Compare 3 Year Fixed Rate Home Loans from 3.74%

3 Year Fixed RateHow to find a three year fixed rate home loan that suits you

Fixing a home loan for three years means you’ll be able to rest easy with the knowledge that your home loan rates and repayments will not creep up during the three year term.

No matter what external economic factors are occurring or what happens with the RBA’s monthly interest rate decision, a three year fixed rate mortgage won’t give you any repayment surprises.

As with any financial product, there are some drawbacks to a fixed home loan, including lack of flexibility and early repayment fees or break costs if you repay your loan before the fixed period ends.

3 Years Fixed Rate Home Loan Offer

UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)

3.74 % p.a.

fixed rate

4.01 % p.a.

comparison rate

3 Years Fixed Rate Home Loan Offer

The UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I) offers a low fixed interest rate with no ongoing fees.

  • Interest rate of 3.74% p.a.
  • Comparison rate of 4.01% p.a.
  • Application fee of $395
  • Maximum LVR: 80%
  • Minimum borrowing: $100,000
  • Max borrowing: $1,000,000
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Promoted

3 year fixed rate home loans

Rates last updated October 15th, 2018
$
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
3.74%
4.01%
$395
$0 p.a.
80%
A competitive fixed interest rate product with no ongoing bank fees.
3.87%
3.91%
$0
$10 monthly ($120 p.a.)
90%
Get Velocity Frequent Flyer Points at settlement, monthly and every three years, plus the option to make up to $10,000 a year in extra repayments.
3.79%
4.65%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.74%
4.01%
$395
$0 p.a.
80%
A competitive 3 year fixed rate with no ongoing bank fees.
3.79%
4.67%
$0
$349 p.a.
90%
A package home loan with a sharp fixed rate and a 10% deposit option for low deposit borrowers.
3.85%
4.18%
$0
$350 p.a.
95%
New customers get flexible repayments along with a redraw facility when they lock in their rate for 3 years.
3.83%
4.57%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
3.89%
5.01%
$0
$395 p.a.
95%
Lock in a discounted rate for 3 years and have the option for interest only repayments. $2,000 cashback offer for eligible refinancers.
3.83%
4.89%
$0
$395 p.a.
80%
A flexible 3 year fixed rate loan you can use to buy your own home.
3.99%
5.35%
$600
$0 p.a.
90%
Competitive rates for fixed for 3 years with redraw facility.
3.84%
4.53%
$0
$395 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.84%
3.82%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
3.85%
4.94%
$0
$8 monthly ($96 p.a.)
95%
Fix your rate and enjoy a partial offset account along with flexible repayments.
4.14%
4.81%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
4.24%
4.00%
$0
$0 p.a.
80%
Buy an investment property and enjoy the certainty of a 3-year fixed rate with interest-only payments.
3.99%
4.86%
$595
$0 p.a.
95%
A low 3-year fixed rate with the option to split your loan for free.
3.99%
4.44%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
4.29%
4.26%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.79%
4.78%
$0
$375 p.a.
90%
Pay no upfront fees or monthly fees on Suncorp Bank Personal Loans when you opt for the Home Package Plus.
4.49%
4.27%
$0
$0 p.a.
90%
Fixed rate loan with a 100% offset account and a 10% deposit option.
4.04%
5.15%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan offer from Commonwealth Bank.
4.13%
5.25%
$295
$12 monthly ($144 p.a.)
90%
Get budgeting certainty with a competitive 3-year fixed rate.

