The Rock Essentials Home Loan

The Rock Essentials Home Loan has a competitive rate, no ongoing fees and flexible features.

The Rock Essentials Home Loan is a basic home loan that offers a competitive rate and no ongoing fees, while scaling back on some features you may not use. The loan program does offer several helpful features such as flexible repayment terms and a free redraw feature.

Interest Rate Max Insured LVR Max LVR
LVR <= 80% (Investor, IO)
4.38% p.a.
Comparison Rate
4.25% p.a.
80% 80%
LVR <= 80% (Investor, P&I)
4.18% p.a.
Comparison Rate
4.23% p.a.
80% 80%
LVR <= 80% (Owner Occupier, IO)
4.28% p.a.
Comparison Rate
4.15% p.a.
80% 80%
LVR <= 80% (Owner Occupier, P&I)
4.08% p.a.
Comparison Rate
4.13% p.a.
80% 80%
LVR >90% (Owner Occupier, P&I)
4.59% p.a.
Comparison Rate
4.66% p.a.
95% 80%
LVR 80% <= 90% (Owner Occupier, P&I)
4.08% p.a.
Comparison Rate
4.15% p.a.
95% 80%
LVR 80% to 90% (Investor, IO)
4.58% p.a.
Comparison Rate
4.47% p.a.
90% 80%
LVR 80% to 90% (Investor, P&I)
4.38% p.a.
Comparison Rate
4.45% p.a.
90% 80%
Product NameThe Rock Building Society Essentials Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$3,000,000
Minimum Loan Term5 years
Maximum Loan Term25 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$950
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$200
Discharge Fee$0


  • No ongoing fees.
  • Borrow up to 95% of the value of the property.
  • Offset account available.


  • There is a $950 application fee.
  • Minimum loan amount is $100000.

Details to consider about the Rock Essentials Home Loan

This loan is available to owner occupiers and investors for the purchase, refinancing or construction of a new home. It allows unlimited additional repayments, and interest-only payments for up to five years.

Features of the Rock Essentials Home Loan

  • Loan amount and term. The minimum borrowing amount is $100,000 and the maximum loan term is 25 years years. You can borrow up to 95% of the value of the property, although borrowing above 80% will require lenders mortgage insurance (LMI).
  • Repayment types. The Rock Essentials Home Loan offers flexible repayment terms. You can repay your home loan weekly, fortnightly or monthly. The loan also allows unlimited additional repayments without penalty, and you can make interest-only payments for a period of up to five years.
  • Split facility. This loan offers up to six splits between fixed and variable rate portions.
  • Redraw and offset accounts. The Rock Essentials Home Loan offers free online redraw to allow access to any extra funds you’ve paid into your home loan. The minimum redraw amount is $500. It also offers an offset account, allowing you to reduce the amount of the loan on which interest is calculated.
  • Available for construction. This loan can be used for the construction of a new home. During the construction period, interest will only be paid on the amount you’ve drawn down to date.


  • No ongoing fees. The Rock Essentials Home Loan comes with no ongoing administration fees, but does charge an establishment fee.
  • Establishment fee. $950. This fee covers the administrative and legal costs of establishing your home loan.

Who is The Rock?

The Rock was established in 1967 and is based in Rockhampton, Queensland. First listed on the Australian Stock Exchange in 1992 the company is now a division of MyState Bank Limited. Focused on home loans, the company offers various financial services products including savings accounts and insurance.

Although Queensland based the company offers loans across Australia.

How to apply for a Rock Essentials Home Loan

If you’ve considered all the features of the Rock Essentials Home Loan and have decided it could be right for you, you can head to the Rock’s website and enter your contact details. A home loan expert will call you back to walk you through the application process. Be prepared to offer:

  • Your personal details. You’ll need to provide your name, date of birth and all contact information.
  • Your financial details. The Rock will want to know details about your income, assets and liabilities.
  • Your desired loan. You’ll need to provide details about the loan for which you’re applying, the loan amount you want and the desired purpose of the loan.
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The Rock Building Society Essentials Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $950 / $0

  • Max LVR


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