Compare 2 Year Fixed Rate Home Loans

Rates and Fees verified correct on February 28th, 2017

Future-proof your home loan repayments for two years.

Enjoy the stability of knowing your repayments which 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.

2 Years Fixed Rate Offer

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

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

3.89 % p.a.

2 year fixed rate

4.79 % p.a.

comparison rate

2 Years Fixed Rate Offer

Newcastle Permanent Building Society - 2 Year Fixed home loan offers a low fixed interest rate with no application fee and ongoing fee.

  • Interest Rate of 3.89% p.a.
  • Comparison Rate of 4.79% p.a.
  • Application Fee of $0
  • Maximum LVR: 95%
  • Minimum Borrowing: $10,000
  • Maximum Borrowing: $10,000,000

2 year fixed rate home loans

Rates last updated February 27th, 2017.

Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years

Interest rate is now 3.99%

November 28th, 2016

CUA Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)

Comparative rate increases by 0.03% | Interest rate increases by 0.15%

January 19th, 2017

CUA Premium Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier)

Comparative rate increases by 0.03% | Interest rate increases by 0.15%

January 19th, 2017

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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate)
A limited time 2 year fixed rate for owner occupiers. Conditions apply.
3.89% 4.79% $0 $0 p.a. 95% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Owner Occupier)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your home value.
4.49% 4.90% $0 $0 p.a. 95% Go to site More info
CUA Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
A fixed home loan with no ongoing fees and flexible repayments options.
3.84% 4.59% $600 $0 p.a. 95% Go to site More info
CUA Premium Fixed Rate Home Loan - 2 Year Fixed Rate (Owner Occupier)
Enjoy a 2 years fixed rate with $0 ongoing fees, free multi-account offset, flexible repayment options and easy access to your cash with a redraw facility.
4.06% 4.63% $600 $0 p.a. 95% Go to site More info
Citibank Fixed Rate Loan - 2 Year Fixed Rate (Owner Occupier)
One of Citibank's best fixed rate on offer.
4.19% 4.74% $399 $8 monthly ($96 p.a.) 90% Enquire now
ANZ Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier)
Flexible repayment options to help you save.
4.13% 5.10% $600 $10 monthly ($120 p.a.) 95% Enquire now
Citibank Mortgage Plus Fixed Rate - 2 Year Fixed Rate (Owner Occupier)
Borrow up to $90 with Citibank Mortgage Plus 2 Year Fixed Rate.
3.99% 4.54% $0 $350 p.a. 90% Enquire now
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier, P&I)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cash back available for refinancers, conditions apply.
3.99% 5.04% $0 $395 p.a. 95% Enquire now
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years
A low interest rate home loan and competitive two year fixed rate.
4.19% 5.32% $0 $395 p.a. 95% Enquire now
Westpac Fixed Options Home Loan - 2 Years
A fixed rate with redraw facility and portability options.
4.19% 5.32% $600 $8 monthly ($96 p.a.) 95% Enquire now
Commonwealth Bank Fixed Rate Home - 2 Year Fixed Rate (Owner Occupier)
Peace of mind for two years with a fixed interest rate.
4.14% 5.16% $600 $8 monthly ($96 p.a.) 90% Enquire now
eMoney PRIME Full Doc Fixed Home Loan - 2 Years
You can enjoy certainty, plan your budget and financial security when you fixed interest rates.
4.17% 4.59% $0 $0 p.a. 95% Enquire now
BankSA Super Fund Home Loan - 2 Year Fixed, P&I
A rate locked in for 2 years on your SMSF property.
4.99% 5.96% $1,500 $12 monthly ($144 p.a.) 70% Enquire now
4.59% 5.29% $200 $0 p.a. 0% More info

1 year fixed rate home loans

Rates last updated February 27th, 2017.

IMB Fixed Rate Home Loan - 1 Year Fixed (LVR < 90% Owner Occupier)

