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Pros and cons

  • Flexible home loan products.
  • Multiple points of contact.
  • Low deposit requirements.
  • Moderate to high fees for some features.

Owner occupied products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
Variable Rate Home Loans (Min Deposit 40%)
2.29% p.a.
2.32% p.a. Comparison rate
n/a
Variable Rate Home Loans (Min Deposit 20%)
2.49% p.a.
2.52% p.a. Comparison rate
n/a
Total Home Loan Package (Min Deposit 40%)
2.39% p.a.
2.82% p.a. Comparison rate
n/a
Total Home Loan Package (Min Deposit 20%)
2.59% p.a.
3.02% p.a. Comparison rate
n/a
Total Home Loan Package (Min Deposit 10%)
3.8% p.a.
4.21% p.a. Comparison rate
n/a
Total Home Loan Package (Min Deposit 5%)
2.9% p.a.
3.32% p.a. Comparison rate
n/a
3 Year Total Home Loan Package (Min Deposit 20%)
2.59% p.a.
3.78% p.a. Comparison rate
n/a
3 Year First Home Buyers Total Home Loan Package Fixed (Min Deposit 5%)
2.79% p.a.
3.83% p.a. Comparison rate
n/a
3 Year Total Home Loan Package (Min Deposit 10%)
2.79% p.a.
3.83% p.a. Comparison rate
n/a
5 Year Total Home Loan Package (Min Deposit 20%)
3.29% p.a.
3.83% p.a. Comparison rate
n/a
2 Year Total Home Loan Package (Min Deposit 10%)
2.59% p.a.
3.86% p.a. Comparison rate
n/a
2 Year First Home Buyers Total Home Loan Package Fixed (Min Deposit 5%)
2.59% p.a.
3.86% p.a. Comparison rate
n/a
4 Year Total Home Loan Package (Min Deposit 20%)
3.09% p.a.
3.86% p.a. Comparison rate
n/a
5 Year Total Home Loan Package (Min Deposit 10%)
3.29% p.a.
3.9% p.a. Comparison rate
n/a
1 Year Total Home Loan Package (Min Deposit 20%)
2.39% p.a.
3.93% p.a. Comparison rate
n/a
2 Year Total Home Loan Package (Min Deposit 20%)
2.39% p.a.
3.93% p.a. Comparison rate
n/a
4 Year Total Home Loan Package (Min Deposit 10%)
3.29% p.a.
3.93% p.a. Comparison rate
n/a
1 Year Total Home Loan Package (Min Deposit 10%)
2.59% p.a.
3.95% p.a. Comparison rate
n/a
1 Year First Home Buyers Total Home Loan Package Fixed (Min Deposit 5%)
2.59% p.a.
3.95% p.a. Comparison rate
n/a
3 Year Fixed Rate Home Loans (Min Deposit 10%)
3.24% p.a.
4.18% p.a. Comparison rate
n/a
5 Year Fixed Rate Home Loans (Min Deposit 10%)
3.74% p.a.
4.2% p.a. Comparison rate
n/a
2 Year Fixed Rate Home Loans (Min Deposit 10%)
3.04% p.a.
4.24% p.a. Comparison rate
n/a
4 Year Fixed Rate Home Loans (Min Deposit 10%)
3.74% p.a.
4.25% p.a. Comparison rate
n/a
1 Year Fixed Rate Home Loans (Min Deposit 10%)
3.04% p.a.
4.36% p.a. Comparison rate
n/a
Variable Rate Home Loans (Min Deposit 10%)
4.6% p.a.
4.65% p.a. Comparison rate
n/a

