, the Commonwealth Bank, Westpac, ANZ and NAB play a key role in the Australian economy and have the financial stability to keep your home loan safe. They are well managed, regulated and hold nearly 85% of the home loan market share between them.

Below are the most up-to-date standard variable rates for the big four. If you scroll down further you can see more of the rates on offer from the big four and also other competitive rates offered by other lenders.

Big four standard variable rates comparison

LoanInterest rate (p.a.)Comparison rate (p.a.)
ANZ Standard Variable Home Loan5.2% p.a.5.3% p.a.
CBA Standard Variable Home Loan (Owner Occupier P&I)5.22% p.a.5.36% p.a.
NAB Tailored Home Loan Variable Rate (Owner Occupier P&I)5.24% p.a.5.37% p.a.
Westpac Rocket Repay Home Loan - Principal and Interest5.24% p.a.5.38% p.a.

Compare home loans from the big four banks and others to find the right deal for you

Rates last updated November 25th, 2017
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.88%
4.89%
$0
$395 p.a.
95%
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
4.03%
5.04%
$600
$10 monthly ($120 p.a.)
95%
Get a 2-year fixed rate with flexible repayment options to help you save.
3.99%
4.99%
$0
$395 p.a.
95%
A package home loan with fee free extra repayments available during the fixed term.
4.44%
5.55%
$600
$8 monthly ($96 p.a.)
95%
4.52%
4.52%
$0
$0 p.a.
95%
A home loan with no establishment fees or monthly fees.
3.88%
4.88%
$0
$395 p.a.
95%
Lock in a discounted fixed rate with a low service fee.
4.55%
4.59%
$0
$0 p.a.
95%
Make extra repayments and then access them through the fee free redraw facility.
4.08%
5.16%
$600
$8 monthly ($96 p.a.)
95%
Get the stability of a 2-year fixed rate with the flexibility of great features.
5.20%
5.30%
$600
$5 monthly ($60 p.a.)
90%
Make additional repayments and use your 100% offset to pay off your loan sooner.
$600
$8 monthly ($96 p.a.)
95%
An option to link a 100% offset account to save on interest.
3.99%
4.93%
$0
$395 p.a.
95%
Lock in a discounted rate for 3 years and have the option for interest only repayments.
4.39%
4.78%
$0
$395 p.a.
95%
Package your home loan to get discounts on your interest rate and other financial products.
4.19%
5.27%
$600
$8 monthly ($96 p.a.)
95%
Fix in a rate for one year and enjoy a range of features such as interest only repayments.
6.42%
$600
$10 monthly ($120 p.a.)
95%
Tap into your equity with a line of credit home loan from Westpac.
4.64%
5.02%
$0
$395 p.a.
95%
Package Westpac's standard variable home loan with all the additional features available with the Premier Advantage Package.
4.17%
4.21%
$600
$0 p.a.
95%
A competitive no frills home loan. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.29%
4.78%
$600
$8 monthly ($96 p.a.)
95%
Option to make extra repayments and redraw with no fees.
3.99%
4.90%
$0
$395 p.a.
95%
Pay no application fee and fix your interest for 3 years with this ANZ package home loan.
4.14%
4.98%
$600
$10 monthly ($120 p.a.)
95%
A fixed rate loan that has the option to make additional repayments up to 5% of the loan.
4.14%
5.07%
$600
$8 monthly ($96 p.a.)
95%
Lock in a competitive fixed rate for 3 years with one of the big 4 banks.
4.50%
4.90%
$0
$395 p.a.
95%
No application fee and discounts on other ANZ banking products.
5.24%
5.37%
$600
$8 monthly ($96 p.a.)
95%
Tailor your home loan to suit your needs and pay a competitive rate.
4.60%
4.99%
$0
$395 p.a.
95%
With a 100% offset account and a discounted interest rate package your loan with ANZ.

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Rates last updated November 25th, 2017
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.65%
3.66%
$0
$0 p.a.
90%
Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.
3.64%
3.66%
$0
$0 p.a.
80%
A basic home loan with a competitive rate and low fees.
3.69%
4.86%
$0
$395 p.a.
90%
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.49%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.54%
3.56%
$0
$0 p.a.
80%
This loan is for refinancers only. A basic but flexible low-rate loan for refinancers looking to save on repayments.