Compare up to 4 providers

1 year fixed rate home loans

Rates last updated October 15th, 2018
$
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
3.59%
4.14%
$395
$0 p.a.
80%
Refinance with UBanks low 1 year fixed rate offer. No application fee.
3.59%
3.58%
$0
$0 p.a.
80%
Apply online and get fast approval for this fixed rate, low-fee loan with redraw facilities. Add a 100% offset account for a small fee.
3.69%
4.75%
$0
$395 p.a.
90%
Enjoy a competitive rate with no application fee for this package loan.
3.58%
4.71%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
3.94%
3.94%
$0
$0 p.a.
90%
Lock in a short interest loan term with a low interest rate.
3.89%
5.05%
$595
$0 p.a.
90%
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
3.79%
4.92%
$0
$375 p.a.
90%
Enjoy flexible repayment options as well as locking in your rate for 1 year to avoid rising interest rates.
3.99%
4.62%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
4.08%
3.87%
$0
$248 p.a.
80%
Borrow up to 80% LVR with no application fee and ongoing fees.
4.09%
5.09%
$0
$395 p.a.
95%
Secure a competitive 1-year fixed rate with low ongoing fees. Score 200-500,000 Velocity Points when you get this loan.
3.69%
4.38%
$0
$0 p.a.
90%
A discounted 1 year fixed rate if your loan has an LVR under 80% and is more than $150k. NSW, QLD and ACT residents only.
4.25%
4.18%
$0
$0 p.a.
90%
Fix your rate for a year and borrow up to 90% of your home's value.
3.49%
4.57%
$0
$395 p.a.
90%
Loans over $150k get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
3.84%
3.91%
$0
$0 p.a.
80%
Get instant online approval and flexible repayment options with this fixed rate mortgage for investing.
4.24%
4.68%
$0
$0 p.a.
90%
Fix your investment repayments for 1 year. You can get this loan with a 10% deposit. Available in QLD, NSW and ACT only.
4.04%
5.38%
$600
$8 monthly ($96 p.a.)
95%
A 1 year fixed rate home loan from Commonwealth Bank.
4.04%
3.93%
$0
$0 p.a.
80%
Fix your rate for 1 year and make interest-only payments.
4.09%
4.87%
$0
$395 p.a.
90%
Buy your investment property and set your repayments for the first year. Available in QLD, NSW and ACT only.
4.24%
5.42%
$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.
3.79%
4.75%
$375
$15 monthly ($180 p.a.)
95%
A fixed rate home loan with 100% offset account.

Compare up to 4 providers

2 year fixed rate home loans

Rates last updated October 15th, 2018
$
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%
3.59%
$0
$0 p.a.
80%
Fast, 100% online application process. Very limited fees. Optional offset account (with fee).
3.88%
4.51%
$0
$395 p.a.
90%
Lock in a very competitive 2 year rate and get package discounts on your credit card and offset account. $1,500 cashback available (conditions apply).
4.09%
3.89%
$0
$248 p.a.
80%
Fixed rate home buyer product with very low fees. Available with just a 5% deposit.
3.74%
4.69%
$0
$395 p.a.
90%
Enjoy a discounted fixed rate and the ability to package the loan with other financial products.
4.14%
3.96%
$0
$0 p.a.
80%
Investors can go from application to full approval in as little as 20 minutes with this innovative online lender.
3.99%
3.92%
$0
$10 monthly ($120 p.a.)
90%
Enjoy a competitive fixed rate with no application fee. Earn double Velocity Frequent Flyer Points to spend on flights and hotels. Terms and conditions apply.
3.82%
4.64%
$499
$0 p.a.
95%
Get a competitive rate along with flexible repayment options.
3.89%
4.24%
$0
$0 p.a.
80%
Fix your rate and minimise repayments for 2 years with this interest-only investor mortgage.
3.72%
4.63%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
3.89%
3.94%
$0
$0 p.a.
80%
Pay no application or ongoing fee and borrow up to 80% LVR.
3.75%
5.04%
$0
$395 p.a.
95%
This 2 year fixed ANZ Breakfree Package rate comes with package discount and product bundle. Terms and conditions, package fee and fees, charges & eligibility criteria apply.
3.69%
4.54%
$0
$395 p.a.
90%
A fixed rate loan with a 100% offset account and the option to make additional repayments. Loans over $150k receive a discounted rate. NSW, QLD and ACT residents only.
3.79%
5.07%
$0
$395 p.a.
95%
Get discounts on a range of Commonwealth Bank products and enjoy the option of fee-free extra repayments during the fixed term. $2,000 cashback offer for eligible refinancers.
3.85%
5.06%
$0
$395 p.a.
95%
A package home loan with no application fee. Borrow up to 95%.
3.94%
4.95%
$595
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying and pay no application or ongoing fees.
4.09%
4.40%
$0
$0 p.a.
70%
Forget about rate rises for two years and minimise your investment repayments with this interest only mortgage. Requires a 30% deposit.
3.79%
4.17%
$0
$350 p.a.
95%
New customers can enjoy flexible repayments and a partial offset account.
3.84%
4.18%
$0
$395 p.a.
80%
Lock in a competitive rate for owner occupiers for two years. Extra repayments up to $30,000 over the life of the fixed period can be made.
4.33%
4.21%
$0
$0 p.a.
90%
Lock in your interest rate for two years and enjoy package discounts.
3.79%
4.85%
$0
$375 p.a.
90%
A 2 year fixed rate home loan packaged with your day-to-day banking needs offering discounts on all.
3.79%
5.03%
$0
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
3.89%
3.94%
$0
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying, and pay no application fee.
3.99%
4.86%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.94%
3.92%
$0
$0 p.a.
80%
Lock in your interest rate for 2 years and enjoy flexibility, an optional offset account and a fast online application process.
3.85%
5.05%
$0
$395 p.a.
95%
Competitive variable rate package loan with $1,500 cashback offer.
3.94%
5.25%
$600
$8 monthly ($96 p.a.)
95%
Competitive fixed rate offer from a Big Four bank. Refinancers could be eligible for $2,000 cashback.

