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 April 25th, 2019
$
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%
4.17%
$0
$0 p.a.
90%
A low-fee fixed rate home loan with a redraw facility. NSW, QLD and ACT residents only.
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%
4.84%
$600
$8 monthly ($96 p.a.)
95%
A 5-year fixed rate that allows for extra 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%
4.62%
$499
$0 p.a.
95%
Get the certainty of a rate lock and the flexibility to make additional repayments.
4.29%
4.12%
$0
$0 p.a.
80%
A 5 year fixed home loan with a low interest rate for owner occupiers.
4.39%
5.06%
$0
$395 p.a.
95%
Fix in a competitive rate for five years and pay no establishment or monthly fees.
4.69%
4.23%
$499
$0 p.a.
80%
Fix your rate for 5 years while you pay off your investment property. Add an offset account for just $10 a month.
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.
3.99%
4.50%
$0
$395 p.a.
90%
Get the security of knowing your repayments with this 5 year fixed rate package home loan.
4.56%
4.18%
$0
$0 p.a.
85%
This fixed rate investment loan has a competitive interest rate, limited fees and flexible repayment options. Apply online and get quick approval. $1,000 cashback offer.
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.
3.79%
3.80%
$0
$0 p.a.
70%
Lock in a competitive fixed interest rate for 5 years when you buy your home. Requires a 30% deposit.
4.09%
4.95%
$0
$395 p.a.
95%
A competitive interest rate with a range of repayment choices.
4.46%
4.08%
$0
$0 p.a.
90%
Get quick online approval for Tic:Toc's fixed rate owner occupier home loan. Low fees, flexible repayments. $1,000 cashback offer.
4.69%
4.64%
$395
$0 p.a.
80%
Forget about rate rises for 5 years and minimise repayments on your investment mortgage.
4.19%
4.97%
$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 April 25th, 2019
$
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.
3.64%
4.63%
$300
$10 monthly ($120 p.a.)
90%
Low fixed rate loan for home buyers. Available with a 10% deposit. 100% offset account attached.
3.59%
3.58%
$0
$0 p.a.
90%
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. $1,000 cashback offer.
3.49%
4.58%
$0
$395 p.a.
90%
Loans over $150000 get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
3.59%
4.14%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.94%
3.94%
$0
$0 p.a.
90%
Lock in a short interest loan term with a low interest rate.
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%
3.93%
$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.
3.49%
4.37%
$0
$0 p.a.
90%
A discounted 1 year fixed rate for home buyers that's available with a 10% deposit. NSW, QLD and ACT residents only.
4.19%
4.64%
$395
$0 p.a.
80%
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
3.94%
4.67%
$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.
3.89%
4.86%
$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%
4.28%
$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 April 25th, 2019
$
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%
4.54%
$300
$10 monthly ($120 p.a.)
90%
Home buyers can lock in a very competitive fixed interest rate for 2 years.
3.69%
3.79%
$0
$0 p.a.
70%
Get a low fixed rate for 2 years to minimise interest costs. Requires a 30% deposit.
3.68%
3.77%
$0
$10 monthly ($120 p.a.)
90%
Low fixed rate mortgage that lets new home buyers borrow up to 90%. For a limited time, eligible borrowers can earn double Velocity points.
4.09%
3.94%
$0
$248 p.a.
80%
Fixed rate home buyer product with very low fees.
3.89%
5.24%
$300
$10 monthly ($120 p.a.)
90%
A flexible, competitive fixed rate loan that allows for extra repayments.
3.99%
3.96%
$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%
4.18%
$500
$0 p.a.
95%
Apply for Easy Street fixed rate home loans and get a competitive loan with a fixed interest rate.
3.89%
4.90%
$0
$0 p.a.
80%
Get a low fixed rate and pay no application or ongoing fees.
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.
3.74%
4.16%
$0
$350 p.a.
95%
New customers can enjoy flexible repayments and a partial offset account.
3.89%
5.55%
$0
$395 p.a.
90%
Get 5-15% discounts on insurance products with this package loan from CommBank. Available with a 10% deposit.
3.74%
4.56%
$0
$395 p.a.
90%
A fixed rate loan with a 100% offset account and the option to make additional repayments. Loans over $150000 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.
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.
3.74%
5.03%
$600
$8 monthly ($96 p.a.)
95%
Get a partial offset account and the option to make interest-only repayments.
3.89%
3.91%
$0
$0 p.a.
85%
Lock in your interest rate for 2 years and enjoy flexibility, an optional offset account and a fast online application process. $1,000 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

3 year fixed rate home loans

Rates last updated April 25th, 2019
$
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.
3.59%
3.89%
$0
$0 p.a.
80%
Get a very low fixed rate with minimal fees and lock in your repayments for three years.
3.69%
4.48%
$300
$10 monthly ($120 p.a.)
90%
This fixed rate loan includes a special offer for new lending of $150000 with an LVR of 90% or less. Offer extended.
3.69%
3.78%
$0
$0 p.a.
70%
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit.
3.74%
4.49%
$445
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online.
3.74%
4.27%
$0
$0 p.a.
90%
Discounted 3 years fixed rate with no ongoing fees and a redraw facility. NSW, QLD and ACT residents only.
3.89%
3.93%
$0
$0 p.a.
80%
Pay no application or ongoing fee and borrow up to 80% LVR.
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.
3.84%
3.82%
$0
$0 p.a.
90%
A fixed rate loan with free redraws and limited fees. Apply online with a fast approval process. $1,000 cashback offer.
3.74%
4.01%
$395
$0 p.a.
80%
A competitive 3 year fixed rate with no ongoing bank fees.
3.79%
4.31%
$0
$395 p.a.
80%
3.89%
3.91%
$0
$0 p.a.
85%
Apply online with Tic:Toc's fast approval system and get this competitive fixed rate, low-fee loan for investors. $1,000 cashback offer.
3.69%
3.90%
$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.
3.99%
5.02%
$0
$395 p.a.
95%
Pay no application fee and fix your interest for 3 years with this ANZ package home loan.
3.85%
4.98%
$0
$395 p.a.
95%
Borrow up to 95% LVR (subject to approval) and fix your interest repayments for the next 3 years.
3.85%
4.40%
$0
$395 p.a.
95%
4.19%
4.49%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
3.96%
3.99%
$0
$0 p.a.
80%
Lock in a 3 year fixed rate with no upfront or ongoing fees.
3.79%
4.17%
$0
$350 p.a.
95%
New customers get flexible repayments along with a redraw facility when they lock in their rate for 3 years.
3.79%
4.98%
$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.
3.74%
4.52%
$0
$395 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.79%
4.92%
$600
$8 monthly ($96 p.a.)
95%
Fix your rate and enjoy a partial offset account along with flexible repayments.
3.94%
4.82%
$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.
85%
Buy an investment property and enjoy the certainty of a 3-year fixed rate with interest-only payments. $1,000 cashback offer.
4.29%
4.30%
$0
$0 p.a.
95%
A competitive 3-year fixed rate loan with a high max insured LVR.
3.99%
4.44%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
3.94%
5.13%
$600
$8 monthly ($96 p.a.)
95%
A fixed rate home loan offer from Commonwealth Bank.

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.

Athena Variable Home Loan - Refinance (Owner Occupier, P&I)

Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.

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.

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