Comparative rate decreases by 0.09%

August 24th, 2016

Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year

Comparative rate increases by 0.08%

October 10th, 2016

Bank of Sydney Expect More Fixed Rate Home Loan - 1 Year

Comparative rate increases by 0.14% | Interest rate increases by 0.10%

November 18th, 2016

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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.59% 4.42% $0 $375 p.a. 85% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier)
Get a short term fixed rate for that investment property with no application or ongoing fees.
4.49% 4.95% $0 $0 p.a. 95% Go to site More info
IMB Fixed Rate Home Loan - 1 Year Fixed (LVR < 90% Owner Occupier)
Lock in a rate for one year and get the ability to make additional repayments for 12 months without penalty.
4.29% 4.84% $445 $6 monthly ($72 p.a.) 90% Go to site More info
Commonwealth Bank Fixed Rate Home - 1 Year Fixed Rate (Owner Occupier)
A 1 year fixed rate home loan from Commonwealth Bank.
4.54% 5.30% $600 $8 monthly ($96 p.a.) 90% Enquire now
3.79% 4.12% $0 $330 p.a. 80% Enquire now
eMoney PRIME Full Doc Fixed Home Loan - 1 Year
Enjoy flexible features such as interest rate lock.
4.17% 4.63% $0 $0 p.a. 95% Enquire now
Citibank Fixed Rate Loan - 1 Year Fixed Rate (Owner Occupier)
A competitive fixed interest rate with an international bank.
4.19% 4.76% $399 $8 monthly ($96 p.a.) 90% Enquire now
St.George Fixed Rate Home Loan - 1 Year Fixed Rate (Owner Occupier, P&I)
Enjoy a 1 year fixed rate with great features such as redraw, rate lock, a partial interest offset facility, repayment pause and more!
4.54% 5.39% $600 $10 monthly ($120 p.a.) 95% Enquire now
Bank of Sydney Expect More Fixed Rate Home Loan - 1 Year
$0 application fee with a 1 year fixed rate home loan.
4.09% 4.61% $0 $395 p.a. 90% Enquire now
Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year
Secure a low fixed rate offer plus low ongoing fee.
4.59% 5.47% $0 $395 p.a. 95% Enquire now
ANZ Breakfree Package Home Loan - 1 Year Fixed (Owner Occupier)
A competitive package home loan with 100% offset account.
4.39% 4.75% $0 $395 p.a. 95% Enquire now
4.86% 5.73% $600 $8 monthly ($96 p.a.) 95% Enquire now
BankSA Super Fund Home Loan - 1 Year Fixed, P&I
Borrow from $100000 up to $2000000.
5.19% 6.07% $1,500 $12 monthly ($144 p.a.) 70% Enquire now
St.George Fixed Super Fund Home Loan - 1 Year Fixed Rate (Investors, IO)
Lock in a competitive rate for 1 year and save on costs related to your SMSF investment.
5.19% 6.18% $1,500 $12 monthly ($144 p.a.) 70% Enquire now

3 year fixed rate home loans

Rates last updated February 27th, 2017.

Bankwest Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupiers)

Comparison rate increases by 0.05% | Interest rate increases by 0.20%

December 7th, 2016

ME Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier)

Comparative rate increases by 0.07%

January 4th, 2017

Greater Bank Ultimate Home Loan - Discounted 3 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

Interest rate is now 3.84%

January 16th, 2017

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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier Special Rate)
A limited time fixed rate home loan with extra repayment abilities. Conditions apply.
3.99% 4.73% $0 $0 p.a. 95% Go to site More info
ME Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier)
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
4.09% 4.80% $0 $0 p.a. 95% Go to site More info
IMB Platinum Package Fixed Home Loan - 3 Year Fixed (LVR < 90% Owner Occupier)
3 years fixed platinum package with a low interest rate and $0 application fee.
3.75% 4.69% $0 $395 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Years Fixed (Owner Occupier)
Split your loan for free with one of the lowest fixed home loan rates.
4.59% 4.89% $0 $0 p.a. 95% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 3 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Enjoy discounts on insurance products and other accounts with Greater with this package loan. NSW, QLD and ACT residents only.
3.84% 4.40% $0 $375 p.a. 85% Go to site More info
IMB Fixed Rate Home Loan - 3 Year Fixed (LVR < 90% Owner Occupier)
3 years fixed interest terms and free access to redraw facility online.
3.85% 4.64% $445 $6 monthly ($72 p.a.) 90% Go to site More info
Homeloans Ultra - 3 Year Fixed Rate
A 3 year fixed rate offer from Homeloans.
4.94% 5.00% $0 $0 p.a. 95% Enquire now
Commonwealth Bank Fixed Rate Home - 3 Year Fixed Rate (Owner Occupier)
A fixed rate home loan offer from Commonwealth Bank.
4.24% 5.10% $600 $8 monthly ($96 p.a.) 90% Enquire now
Bankwest Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupiers)
Fix your home loan for 3 years and be able to work out your budget knowing your loan repayments.
4.19% 5.09% $295 $12 monthly ($144 p.a.) 90% Enquire now
Citibank Mortgage Plus Fixed Rate - 3 Year Fixed Rate (Owner Occupier)
A competitive fixed interest rate for three years.
4.19% 4.57% $0 $350 p.a. 80% Enquire now
St.George Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier, P&I)
Redraw facility and interest-only repayments available.
4.24% 5.18% $600 $10 monthly ($120 p.a.) 95% Enquire now
Westpac Fixed Options Home Loan - 3 Years
Ability to make extra repayments during the fixed term and access the money through redraw.
4.29% 5.24% $600 $8 monthly ($96 p.a.) 95% Enquire now
Heritage Bank Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier) New Customers Only
Enjoy a fixed rate for three years along with additional features.
3.99% 4.90% $600 $8 monthly ($96 p.a.) 95% More info
AMP SuperEdge Loan - 3 Year Fixed Rate, P&I
Enjoy a 3 years fixed rate with AMP SuperEdge Loan to borrow and purchase investment property through your SMSF.
5.59% 6.12% $0 $10 monthly ($120 p.a.) 70% Enquire now

5 year fixed rate home loans

Rates last updated February 27th, 2017.