3.58%
3.59%
$0
$0 p.a.
80%
A competitive variable rate product with low fees offered by a 100% online lender.
3.58%
3.58%
$0
$0 p.a.
70%
A low interest rate home loan with no application or ongoing fees.
3.64%
3.66%
$0
$0 p.a.
80%
A home loan with a competitive variable rate, limited fees and plenty of flexibility.
4.14%
4.14%
$0
$0 p.a.
80%
An investment home loan with competitive rate and 100% offset account.
4.64%
4.01%
$0
$0 p.a.
80%
Enjoy a fast application process and flexible repayment options with this fixed rate investment loan.
3.64%
3.64%
$0
$0 p.a.
70%
A low-rate basic home loan requiring a 30% deposit.
3.54%
3.56%
$0
$0 p.a.
80%
For new home buyers only. No refinance option. A low interest variable home loan with no application fee and free redraws. Offer ends 30th Nov.
3.69%
3.72%
$0
$0 p.a.
80%
A low rate home loan with no ongoing fees.
3.69%
4.01%
$0
$299 p.a.
95%
A loan with no application fee and borrow up to 95% LVR.
3.69%
3.69%
$0
$0 p.a.
90%
A special limited time offer for owner occupiers. An IMB Transaction Account must be opened with this loan.
4.19%
4.22%
$0
$0 p.a.
90%
Access a fee-free offset account and a special interest rate for investors.
3.39%
4.31%
$0
$0 p.a.
95%
Enjoy a low introductory fixed or variable interest rate for the first 12 months with no application or ongoing fees.
4.79%
5.44%
$0
$395 p.a.
95%
Package your 4-year fixed rate investment loan and pay no application fees.
3.99%
4.62%
$395
$0 p.a.
80%
Fix your interest rate and pay principal and interest repayments on your investment.
3.62%
3.64%
$0
$0 p.a.
80%
This loan is for refinancers only. Switch from your current loan to this low-rate, flexible and feature-packed refinance special.

3.99%
4.00%
$0
$0 p.a.
80%
A low-fee variable rate investor loan with a fast online application process.
3.78%
3.79%
$0
$0 p.a.
95%
A no frills loan with a competitive rate and a maximum LVR of 95%.
3.64%
4.03%
$0
$395 p.a.
80%
Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.
3.65%
4.84%
$0
$395 p.a.
90%
A 2 years fixed platinum package that has $0 application and a loan redraw facility.
3.74%
3.74%
$0
$0 p.a.
80%
Combine a low variable interest rate and free redraw with no application or ongoing fees.
3.79%
4.11%
$0
$299 p.a.
80%
A fully featured home loan with an offset account and discounts available.
3.77%
3.81%
$200
$0 p.a.
95%
A basic home loan with a low interest rate and a redraw facility available.
3.68%
3.83%
$0
$10 monthly ($120 p.a.)
80%
A low interest rate home loan that allows borrowers to borrow up to 80% of the property value.
3.72%
3.74%
$0
$0 p.a.
80%
Take advantage of a 100% offset account along with no annual or application fees.
3.64%
3.78%
$0
$10 monthly ($120 p.a.)
80%
A competitive variable rate home loan with flexible features. You can earn 30,000 Velocity Points for every $100k you borrow (for a limited time, subject to eligibility requirements).
3.88%
3.81%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.72%
3.75%
$600
$0 p.a.
80%
A maximum 80% LVR home loan with no ongoing service fees and a linked transaction account.
3.94%
4.88%
$0
$0 p.a.
90%
Enjoy a low interest rate and borrow up to 90% (with LMI) of your property's value.
3.79%
4.00%
$0
$10 monthly ($120 p.a.)
90%
Get a competitive interest rate for 3 years and a discounted variable rate when the fixed period ends.
3.69%
4.15%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.84%
3.84%
$0
$0 p.a.
110%
Requires a family member to act as guarantor. Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.97%
4.02%
$445
$0 p.a.
90%
Get a competitive rate without features you may not use.
3.99%
4.02%
$600
$0 p.a.
90%
Take advantage of a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
3.74%
3.74%
$0
$0 p.a.
90%
A competitive variable rate with a redraw facility. NSW, QLD and ACT residents only.
4.09%
4.11%
$0
$0 p.a.
80%
A low variable rate loan with no application or ongoing fees.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
3.85%
4.18%
$500
$0 p.a.
95%
Apply for Easy Street fixed rate home loans and get a competitive loan with a fixed interest rate.
3.69%
3.75%
$600
$0 p.a.
80%
A low interest rate variable home loan with no ongoing fees.
3.96%
3.98%
$0
$0 p.a.
90%
Take advantage of a redraw facility, competitive variable rate and no application or settlement fees for a limited time.
3.72%
4.19%
$0
$0 p.a.
80%
Enjoy a variable 3 year introductory rate with the Bankwest Equaliser Home Loan.
3.97%
4.02%
$0
$0 p.a.
90%
A low rate variable home loan offer with no monthly fees or application fee charge.
3.84%
4.83%
$0
$0 p.a.
95%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.88%
4.89%
$0
$395 p.a.
95%
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.09%
4.12%
$0
$0 p.a.
80%
Access the equity in your home with a competitive interest-only rate and no application fee.
3.69%
4.45%
$0
$375 p.a.
90%
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
3.97%
3.97%
$0
$0 p.a.
90%
A competitive variable rate home loan with no ongoing fees.
3.73%
3.73%
$0
$0 p.a.
70%
A special low variable rate for owner occupiers with 100% offset account and no application or ongoing fees.
$0
$0 p.a.
A basic low-rate home loan that still offers some useful features.
3.74%
3.74%
$0
$0 p.a.
95%
A low rate home loan with no application or ongoing fees. Note that to be eligible for this loan you must be QLD resident.
4.19%
4.19%
$0
$0 p.a.
90%
Access to redraw facility and offset account without the annual fee.
3.69%
3.69%
$0
$0 p.a.
70%
Enjoy a low variable rate with no application and ongoing fees.
3.79%
3.80%
$0
$0 p.a.
80%
A competitive rate with no ongoing monthly fees or application fees.
3.99%
4.03%
$0
$0 p.a.
95%
Enjoy a basic home loan with a high LVR and no application or ongoing fees.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.99%
4.99%
$0
$395 p.a.
95%
A package home loan with fee free extra repayments available during the fixed term.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Lock in a competitive fixed rate for 3 years.
3.69%
4.03%
$0
$299 p.a.
80%
Enjoy a low variable rate with no application fee.
3.75%
4.44%
$0
$0 p.a.
95%
This competitive introductory rate is a limited time offer for new owner-occupiers
3.68%
3.69%
$600
$0 p.a.
90%
Get a low variable rate along with some important basic features.

