As of today,'s Smart Booster Home Loan will offer a lower interest rate for two years that will see a new product added to the extensive list of home loan rates 'starting with a 1'.

The Smart Booster Home Loan will have a discounted interest rate of 1.85% p.a (2.21% p.a comparison rate*) for the first two years, assuming the borrower has a deposit of 30% or more. 

If the borrower has a 20% deposit (no less), the discounted rate will be 2.09% p.a (2.79% p.a comparison rate*) for two years. 

A one year discounted interest rate is also still available at 1.99% p.a (2.48% p.a comparison rate*). 

Each of these home loans can also come with an added redraw offset account for an extra 0.10% p.a on the interest rate. 

The 1.85% p.a rate is the lowest variable rate has ever offered, and Managing Director Marie Mortimer said the fintech was "very excited" to help more Australians achieve their dream of owning a home.

“Borrowers who are considering switching to a lower rate should take the opportunity to reassess their loan provider and potentially refinance,” Ms Mortimer said.

“Many people are keen to leave the big banks and are surprised to discover how easy it is to refinance and the great deals that are out there with online lenders.

“Most of our customers tell us that they delayed refinancing because they thought it would be a big hassle but it turned out to be much simpler than they expected and well worth the time invested.”


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.

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 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
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.
6.09% p.a.
6.11% 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.

These loans are available for purchasers and refinancers making principal and interest (P&I) repayments with a maximum loan amount of $1 million. 

Importantly, they also come with competitive 'rollover rates' once the discounted period ends: 

  • Smart Booster two-year (70% LVR): 2.25% p.a rollover rate 
  • Smart Booster two-year (80% LVR): 2.79% p.a rollover rate 
  • Smart Booster one-year (80% LVR): 2.48% p.a rollover rate 

Rollover or 'revert rates' are usually the lender's standard variable rate, which is often much higher than what they offer on their main home loan products. 

According to the Reserve Bank of Australia (RBA), the average standard variable rate at the moment is 3.10% p.a for existing customers, almost 100 basis points higher than what is offering. 

Other key facts about these loans: 

  • Loan term: 15-30 years
  • Redraws allowed: Yes
  • Redraw limits: none 
  • Redraw fees: $0 
  • Application fee: $0 
  • Valuation fee: $220 or at cost 
  • Ongoing fee: $0 
  • Settlement fee: $300 
  • Exit/discharge fee: $0 
  • Extra and flexible repayments allowed: Yes 

Related: Compare home loan fees.

Westpac raises fixed rates 

Major bank Westpac is another major lender to change home loan rates lately, but these changes were not discounts. 

Yesterday, Westpac increased two and three year fixed home loan rates by 10 basis points just over a month after it hiked four and five year fixed package rates for owner occupiers.

In recent weeks, ING increased some fixed home loan rates by up to 80 basis points, while UBank lowered its one-year fixed home loan rate for owner-occupiers to its 'lowest ever' 1.75% p.a (2.31% p.a comparison rate*). 

Other banks that have increased rates lately include CommBankNAB, and Citi, just to name a few. 

Photo by Vicko Mozara on Unsplash


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

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