Up home loans

Up has fixed and variable rate loans with rates from 5.55%.

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Up is a digital bank that launched in 2018 through a partnership between Bendigo Bank and software development company Ferocia. Up offers fixed and variable rate home loans for new buyers and refinancers.

Compare Up home loans for December 2024

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Name Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Up Home Loan logo
Principal & Interest10% min. depositOwner-occupierOffset account
Up Home Loan logo
Principal & Interest10% min. depositOwner-occupierOffset account
Product NameUp Home Loan Variable Rate
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6%
Comp. Rate p.a.6%
Minimum Loan Amount$50,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest Option
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
6%
Comparison Rate
6%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$901
Up Home Loan logo
Principal & Interest 5Y Fixed10% min. depositOwner-occupierOffset account
Up Home Loan logo
Principal & Interest 5Y Fixed10% min. depositOwner-occupierOffset account
Product NameUp Home Loan Fixed Rate
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.80%
Comp. Rate p.a.5.91%
Minimum Loan Amount$50,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
5.80%
Comparison Rate
5.91%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$882
Up Home Loan logo
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
Up Home Loan logo
Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account
Product NameUp Home Loan Fixed Rate
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.85%
Comp. Rate p.a.5.98%
Minimum Loan Amount$50,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
5.85%
Comparison Rate
5.98%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$886
Up Home Loan logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account
Up Home Loan logo
Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account
Product NameUp Home Loan Fixed Rate
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.55%
Comp. Rate p.a.5.91%
Minimum Loan Amount$50,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
5.55%
Comparison Rate
5.91%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$858
Up Home Loan logo
Principal & Interest 4Y Fixed10% min. depositOwner-occupierOffset account
Up Home Loan logo
Principal & Interest 4Y Fixed10% min. depositOwner-occupierOffset account
Product NameUp Home Loan Fixed Rate
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.5.80%
Comp. Rate p.a.5.93%
Minimum Loan Amount$50,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan Facility
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
Interest Rate
5.80%
Comparison Rate
5.93%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$882
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Up Bank key facts

  • Up's variable rate and comparison rate is the same because it doesn't charge the fees that can push comparison rates higher.
  • The bank offers fixed and variable rate loans which are consistent across the board - there are no sneaky offers for special customers.
  • If you bank with Up, all of your bank accounts will act as free offset accounts, meaning your savings can save you interest.
  • Up also offers a transaction account and savings account.

Up home loan features

Here are the key features and details you need to know about Up Home:

FeatureDetails
EligibilityUp Home is currently available for owner-occupiers, including new home buyers and refinancers. Your property needs to be located in a capital city or major regional centre.
Offset accountsYou can have up to 50 free offset accounts. If you bank with Up already, your transaction account and savings account can act as offset accounts so that you save money on the interest you pay.
FeesThere are no application or setup fees, no monthly or annual bank fees, no redraw fees and no discharge fees. Up also pays towards valuation costs.
Repayment optionsUp Home allows you to make unlimited additional repayments on its loans.

How do I apply for an Up home loan?

All Up products, including loans, are offered through the bank's smartphone app. You can download the app from the Play Store or App store, or via Up's website.

Up can assess loans quickly using its digital application tools.

Eligibility

In its current phase, you might be eligible for Up Home if:

  • You're an Australian citizen or permanent resident who lives in Australia (must have 2 forms of government ID)
  • Your property is in a capital city or major regional centre
  • You have at least a 10% deposit (or equity in the property if refinancing)
  • You want to borrow more than $50,000
  • You are currently employed or self-employed

How to apply for a home loan

Lenders like Up

If you're looking for a similar lender to Up to service your home loan, you could look at other online lenders such as:

  • Ubank. An online bank backed by NAB.
  • 86 400. This online lender offers super-fast loan turnarounds and was bought by NAB in May 2021.
  • Athena. This digital fintech lender offers low-rate mortgages and an entirely online service.
  • Nano Home Loans. Nano is an online lender with low rates and a fast approval process, currently only available to refinancers.
  • Tiimely Home. This lender's online application tool can process your mortgage application fast. Backed by the Bendigo and Adelaide Bank.
  • ING. This online bank is part of the global Dutch-based financial group of the same name.
  • Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
  • Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.

What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

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Senior writer

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio

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Rebecca has written 198 Finder guides across topics including:
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