Investment purpose products interest rates

TMD

Loan typePrincipal & Interest rateInterest Only
Total Home Loan Package (Min Deposit 10%)
4.09% p.a.
4.5% p.a. Comparison rate
4.24% p.a.
4.63% p.a. Comparison rate
2 Year Total Home Loan Package (Min Deposit 10%)
2.69% p.a.
4.11% p.a. Comparison rate
2.99% p.a.
4.4% p.a. Comparison rate
5 Year Total Home Loan Package (Min Deposit 10%)
2.89% p.a.
3.92% p.a. Comparison rate
3.19% p.a.
4.21% p.a. Comparison rate
4 Year Total Home Loan Package (Min Deposit 10%)
2.89% p.a.
3.99% p.a. Comparison rate
3.19% p.a.
4.28% p.a. Comparison rate
3 Year Total Home Loan Package (Min Deposit 10%)
2.69% p.a.
4.01% p.a. Comparison rate
2.99% p.a.
4.3% p.a. Comparison rate
3 Year Fixed Rate Home Loans (Min Deposit 10%)
3.24% p.a.
4.39% p.a. Comparison rate
3.24% p.a.
4.39% p.a. Comparison rate
1 Year Total Home Loan Package (Min Deposit 10%)
2.69% p.a.
4.22% p.a. Comparison rate
2.99% p.a.
4.51% p.a. Comparison rate
2 Year Fixed Rate Home Loans (Min Deposit 10%)
3.24% p.a.
4.51% p.a. Comparison rate
3.24% p.a.
4.51% p.a. Comparison rate
5 Year Fixed Rate Home Loans (Min Deposit 10%)
3.44% p.a.
4.25% p.a. Comparison rate
3.74% p.a.
4.55% p.a. Comparison rate
1 Year Fixed Rate Home Loans (Min Deposit 10%)
3.24% p.a.
4.64% p.a. Comparison rate
3.24% p.a.
4.64% p.a. Comparison rate
4 Year Fixed Rate Home Loans (Min Deposit 10%)
3.44% p.a.
4.34% p.a. Comparison rate
3.74% p.a.
4.64% p.a. Comparison rate
Variable Rate Home Loans (Min Deposit 20%)
2.59% p.a.
2.62% p.a. Comparison rate
n/a
Total Home Loan Package (Min Deposit 20%)
3.2% p.a.
3.61% p.a. Comparison rate
n/a
Variable Rate Home Loans (Min Deposit 10%)
4.74% p.a.
4.78% p.a. Comparison rate
n/a

Home loan repayment calculator

Thinking about taking out a home loan with Beyond Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Beyond Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 2.19%

Total interest payable

$0

Total loan repayments

$0

Beyond Bank Australia customer service

Beyond Bank has a moderate branch network and a call centre open six days per week. It also offers online banking services 24/7, mobile banking services and live chat. Beyond Bank has branches in NSW, SA, WA, ACT and VIC.

  • Customer service centre (phone) – open 6 days a week
  • Phone banking available
  • Live Chat
  • Online banking
  • Email
  • Branch
  • Mobile banking staff
  • Mobile apps

How to Apply

Beyond Bank customers can apply for a home loan online or seek assistance from a customer service representative by phone, email or chat. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification material.
  • Proof of income and other earnings.
  • Proof and type of employment.
  • Details of current loans, debts and liabilities.
  • Personal insurance documents.

About Beyond Bank Australia home loans

Beyond Bank Australia home loans are suited to a variety of mortgage customers:

  • First home buyers
  • Upgraders
  • Investors
  • Refinancers
  • Renovators

Borrowers who take out Beyond Bank Australia home loans can choose from a variety of interest rate options:

  • Principal-and-interest home loans
  • Interest-only home loans
  • Variable interest rates
  • Fixed interest rates
  • Split loans

Beyond Bank Australia mortgages have maximum loan terms of 30 years. Additional repayments are allowed on some products. Depending on the Beyond Bank home loan you choose, you may also be offered offset accounts and redraw facilities.

Mortgage borrowers may also enjoy special discounts by combining a Beyond Bank Australia home loan with another Beyond Bank product, such as low-rate credit cards.

Beyond Bank Australia home loan rates tend to be in the middle of the spectrum, ranging between moderately low and moderately high. Fees vary from product to product, with some waiving establishment fees.

Beyond Bank Australia home loan rates

Beyond Bank Australia home loan rates vary from product to product, but generally tend to be middle of the market. Generally speaking, they don’t offer the lowest rates, but their rates are lower than those charged by the big banks.

As a challenger lender, Beyond Bank must find ways to stand out from Australia’s big four banks. Their need to differentiate is one reason they offer lower rates. Another reason is that the bank is owned by its customers rather than shareholders, which means it doesn’t have the same imperative to maximise profits.

Beyond Bank Australia has a range of home loan products that each come with unique interest rates. As a general rule, owner-occupiers are given lower interest rates than investors and variable loans are cheaper than fixed-rate loans. Interest rates can be fixed for up to five years; generally, the rate will go up as the term lengthens.

Beyond Bank Australia home loans review

Beyond Bank Australia is not one of Australia’s big four banks, and therefore it doesn’t provide the same range of home loan products as its larger competitors. It does, however, tend to charge lower rates than the big four banks.

Beyond Bank Australia home loan rates tend to be moderately low to moderate, with owner-occupier loans leaning toward the moderately low range. Investors who pay principal and interest on their variable home loan can typically find moderately low rates as well.