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What we've learned from the Global Financial Crisis

The issue of financial stability has been a hot topic since the Global Financial Crisis (GFC). Bear Stearns was purchased by JPMorgan Chase for just $10 per share in March 2008. In September later that year, two government-chartered lenders Freddie Mac and Fannie Mae were placed in the care of the US government. The Lehman Brothers collapsed not long after and Merrill Lynch soon sold itself to Bank of America. In Australia the impacts were felt too, the Commonwealth Bank acquired Bankwest and Westpac acquired St.George.

Since then, Australians have been more aware about the financial security of their loans and products, looking for some sort of guarantee or protection should their bank go bust.

However, it could be wise to borrow outside the safety of the big four banks. Many smaller lenders have competitive interest rates and more flexible terms than the major banks. With the Gillard Government banning exit fees, it provides you with more leverage and choice to refinance to a better home loan.

During the GFC, the introduction of the Government guarantee of bank deposits also prompted the myth that lenders beside the big four were unsafe, however, the guarantee only extends to deposits and not loans.

All registered financial institutions are regulated to absorb financial shocks

All registered financial institutions including credit unions, second tier lenders, online lenders and building societies are regulated by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC).

APRA is responsible for the prudential supervision of authorised deposit-taking institutions, such as implementing the Basel reforms to ensure that financial institutions are more resilient to economic shocks. Financial institutions are required to hold a certain portion of capital, as they provide a permanent commitment of funds and are available to absorb losses.

Pros and considerations of the big four banks

Pros
  • Large ATM network and more branches
  • Competition between the big four is very high, so if one reduces their rates, the other three will likely do it too
  • Biggest market share (also a consideration)
  • Tend to be more financially stable
  • Have migrant banking services for non-residents
Cons
  • Tend to have higher interest rates
  • Tend to lack in customer service
  • Don't really specialise in offering non-conforming loans for those with special circumstances

Frequently asked questions

Photo: Sydney Morning Herald

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.

IMB Budget Home Loan - LVR <=90% (Owner Occupier, P&I)

Get a competitive rate without features you may not use.

HSBC Home Value Loan - Resident Owner Occupier only, P&I

Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.

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