Australian Home Loan Interest Rates

Bank Rate Type
ING Direct Variable Rate Home Loan

Rate indicated is applicable to the Orange Advantage Home Loan product. Please refer to the ING Direct bank website for full details.

3.69%
APR 4.01%
-Apply
Nov 2017
Macquarie Bank Variable Rate Home Loan

Rate below is calculated for a loan amount of $500,000 and house value of $600,000. Please see Macquarie Bank's website for full details.

3.69%
APR 3.69%
-Apply
Nov 2017
UBank Variable Rate Home Loan

Rate indicated is applicable to the UHomeLoan (base rate) product.

3.74%
APR 3.74%
-Apply
Nov 2017
Bank Australia Basic Home Loan

The rate for the comparison rate is based on a loan of $150,000 for 25 years. The rate indicated is for owner occupier purposes but can be used for investment but other rates may apply.

3.74%
APR 3.75%
-Apply
Nov 2017
Suncorp Bank Variable Rate Home Loan

Rate indicated is Suncorp Bank's standard variable rate. Please refer to the Suncorp Bank website for full details.

3.79%
APR 4.18%
-Apply
Nov 2017
CBA Fixed Rate Home Loan

Rate indicated is the fixed Interest Rate based on the 'Standard Fixed Rate' product for a term of 3 years. 

3.99%
APR 4.99%
FixedApply
Nov 2017
Bankwest Complete Variable Home Loan

For further information, please visit the Bankwest website. Rate is applicable to the product 'complete variable home loan'

3.99%
APR 4.41%
-Apply
Nov 2017
Credit Union Australia Standard Variable Home Loan

For further information, please visit the Credit Union Australia website. Rate is applicable to the product 'The CUA Standard Variable Rate home loan '.

3.99%
APR 4.00%
-Apply
Nov 2017
Westpac 2 Year Fixed Rate Home Loan

This Home Loan product from Westpac gives you options as the name indicates - the Fixed Interest Rate Home Loan lets you choose 1, 2, 3, 4, 5, 7 or 10 year fixed year period. You also have an option of choosing another fixed period when the previous term comes to an end. For details or possible fees see the Westpac website.

4.08%
APR 5.16%
FixedApply
Nov 2017
St. George Bank 1 Year Fixed Rate Home Loan

Rate indicated is the Annual rate and is based on the Fixed Rate Home Loan.

4.14%
APR 5.28%
FixedApply
Nov 2017
Home Loan requirements from providers

In Australia, since 1 January 2012, all lenders who would offer standard home loans will need to provide a key facts sheet when a  borrower asks them. These fact sheets will be in a standard format so you can compare against other home loans from other providers. Facts will include loan amounts and terms, interest rates, comparison rate(also known as APR internationally), the amount to be paid back including fees and any establishment fees.

Home Loan Deposit and Mortgage Insurance

When obtaining a mortgage loan in Australia, it is recommended that the borrower has at least a 20% deposit. If the borrower was to borrow more than 80% of the purchase price of a property they may be subject to lenders mortgage insurance (LMI) which insures the lender against default from the borrower. The added LMI fee from a lender could be many thousands of dollars that could be added to the home loan.

Domination of mortgage market share by big banks

The Australian big banks had the largest market share for mortgages in Australia with the largest 4, Commonwealth Bank,Westpac, National Bank of Australia and ANZ having share combined over 80% according to KPMG (kpmg.com.au)