Compare up to 4 providers

5 year fixed rate home loans

Rates last updated October 15th, 2018
$
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
4.09%
4.30%
$0
$0 p.a.
90%
A low-fee fixed rate home loan with a redraw facility. NSW, QLD and ACT residents only.
3.99%
4.00%
$0
$375 p.a.
95%
3.98%
4.49%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
4.09%
4.87%
$0
$395 p.a.
95%
A competitive fixed rate offer from one of the Big Four banks.
4.08%
4.53%
$499
$0 p.a.
95%
Get the certainty of a rate lock and the flexibility to make additional repayments.
4.39%
5.06%
$0
$395 p.a.
95%
Fix in a competitive rate for five years and pay no establishment or monthly fees.
4.09%
4.10%
$395
$0 p.a.
80%
An online only home loan with a great 5 year fixed rate. Available for refinance and purchases.
4.19%
4.82%
$0
$375 p.a.
90%
No annual card fee on either Standard, Gold, or Platinum Suncorp Bank Clear Options Credit Cards as part of this package home loan.
4.46%
4.08%
$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%
4.56%
$395
$0 p.a.
80%
Lock in a 5 year fixed rate on your investment loan and pay no ongoing fees.
4.56%
4.18%
$0
$0 p.a.
80%
This fixed rate investment loan has a competitive interest rate, limited fees and flexible repayment options. Apply online and get quick approval.
4.49%
4.56%
$395
$0 p.a.
80%
Forget about rate rises for 5 years and minimise repayments on your investment mortgage.
4.59%
5.14%
$0
$395 p.a.
95%
Get discounts on your rate and fees by packaging your home loan.

Compare up to 4 providers

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What's a three year fixed rate mortgage?
fixed interest rates

As the name implies, this is a home loan which has a rate fixed for three years. Most banks and lenders across Australia will offer a three year fixed rate home loan. This is because it’s a great mix of security and length: three years is long enough to reap the benefits of a competitive rate, but short enough to give you the flexibility to change loans if you find that a fixed rate isn’t for you.

Once the three year period ends, two things can happen. Firstly, your loan could revert to the standard variable rate offered by your lender unless you choose otherwise, or secondly, your lender may approach you to fix an interest rate for another term. In most cases your lender will notify you when your fixed period is close to ending so you can make a decision. If they don’t, ensure you set a calendar reminder well before the fixed rate ends so you can decide on what you’re going to do.

How does a three year fixed rate mortgage work?

Each month, the RBA sets a ‘cash rate target’. This, as well as other economic factors, can have a bearing on what your lender decides to do with their home loan rates.

If the rates go down, those with variable rate loans could see their repayments go down too; however, if rates go up, variable rate borrowers could be paying more.

A fixed rate home loan protects borrowers against rising rates. You lock in a rate with your lender, and then for the duration of that term your rate stays the same.

Unfortunately a side effect of this is that a fixed rate home loan is less flexible and has extra fees compared to its variable rate cousin.

Fixed rate home loans can come with expensive break fees if you decide to leave the loan early.

They’ll also usually be missing features like 100% offset accounts. If they allow you to make additional repayments these will usually be capped off at somewhere between $10,000 - $30,000 a year, rather than unlimited like most variable rate home loans.

What types of three-year fixed rate home loans are available?

Just like regular variable rate loans, fixed rate home loans come in a range of different types, with these types aimed at different borrowers. It’s important to note too, that three year fixed rate home loans also come in low doc variants to suit those who are self employed, as well as bad credit variants. Keep in mind that these two types of fixed rate home loans might come with higher fees or rates, so ensure you carry out a comparison before applying.

No frills home loan

These are also known as basic home loans, and offer minimal features, meaning you may not be able to enjoy an offset account, redraw facility or extensive access options. Because of this, the lender is able to offer lower rates, and in some cases, lower fees.

Package home loan

Package home loans involve you moving all of your banking over to your lender. This means your credit cards, insurance, savings accounts and transaction accounts. In return for doing this you usually receive fee waivers on your home loan and credit card, discounts off your premium and bonus interest on your savings accounts. You also generally receive a discounted fixed rate. One of the negatives of this type of loan is that you'll usually have to pay an annual fee.

Full-featured home loan

This type of loan sits between no frills and package home loans. It's usually offered with a range of features such as offset accounts and the ability to make additional repayments. It also comes with a range of fees such as application, settlement, legal and valuation fees. Keep in mind, though, that many fixed rate home loans lack these features.

