Compare 2 Year Fixed Rate Home Loans

Rates and fees last updated on

Future-proof your home loan repayments for two years.

Enjoy the stability of knowing your repayments won’t change for two years. This provides you with the stability of a normal fixed rate mortgage but doesn’t pin you down for such a long period of time that you get locked into an agreement with no way of taking advantage of favourable market fluctuations.

2 year fixed rate home loans are offered by most banking institutions, credit unions, and building societies in Australia.

Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate, P&I)

Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate, P&I)

3.64 % p.a.

fixed rate

4.83 % p.a.

comparison rate

Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate, P&I)

Owner-occupiers can lock in a competitive rate with no ongoing fees. Conditions apply.

  • Interest rate of 3.64% p.a.
  • Comparison rate of 4.83% p.a.
  • Application fee of $0
  • Maximum LVR: 95%
  • Minimum borrowing: $10,000
  • Max borrowing: $10,000,000
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2 year fixed rate home loans

Rates last updated September 21st, 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
3.64%
4.83%
$0
$0 p.a.
95%
Owner-occupiers can lock in a competitive rate with no ongoing fees. Conditions apply.
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.
3.69%
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.
3.74%
4.81%
$0
$0 p.a.
95%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.99%
3.84%
$0
$0 p.a.
80%
Fix a low rate home loan for 2 years with Aussie Home Loans.
4.19%
3.78%
$0
$0 p.a.
80%
Tic:Toc's fixed rate owner occupier loan has a competitive rate, limited fees and a fast, easy online application process.
3.74%
4.85%
$0
$0 p.a.
95%
Enjoy a low interest rate and borrow up to 95% (with LMI) of your property's value.
3.98%
5.13%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan with additional repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.09%
5.51%
$399
$8 monthly ($96 p.a.)
90%
Enjoy a low rate on a 2-year fixed home loan.
4.03%
5.04%
$600
$10 monthly ($120 p.a.)
95%
Flexible repayment options to help you save.
4.09%
4.59%
$0
$350 p.a.
90%
Get a 2-year fixed rate with a high maximum LVR and no application fees.
3.99%
4.98%
$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%
4.90%
$0
$395 p.a.
95%
Lock in a discounted fixed rate with a low service fee.
4.14%
5.16%
$600
$8 monthly ($96 p.a.)
95%
Peace of mind for two years with a fixed interest rate.
5.99%
6.67%
$1,500
$12 monthly ($144 p.a.)
70%
Lock in a competitive 2-year fixed rate on your SMSF property
4.19%
5.18%
$600
$8 monthly ($96 p.a.)
95%
Get the stability of a 2-year fixed rate with the flexibility of great features.
Gateway Credit Union Investment Land Fixed - 2 Years
4.59%
5.57%
$200
$0 p.a.
0%

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1 year fixed rate home loans

Rates last updated September 21st, 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
3.49%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.69%
4.15%
$395
$0 p.a.
80%
Refinance with UBanks low 1 year fixed rate offer. No application fee.
3.74%
4.96%
$0
$0 p.a.
95%
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
3.94%
3.71%
$0
$0 p.a.
80%
Apply online for this fixed rate, low-fee loan with redraw facilities and an optional offset account.
3.99%
5.25%
$600
$8 monthly ($96 p.a.)
95%
Enjoy a low rate fixed home loan with the ability to borrow up to 95% of the property value. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.14%
5.26%
$600
$8 monthly ($96 p.a.)
95%
A 1 year fixed rate home loan from Commonwealth Bank.
4.09%
5.65%
$399
$8 monthly ($96 p.a.)
90%
Get a competitive 1-year fixed rate from an international bank.
4.14%
5.28%
$600
$10 monthly ($120 p.a.)
95%
Enjoy a 1-year fixed rate with flexible features such as redraw, rate lock, a partial interest offset facility, repayment pause and more.
3.99%
4.96%
$0
$395 p.a.
95%
Secure a competitive 1-year fixed rate with low ongoing fees.
3.99%
5.02%
$0
$395 p.a.
95%
A competitive package home loan with 100% offset account.
4.39%
5.79%
$600
$8 monthly ($96 p.a.)
95%
A competitive fixed rate home loan with extra repayments available.
5.99%
6.72%
$1,500
$12 monthly ($144 p.a.)
70%
Borrow from $100000 up to $2000000.
6.44%
7.25%
$1,500
$12 monthly ($144 p.a.)
70%
Enjoy a partial offset account and interest-only options.

