Fixed versus variable home loan: Which is right for you?

There are two types of home loan interest rate, variable and fixed. They work slightly differently:

• Variable interest rates can change at any time (up or down) and tend to offer slightly lower rates and more repayment flexibility.
• Fixed interest rates cannot go up (or down) for the fixed period (usually 1-5 years) but often have more fees and less flexibility.

Most Australian borrowers go for variable rate loans. Most of the time, these rates are lower than fixed rates (although in the last few years some fixed rates were lower). And their flexibility is important. Variable rate loans are much more likely to allow you to make extra repayments, letting you get out of debt faster. If you want to exit or refinance a fixed rate loan, you may get hit with some big fees.

But for a borrower who wants to know exactly what their repayments will be and lock in a good deal right now, fixing is definitely a strategy to consider.

Variable versus fixed interest rates: what's the difference?

When the fixed period on a home loan ends, it reverts to a variable rate. As most home loans have 30-year terms, even if you do fix your rate for a few years, most of your loan will end up being variable anyway.

Which rate type is right for you?

The real question is what do you want from your home loan. This helps you decide which rate type suits you best. Here are some examples to help you think about your own situation.

• I want to know exactly what my repayments are each month. You might want to go with a fixed rate loan. With the certainty of an unchanging rate you can budget safe in the knowledge that your repayments won't vary. This means you can basically forget about your home loan for the fixed period.
• I want the lowest possible rate and I'm happy to switch lenders. Go with a variable loan (probably). Variable rates are usually more competitive than fixed rates, although that's not always the case. But if you're a deal hunter who's always after a lower rate and is happy to compare and refinance regularly, then a variable mortgage probably gives you more options and is easier to refinance.
• I want to repay my loan as quickly as possible. In this case you want the lowest interest rate and a mortgage which allows for extra repayments. This is more likely a variable rate but some fixed rate loans allow extra repayments too.
• I may need to refinance my loan soon or sell my property. If you think you're likely to exit a home loan soon, either by repaying it, selling the house or refinancing for some other reason, you probably want a variable rate loan. This is because a fixed rate loan has break costs that can run to thousands of dollars.

If you still can't decide which rate type is right for you, there's a third option.

The third option: Split rates

If you really like the idea of fixing your interest rate, but you don't want to lose the flexible features available on your variable loan, you can choose to split your home loan. A split rate home loan is when you divide your loan into two (or more) portions; one locked into a fixed rate and the other variable.

This lets you enjoy some of the advantages of both rate types at the same time.

