Home loan comparison

Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
VariableMore details
WIN YOUR HOME LOAN INTEREST FREE

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • WIN your home loan interest free and save up to $1.1 million. Refinance by 29 October. T&Cs apply.
  • Refinance Only. Fast online application, refinance in minutes, not weeks.
  • No Nano fees, Free 100% offset sub account. Mobile app. Visa debit card & instant payments.
WIN YOUR HOME LOAN INTEREST FREE

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • WIN your home loan interest free and save up to $1.1 million. Refinance by 29 October. T&Cs apply.
  • Refinance Only. Fast online application, refinance in minutes, not weeks.
  • No Nano fees, Free 100% offset sub account. Mobile app. Visa debit card & instant payments.
VariableMore details
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
FixedMore details
ONLY A 5% DEPOSIT REQUIRED

Fixed Rate Home Loan (Principal and Interest) 3 Years

ONLY A 5% DEPOSIT REQUIRED
FixedMore details
NO ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR 70%-80%) 3 Years

NO ONGOING FEES
FixedMore details

Home Advantage Fixed Home Loan 1 Year

FixedMore details

Fixed Rate Home Loan (Principal and Interest) (NSW and ACT only) 1 Year (LVR < 95%)

VariableMore details

Pepper Essential Home Loan (Prime) (Principal and Interest) (LVR < 55%)

VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
FixedMore details

Basic Home Loan Fixed 1 Year (LVR 70%-80%)

FixedMore details

Fixed Rate Home Loan 2 Years (LVR 80%-95%)

FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest)

YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*
VariableMore details

Great Rate Variable Home Loan (New Customers) (NSW, ACT & QLD only)

VariableMore details
NO ONGOING FEES

Basic Flyer Home Loan (Principal and Interest) (LVR 60%-70%)

NO ONGOING FEES
FixedMore details

Your Way Plus Fixed Home Loan 3 year (Principal and Interest) (LVR 60%-80%)

FixedMore details

Fixed Rate Home Loan (Principal and Interest) 1 Year

VariableMore details
FREE REDRAW FACILITY

Basic Home Loan (Principal and Interest) (LVR 70%-80%)

FREE REDRAW FACILITY
VariableMore details

Yard Home Loan (Principal and Interest) (Special) (LVR < 80%)

  • Application completely online
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^

Yard Home Loan (Principal and Interest) (Special) (LVR < 80%)

  • Application completely online
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
FixedMore details

Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR > 80%)

FixedMore details

Tailored Home Loan Fixed (Principal and Interest) 4 Years

FixedMore details
ONLY A 5% DEPOSIT REQUIRED

Fixed Rate Home Loan (Principal and Interest) 2 Years

ONLY A 5% DEPOSIT REQUIRED

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of September 25, 2021. View disclaimer.

 

Negative gearing tax deduction

According to the Australian Taxation Office (ATO), a rental property is negatively geared if the net rental income is less than the cost of owning the property, including expenses and the interest on the loan. When you have a net rental loss, you can claim a deduction for the full amount lost on your other sources of income, such as your salary, reducing your taxable income.

This can be pretty tax-effective, which is why many investment properties are negatively geared.

Our negative gearing calculator can help you estimate how much a negatively geared property could cost you each year compared to how much you could save on personal income tax.

Negative gearing calculator

Our negative gearing calculator can give property investors an estimate of the tax benefits they could receive, based on the following information:

  • The purchase price of the property
  • The loan amount
  • The loan term
  • The interest rate on your loan, and the repayment type (principal and interest, interest-only)
  • Your rental income and gross personal income (before tax)
  • Fees you have to pay on the property (council rates, strata fees, insurance, repairs and maintenance etc.)

While this calculator can give you an estimate on how much your taxable income tax could be affected by negative or positive gearing, you shouldn’t base your investment decisions on it. Consider consulting a qualified financial adviser or accountant.

 

Home loan news


Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au

Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.