Home loans for buying next home
Big four banks
Australia's big four banks - ANZ, CBA, NAB and Westpac - dominate the financial market, account for roughly 74% of home loans in Australia by value.
Commonwealth Bank
5.89%
Fixed rate
7.8% comparison rate
Wealth Package
Westpac
5.89%
Fixed rate
7.08% comparison rate
Premier Advantage Options Home Loan
NAB
5.99%
Fixed rate
6.64% comparison rate
Tailored Home Loan
Commonwealth Bank
6.34%
Variable rate
6.72% comparison rate
Wealth Package Standard
Westpac
6.44%
Variable rate
6.76% comparison rate
Flexi First Option Introductory Home Loan
ANZ
6.54%
Fixed rate
7.10% comparison rate
Home Loan
ANZ
6.54%
Variable rate
6.54% comparison rate
Simplicity Plus
NAB
6.79%
Variable rate
6.87% comparison rate
Tailored Home Loan
Major banks
Other major banks account for close to 20% of home loans in Australia. Some are also owned by the big 4 banks. They tend to have a stricter lending policies compare to the big 4 banks, and some lenders are very conservative with their assessment process, hence they are able to offer slighly lower interest rates.
HSBC
5.59%
Fixed rate
6.35% comparison rate
Home Loan Package
Macquarie Bank
5.59%
Fixed rate
6.01% comparison rate
Basic Home Loan
BOQ
5.69%
Fixed rate
6.31% comparison rate
Fixed Home Loan
ING
5.69%
Fixed rate
6.04% comparison rate
Orange Advantage
BankSA
5.84%
Fixed rate
7.41% comparison rate
Advantage Package
Bank of Melbourne
5.84%
Fixed rate
7.41% comparison rate
Advantage Package
St.George Bank
5.84%
Fixed rate
7.41% comparison rate
Advantage Package
Bankwest
5.89%
Fixed rate
7.05% comparison rate
Complete Home Loan
Bendigo Bank
5.99%
Fixed rate
6.41% comparison rate
Complete Home Loan
AMP Bank
5.99%
Fixed rate
6.97% comparison rate
Professional Package
Online only lenders
Digital home loans are offered by banks and lenders that do not have branch access or employ staff to meet with customers in person. The trade-off is that you get cheaper interest rates and pay lower ongoing fees, but you will also face stricter lending policies. To get approved for a digital home loan, you generally need to be a “vanilla” customer with a PAYG job and buying a standard residential property.
loans.com.au
5.69%
Fixed rate
6.16% comparison rate
Fixed Home Loan
Ubank
5.79%
Fixed rate
6.23% comparison rate
Flex Home Loan
Tiimely Home
5.94%
Variable rate
5.95% comparison rate
Refinance & Purchase
Tiimely Home
5.94%
Fixed rate
5.98% comparison rate
Refinance & Purchase
loans.com.au
5.99%
Variable rate
6.51% comparison rate
Green Home Loan Intro
Unloan
5.99%
Variable rate
5.90% comparison rate
Home Loan
Ubank
6.09%
Variable rate
6.11% comparison rate
Neat Home Loan
Athena
6.24%
Variable rate
6.24% comparison rate
Straight Up
Sucasa
6.30%
Variable rate
6.58% comparison rate
Ultra Low Rate
Athena
6.64%
Fixed rate
6.17% comparison rate
Home Loan
Mutual banks and credit unions
Mutual banks, credit unions, and buildings societies all fall into the customer-owned banking sector in Australia. Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved.
Police Credit Union
5.49%
Fixed rate
6.97% comparison rate
Fixed Home Loan
Geelong Bank
5.50%
Fixed rate
6.99% comparison rate
Fixed Home Loan
Horizon Bank
5.64%
Fixed rate
6.33% comparison rate
Rate Home Loan
IMB
5.69%
Fixed rate
6.23% comparison rate
Home Loan
The Mac
5.69%
Fixed rate
7.53% comparison rate
Standard Home Loan
Bank Australia
5.69%
Fixed rate
6.37% comparison rate
Clean Energy Eco Plus Home Loan
ME
5.69%
Fixed rate
6.50% comparison rate
Member Package Flexible
Australian Mutual Bank
5.74%
Fixed rate
6.31% comparison rate
Home Loan
The Capricornian
5.74%
Fixed rate
7.31% comparison rate
Premium Choice
Auswide Bank
5.74%
Fixed rate
6.65% comparison rate
Freedom Package