Westpac Fixed Options Home Loan Premier Advantage Package - 5 Years

Interest rate decreases by 0.14%

October 10th, 2016

Bankwest Fixed Rate Home Loan - 5 Year Fixed Rate (Owner Occupiers)

Comparison rate increases by 0.17% | Interest rate increases by 0.41%

December 7th, 2016

Greater Bank Ultimate Home Loan - Discounted 5 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

Interest rate increases by 0.20%

January 16th, 2017

View latest updates

Jodie Humphries Jodie
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Greater Bank Ultimate Home Loan - Discounted 5 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Keep your loan below 85% LVR with a loan amount above $150k and this discounted 5 year fixed rate. NSW, QLD and ACT residents only.
4.19% 4.50% $0 $375 p.a. 85% Go to site More info
IMB Fixed Rate Home Loan - 5 Year Fixed (LVR < 90% Owner Occupier)
Borrow up to 90% of your home’s value and lock in your rate for 5 years.
4.39% 4.73% $445 $6 monthly ($72 p.a.) 90% Go to site More info
Greater Bank Great Rate Home Loan - Discounted 5 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
A low fee fixed rate home loan with a redraw facility. NSW, QLD and ACT residents only.
4.39% 4.33% $0 $0 p.a. 85% Go to site More info
ANZ Fixed Rate Home Loan - 5 Year Fixed (Owner Occupier)
Borrow up to 80% of your home loan value.
4.74% 5.12% $600 $10 monthly ($120 p.a.) 95% Enquire now
Commonwealth Bank Fixed Rate Home - 5 Year Fixed Rate (Owner Occupier)
A fixed home loan rate from Commonwealth Bank.
4.74% 4.16% $600 $8 monthly ($96 p.a.) 90% Enquire now
St.George Fixed Rate Home Loan - 5 Year Fixed Rate (Owner Occupier, P&I)
Enjoy a 5 years fixed rate with great features such as rate lock, a partial interest offset facility, repayment pause and more!
4.54% 5.15% $600 $10 monthly ($120 p.a.) 95% Enquire now
eMoney PRIME Full Doc Fixed Home Loan - 5 Years
Plan your budget with eMoney PRIME Full Doc Fixed Home Loan - 5 Years.
4.37% 4.54% $0 $0 p.a. 95% Enquire now
Citibank Fixed Rate Loan - 5 Year Fixed Rate (Owner Occupier)
A competitive fixed interest rate, borrow from a mininum of $50K to $4M.
4.69% 4.89% $399 $8 monthly ($96 p.a.) 90% Enquire now
BankVic Premium Package Fixed Home Loan - 5 Years
Have the ease of budgeting with BankVic Premium Package Fixed Home Loan - 5 Years.
4.44% 4.51% $0 $375 p.a. 95% More info
Bankwest Fixed Rate Home Loan - 5 Year Fixed Rate (Owner Occupiers)
Lock in your rate for 5 years with the ability to make additional repayments up to $10,000 per year.
4.49% 5.06% $295 $12 monthly ($144 p.a.) 90% Enquire now
Westpac Fixed Options Home Loan Premier Advantage Package - 5 Years
A competitive interest rate with a host of other discounts on Westpac products.
4.59% 5.20% $0 $395 p.a. 95% Enquire now
Austral Mortgage AdvantagePlus Fixed - 5 Years
Enjoy a 5 years fixed rate home loan with $0 ongoing fee.
4.93% 5.07% $330 $0 p.a. 95% More info
St.George Fixed Super Fund Home Loan - 5 Year Fixed Rate (Investors, IO)
A super fund home loan with low monthly fee, partial offset account and borrow up to 70% LVR.
5.39% 6.00% $1,500 $12 monthly ($144 p.a.) 70% Enquire now
5.89% 6.20% $0 $10 monthly ($120 p.a.) 70% Enquire now
Commonwealth Bank Wealth Package Fixed Home Loan - 5 Year Fixed (Owner Occupier) P&I
A competitive interest rate with a range of repayment choices.
4.59% 5.07% $0 $395 p.a. 95% Enquire now

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 the economic market changes 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 plan 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.

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 loan term. Since this home loan is only for two years you won’t feel locked in to your loan like you would with longer term loans. This type of short loan 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 should probably 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

Can I make additional repayments?

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.

Are there any fees attached to the 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.

Who is this loan ideal for?

These loans are great for those who enjoy stability and budgeting their income for their bills since the fixed rate guarantees your repayments will stay the same. The loan is also great for investors who want to maximise their cash flow.

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This page was last modified on 14 February 2017 at 16:12.

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

loans.com.au Essentials - Variable (Owner Occupier, P&I)

A competitive interest rate home loan with interest only options. Interest rate 3.59%p.a.
comp rate of 3.61%p.a.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

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

Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150,000+ Owner Occupier)

Apply for a new owner occupier loan or refinance from another lender and receive this discounted rate.

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