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Finder makes money from featured partners, but editorial opinions are our own.

Compare 3-year fixed rate home loans

For many borrowers, fixing for 3 years strikes the right balance between a competitive rate and a decent length of time. Compare 3-year fixed rate loans from across the market.

Key takeaways

  • Use the table below to compare 3-year fixed rate loans.
  • The main benefit of a 3-year fixed rate home loan is certainty: Your repayments stay the same for the first 3 years.
  • Many 3-year fixed rates are cheaper than or on par with variable rates at the moment.
$
years
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1 - 20 of 162
Name Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
loans.com.au logo
Principal & Interest 3Y Fixed10% min. depositOwner-occupierSpecial
loans.com.au logo
Principal & Interest 3Y Fixed10% min. depositOwner-occupierSpecial
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Product Nameloans.com.au Fixed
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.69%
Comp. Rate p.a.6.16%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Available up to $10,000 per year
Finder score
Interest Rate
5.69%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,902
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Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositOwner-occupier
Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositOwner-occupier
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.39%
Comp. Rate p.a.5.95%
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
Finder score
Interest Rate
5.39%
Comparison Rate
5.95%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,808
Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositInvestment
Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositInvestment
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.55%
Comp. Rate p.a.6.14%
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
Finder score
Interest Rate
5.55%
Comparison Rate
6.14%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,858
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.49%
Comp. Rate p.a.6.02%
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
Finder score
Interest Rate
5.49%
Comparison Rate
6.02%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,839
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositInvestment
Macquarie Bank logo
Principal & Interest 3Y Fixed20% min. depositInvestment
Product NameMacquarie Bank Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.65%
Comp. Rate p.a.6.25%
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
Finder score
Interest Rate
5.65%
Comparison Rate
6.25%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,890
Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositOwner-occupierOffset account
Macquarie Bank logo
Principal & Interest 3Y Fixed30% min. depositOwner-occupierOffset account
Product NameMacquarie Bank Offset Home Loan Package Fixed Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.39%
Comp. Rate p.a.6.18%
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
Finder score
Interest Rate
5.39%
Comparison Rate
6.18%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$2,808
Well Money logo
Principal & Interest 3Y Fixed40% min. depositOwner-occupierOffset account
Well Money logo
Principal & Interest 3Y Fixed40% min. depositOwner-occupierOffset account
Product NameWell Money Equity Plus
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.89%
Comp. Rate p.a.6.14%
Minimum Loan Amount$200,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Finder score
Interest Rate
5.89%
Comparison Rate
6.14%
Fees
Application: $250
Ongoing: $0 p.a.
Monthly Payment
$2,966
Great Southern Bank logo
Interest only 3Y Fixed10% min. depositInvestment
Great Southern Bank logo
Interest only 3Y Fixed10% min. depositInvestment
Product NameGreat Southern Bank Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.39%
Comp. Rate p.a.7.88%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Allows you to make $30,000 extra repayments during the fixed term
Finder score
Interest Rate
6.39%
Comparison Rate
7.88%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$3,128
Horizon Bank logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupierOffset account
Horizon Bank logo
Principal & Interest 3Y Fixed5% min. depositOwner-occupierOffset account
Product NameHorizon Bank Fixed Rate Home Loan
Interest Rate TypeFixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.54%
Comp. Rate p.a.6.31%
Minimum Loan Amount$50,000
Maximum Loan Amount $1,000,000
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
5.54%
Comparison Rate
6.31%
Fees
Application: $350
Ongoing: $0 p.a.
Monthly Payment
$2,855
NAB logo
Interest only 3Y Fixed10% min. depositInvestment