How to compare three year fixed rate home loans

A three year fixed rate home loan can be compared using the same factors as a regular home loan, but there are a few additional points to consider.
3 year fixed rate home loans

  • Rate - The interest rate isn’t always the most important indication of whether or not a home loan is the best choice for you, but it will have a large bearing on how expensive your repayments will be. Also, keep in mind that the advertised interest rate will not take fees into account, so take a look at the comparison rate too.
  • Ability to make additional repayments - This won’t be important for all borrowers, but keep in mind that not all fixed rate home loans will allow you to make additional repayments. The ones that do may come with an annual limit, so if you think you’ll be making additional repayments during the year, ensure that your loan will allow you to.
  • Fees - Compare the establishment, valuation, legal and other upfront costs when comparing three year fixed rate home loans. If the loan you’re interested in applying for is a package home loan these are generally waived and an annual fee is charged, so it’s worth looking into this.
  • Other features - These may be important depending on what you plan to do with your home loan. These include interest-only repayment options, and the maximum length of the interest-only period; offset accounts and whether they’re 100% or partial offset accounts; and what repayment options the lender will give you.

Watch: Should you go with a fixed or variable rate?

Pros and cons of a three-year fixed rate home loan

Pros

  • Consistent repayments- With a three-year fixed rate mortgage, you can benefit from the security of having consistent repayments, which means you don't have to worry about interest rate rises.
  • Additional repayments - Many fixed rate home loans today still allow you to make extra payments, although these may be limited to amounts between $10,000 - $30,000 a year.
  • Loan term- Even if you decide that fixed rate home loans aren’t for you, or rates are cut significantly, in three years you’ll be able to change your rate to a variable rate, or a different fixed rate option which means you aren't locked in for an extended period of time.

Cons

  • Interest rate drop - If lenders start dropping interest rates, your rate will stay the same, meaning you won’t be able to benefit from making lower repayments.
  • Discharge fees - Unlike other home loans in Australia, fixed rate home loans still charge discharge fees. These can be quite expensive depending on a number of factors.

Frequently asked questions about home loans fixed for three years

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Home Loan Offers

Important Information*
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

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

A competitive interest rate home loan with interest only options. Interest rate 3.64% p.a.
comp rate of 3.66% p.a.

Tic:Toc Live in Loan Variable Rate - Principal & Interest

Get a very low interest rate and pay fewer fees. Enjoy a fast online application process and add a 100% offset account for $10 a month.

HSBC Home Value Loan - (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.

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6 Responses

  1. Default Gravatar
    GregJuly 8, 2015

    How is your comparison rate calculated?

    • Default Gravatar
      JodieJuly 8, 2015

      Hi Greg,

      Thank you for your comment on finder.com.au, a financial comparison website.

      All comparison rates are calculated by each individual financial institution and they each may have different ways of calculating them. Generally they are calculated with upfront and ongoing fees using the example of $150K over 25 years.

      Read our page on the importance of comparison rates when comparing home loans.

      For further information on a particular rate you will need to contact the lender directly.

      Regards
      Jodie

    • Default Gravatar
      GregJuly 8, 2015

      Thanks, however, if there is no standard method for all lenders to calculate comparison rates, and if as you state they all use different methods then the whole intent of comparison rates is lost??

    • Default Gravatar
      JodieJuly 8, 2015

      Hi Greg,

      Lenders are the people who know how exactly each they work out the comparison rate for any one product as there are multiple factors that are not static across all borrowing needs, lenders and products.

      In general they are calculated with upfront and ongoing fees using the example of $150K over 25 years (or similar), but if you would like further information about a particular comparison rate I would suggest contacting the lender advertising it.

      As mentioned on our Australian Home Loan Comparison Rates page comparison rates were introduced as a way to make lenders accountable for advertising the actual cost of a loan rather than luring borrowers with a low-interest rate then having possible higher fees or charges attached.

      Regards
      Jodie

  2. Default Gravatar
    anneNovember 2, 2013

    which banks the lowest fix 3 years home loan

    • finder Customer Care
      MarcNovember 4, 2013Staff

      Hello Anne,
      thanks for the question.

      Out of the lenders we compare you can find the lowest three year fixed rate by clicking the ‘interest rate p.a.’ sorter in the table above so it sorts the smallest rates first. We try to include as many loans as we can, but do not compare every product, so keep this in mind.

      Remember that the lowest rate isn’t always the best loan. Take into account features such as the ability to make additional repayments, offset accounts, redraw facilities and more.

      I hope this helps,
      Marc.

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