Compare fixed, variable and split rate loans

• Variable rates
• Fixed rates
• Split rates

Compare variable rate loans

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Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupierRefinance Only Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupierRefinance Only Go to site Details Fees Pros & cons Product Name Unloan Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.99% Comp. Rate p.a. 5.90% Minimum Loan Amount $10,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros A competitive variable rate home loan Automatic interest rate discount No lender fees Cons No offset account You can’t borrow more than 80% of the property value, even with a first home buyer scheme Unloan doesn’t offer fixed rates or interest only loans	Interest Rate 5.99%	Comparison Rate 5.90%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $900	Go to site Compare
Bendigo Bank Express Variable Home Loan Principal & Interest10% min. depositOwner-occupierOffset account Bendigo Bank Express Variable Home Loan Principal & Interest10% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Bendigo Bank Express Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.01% Comp. Rate p.a. 6.14% Minimum Loan Amount $5,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility No Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $134.20 to $440, depending on valuation type & property value Ongoing Fees $10 monthly ($120 p.a.) Settlement Fee Discharge Fee $350 Pros Borrowers can use as little as a 10% deposit Loan amount from $5,000 to $3 million Extra repayments available Full offset account available for variable loans, partial offset for fixed loans Cons Monthly ongoing fee of $10 Exit fees and switching fees applicable Late payment fee of $35 You are not eligible for this loan if you’re buying outside a capital city or major regional centre	Interest Rate 6.01%	Comparison Rate 6.14%	Fees Application: $0 Ongoing: $10 per month	Monthly Payment $902	Go to siteMore Info Compare
Unloan Variable Home Loan Principal & Interest20% min. depositInvestmentRefinance Only Unloan Variable Home Loan Principal & Interest20% min. depositInvestmentRefinance Only Go to site Details Fees Pros & cons Product Name Unloan Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.29% Comp. Rate p.a. 6.20% Minimum Loan Amount $10,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros A competitive variable rate home loan Automatic interest rate discount No lender fees Cons No offset account You can’t borrow more than 80% of the property value, even with a first home buyer scheme Unloan doesn’t offer fixed rates or interest only loans	Interest Rate 6.29%	Comparison Rate 6.20%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $929	Go to site Compare
Macquarie Bank Basic Home Loan Principal & Interest40% min. depositOwner-occupier Macquarie Bank Basic Home Loan Principal & Interest40% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.16% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros $0 application and ongoing fees. Interest only options available. Fee free redraws of extra repayments made. Cons No offset account available. $400 discharge fee when you close your home loan.	Interest Rate 6.14%	Comparison Rate 6.16%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $914	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest20% min. depositInvestmentOffset account Macquarie Bank Offset Home Loan Package Principal & Interest20% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.45% Comp. Rate p.a. 6.70% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.45%	Comparison Rate 6.70%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $945	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.39% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee at cost above $300 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.14%	Comparison Rate 6.39%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $914	Go to site Compare
Macquarie Bank Basic Home Loan Principal & Interest40% min. depositInvestment Macquarie Bank Basic Home Loan Principal & Interest40% min. depositInvestment Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.34% Comp. Rate p.a. 6.36% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros $0 application and ongoing fees. Interest only options available. Fee free redraws of extra repayments made. Cons No offset account available. $400 discharge fee when you close your home loan.	Interest Rate 6.34%	Comparison Rate 6.36%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $934	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositInvestmentOffset account Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.34% Comp. Rate p.a. 6.59% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.34%	Comparison Rate 6.59%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $934	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositInvestmentOffset account Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.34% Comp. Rate p.a. 6.59% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.34%	Comparison Rate 6.59%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $934	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest20% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest20% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.19% Comp. Rate p.a. 6.44% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.19%	Comparison Rate 6.44%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $919	Go to site Compare
Macquarie Bank Basic Home Loan Principal & Interest20% min. depositInvestment Macquarie Bank Basic Home Loan Principal & Interest20% min. depositInvestment Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.45% Comp. Rate p.a. 6.48% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros $0 application and ongoing fees. Interest only options available. Fee free redraws of extra repayments made. Cons No offset account available. $400 discharge fee when you close your home loan.	Interest Rate 6.45%	Comparison Rate 6.48%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $945	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.39% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.14%	Comparison Rate 6.39%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $914	Go to site Compare
