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Great Southern Bank home loans

Great Southern Bank has home loans for owner-occupiers and investors, with rates starting from 6.14%.

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Great Southern Bank (formerly CUA), is an Australian mutual bank. Check out the full table of Great Southern Bank products below or read more about the lender and its loans.

Compare Great Southern Bank home loans for July 2024

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Great Southern Bank logo
Principal & Interest30% min. depositOwner-occupier
Great Southern Bank logo
Principal & Interest30% min. depositOwner-occupier
Product NameGreat Southern Bank Basic Variable
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.20%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.14%
Comparison Rate
6.20%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$914
Great Southern Bank logo
Principal & InterestInterest only10% min. depositInvestment
Great Southern Bank logo
Principal & InterestInterest only10% min. depositInvestment
Product NameGreat Southern Bank Basic Variable
Interest Rate TypeVariable rate
Repayment Type Principal & Interest Interest Only
Interest Rate p.a.6.34%
Comp. Rate p.a.6.40%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.34%
Comparison Rate
6.40%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$934
Great Southern Bank logo
Interest only20% min. depositOwner-occupier
Great Southern Bank logo
Interest only20% min. depositOwner-occupier
Product NameGreat Southern Bank Basic Variable
Interest Rate TypeVariable rate
Repayment Type Interest Only
Interest Rate p.a.6.94%
Comp. Rate p.a.6.50%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.94%
Comparison Rate
6.50%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$993
Great Southern Bank logo
Principal & Interest20% min. depositInvestment
Great Southern Bank logo
Principal & Interest20% min. depositInvestment
Product NameGreat Southern Bank Basic Variable
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.45%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.39%
Comparison Rate
6.45%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$939
Great Southern Bank logo
Interest only20% min. depositInvestment
Great Southern Bank logo
Interest only20% min. depositInvestment
Product NameGreat Southern Bank Basic Variable
Interest Rate TypeVariable rate
Repayment Type Interest Only
Interest Rate p.a.6.64%
Comp. Rate p.a.6.56%
Minimum Loan Amount$100,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Interest Rate
6.64%
Comparison Rate
6.56%
Fees
Application: $600
Ongoing: $0 p.a.
Monthly Payment
$963
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Great Southern Bank key facts

  • Great Southern Bank's fixed rate home loans are quite competitive.
  • Great Southern Bank is a mutual bank, meaning it is owned by its members and not run for the profit of shareholders. It has 50 branches across the country plus phone, online and app banking.
  • The bank has home loans available for borrowers with deposits under 20%.

Review by our senior home loans writer Richard Whitten

Great Southern Bank home loan features

Here are the key features and details you need to know about Great Southern Bank's mortgage products.

FeatureDetails
Minimum depositWhile some Great Southern Bank loans have 80% maximum LVRs, meaning you need a 20% deposit, many rates are available with 5% or 10% deposits.
Offset account?Great Southern Bank's basic home loans don't come with offset accounts but some of its other products do.
FeesMost Great Southern Bank loans come with an upfront application fee. However, for a limited time, Great Southern Bank is waiving this fee for borrowers who apply online. Other terms and conditions apply.
Repayment optionsBoth Great Southern Bank's fixed and variable rate loans allow you to make interest only repayments for a limited period. The lender also offers the standard principal and interest repayments on its loans.
Split rateMost Great Southern Bank mortgages allow you to split your loan into fixed and variable portions.

How do I apply for a Great Southern Bank mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

Each Great Southern Bank product has specific eligibility criteria but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Great Southern Bank you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

πŸ“„ Property details. You can start a loan enquiry before you've bought a property, but to complete an application you need the address of the property and a signed contract of sale.

πŸ“„ Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

πŸ“„ Proof of income documents. Recent payslips can establish your income.

πŸ“„ Asset and liability documents. You need to provide documents showing your current assets (such as savings accounts and investments) and liabilities (for example, any outstanding debt you may have).

How to apply for a home loan

Lenders like Great Southern Bank

If you want to compare loans from lenders similar to Great Southern Bank, you can start with these customer-owned banks and credit unions.

More home loan questions

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Editor

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

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6 Responses

    Default Gravatar
    DonOctober 11, 2019

    Is there any Exit fees if i want to pay a loan out early ?

      Default Gravatar
      NikkiOctober 12, 2019

      Hi Don,

      Thanks for your comment.

      Yes, there are exit fees with CUA if you deem you can pay out early. It is called an early payout fee. You can find the actual cost of this fee by going to the PDS and loan policy of the product when you apply at CUA.

      Hope this clarifies and best of luck with your application! As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      You may also seek assistance from a mortgage broker as they will take your circumstances into account and give you a multitude of home loan options.

      Hope this helps and feel free to reach out again as needed.

      With care,
      Nikki

    Default Gravatar
    edJuly 25, 2016

    Hi,
    Am looking for a good land loan. What would you recommend?

    ed

      AvatarFinder
      DeeJuly 25, 2016Finder

      Hi Ed,

      Thanks for your question.

      If you are looking to apply for a loan to buy land, you can compare vacant land home loans.

      Cheers,
      Anndy

    Default Gravatar
    karenMarch 23, 2015

    Would like to know the interest rates and the rates for switching banks. Best rates

      AvatarFinder
      MarcMarch 24, 2015Finder

      Hi Karen,
      thanks for the question.

      This page displays all of CUA’s current home loan rates in the table above. To negotiate a better rate for your business you might want to lodge an enquiry directly with CUA, which you can do by clicking ‘Go to Site’ on any of the products in the table above.

      I hope this helps,
      Marc.

Go to site