Compare 5 Year Fixed Rate Home Loans

Why a five-year fixed rate home loan could be an option to consider.

Locking in a rate for five years means your payments won't change during this time. This allows you to plan ahead by knowing exactly how much you need to repay every month. Five-year fixed rate home loans are a common type of loan and are offered by almost all lenders.

5 year fixed rate home loans

Rates last updated December 16th, 2018
$
Loan purpose
Offset account
Loan type
Repayment 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%
4.10%
$395
$0 p.a.
80%
An online only home loan with a great 5 year fixed rate. Available for refinance and purchases.
4.09%
4.53%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
4.59%
4.02%
$250
$0 p.a.
80%
Buy a home to live in and lock in the interest rate for 5 years.
4.09%
4.87%
$0
$395 p.a.
95%
A competitive fixed rate offer from one of the Big Four banks.
4.19%
4.57%
$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.
4.34%
4.99%
$600
$8 monthly ($96 p.a.)
95%
A flexible five year fixed rate home loan. Available with a 5% deposit.
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.
4.24%
4.87%
$0
$395 p.a.
95%
A competitive fixed rate loan with flexible features. Available with a 5% deposit.
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.
4.09%
4.87%
$0
$395 p.a.
95%
You can save on several Westpac products by packaging your 5-year fixed rate home loan. Unlock Velocity Points for borrowing over $250,000 and get more out of your mortgage.
4.39%
5.07%
$0
$395 p.a.
95%
A competitive interest rate with a range of repayment choices.
4.49%
4.56%
$395
$0 p.a.
80%
Forget about rate rises for 5 years and minimise repayments on your investment mortgage.
4.79%
5.41%
$0
$395 p.a.
90%
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

1 year fixed rate home loans

Rates last updated December 16th, 2018
$
Loan purpose
Offset account
Loan type
Repayment 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.
3.59%
4.14%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.75%
4.72%
$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.
3.99%
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.
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.
3.99%
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.
3.89%
4.96%
$0
$395 p.a.
95%
A low deposit, low interest fixed rate home loan with flexible repayment options.
3.99%
4.62%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
4.25%
4.18%
$0
$0 p.a.
90%
Fix your rate for a year and borrow up to 90% of your home's value.
3.84%
3.91%
$0
$0 p.a.
80%
Get instant online approval and flexible repayment options with this fixed rate mortgage for investing.
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.
4.24%
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 December 16th, 2018
$
Loan purpose
Offset account
Loan type
Repayment 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.
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.
3.89%
3.91%
$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 Velocity Frequent Flyer Points to spend on flights and hotels. Terms and conditions apply.
3.85%
4.65%
$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.
3.75%
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.
3.79%
4.87%
$0
$395 p.a.
95%
Low deposit home loan. Enjoy flexible repayment options while paying limited fees.
3.98%
5.01%
$0
$395 p.a.
90%
Fix the rate on your investment property for 2 years with this competitive home loan package.
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.
3.89%
5.12%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan with additional repayment options.
3.94%
4.95%
$595
$0 p.a.
95%
Borrow up to 95% LVR of the value of the property you're buying and pay no application or ongoing fees.
4.05%
4.22%
$0
$10 monthly ($120 p.a.)
90%
Lock in your interest rate on your investment property for 2 years. Earn Velocity Frequent Flyer Points.
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%
4.19%
$0
$350 p.a.
95%
New customers can enjoy flexible repayments and a partial offset account.
4.33%
4.21%
$0
$0 p.a.
90%
Lock in your interest rate for two years and enjoy package discounts.
3.79%
5.07%
$600
$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.
3.89%
3.91%
$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.
3.94%
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

3 year fixed rate home loans

Rates last updated December 16th, 2018
$
Loan purpose
Offset account
Loan type
Repayment 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.
3.84%
4.66%
$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.
3.84%
3.82%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
3.83%
3.67%
$250
$0 p.a.
80%
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee.
3.85%
4.69%
$0
$0 p.a.
90%
A package home loan with a sharp fixed rate and a 10% deposit option for low deposit borrowers.
3.99%
4.44%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
3.96%
3.88%
$0
$0 p.a.
80%
Lock in a 3 year fixed rate with no upfront or ongoing fees.
3.85%
4.20%
$0
$350 p.a.
95%
New customers get flexible repayments along with a redraw facility when they lock in their rate for 3 years.
4.29%
5.33%
$0
$395 p.a.
90%
Lock in a competitive investment rate and combine your loan with a credit card and transaction account for extra savings. Package fee applies.
3.83%
4.89%
$0
$395 p.a.
80%
A flexible 3 year fixed rate loan you can use to buy your own home.
3.83%
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.
3.85%
4.97%
$600
$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.
3.99%
3.94%
$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%
$0
$395 p.a.
95%
Unlock discounts on interest rates and other products with the Choice Package loan. Available with a 5% deposit.
4.04%
4.88%
$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.
4.49%
4.27%
$0
$0 p.a.
90%
Fixed rate loan with a 100% offset account and a 10% deposit option.
4.09%
5.06%
$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.
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

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What is a five-year fixed rate home loan?