Macquarie Bank Basic Home Loan Principal & Interest20% min. depositOwner-occupier Macquarie Bank Basic Home Loan Principal & Interest20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.19% Comp. Rate p.a. 6.21% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee at cost above $300 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros $0 application and ongoing fees. Interest only options available. Fee free redraws of extra repayments made. Cons No offset account available. $400 discharge fee when you close your home loan.	Interest Rate 6.19%	Comparison Rate 6.21%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $919	Go to site Compare
Greater Bank Great Rate Discount Variable Home Loan Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only Greater Bank Great Rate Discount Variable Home Loan Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only Go to site Details Fees Pros & cons Product Name Greater Bank Great Rate Discount Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.04% Comp. Rate p.a. 6.05% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 110% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees Settlement Fee $180 Discharge Fee $300 Pros $0 application fee LVR of up to 110% with guarantor Cons Requires a family guarantee Not suitable for all borrowers	Interest Rate 6.04%	Comparison Rate 6.05%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $905	Go to site Compare	Up to $2,500 cashback Eligible refinancers can get up to $2,500 cashback depending on loan value. Full terms and conditions apply.
loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupier loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name loans.com.au Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.04% Comp. Rate p.a. 6.06% Minimum Loan Amount $50,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees Settlement Fee $300 Discharge Fee $300 Pros A competitive variable rate home loan Optional offset account No application fee You can apply online Cons Offset account comes with 0.10% rate	Interest Rate 6.04%	Comparison Rate 6.06%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $905	Go to site Compare
loans.com.au Solar Home Loan Principal & Interest10% min. depositOwner-occupierOffset account loans.com.au Solar Home Loan Principal & Interest10% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Solar Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.99% Comp. Rate p.a. 6.51% Minimum Loan Amount $50,000 Maximum Loan Amount $1,500,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees Settlement Fee $300 Discharge Fee $300 Pros Borrowers can use as low as a 10% deposit Available for both owner-occupiers and investors No application or ongoing fees Extra repayments available Option for redraw and split accounts Cons Minimum loan term of 15 years Late payment fee of $150 Have to pay an extra 0.10% p.a. if you want to add an offset account	Interest Rate 5.99%	Comparison Rate 6.51%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $900	Go to site Compare
loans.com.au Solar Home Loan Principal & Interest10% min. depositInvestmentOffset account loans.com.au Solar Home Loan Principal & Interest10% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Solar Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.19% Comp. Rate p.a. 6.58% Minimum Loan Amount $50,000 Maximum Loan Amount $1,500,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees Settlement Fee $300 Discharge Fee $300 Pros Borrowers can use as low as a 10% deposit Available for both owner-occupiers and investors No application or ongoing fees Extra repayments available Option for redraw and split accounts Cons Minimum loan term of 15 years Late payment fee of $150 Have to pay an extra 0.10% p.a. if you want to add an offset account	Interest Rate 6.19%	Comparison Rate 6.58%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $919	Go to site Compare
IMB Budget Home Loan Principal & Interest20% min. depositOwner-occupier IMB Budget Home Loan Principal & Interest20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name IMB Budget Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.17% Minimum Loan Amount $10,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Yes Extra Repayments Yes Application Fee $449 Lender's Legal Fee $0 Valuation Fee At cost Ongoing Fees Settlement Fee $350 Discharge Fee $350 Pros Enjoy a discounted interest rate for staying below 80% of the property value Make extra payments at any time Withdraw excess funds from the mortgage via the redraw facility Cons No offset account for this product Application fee of $449	Interest Rate 6.14%	Comparison Rate 6.17%	Fees Application: $449 Ongoing: $0 p.a.	Monthly Payment $914	Go to site Compare	$2,000-$4,000 cashback Eligible refinancers can get up to $4,000 cashback when switching their loan to IMB. Loan value criteria applies. Other terms and conditions also apply.
Newcastle Permanent Real Deal Home Loan Principal & Interest20% min. depositOwner-occupierOffset account Newcastle Permanent Real Deal Home Loan Principal & Interest20% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Newcastle Permanent Real Deal Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.09% Comp. Rate p.a. 6.13% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $595 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros No valuation fee No ongoing fees Redraw facility available Cons Application fee of $595	Interest Rate 6.09%	Comparison Rate 6.13%	Fees Application: $595 Ongoing: $0 p.a.	Monthly Payment $909	Go to siteMore Info Compare	$3,000 refinance cashback offer Eligible purchasers and refinancers can get $2,000 or $3,000 depending on loan value, as long as LVR is 80% or lower. Terms and conditions apply.
Homestar Star Classic Variable Rate Home Loan Principal & Interest30% min. depositOwner-occupierOffset account Homestar Star Classic Variable Rate Home Loan Principal & Interest30% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Homestar Star Classic Variable Rate Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.99% Comp. Rate p.a. 5.99% Minimum Loan Amount $150,000 Maximum Loan Amount $2,000,000 Maximum Loan Term Maximum LVR 70% Loan Redraw Facility No Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $595 Pros No ongoing fees No application fee Comes with up to 4 offset accounts Cons You can’t redraw from extra repayments If you want to deal with someone face-to-face, you can’t	Interest Rate 5.99%	Comparison Rate 5.99%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $900	Go to site Compare

