Important disclosure
Compare home loans from the big four banks
Compare home loans from Australia’s four biggest banks: ANZ, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac. Find out who offers competitive interest rates, plus the features and benefits that may suit you.

Neat Home Loan
3.64
% p.a
Variable
3.66
% p.a
A straightforward home loan with a low variable rate, unlimited extra repayments with redraw, and no ongoing fees.
Find and compare big four bank home loans
Product Premier Advantage Package Real Time Rating™ | Interest Rate 4.44 % p.a Variable | Comparison Rate* 4.82 % p.a | Company | Repayment $1,657 monthly | Features Redraw facility Offset Account Borrow up to 70% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Premier Advantage Package Real Time Rating™ | Interest Rate 5.13 % p.a Variable | Comparison Rate* 5.50 % p.a | Company | Repayment $1,283 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Standard Variable Loan Real Time Rating™ | Interest Rate 5.29 % p.a Variable | Comparison Rate* 4.97 % p.a | Company | Repayment $1,323 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Rewards Earn 300,000 Qantas Points for eligible home loans over $300k ~ Ends in 2 days | ||
Product Standard Variable Loan Real Time Rating™ | Interest Rate 5.49 % p.a Variable | Comparison Rate* 5.17 % p.a | Company | Repayment $1,373 monthly | Features Redraw facility Offset Account Borrow up to 95% Extra Repayments Interest Only Owner Occupied | Go to site | Rewards Earn 300,000 Qantas Points for eligible home loans over $300k ~ Ends in 2 days | ||
Product Standard Variable Real Time Rating™ | Interest Rate 6.09 % p.a Variable | Comparison Rate* 6.16 % p.a | Company | Repayment $1,523 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Premier Advantage Package Real Time Rating™ | Interest Rate 4.54 % p.a Variable | Comparison Rate* 4.92 % p.a | Company | Repayment $1,674 monthly | Features Redraw facility Offset Account Borrow up to 95% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Rocket Repay Home Loan Real Time Rating™ | Interest Rate 6.32 % p.a Variable | Comparison Rate* 6.45 % p.a | Company | Repayment $1,580 monthly | Features Redraw facility Offset Account Borrow up to 70% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Rocket Repay Home Loan Real Time Rating™ | Interest Rate 6.42 % p.a Variable | Comparison Rate* 6.55 % p.a | Company | Repayment $1,605 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Standard Variable Real Time Rating™ | Interest Rate 6.79 % p.a Variable | Comparison Rate* 6.64 % p.a | Company | Repayment $1,698 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Standard Variable Loan Real Time Rating™ | Interest Rate 4.74 % p.a Variable | Comparison Rate* 4.75 % p.a | Company | Repayment $1,709 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Rewards Earn 300,000 Qantas Points for eligible home loans over $300k ~ Ends in 2 days | ||
Product Extra Home Loan Real Time Rating™ | Interest Rate 4.35 % p.a Variable | Comparison Rate* 4.02 % p.a | Company | Repayment $1,088 monthly | Features Redraw facility Offset Account Borrow up to 70% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Extra Home Loan Real Time Rating™ | Interest Rate 4.45 % p.a Variable | Comparison Rate* 4.12 % p.a | Company | Repayment $1,113 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Premier Advantage Package Real Time Rating™ | Interest Rate 4.99 % p.a Fixed - 1 year | Comparison Rate* 5.59 % p.a | Company | Repayment $1,248 monthly | Features Redraw facility Offset Account Borrow up to 70% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Extra Home Loan Real Time Rating™ | Interest Rate 3.89 % p.a Variable | Comparison Rate* 3.90 % p.a | Company | Repayment $1,565 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Cashback $2,000 cashback when you switch your home loan to us. ~ Ends in 5 months | ||
Product Premier Advantage Package Real Time Rating™ | Interest Rate 5.25 % p.a Variable | Comparison Rate* 5.62 % p.a | Company | Repayment $1,313 monthly | Features Redraw facility Offset Account Borrow up to 70% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Premier Advantage Package Real Time Rating™ | Interest Rate 5.35 % p.a Variable | Comparison Rate* 5.71 % p.a | Company | Repayment $1,338 monthly | Features Redraw facility Offset Account Borrow up to 90% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Choice Package Real Time Rating™ | Interest Rate 5.99 % p.a Variable | Comparison Rate* 6.01 % p.a | Company | Repayment $1,498 monthly | Features Redraw facility Offset Account Borrow up to 80% Extra Repayments Interest Only Owner Occupied | Go to site | Cashback $2,000 cashback when you refinance a loan of $250,000 or more | ||