A fixed rate home loan locks in your interest rate for a fixed period - in this case, five years. During the course of your term, your repayments won’t change. This is in contrast to variable interest rate home loans, which can change according to your bank's response to economic factors. A fixed rate home loan is very secure, and is ideal for those on a tight budget who can’t afford increasing monthly mortgage repayments. A five-year fixed rate home loan is also appropriate for investors who need to keep track of their cash flow.

How do these loans work?

When you sign up for a five-year fixed rate home loan, your lender will lock in the interest rate. Once the loan term ends, your loan will either revert to the lender's standard variable rate, or you'll be offered the option to fix your loan for a new period.

With fixed home loans, you generally can’t make additional repayments during the fixed term. If you are permitted to make additional repayments, these are usually limited to a certain amount per year. If you do repay your home loan within the fixed five years, you may need to pay an early repayment fee.

A look at early repayment fees

Fixed rate home loans also tend to have fewer additional features. For example, you may not get the option of a 100% offset account or a partial offset account. Some fixed home loans do offer these features, but it’s not the norm.

What are the types of five year fixed rate mortgages on offer?

Full featured home loans

Full featured home loans come with a complete range of features that may include the option to make additional repayments, or 100% offset accounts. However, these types of home loans do tend to attract higher fees, and fixed rate home loans seldom offer these features.

Package home loans

Package home loans bundle your home loan with other products such as credit cards, personal loans and savings and transaction accounts. They often carry annual maintenance fees.

Basic home loans

These home loans are your foundation home loans. They don’t have the frills and additional features that other home loans have, but they do offer very competitive rates and fees. Basic home loans are a good way to help you save money, especially if you don’t require any additional features.

Credit impaired home loans.

It can be difficult for those with a bad credit rating to be successful in their home loan applications. Fortunately, there are fixed rate home loans available for those with bad credit. You may be charged a higher rate or fee with this type of home loan to compensate for your credit risk.

Loans for the self employed

These are typically referred to as low doc home loans. Low doc home loans are designed for those who are self-employed or investors who are unable to provide the proper proof of income required in their home loan application. Low doc home loans allow you to provide less documentation, or alternate documentation for your application.

How to compare home loans

Once you have decided that a five year fixed rate home loan is right for you, there are some easy ways to compare the home loans available to help you select one that suits your needs. You should first consider your lifestyle, income and how you plan on using your home loan to help you decide what features are important to you from a home loan. Some points to use in your comparison include:

Rates

Make sure you compare both the interest rate and comparison rate to ensure you are getting a great fixed rate. The interest rate you lock in will have a direct impact on your repayments so it’s worth taking the time to compare your options and find a good rate.

Fees

It’s important to compare all the fees you may be liable for over your five-year fixed term. Fees can include rate lock fees, annual fees, establishment fees and fees for making additional repayments. Fees tend to add up so it’s important to look for a home loan with lower fees over the duration of your fixed term.

Features

Although fixed rate home loans do typically have fewer features than variable rate home loans, it is still worth comparing the features of each home loan and what they can offer you. For example, can your home loan offer you an offset account? Or redraw facility? Or can you make additional repayments?

Pros and cons of a home loan fixed for five years

Pros

  • Security in repayments. With a five-year fixed rate home loan, your repayments won't change for five years. This is much longer than most other fixed home loans and can give you extra peace of mind.
  • Easier to budget. When you know the repayments you will need to make every month for the next five years, budgeting becomes much easier. You can budget far in advance and don’t have to worry about your monthly repayments changing. If you’re budgeting for a holiday or a new car, you won’t get hit with a last minute increase in repayments.
  • Immunity from rate rises. If you’re locked into an interest rate and the RBA raises the interest rate, you will effectively have a lower interest rate than most variable home loans.

Cons

  • You'll have to stick it out for five years. Five years is quite a long time. If you were planning on selling your property or moving on, this type of home loan will not be appropriate for you. A five-year fixed rate may also not be appropriate for people fixing their home loan for the first time.
  • Discharge fees. Fixed rate home loans tend to have high discharge fees if you exit your home loan during the fixed term, so it’s important to make sure you stick with the loan during the fixed period.
  • Lack of flexibility. Fixed rate home loans tend to have less flexibility and fewer features when compared to a variable rate loan.

Things to keep in mind with five-year fixed rate home loans

With a five-year fixed rate home loan, it’s important to ensure you don’t exit the home loan during the five year fixed period to avoid exit fees. Also, it’s important not to make extra payments if your lender doesn’t permit them. Otherwise, you may again be hit with additional fees.

FAQ about five-year fixed rate home loans

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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.

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.

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 avoid big fees. Apply online for full approval in under 30 minutes and add a 100% offset account for $10 a month.

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