Compare 5 Year Fixed Rate Home Loans

Rates and fees last updated on

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 August 18th, 2017.

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

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

Interest rate now 4.39%

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 - 5 Year Fixed (Owner Occupier Special Rate, P&I)
A 5 year fixed home loan with a low interest rate for owner occupiers.
4.24% 4.75% $0 $0 p.a. 95% Go to site More info
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.
3.99% 4.46% $0 $375 p.a. 85% Go to site More info
NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier P&I)
A competitive loan with flexible features. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.59% 5.01% $0 $395 p.a. 95% 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.
4.09% 4.25% $0 $0 p.a. 85% Go to site More info
ANZ Breakfree Package Home Loan - 5 Year Fixed (Owner Occupier, P&I)
A discounted rate and fee waivers are available with this loan.
4.49% 5.03% $0 $395 p.a. 95% Enquire now More info
4.69% 5.14% $600 $8 monthly ($96 p.a.) 95% Go to site More info
ANZ Fixed Rate Home Loan - 5 Year Fixed (Owner Occupier, P&I)
Borrow up to 80% of your home loan value.
4.64% 5.07% $600 $10 monthly ($120 p.a.) 95% Enquire now More info
4.54% 5.08% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
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!
4.44% 5.06% $600 $10 monthly ($120 p.a.) 95% Enquire now More info
Citibank Fixed Rate Loan - 5 Year Fixed Rate (Owner Occupier, P&I)
A competitive fixed interest rate, borrow from a mininum of $50K to $4M.
4.59% 5.35% $399 $8 monthly ($96 p.a.) 90% Enquire now More info
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.
4.69% 5.20% $295 $12 monthly ($144 p.a.) 90% More info
Westpac Fixed Options Home Loan Premier Advantage Package - 5 Years, P&I
A competitive interest rate with a host of other discounts on Westpac products.
4.19% 4.83% $0 $395 p.a. 95% Enquire now More info
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.
6.84% 7.22% $1,500 $12 monthly ($144 p.a.) 70% Enquire now More info
Heritage Bank Fixed Rate Home Loan - 5 Year Fixed Rate (Owner Occupier) New Customers Only
A fixed rate home loan which allows extra repayments to be made.
4.49% 5.01% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
AMP SuperEdge Loan - 5 Year Fixed Rate, P&I
Pay no application fee with AMP SuperEdge Fixed rate home loan.
5.89% 6.39% $0 $10 monthly ($120 p.a.) 50% Enquire now More info
Commonwealth Bank Wealth Package Fixed Home Loan - 5 Year Fixed (Owner Occupier) P&I
A competitive interest rate with a range of repayment choices.
4.39% 4.99% $0 $395 p.a. 95% Enquire now More info

1 year fixed rate home loans

Rates last updated August 18th, 2017.

Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year, P&I

Comparative rate increases by 0.08%

October 10th, 2016

UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier)

Comparison rate increases by 0.10%

December 2nd, 2016

NAB Tailored Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier P&I)

Comparative rate decreases by 0.01% | Interest rate decreases by 0.10%

January 16th, 2017

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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.
3.49% 4.47% $0 $375 p.a. 85% Go to site More info
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier)
Refinance with UBanks low 1 year fixed rate offer. No application fee.
3.69% 4.15% $395 $0 p.a. 80% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Standard Rate, P&I)
Investors can take advantage of a short term fixed rate with no application or ongoing fees.
3.94% 4.98% $0 $0 p.a. 95% Go to site More info
NAB Tailored Fixed Rate Home Loan - 1 Year Fixed (Owner Occupier P&I)
Enjoy a low rate fixed home loan with the ability to borrow up to 95% of the property value. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.99% 5.25% $600 $8 monthly ($96 p.a.) 95% Go to site More info
Commonwealth Bank Fixed Rate Home - 1 Year Fixed Rate (Owner Occupier, P&I)
A 1 year fixed rate home loan from Commonwealth Bank.
4.14% 5.26% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
Citibank Fixed Rate Loan - 1 Year Fixed Rate (Owner Occupier, P&I)
A competitive fixed interest rate with an international bank.
4.09% 5.65% $399 $8 monthly ($96 p.a.) 90% Enquire now More info
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!
4.14% 5.28% $600 $10 monthly ($120 p.a.) 95% Enquire now More info
Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year, P&I
Secure a low fixed rate offer plus low ongoing fee.
3.99% 4.96% $0 $395 p.a. 95% Enquire now More info
ANZ Breakfree Package Home Loan - 1 Year Fixed (Owner Occupier, P&I)
A competitive package home loan with 100% offset account.
3.99% 5.07% $0 $395 p.a. 95% Enquire now More info
Westpac Fixed Rate Investment Property Loan - 1 Year Fixed Rate, P&I
A competitive fixed rate home loan with extra repayments available.
4.39% 5.79% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
BankSA Super Fund Home Loan - 1 Year Fixed, P&I
Borrow from $100000 up to $2000000.
5.99% 6.72% $1,500 $12 monthly ($144 p.a.) 70% Enquire now More info
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.
6.44% 7.25% $1,500 $12 monthly ($144 p.a.) 70% Enquire now More info

