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First Option Bank home loans

First Option Bank is a member-owned mutual bank that was founded in 1965. The ‘First Option Credit Union’ name emerged in 2005 after a merger between TAB Credit Union and Flying Horse Credit Union. Previously, several other smaller industry-based credit unions had been merged into what is now known as First Option Bank.

As a mutual bank, its members are its shareholders and profits re-invested into the business. While it was initially created to serve employees of some well-known Australian companies, it is now open to everyone.

It provides a variety of financial services, including home loans, car loans, personal loans, savings and transaction accounts, insurance and financial planning.

First Option Home Loan Calculator  
Interested in a First Option home loan? RateCity has a suite of calculators that can show you what your repayments would be and how First Option compares to its competitors. Simply plug in your borrowing amount below.

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Why choose First Option Bank


  • Flexible loan options.
  • Multiple points of contact.
  • Rate discounts available.


  • Limited branch network.

First Option Bank Home Loans

Home Loans calculator

Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.

25 years

Your estimated mortgage repayments


at interest rate 5%

Total interest payable


Total loan repayments


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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.