NAB logo
Interest only 3Y Fixed10% min. depositInvestment
Product NameNAB Interest Only in Advance Fixed Rate
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.14%
Comp. Rate p.a.8.44%
Minimum Loan Amount$20,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
6.14%
Comparison Rate
8.44%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,046
Virgin Money logo
Interest only 3Y Fixed30% min. depositOwner-occupier
Virgin Money logo
Interest only 3Y Fixed30% min. depositOwner-occupier
Product NameVirgin Money Reward Me Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.79%
Comp. Rate p.a.6.69%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
6.79%
Comparison Rate
6.69%
Fees
Application: $300
Ongoing: $10 per month
Monthly Payment
$3,260
MyState Bank logo
Interest only 3Y Fixed20% min. depositInvestment
MyState Bank logo
Interest only 3Y Fixed20% min. depositInvestment
Product NameMyState Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.24%
Comp. Rate p.a.7.81%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
6.24%
Comparison Rate
7.81%
Fees
Application: $450
Ongoing: $0 p.a.
Monthly Payment
$3,079
Aussie logo
Interest only 3Y Fixed10% min. depositInvestment
Aussie logo
Interest only 3Y Fixed10% min. depositInvestment
Product NameAussie Select Basic Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.60%
Comp. Rate p.a.7.06%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
6.60%
Comparison Rate
7.06%
Fees
Application: $330
Ongoing: $0 p.a.
Monthly Payment
$3,197
Commonwealth Bank logo
Interest only 3Y Fixed5% min. depositOwner-occupier
Commonwealth Bank logo
Interest only 3Y Fixed5% min. depositOwner-occupier
Product NameCommonwealth Bank Wealth Package Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.6.19%
Comp. Rate p.a.7.88%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
6.19%
Comparison Rate
7.88%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$3,063
Bank Australia logo
Interest only 3Y Fixed30% min. depositInvestment
Bank Australia logo
Interest only 3Y Fixed30% min. depositInvestment
Product NameBank Australia Basic Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.5.84%
Comp. Rate p.a.6.25%
Minimum Loan Amount$10,000
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
Finder score
Interest Rate
5.84%
Comparison Rate
6.25%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$2,950
BankSA logo
Principal & Interest 3Y Fixed10% min. depositInvestmentOffset account
BankSA logo
Principal & Interest 3Y Fixed10% min. depositInvestmentOffset account
Product NameBankSA Fixed Rate Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.8.58%
Minimum Loan Amount$0
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
6.39%
Comparison Rate
8.58%
Fees
Application: $600
Ongoing: $8 per month
Monthly Payment
$3,128
Suncorp Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Suncorp Bank logo
Principal & Interest 3Y Fixed20% min. depositOwner-occupier
Product NameSuncorp Home Package Plus Fixed
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.49%
Comp. Rate p.a.6.67%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
6.49%
Comparison Rate
6.67%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,160
QBank logo
Principal & InterestInterest only 3Y Fixed2% min. depositOwner-occupier
QBank logo
Principal & InterestInterest only 3Y Fixed2% min. depositOwner-occupier
Product NameQBANK Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest Interest Only
Interest Rate p.a.5.79%
Comp. Rate p.a.7.43%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 98%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
5.79%
Comparison Rate
7.43%
Fees
Application: $700
Ongoing: $0 p.a.
Monthly Payment
$2,934
Newcastle Permanent logo
Interest only 3Y Fixed20% min. depositInvestment
Newcastle Permanent logo
Interest only 3Y Fixed20% min. depositInvestment
Product NameNewcastle Permanent Premium Plus Package Fixed Rate
Interest Rate Typefixed rate
Repayment Type Interest Only
Interest Rate p.a.5.69%
Comp. Rate p.a.7.74%
Minimum Loan Amount$5,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
Interest Rate
5.69%
Comparison Rate
7.74%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,902
Australian Mutual Bank logo
Principal & Interest 3Y Fixed5% min. depositInvestment
Australian Mutual Bank logo
Principal & Interest 3Y Fixed5% min. depositInvestment
Product NameAustralian Mutual Bank Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.59%
Comp. Rate p.a.6.63%
Minimum Loan Amount$0
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityNo
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
5.59%
Comparison Rate
6.63%
Fees
Application: $250
Ongoing: $0 p.a.
Monthly Payment
$2,871
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What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