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Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositOwner-occupier Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.35% Comp. Rate p.a. 6.26% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros Borrow with as little as 5% deposit No application fee No valuation fee for properties up to $2 million No annual fee Cons Monthly repayments only	Interest Rate 6.35%	Comparison Rate 6.26%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $935	Go to site Compare
Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositInvestment Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositInvestment Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.65% Comp. Rate p.a. 6.53% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros Borrow with as little as 5% deposit No application fee No valuation fee for properties up to $2 million No annual fee Cons Monthly repayments only	Interest Rate 6.65%	Comparison Rate 6.53%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $964	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 3Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 5.99% Comp. Rate p.a. 6.37% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 5.99%	Comparison Rate 6.37%	Fees Application: $0 Ongoing: $250 p.a.	Monthly Payment $900	Go to site Compare
Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed30% min. depositInvestment Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed30% min. depositInvestment Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.55% Comp. Rate p.a. 6.42% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros Borrow with as little as 5% deposit No application fee No valuation fee for properties up to $2 million No annual fee Cons Monthly repayments only	Interest Rate 6.55%	Comparison Rate 6.42%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $954	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 2Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 2Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.09% Comp. Rate p.a. 6.41% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 6.09%	Comparison Rate 6.41%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $909	Go to site Compare
Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed30% min. depositOwner-occupier Macquarie Bank Basic Fixed Home Loan Principal & Interest 3Y Fixed30% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.25% Comp. Rate p.a. 6.20% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros Borrow with as little as 5% deposit No application fee No valuation fee for properties up to $2 million No annual fee Cons Monthly repayments only	Interest Rate 6.25%	Comparison Rate 6.20%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $925	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 5Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 5Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.19% Comp. Rate p.a. 6.43% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 6.19%	Comparison Rate 6.43%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $919	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.39% Comp. Rate p.a. 6.45% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 6.39%	Comparison Rate 6.45%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $939	Go to site Compare
Commonwealth Bank Wealth Package Fixed Home Loan Principal & Interest 3Y Fixed10% min. depositInvestment Commonwealth Bank Wealth Package Fixed Home Loan Principal & Interest 3Y Fixed10% min. depositInvestment Details Fees Pros & cons Product Name Commonwealth Bank Wealth Package Fixed Home Loan Interest Rate Type Fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.64% Comp. Rate p.a. 8.41% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees Settlement Fee $200 Discharge Fee $350 Pros Refinance cashback for eligible borrowers $0 application fee Get a discount off the advertised fixed rates for choosing the Wealth Package $0 upfront fees (with Wealth Package) Cons There is a $395 annual package fee $200 settlement fee $350 discharge fee for closing your loan	Interest Rate 6.64%	Comparison Rate 8.41%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $963	Compare
Australian Mutual Bank Fixed Home Loan Principal & InterestInterest only 3Y Fixed5% min. depositOwner-occupier Australian Mutual Bank Fixed Home Loan Principal & InterestInterest only 3Y Fixed5% min. depositOwner-occupier Details Fees Pros & cons Product Name Australian Mutual Bank Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Only Interest Rate p.a. 5.74% Comp. Rate p.a. 6.31% Minimum Loan Amount $0 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 95% Loan Redraw Facility No Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $250 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees Settlement Fee $0 Discharge Fee $180 Pros Cons	Interest Rate 5.74%	Comparison Rate 6.31%	Fees Application: $250 Ongoing: $0 p.a.	Monthly Payment $876	Compare
ING Fixed Rate Home Loan Principal & Interest 4Y Fixed5% min. depositInvestment ING Fixed Rate Home Loan Principal & Interest 4Y Fixed5% min. depositInvestment Details Fees Pros & cons Product Name ING Fixed Rate Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.34% Comp. Rate p.a. 6.33% Minimum Loan Amount $50,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 95% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $499 Lender's Legal Fee $0 Valuation Fee covers up to $225, for the first valuation/property only Ongoing Fees $0 p.a. Settlement Fee $299 Discharge Fee $250 Pros $0 ongoing fees Make additional repayments up to $10,000 per settlement anniversary before incurring fees Cons $499 application fee $250 discharge fee when you close out your home loan No offset account	Interest Rate 6.34%	Comparison Rate 6.33%	Fees Application: $499 Ongoing: $0 p.a.	Monthly Payment $934	Compare
ANZ Fixed Rate Home Loan Principal & Interest 3Y Fixed20% min. depositInvestment ANZ Fixed Rate Home Loan Principal & Interest 3Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name ANZ Fixed Rate Home Loan Interest Rate Type Fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.69% Comp. Rate p.a. 7.50% Minimum Loan Amount $20,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility No Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $10 monthly ($120 p.a.) Settlement Fee $160 Discharge Fee $160 Pros Your interest rate won't change over the course of the fixed term Interest only options available for a period of up to 10 years The ability to split your loan in a fixed portion and a variable portion Full offset available for the 1 year fixed rate product Cons $0 valuation fee $160 settlement fee $10 per month account fee	Interest Rate 6.69%	Comparison Rate 7.50%	Fees Application: $0 Ongoing: $10 per month	Monthly Payment $968	Compare