2 year fixed rate home loans

Rates last updated August 18th, 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, P&I)
Owner-occupiers can lock in a competitive rate with no ongoing fees. Conditions apply.
3.74% 4.85% $0 $0 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I) First Home Buyer Special
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.69% 4.86% $0 $395 p.a. 90% Go to site More info
Select Encompass Credit Union Special Offer 2 Year Fixed Rate Home Loan
A fixed rate loan with limited fees and a competitive interest rate.
3.74% 4.15% $0 $0 p.a. 95% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 2 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
3.69% 4.45% $0 $375 p.a. 85% Go to site More info
ME Flexible Home Loan Fixed - 2 Year Fixed Rate (Owner Occupier, P&I)
No application or ongoing fees and a competitive 2 year fixed rate.
3.74% 4.81% $0 $0 p.a. 95% Go to site More info
Aussie Select Basic Fixed Rate Home Loan - 2 Year Fixed LVR up to 80% (Owner Occupier)
Fix a low rate home loan for 2 years with Aussie Home Loans.
3.99% 3.84% $0 $0 p.a. 80% Enquire now More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Standard Rate, P&I)
Enjoy a low interest rate and borrow up to 95% (with LMI) of your property's value.
3.94% 4.88% $0 $0 p.a. 95% Go to site More info
NAB Tailored Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier P&I)
A fixed rate home loan with additional repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.98% 5.13% $600 $8 monthly ($96 p.a.) 95% Go to site More info
Citibank Fixed Rate Loan - 2 Year Fixed Rate (Owner Occupier, P&I)
A 2 year fixed home loan with a low interest rate.
4.09% 5.51% $399 $8 monthly ($96 p.a.) 90% Enquire now More info
ANZ Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I)
Flexible repayment options to help you save.
4.03% 5.08% $600 $10 monthly ($120 p.a.) 95% Enquire now More info
Citibank Mortgage Plus Fixed Rate - 2 Year Fixed Rate (Owner Occupier, P&I)
A two year fixed rate with no application fee and a high maximum LVR.
4.09% 4.59% $0 $350 p.a. 90% Enquire now More info
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 cashback available for refinancers. Conditions apply.
3.99% 4.98% $0 $395 p.a. 95% Enquire now More info
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years, P&I
Lock in a discounted fixed rate with a low service fee.
3.99% 4.90% $0 $395 p.a. 95% Enquire now More info
Commonwealth Bank Fixed Rate Home - 2 Year Fixed Rate (Owner Occupier, P&I)
Peace of mind for two years with a fixed interest rate.
4.14% 5.16% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
BankSA Super Fund Home Loan - 2 Year Fixed, P&I
A rate locked in for 2 years on your SMSF property.
5.99% 6.67% $1,500 $12 monthly ($144 p.a.) 70% Enquire now More info
Westpac Fixed Options Home Loan - 2 Years, P&I
A fixed rate with redraw facility and portability options.
4.19% 5.18% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
4.59% 5.57% $200 $0 p.a. 0% Enquire now More info