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3 year fixed rate home loans

Rates last updated September 21st, 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
3.69%
4.73%
$0
$0 p.a.
95%
A limited time fixed rate home loan with extra repayment abilities. Conditions apply.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
3.94%
4.84%
$0
$395 p.a.
95%
Receive discounts on interest rates with the Choice Package. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.99%
4.77%
$0
$0 p.a.
95%
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.79%
4.75%
$0
$0 p.a.
95%
A low 3-year fixed rate with the option to split your loan for free.
3.99%
4.08%
$395
$0 p.a.
80%
A competitive refinance offer on a 3 year fixed rate.
3.74%
4.42%
$0
$375 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
4.04%
5.05%
$600
$8 monthly ($96 p.a.)
95%
Flexible fixed rate home loan which will allow you to take break from repayments if you're ahead of scheduled repayments.
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.
4.32%
3.85%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
4.94%
5.00%
$0
$0 p.a.
95%
A 3 year fixed rate offer from Homeloans.
4.09%
4.98%
$0
$395 p.a.
90%
Lock your rate in for 3 years and enjoy a discount on your loan of $150,000 -$249,000.
4.14%
5.07%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan offer from Commonwealth Bank.
4.38%
5.21%
$295
$12 monthly ($144 p.a.)
90%
Get budgeting certainty with a competitive 3-year fixed rate.
4.29%
4.63%
$0
$350 p.a.
80%
Enjoy the certainty of a fixed rate home loan along with additional repayments up to $1,000 per month without penalty.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Principal and Interest or Interest only terms, lock in a 3 year fixed rate.
4.09%
5.08%
$600
$10 monthly ($120 p.a.)
95%
Redraw facility and interest-only repayments available.
4.19%
5.09%
$600
$8 monthly ($96 p.a.)
95%
Ability to make extra repayments during the fixed term and access the money through redraw.
4.09%
4.96%
$0
$8 monthly ($96 p.a.)
95%
Enjoy a 3-year fixed rate along with additional features.
3.94%
4.90%
$0
$395 p.a.
95%
A 3 years fixed rate that allows borrowers to borrow from $150000 up to $10000000.
3.99%
4.90%
$0
$395 p.a.
95%
A competitive three year fixed rate with discounts on fees.
3.99%
4.72%
$0
$299 p.a.
95%
A competitive and flexible package that offers discounts and a sharp 3-year fixed rate.
3.79%
4.48%
$0
$299 p.a.
95%
A low 3-year fixed rate with no ongoing fees.

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5 year fixed rate home loans

Rates last updated September 21st, 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
4.14%
4.71%
$0
$0 p.a.
95%
Owner-occupiers can enjoy peace of mind with a low 5-year fixed rate.
4.59%
5.01%
$0
$395 p.a.
95%
A competitive loan with flexible features. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.09%
4.25%
$0
$0 p.a.
85%
A low-fee fixed rate home loan with a redraw facility. NSW, QLD and ACT residents only.
4.54%
4.04%
$0
$0 p.a.
80%
Get quick online approval for Tic:Toc's fixed rate owner occupier home loan. Low fees, flexible repayments.
4.49%
5.01%
$0
$395 p.a.
95%
A discounted rate and fee waivers are available with this loan.
4.69%
5.14%
$600
$8 monthly ($96 p.a.)
95%
A flexible five year fixed rate home loan.
4.64%
5.04%
$600
$10 monthly ($120 p.a.)
95%
Borrow up to 80% of your home loan value.
4.34%
5.00%
$600
$8 monthly ($96 p.a.)
95%
A fixed home loan rate from Commonwealth Bank.
4.44%
5.06%
$600
$10 monthly ($120 p.a.)
95%
Enjoy a 5-years fixed rate with great features such as rate lock, a partial interest offset facility, repayment pause and more
4.59%
5.35%
$399
$8 monthly ($96 p.a.)
90%
Borrow up to $4 million on a competitive 5-year fixed rate
4.44%
4.51%
$0
$375 p.a.
95%
Package your 5-year fixed rate home loan and save.
4.69%
5.20%
$295
$12 monthly ($144 p.a.)
90%
Enjoy the stability of a 5-year fixed rate with the flexibility of up to $10k per year in extra repayments.
4.19%
4.83%
$0
$395 p.a.
95%
You can save on a host of Westpac products by packaging your 5-year fixed rate home loan.
4.93%
5.07%
$330
$0 p.a.
95%
A competitive 5-year fixed rate with no ongoing fees.
6.84%
7.22%
$1,500
$12 monthly ($144 p.a.)
70%
SMSF investors can lock in their rate for 5 years.
4.49%
4.97%
$0
$8 monthly ($96 p.a.)
95%
A 5-year fixed rate that allows for extra repayments.
5.89%
6.39%
$0
$10 monthly ($120 p.a.)
50%
Fix your rate for 5 years and pay no application fee.
4.19%
4.90%
$0
$395 p.a.
95%
A competitive interest rate with a range of repayment choices.

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What's a two year fixed rate home loan?

Title

A home loan fixed for two years is a short-term mortgage with a fixed interest rate for the duration of the loan. It guarantees that you’ll pay the same repayment for the full two years of the loan even if home loan variable rates rise during that time. This will allow you to budget your money wisely since you know exactly what you’ll have to pay toward the loan each billing period. Once the two years are up you can decide to select another fixed rate loan or switch to a variable rate loan if you feel that a fixed rate isn’t suited to you.

