Greater Bank

Greater Bank home loans

Greater Bank has home loans for owner-occupiers and investors, with rates starting from 1.69%.

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Greater Bank is an Australian mutual bank based in Newcastle. Check out the full table of Greater Bank products below or read more about the lender and its loans.

Compare Greater Bank home loans for September 2021

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$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

Greater Bank Great Rate Fixed Home Loan P&IHome 1Y Fixed≥ -10% Deposit

Greater Bank Great Rate Fixed Home Loan
1.69%
2.34%
  • App: $0
  • Ongoing: $0 p.a.
$533
Get one of the lowest rates on the market with this fixed rate mortgage. NSW, QLD and ACT residents only.

Greater Bank Great Rate Home Loan P&IHome≥ 20% Deposit

Greater Bank Great Rate Home Loan
2.39%
2.40%
  • App: $0
  • Ongoing: $0 p.a.
$586
Fund the construction of your new family home with a very competitive variable interest rate.

Greater Bank Great Rate Fixed Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Greater Bank Great Rate Fixed Home Loan
1.79%
2.30%
  • App: $0
  • Ongoing: $0 p.a.
$540
A discounted 2 years fixed rate for home buyers. Available with just a 10% deposit. Guarantor option available. NSW, QLD and ACT residents only.

Greater Bank Great Rate Home Loan P&I≥ 40% Deposit

Greater Bank Great Rate Home Loan
2.29%
2.30%
  • App: $0
  • Ongoing: $0 p.a.
$578
Discounted special offer. This competitive variable loan requires a 40% deposit.
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Greater Bank key facts

  • Greater Bank's home loan rates are consistently among the lowest rates on the market.
  • Greater Bank is a mutual bank, meaning it is owned by its members and not run for the profit of shareholders. It has over 50 branches in various parts of the country, mainly in NSW.
  • Greater Bank has home loans available for borrowers with deposits under 20%. If you have a family member who owns a property, they can guarantee your loan and you can borrow even more.

Review by our senior home loans writer Richard Whitten

Greater Bank home loan features

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

FeatureDetails
Minimum depositSome Greater Bank loans have 80% maximum LVRs, meaning you need a 20% deposit. But Greater Bank has some loans that let borrowers use a parental guarantor to borrow above 100%.
Offset accountSome Greater Bank home loans come with offset accounts.
FeesMost Greater Bank loans have minimal fees, though you may have to pay an annual fee if the loan has an offset account.
Repayment optionsBoth Greater 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 Greater Bank mortgages allow you to split your loan into fixed and variable portions.

How do I apply for a Greater 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 Greater 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 Greater 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:

📄 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.

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

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

How to apply for a home loan

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2 Responses

    Default Gravatar
    trevorMay 28, 2015

    Hi, my wife on a disability pension, I am on cares pension daughter on a single mothers pension have a guarantor and 20 thousand in the bank. Is there any way to borrow 200000 for a home loan kind?
    regards Trevor

      Default Gravatar
      BelindaJune 1, 2015

      Hi Trevor,

      Thanks for your enquiry.

      You may be eligible to apply for a home loan while on Centrelink benefits. I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that’s more inclined to review your application.

      Thanks,
      Belinda

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