BankSA Fixed Rate Home Loan with Advantage Package Principal & Interest 4Y Fixed20% min. depositInvestment BankSA Fixed Rate Home Loan with Advantage Package Principal & Interest 4Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name BankSA Fixed Rate Home Loan with Advantage Package Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.79% Comp. Rate p.a. 7.90% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee Various Valuation Fee $164 Ongoing Fees $395 p.a. Settlement Fee $100 Discharge Fee $350 Pros $0 application fee Flexible repayments Split loan facility available Cons A $350 discharge fee applies when closing the loan $100 settlement fee $395 annual service fee	Interest Rate 6.79%	Comparison Rate 7.90%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $978	Compare
Bank of Melbourne Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed30% min. depositInvestment Bank of Melbourne Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed30% min. depositInvestment Details Fees Pros & cons Product Name Bank of Melbourne Fixed Rate Home Loan with Advantage Package Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.49% Comp. Rate p.a. 7.99% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee Various Valuation Fee From $164 Ongoing Fees $395 p.a. Settlement Fee $100 Discharge Fee $350 Pros Competitive fixed rates Allows online redraw Split facility option Cons There is a $395 annual package fee There is a $350 discharge fee There is a $100 settlement fee	Interest Rate 6.49%	Comparison Rate 7.99%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $948	Compare
ME Flexible Home Loan Fixed with Members Package Principal & Interest 3Y Fixed20% min. depositInvestment ME Flexible Home Loan Fixed with Members Package Principal & Interest 3Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name ME Flexible Home Loan Fixed with Members Package Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.44% Comp. Rate p.a. 7.03% Minimum Loan Amount $40,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $200 Valuation Fee $200 Ongoing Fees Settlement Fee $250 Discharge Fee $350 Pros Extra repayments up to $30,000 per year are allowed No application fee Cons Annual fee of $395 Discharge fee of $350 Solicitor fee of $200	Interest Rate 6.44%	Comparison Rate 7.03%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $944	Compare
St.George Fixed Rate Home Loan with Advantage Package Principal & Interest 4Y Fixed20% min. depositInvestment St.George Fixed Rate Home Loan with Advantage Package Principal & Interest 4Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name St.George Fixed Rate Home Loan with Advantage Package Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.79% Comp. Rate p.a. 7.90% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee Various Valuation Fee From $164 Ongoing Fees $395 p.a. Settlement Fee $100 Discharge Fee $350 Pros $0 application fee Withdraw excess funds from your mortgage via the redraw facility (up to $10,000 a year) Cons There is a settlement fee of $100 There is an annual package fee of $395 There is a $350 discharge fee when you close your home loan account	Interest Rate 6.79%	Comparison Rate 7.90%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $978	Compare
Bank of Melbourne Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed20% min. depositOwner-occupier Bank of Melbourne Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed20% min. depositOwner-occupier Details Fees Pros & cons Product Name Bank of Melbourne Fixed Rate Home Loan with Advantage Package Interest Rate Type Fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.59% Comp. Rate p.a. 7.64% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes - max $30,000 over fixed rate term Application Fee $0 Lender's Legal Fee Various Valuation Fee From $164 Ongoing Fees $395 p.a. Settlement Fee $100 Discharge Fee $350 Pros Competitive fixed rates Allows online redraw Split facility option Cons There is a $395 annual package fee There is a $350 discharge fee There is a $100 settlement fee	Interest Rate 6.59%	Comparison Rate 7.64%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $958	Compare
Westpac Fixed Option Home Loan Premier Advantage Package Principal & Interest 4Y Fixed20% min. depositOwner-occupier Westpac Fixed Option Home Loan Premier Advantage Package Principal & Interest 4Y Fixed20% min. depositOwner-occupier Details Fees Pros & cons Product Name Westpac Fixed Option Home Loan Premier Advantage Package Interest Rate Type Fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.69% Comp. Rate p.a. 7.55% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $395 p.a. Settlement Fee $150 Discharge Fee $350 Pros $0 application fee Make extra payments up to $30,000 and redraw these funds during the fixed term without penalty Cons There is a $395 annual package fee A $350 discharge fee applies when you pay off your home loan	Interest Rate 6.69%	Comparison Rate 7.55%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $968	Compare
St.George Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed20% min. depositInvestment St.George Fixed Rate Home Loan with Advantage Package Principal & Interest 2Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name St.George Fixed Rate Home Loan with Advantage Package Interest Rate Type Fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.59% Comp. Rate p.a. 8.07% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes - max $30,000 over fixed rate term Application Fee $0 Lender's Legal Fee Various Valuation Fee From $164 Ongoing Fees Settlement Fee $100 Discharge Fee $350 Pros $0 application fee Withdraw excess funds from your mortgage via the redraw facility (up to $10,000 a year) Cons There is a settlement fee of $100 There is an annual package fee of $395 There is a $350 discharge fee when you close your home loan account	Interest Rate 6.59%	Comparison Rate 8.07%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $958	Compare
Westpac Fixed Option Home Loan Premier Advantage Package Interest only 2Y Fixed20% min. depositInvestment Westpac Fixed Option Home Loan Premier Advantage Package Interest only 2Y Fixed20% min. depositInvestment Details Fees Pros & cons Product Name Westpac Fixed Option Home Loan Premier Advantage Package Interest Rate Type Fixed rate Repayment Type Interest Only Interest Rate p.a. 6.64% Comp. Rate p.a. 8.30% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $395 p.a. Settlement Fee $150 Discharge Fee $350 Pros $0 application fee Make extra payments up to $30,000 and redraw these funds during the fixed term without penalty Cons There is a $395 annual package fee A $350 discharge fee applies when you pay off your home loan	Interest Rate 6.64%	Comparison Rate 8.30%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $963	Compare