A two year fixed rate home loan is no different from a normal home loan. The difference comes in the form of the interest rate. While most home loans have variable interest rates that can fluctuate with the economy, a fixed rate loan gives you a locked-in interest rate that remains the same for the duration of the fixed term, in this case for two years. There’s also a difference in the features which typically come with a fixed rate loan. For example, fixed rate loans usually don’t allow you make additional repayments to pay off your loan faster (or they limit how much extra money you can pay during the fixed term). They usually don’t come with offset accounts either.

Types of fixed home loans available

Below are some of the types of fixed rate mortgages available for two years

Basic home loans

This type of home loan has minimal features but offers competitive rates and low fees. This is ideal for those looking for the cheapest rate without the bells and whistles of additional features.

Full featured home loans

If you're looking for added features like offset accounts, flexible repayments and the like a full featured home loan is for you. Since it has additional features this loan usually has higher fees and sometimes higher interest rates associated with it. Be aware, though, that many fixed rate home loans don't offer these features.

Package home loans

This type of home loan usually comes with an annual fee that must be paid but it also has rate discounts. This kind of loan may also come with additional discounts on other financial products from the individual lender.

Low doc loans

This home loan is ideal for people who don't have evidence of their income such as investors or self-employed individuals. If you don't have traditional paperwork documenting your income a low doc loan may be perfect for you.

Bad credit home loans

As the name states, this is a home loan that is made available to individuals who may not have the best credit history.

How to compare two year fixed mortgages

  • Interest rates. This will be one of the key factors you’ll probably look at when you’re comparing home loans. Since the interest rate is what makes up your fixed repayments you’ll want to find the one that fits your budget the best. You should also look at the comparison rate which will tell you what your repayments will be with fees factored into the total.
  • Offered features. You’ll also want to look at what additional features come with your two year fixed rate home loan. These extra features could be a redraw option, flexible repayment options, or offset accounts. Fixed rate loans usually don’t offer too many additional features so if you want them you’ll want to have a close look at what’s on offer. On the other hand, if you don’t want any additional features you should look for a loan without any since features usually cost additional fees.
  • Fees. Loans will have different fees including application fees, settlement fees, exit fees, and annual fees. In order to save money on your loan you’ll want to compare your options to find the lowest available fees.
  • Revert rates. A revert rate is the rate that your loan will revert to once your fixed term is over. If you want to stay with your loan after your fixed period ends you’ll want to make sure that the revert rate isn’t too high for your budget. Compare loans based on this rate in order to get the best deal overall.

Pros and cons of these fixed rate home loans

Pros

  • A short fixed term. Since this home loan is only fixed for two years you won’t feel locked in to your loan like you would with longer term fixed rate loans. This type of short term is ideal if you’re looking to sell your property sooner rather than later or if you just don’t like the rigid structure of the longer fixed rate home loans.
  • A guaranteed repayment amount. With a fixed rate home loan you’ll never be surprised by your repayment amount. Once you agree upon the fixed rate, you’ll pay that amount for the two years of the loan. You won’t have to worry about your rate fluctuating with the market or with your financial institution.
  • Budget friendly home loan. Since you’ll know exactly what you have to repay toward your fixed rate home loan each billing cycle you can plan a budget accordingly. This isn’t possible with variable rate loans since you never know what you’ll be paying from one bill to the next.

Cons

  • Possible lost savings. With a fixed rate home loan you’ll miss out on savings if the RBA drops the official cash rate or economic factors change during your two year fixed rate loan term. If this happens during your loan term there’s a chance that you’ll be paying more than those with a variable rate home loan.
  • High fees. Fixed rate home loans are sometimes associated with high fees. These fees may offset any savings that your fixed rate may give you.
  • Lack of extra features. These type of loans usually don’t come with additional features like additional repayments, offset accounts, or redraw options. If they do come with these features there are usually high fees or limitations put on them.

Things to consider when comparing two year fixed mortgages

thinkingBefore choosing a two year fixed rate home loan you should check the current RBA cash rate rate, and what experts think may happen to it in the short and medium term. If you see that there’s a possible rate drop in the near future you may want to choose a variable rate loan over a fixed rate one. This will save you money during your loan term since you’ll be able to take advantage of the impending rate drop. If you choose a fixed rate you’ll miss out on those savings.

Two year fixed rate home loans allow you to enjoy a short term mortgage with stable repayments for the duration of the loan. Settle into your new home without worrying about fluctuating repayments in an unstable economy.

Frequently asked questions about two year fixed rate home loans

Fixed rate home loans usually put limitations on how many additional repayments you can make each year. If you plan on making additional repayments often you may want to choose another type of loan.

There are usually application fees, exit fees, and annual fees associated with a fixed rate loan. There may also be fees for additional features that come with the loan.

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This page was last modified on 11 September 2017 at 1:26pm.

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Pay no ongoing fees on a competitive variable rate home loan.

NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I)

A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.

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

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Get a competitive rate without features you may not use.

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