Nicole-Pedersen-McKinnon
This article was fact-checked and reviewed by , an accredited and award-winning finance broker and industry mentor. Content has been updated for 2022.

Why should I fix my home loan rate for 3 years?

Three years is a long time, but not when you consider most home loans have 30-year terms. Three-year fixed rate loans appeal to some borrowers for the following reasons:

  • Repayment certainty. Knowing your repayments won't change for 3 years means you can budget for your repayments and not get caught by rising rates.
  • Forget about rate rises. Borrowers on variable rate home loans know that their home loan rate could rise at any time. With fixed rate loans you don't have to worry. For some borrowers this peace of mind is worth getting a slightly higher rate.
  • Finding the right balance. Fixing for a short time means a locked-in interest rate, but fix for too long and you might have to pay an expensive break fee if you need to refinance or exit the loan. Anyone can get interest rate expectations wrong and you could be locked in for a longer term, paying over the odds. For some borrowers the 3-year fixed option is the perfect balance.

How do 3-year fixed rate home loans work?

A 3-year fixed rate home loan is like any other home loan: you borrow money and repay it over the loan term. But for the first 3 years of the loan your repayments will stay the same every month.

After the fixed period, your loan reverts to a variable rate loan. Variable interest rate home loans can change at any time as lenders respond to changes in money markets and the overall economy.

Most lenders offer fixed rates between 1 and 5 years. Learn more about different fixed periods with these guides:

Are 3-year fixed rate loans higher than variable rate loans?

While 3-year fixed rate home loans are usually higher than comparable variable rate home loans, many lenders have been cutting their fixed rates lately. Experts are predicting interest rates will start to fall in late 2024 or 2025, so borrowers are less likely to fix their rates at the moment. Many banks and lenders are responding to this by making their fixed rates lower than their variable rates.

3-year fixed interest rates are currently some of the lowest on the market.

Is it too late to lock in a low 3-year fixed rate?

A fixed rate loan is more about certainty than getting the lowest possible deal, especially now that fixed rates are higher. It's not necessarily too late, if your goal is to focus on peace of mind rather than getting the lowest and cheapest possible rate.

You can see the current difference between fixed and variable rates on our average interest rates guide.

"At the peak of the government's stimulus package during Covid when interest rates were at rock bottom, I, along with millions of Australians, decided to fix my mortgage rate for as long as I could. It turned out to be a wise choice given how quickly rates rose soon after. By my calculations, I have easily saved more than $10,000 with that decision. The fact of the matter is that no one is 100% sure what the future holds, even the most seasoned bankers and economists can get it wrong sometimes. Whether or not to fix a home loan rate depends purely on your own personal outlook of where you think rates will be in the future and what your circumstances are. If you get it right, it can pay off quite handsomely."

Jack K
Finder crew member

How do I compare 3-year fixed rate home loans?

To make sure you get a great deal on a 3-year fixed rate loan, pay attention to the rate, the fees and the loans' features.

Focus on the following:

Interest rate

Get a lower rate

Even if fixed rates are higher than variable, it's important to compare multiple 3-year fixed rates to find a good deal. Why pay more interest for no reason?

Fees

Get a loan with low fees

Some home loans have lots of fees and others have none. A lower interest rate is more important, but the fewer the fees, the cheaper the loan will be.

Features

Loan features

Fixed rate loans have fewer features than variable rate loans, like 100% offset accounts or the ability to make extra repayments. But some do, so it's worth comparing.

What kind of 3-year fixed rate home loans are available?

3-year fixed rate loans are a common home loan type. Both owner-occupiers and investors have a lot of loans to choose from.

Beyond the standard fixed rate principal-and-interest home loans, borrowers can also consider:

  • Fixed rate package home loans.
  • Fixed rate interest-only investor loans.
  • Low deposit fixed rate home loans.
  • Bad credit fixed rate home loans.

More questions about fixing your home loan rate for 3 years?

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Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 544 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

More guides on Finder

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6 Responses

    Default Gravatar
    GregJuly 8, 2015

    How is your comparison rate calculated?

      Default Gravatar
      JodieJuly 8, 2015

      Hi Greg,

      Thank you for your comment.

      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.

      You may read our comparison rate guide on the importance of comparison rates when comparing home loans.

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

      I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      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 they work out the comparison rate for any 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, this is 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.

      I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      Regards
      Jodie

    Default Gravatar
    anneNovember 2, 2013

    which banks the lowest fix 3 years home loan

      AvatarFinder
      MarcNovember 4, 2013Finder

      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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