Product Standard Variable Real Time Rating™ | Interest Rate 5.60 % p.a Variable | Comparison Rate* 5.99 % p.a | Company | Repayment $1,860 monthly | Features Redraw facility Offset Account Borrow up to 95% Extra Repayments Interest Only Owner Occupied | Go to site | |||
Product Basic Variable Rate (Flexi First Option) Home Loan Real Time Rating™ Winner of Best Small Deposit Home Loan, RateCity Gold Awards 2022 | Interest Rate 3.24 % p.a Intro 24 months | Comparison Rate* 3.58 % p.a | Company | Repayment $1,524 monthly | Features Redraw facility Offset Account Borrow up to 95% Extra Repayments Interest Only Owner Occupied | Go to site | Winner of Best Small Deposit Home Loan, RateCity Gold Awards 2022 | ||
Product Standard Variable Loan Real Time Rating™ | Interest Rate 4.94 % p.a Variable | Comparison Rate* 4.95 % p.a | Company | Repayment $1,743 monthly | Features Redraw facility Offset Account Borrow up to 95% Extra Repayments Interest Only Owner Occupied | Go to site | Rewards Earn 300,000 Qantas Points for eligible home loans over $300k ~ Ends in 2 days |
What are the big four banks?
In Australia, around 75 per cent of all home loan customers belong to one of four major banks – also known as the big four banks (B4Bs). These include Commonwealth Bank, Westpac, NAB and ANZ.
These are the largest banks in the country and carry a wide range of credit products not just including home loans, such as credit cards, personal loans, term deposit accounts, savings accounts and bank accounts. Due to their wide reach across the country, the B4Bs offer greater access to customer service tools such as ATMs and branches.
The B4Bs are Authorised Deposit taking Institutions (ADIs) and deposits into these banks are protected under the Financial Claims Scheme. Because of this, their size, and the number of customers on their books, B4Bs are perceived as being a safer and more reliable place to take out a home loan or store your money.
How many Australians have mortgages with the big four banks?
While this figure may fluctuate, generally the big four banks hold around 75 per cent of all mortgage customers in Australia. The remaining 25 per cent of home loan customers are distributed amongst B4B subsidiaries, such as St. George, Bankwest and Suncorp, as well as credit unions, building societies, online lenders, neobanks and more.
Why should I get a home loan from the big four banks?
Applying for a mortgage from one of the big four banks is often one of the simplest ways to get a home loan. Many Australian homeowners already do their banking with one of these well-established financial institutions, so simply talking to your local bank manager can be a convenient way to apply for a mortgage, as can calling your bank or applying online. And with all of your savings and loans in one place, managing your personal budget can be less stressful.
Additionally, thanks to the large size and long history of the big four banks, they have built up widespread networks and plenty of resources to provide more services to a wide range of home loan customers, from first home buyers to investors. Many Australians choose to put their trust in these well-established banks to not only manage their savings, but their home loan as well.
What are the main features of home loans from the big four banks?
Major banks are often in a position to offer a wide range of home loan options, with features to suit different types of borrowers. Simple and straightforward bank home loans may offer low interest rates and fees for borrowers who prefer to keep their costs down and their budgeting simple.
Other loans offer a variety of flexible features and benefits, such as extra loan repayments, redraw facilities, or offset accounts, which can be very useful to certain borrowers under the right circumstances. And of course, there are fixed rate and variable rate options for owner occupiers and investors, whether they’re paying principal and interest or interest only.