While Beyond Bank’s rates are generally on the cheaper end of the spectrum, its fees are more likely to be moderate than market-leading. Both upfront and ongoing fees typically sit within the moderate to moderately high range. These fees include one-off establishment fees, settlement fees and monthly account-keeping fees.

Learn more about home loans

When does Commonwealth Bank charge an early exit fee?

When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

  • If you switch your loan from fixed interest to variable rate
  • When you apply for a top-up home loan
  • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
  • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

Why does Westpac charge an early termination fee for home loans?

The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

What are the features of home loans for expats from Westpac?

If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

Cash or mortgage – which is more suitable to buy an investment property?

Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

How can I apply for a first home buyers loan with Commonwealth Bank?

Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

What are the different types of home loan interest rates?

A home loan interest rate is used to calculate how much you’ll pay the lender, usually annually, above the amount you borrow. It’s what the lenders charge you for them lending you money and will impact the total amount you’ll pay over the life of your home loan. 

Having understood what are home loan rates in general, here are the two types you usually have with a home loan:

Fixed rates

These interest rates remain constant for a specific period and are a good option if you’re a first-time buyer or if you’re looking for a fixed monthly repayment. One possible downside of a fixed rate is that it may be higher than a variable rate. Also, you don’t benefit from any lowering of interest rates in the market. On the flip side, if rates go up, your rate won’t change, possibly saving you money.

Variable rates

With variable interest rates, the lender can change them at any time. This change can be based on economic conditions or other reasons. Changes in interest rates could be beneficial if your monthly repayment decreases but can be a problem if it increases. Variable interest rates offer several other benefits often not available with fixed rate home loans like redraw and offset facilities and free extra repayments. 

How to apply for a pre-approval home loan from Bendigo Bank?

Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork. 

Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home. 

With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances. 

To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

How do you compare home loans?

To compare home loans, you can assess the components of the loan against your own financial situation and other mortgages in the market.

Look at the interest rate, rate type (fixed or variable), loan fees, features, loan term, repayment frequency and more to find a home loan that fits with your budget and property goals.

Then, use comparison tools like comparison tables, calculators, or RateCity's Real Time RatingsTM to create a short list of home loan options, and decide which home loan best suits your needs.

Are fixed rates or variable rates cheaper?

Fixed and variable home loan interest rates are discretionary based on the lender’s decision. They will also be influenced by the Australian economy, as well as the Reserve Bank of Australia’s cash rate. The specific interest rate you may be offered will also depend on your credit history and financial situation.

Whether a fixed or variable rate home loan is the cheaper option for you will depend on all the above, and may still fluctuate over a 25-year home loan term. Therefore, it’s worth comparing your loan options with our comparison tables to see how the rates compare, based on your specific financial needs.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

What is a home loan?

A home loan is a finance product that allows a home buyer to borrow a large sum of money from a lender for the purchase of a residential property. The home is then put up as "security" or "collateral" on the loan, giving the lender the right to repossess the property in the case that the borrower fails to repay their loan.

Once you take out a home loan, you'll need to repay the amount borrowed, plus interest, in regular instalments over a predetermined period of time.

The interest you're charged on each mortgage repayment is based on your remaining loan amount, also known as your loan principal. The rate at which interest is charged on your home loan principal is expressed as a percentage.

Different home loan products charge different interest rates and fees, and offer a range of different features to suit a variety of buyers’ needs.

Does the Home Loan Rate Promise apply to discounted interest rate offers, such as honeymoon rates?

No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Home Loan Rate Promise.

However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Do you compare mortgages using the comparison or advertised rate?

A lot of Australians compare home loans using the advertised interest rate, which indicates how much interest you’ll be charged on your mortgage repayments. The lower your rate, the cheaper your home loan should be.

However, interest charges aren’t the only cost associated with home loans. Most mortgage lenders also charge fees on their home loans. A mortgage with a low interest rate and high fees can sometimes cost more than a mortgage with a high interest rate and low fees.

A home loan’s comparison rate combines the cost of interest with the cost of standard fees and charges into a single percentage rate. Mortgage lenders are required to display a comparison rate alongside their advertised rate to better indicate the home loan’s overall cost.

Keep in mind that to ensure consistency, all comparison rates are calculated assuming a $150,000 principal and interest mortgage with a 25 year term. As your home loan may be different, the comparison rate may not accurately reflect exactly how much your home loan may cost. Also, the comparison rate doesn’t include every home loan fee and charge, so it’s still important to compare home loans and read the fine print before you apply.