Bank First has introduced a record low three-year fixed home loan rate of 1.99% p.a. (3.10% p.a. comparison rate*).

The 1.99% p.a. fixed interest rate applies for three years before reverting to a rate of 2.88% p.a.

The new mortgage is available to homebuyers and refinancers with a loan to value ratio (LVR) of 80% or lower.

Check out how the new fixed home loan rate compares to some of the most competitive variable-rate home loans on the market: 

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured Online ExclusiveUp To $4K Cashback
  • Immediate cashback upon settlement
  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

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 be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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. *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. Rates correct as of . View disclaimer.

Bank First may be the first lender to launch a three-year fixed rate under 2% but it's not the first home loan rate to start with a one. 

Major online lender launched an introductory discounted variable rate of 1.99% p.a. (2.55% p.a. comparison rate*) less than a month ago while HomeStar Finance also recently unveiled a 1.98% p.a. one year fixed rate (2.51% p.a. comparison rate*). 

At the end of June, Tasmanian-based Bank of Us offered Tasmanian residents fixed-rate home loans for up to three years for 1.99% p.a.

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