3 year fixed rate home loans

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Loan purpose
Offset account
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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, P&I)
A limited time fixed rate home loan with extra repayment abilities. Conditions apply.
3.79% 4.75% $0 $0 p.a. 95% Go to site More info
3.79% 4.07% $500 $0 p.a. 95% Go to site More info
Community First Fixed Home Loan - 3 Years Fixed Owner Occupier special offer (New Loans only)
A limited time fixed rate special with no monthly or annual fees plus a 100% offset account.
3.89% 4.97% $600 $0 p.a. 95% Go to site More info
Tic:Toc Live in Loan Fixed Rate - 3 Years (Owner Occupier)
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
4.32% 3.85% $0 $0 p.a. 80% Go to site More info
NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier P&I)
Receive discounts on interest rates with the Choice Package. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.94% 4.84% $0 $395 p.a. 95% Go to site More info
ME Flexible Home Loan Fixed - 3 Year Fixed Rate (Owner Occupier, P&I)
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.99% 4.77% $0 $0 p.a. 95% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 3 Years Fixed (Standard Rate, P&I)
Split your loan for free with one of the lowest fixed home loan rates.
3.99% 4.80% $0 $0 p.a. 95% Go to site More info
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier)
A competitive refinance offer on a 3 year fixed rate.
3.99% 4.08% $395 $0 p.a. 80% 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.
3.74% 4.42% $0 $375 p.a. 85% Go to site More info
NAB Tailored Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier P&I)
Flexible fixed rate home loan which will allow you to take break from repayments if you're ahead of scheduled repayments.
4.04% 5.05% $600 $8 monthly ($96 p.a.) 95% 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 More info
Auswide Bank Fixed Home Loan Plus with Freedom Package - 3 Year Fixed $150k to $249k LVR <= 90% (Owner Occupier)
Lock in rate for 3 years and enjoy a discounted home loan interest rates on your loan of $150,000 -$249,000.
4.09% 4.98% $0 $395 p.a. 90% Enquire now More info
Commonwealth Bank Fixed Rate Home - 3 Year Fixed Rate (Owner Occupier, P&I)
A fixed rate home loan offer from Commonwealth Bank.
4.14% 5.07% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
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.
4.38% 5.21% $295 $12 monthly ($144 p.a.) 90% More info
Citibank Mortgage Plus Fixed Rate - 3 Year Fixed Rate (Owner Occupier, P&I)
A competitive fixed interest rate for three years.
4.29% 4.63% $0 $350 p.a. 80% Enquire now More info
Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier, P&I)
Principal and Interest or Interest only terms, lock in a 3 year fixed rate.
4.39% 5.42% $300 $10 monthly ($120 p.a.) 95% Enquire now More info
St.George Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier, P&I)
Redraw facility and interest-only repayments available.
4.09% 5.08% $600 $10 monthly ($120 p.a.) 95% Enquire now More info
Westpac Fixed Options Home Loan - 3 Years, P&I
Ability to make extra repayments during the fixed term and access the money through redraw.
4.19% 5.09% $600 $8 monthly ($96 p.a.) 95% Enquire now More info
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.
4.09% 5.00% $600 $8 monthly ($96 p.a.) 95% More info
BankSA Advantage Package Home Loan - 3 Year Fixed (Owner Occupier P&I)
A 3 years fixed rate that allows borrowers to borrow from $150000 up to $10000000.
3.94% 4.90% $0 $395 p.a. 95% Enquire now More info
ANZ Breakfree Package Home Loan - 3 Year Fixed (Owner Occupier, P&I)
A competitive three year fixed rate with discounts on fees.
3.99% 4.94% $0 $395 p.a. 95% Enquire now More info
Gateway Credit Union Premium Package Home Loan - 3 Years Fixed (Owner Occupier P&I)
A competitive and flexible package product that can suit your needs.
4.05% 4.74% $0 $299 p.a. 95% Enquire now More info
ING Fixed Rate Home Loan - 3 Year Fixed Rate (Owner Occupier with Orange Advantage)
A package home loan with competitive 3 year fixed rate.
3.79% 4.48% $0 $299 p.a. 95% Enquire now More info
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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

The majority of lenders offer five-year fixed rate home loans. If a five-year fixed rate home loan is something you want, make sure you compare them above.

In Australia, the maximum length of a fixed rate mortgage, depending on the lender, is usually 10 or 15 years. Usually most smaller lenders will only offer popular fixed terms of between one and five years.

Yes, there’s also the option of having a split loan. This is where your home loan is split between both a fixed and variable scheme so you can get the best of both worlds.

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This page was last modified on 15 June 2017 at 11:54am.

Bank Australia Basic Home Loan - Variable (Owner Occupier)

A competitive variable rate that allows borrowers to borrow a minimum of $100,000 with a $0 ongoing fee.

NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I)

A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.

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.

IMB Budget Home Loan - LVR <=90% (Owner Occupier)

Get a competitive rate without features you may not use.

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