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1 - 6 of 6

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Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupier loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name loans.com.au Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.04% Comp. Rate p.a. 6.06% Minimum Loan Amount $50,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees Settlement Fee $300 Discharge Fee $300 Pros A competitive variable rate home loan Optional offset account No application fee You can apply online Cons Offset account comes with 0.10% rate	Interest Rate 6.04%	Comparison Rate 6.06%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $905	Go to site Compare
Ubank Flex Variable Home Loan Principal & Interest40% min. depositOwner-occupierOffset account Ubank Flex Variable Home Loan Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Ubank Flex Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.38% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros A competitive variable rate home loan 100% offset account Cons Lower rates require higher deposits Ongoing annual fee	Interest Rate 6.14%	Comparison Rate 6.38%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $914	Go to site Compare
Macquarie Bank Basic Home Loan Principal & Interest40% min. depositOwner-occupier Macquarie Bank Basic Home Loan Principal & Interest40% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Macquarie Bank Basic Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.16% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $400 Pros $0 application and ongoing fees. Interest only options available. Fee free redraws of extra repayments made. Cons No offset account available. $400 discharge fee when you close your home loan.	Interest Rate 6.14%	Comparison Rate 6.16%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $914	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.39% Comp. Rate p.a. 6.45% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 6.39%	Comparison Rate 6.45%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $939	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.14% Comp. Rate p.a. 6.39% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Interest Rate 6.14%	Comparison Rate 6.39%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $914	Go to site Compare
Ubank Flex Fixed Home Loan Principal & Interest 5Y Fixed20% min. depositOwner-occupier Ubank Flex Fixed Home Loan Principal & Interest 5Y Fixed20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Ubank Flex Fixed Home Loan Interest Rate Type fixed rate Repayment Type Principal & Interest Interest Rate p.a. 6.19% Comp. Rate p.a. 6.43% Minimum Loan Amount $80,000 Maximum Loan Amount $5,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option Yes Loan Portable No Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Free if valuation is under $360 Ongoing Fees Settlement Fee $250 Discharge Fee $300 Pros Competitive interest rates Redraw facility available Smartphone app functionality Allows $20,000 of additional repayments per fixed term Cons Requires a 20% deposit $0 application fee $250 service fee charged annually	Interest Rate 6.19%	Comparison Rate 6.43%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $919	Go to site Compare

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Written by

Richard Whitten

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

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Richard has written 530 Finder guides across topics including:

• Home loans
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