As major banks also offer a range of other financial services, you may be able to opt for a home loan bundle. These package deals let you combine a home loan with a transaction account, credit card, and/or other financial products and services. These are often offered at a discount, with one annual fee covering the lot. These home loan packages could appeal to certain borrowers, such as if you’re planning to refinance a home loan and switch from a different bank.
Also, the big banks may be able to offer Aussie customers a variety of special offers on their home loan products. These could include discounted introductory home loan rates, or even cashback deals, which could provide extra value to the right customer.
Do the Big Four offer the lowest bank mortgage rates?
The big four banks often set the industry standard for home loans and are subject to market fluctuation as determined by the Australian economy and the Reserve Bank of Australia's (RBA) cash rate. That said, they still compete with one another, offering low-interest home loans and special mortgage deals.
The major banks also compete with smaller banks and non-bank lenders, including online-based lenders and app-based neobanks. Sometimes these smaller mortgage lenders can offer cheaper home loan rates than the big four. This is often because these smaller banks have smaller branch networks, or don’t have branches at all. With fewer overhead costs to manage, they can charge less interest and lower ongoing fees for their home loans.
Of course, it’s also worth keeping in mind that a lower rate doesn’t always mean a better home loan. It’s also important to considers the features, benefits, and fees involved.
Some smaller banks don’t have the resources available to offer as many of the value-adding features and benefits that bigger banks provide. Of course, the more features and benefits a home loan offers, the more likely it is to charge higher fees, which can quickly push up the total cost of even a low-rate home loan.
To quickly get an idea of a home loan’s overall cost, consider checking the comparison rate, which combines a home loan’s interest rate with its standard fees and charges. Also compare its features and benefits to get an idea of the value it could offer you.
Pros and cons of a big four bank mortgage
That being said, let’s break down some of the key advantages and disadvantages of taking out a mortgage with one of the big four banks.
Pros of a big four bank mortgage:
- Security – B4Bs are the largest banks in the country and because of this they may carry less risk than a smaller lender of going under. They’re also backed by the Financial Claims Scheme meaning that in the unlikely event this occurred, funds up to the value of $250,000 are protected.
- Access to services – B4Bs have the greatest number of branches and ATMs across the country as they need to service a larger portion of the population. Unlike smaller lenders who may be limited to servicing Sydney or Melbourne, the B4B are based nation-wide. For customers who rely on face-to-face service, such as the elderly or those with a disability, as well as those living in rural areas, this access to services can be particularly useful when applying for and paying off a mortgage.
- Variety of products – Some Aussies like to keep all their financial products with the one lender for convenience’s sake. If you take out a home loan with a B4B, chances are it will also provide all the other products you’re interested in, such as bank accounts, credit cards and more. For mortgage customers, you’re more likely to be able to access packaged home loan deals because of this.
Cons of a big four bank mortgage:
- Higher rates and fees – Generally speaking, big four bank mortgage interest rates and fees may be higher than those offered by smaller, competitor lenders. This is because the big banks have greater overheads than the smaller lenders, such as branches, with the smaller lenders with lower overheads being able to pass on these savings to their customers.
- Slower innovation – Some smaller home loan lenders – particularly online lenders and neobanks – can remain competitive by providing state of the art fintech to their customers. B4Bs in Australia may be slower on the uptake due to the greater amount of red tape innovation needs to cut through to be approved.
Should I get a home loan with the big four banks?
Whether you're buying or refinancing, if a home loan from the big four banks offers features and benefits that suit your needs, and you can comfortably afford the interest and fees, it could be an option worth considering. This could be especially true if you’re looking for a bundle deal to also manage your banking, credit cards and other financial services.
Before you drop into your local bank branch though, it’s worth comparing a few other home loans, both from the big banks and other mortgage lenders. There may be mortgage options out there that could better suit your needs and financial situation.
If you’re not sure whether a home loan from the big four banks could be right for you, consider contacting a mortgage broker. These home loan experts can help you compare different home loan options, and walk you through the application process to help save you time and effort.