The 1.99% p.a. advertised rate (2.93% p.a comparison rate*) is for the 'The Works' packaged home loan for owner-occupiers paying principal & interest (P&I).

Borrowers get a choice of either a two-year variable introductory rate or a two-year fixed rate - the advertised and comparison rates are the same.

After the two-year intro rate ends, the home loan reverts to a rate of 2.50% p.a. (3.01% p.a. comparison rate*).

Borrowers must also pay their home loan repayments through the linked transaction account.

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


FixedMore details
Free Redraw Facility
Free Redraw Facility

Tiimely Home – Live-in Fixed Home Loan (Principal and Interest) 1 Year

    FixedMore details

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

      FixedMore details

      Westpac – Premier Package Fixed Options Home Loan (Principal and Interest) 1 Year (LVR 70%-80%)

        FixedMore details

        ANZ – Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR < 80%)

          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 March 4, 2024. View disclaimer.

          While both look the same on the surface, the differences between variable rates and fixed rates are explained further here.

          Illawarra Credit Union is now the 11th lender in's market research to introduce a sub-2% home loan.

          The new rate, introduced late Thursday, comes after experts forecasted another Reserve Bank cash rate cut in October.

          More to come...

          See Also: The Potential $35,000 Cost of Breaking a Fixed Home Loan

          Tic:Toc also reduces

          Yesterday, Tic:Toc also reduced the interest rate of its 'Live-In' fixed home loan by 18 basis points, down to 2.09% p.a. (2.35% p.a. comparison rate*)

          It's fixed for two years, for owner-occupiers paying P&I, with LVRs up to 90%.

          Tic:Toc spokesperson Laura Osti also said it's available with a 100% offset account.

          "Combine that with our 100% online process with faster turn-arounds, and our team of Australian-based experts itching to help outside of business hours, and we think this is one of the best deals in the market," she said.

          "It’s not surprising there has been an increasing demand for fixed home loans – there is some very sharp fixed rate pricing at the moment, and with Covid, it makes sense Australians would want some certainty in payments during an uncertain time in our lives."

          Ready, Set, Buy!

          Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

          With bonus Q&A sheet and Crossword!

          By subscribing you agree to our privacy policy