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Pros and cons

  • Award-winning customer service
  • Opportunity to bundle the loan with other financial products
  • Flexible loan options
  • Competitive interest rates
  • No low doc option
  • Only available for properties in NSW, ACT and QLD

Owner occupied Greater Bank home loan rates


Loan typePrincipal & Interest rateInterest Only
Great Rate (Min Deposit 10%)
4.41% p.a.
4.42% p.a. Comparison rate
4.51% p.a.
4.02% p.a. Comparison rate
Ultimate packaged
4.21% p.a.
4.61% p.a. Comparison rate
3.09% p.a.
3.52% p.a. Comparison rate
Investment Ultimate packaged
4.31% p.a.
4.22% p.a. Comparison rate
1 Year Great Rate (Min Deposit 10%)
4.69% p.a.
4.45% p.a. Comparison rate
4.79% p.a.
4.46% p.a. Comparison rate
2 Year Great Rate (Min Deposit 10%)
5.29% p.a.
4.58% p.a. Comparison rate
1 Year Ultimate packaged
4.69% p.a.
4.66% p.a. Comparison rate
4.79% p.a.
4.67% p.a. Comparison rate
3 Year Great Rate (Min Deposit 10%)
5.59% p.a.
4.74% p.a. Comparison rate
2 Year Ultimate packaged
5.19% p.a.
4.79% p.a. Comparison rate
5.29% p.a.
4.81% p.a. Comparison rate
4 Year Great Rate (Min Deposit 10%)
5.79% p.a.
4.9% p.a. Comparison rate
3 Year Ultimate packaged
5.49% p.a.
4.95% p.a. Comparison rate
5.59% p.a.
4.98% p.a. Comparison rate
Line of Credit (Min Deposit 20%)
4.65% p.a.
5.05% p.a. Comparison rate
5 Year Great Rate (Min Deposit 10%)
5.99% p.a.
5.09% p.a. Comparison rate
4 Year Ultimate packaged
5.69% p.a.
5.12% p.a. Comparison rate
5.79% p.a.
5.16% p.a. Comparison rate
5 Year Ultimate packaged
5.89% p.a.
5.32% p.a. Comparison rate
5.99% p.a.
5.36% p.a. Comparison rate
2 Year Great Rate (Min Deposit 5%)
5.19% p.a.
4.57% p.a. Comparison rate
4 Year Great Rate (Min Deposit 5%)
5.69% p.a.
4.87% p.a. Comparison rate
5 Year Great Rate (Min Deposit 5%)
5.89% p.a.
5.05% p.a. Comparison rate

Investment purpose Greater Bank home loan rates


Loan typePrincipal & Interest rateInterest Only
Investment Great Rate (Min Deposit 20%)
2.89% p.a.
2.9% p.a. Comparison rate
2.99% p.a.
3.01% p.a. Comparison rate
Investment Ultimate packaged
4.59% p.a.
4.98% p.a. Comparison rate
4.69% p.a.
4.59% p.a. Comparison rate
Investment Great Rate (Min Deposit 10%)
4.79% p.a.
4.8% p.a. Comparison rate
4.89% p.a.
4.4% p.a. Comparison rate
1 Year Investment Great Rate (Min Deposit 10%)
4.89% p.a.
4.81% p.a. Comparison rate
2 Year Investment Great Rate (Min Deposit 10%)
5.39% p.a.
4.91% p.a. Comparison rate
1 Year Investment Ultimate packaged
4.89% p.a.
5.01% p.a. Comparison rate
3 Year Investment Great Rate (Min Deposit 10%)
5.69% p.a.
5.05% p.a. Comparison rate
2 Year Investment Ultimate packaged
5.39% p.a.
5.13% p.a. Comparison rate
4 Year Investment Great Rate (Min Deposit 10%)
5.99% p.a.
5.22% p.a. Comparison rate
3 Year Investment Ultimate packaged
5.69% p.a.
5.28% p.a. Comparison rate
5 Year Investment Great Rate (Min Deposit 10%)
6.09% p.a.
5.36% p.a. Comparison rate
4 Year Investment Ultimate packaged
5.99% p.a.
5.47% p.a. Comparison rate
5 Year Investment Ultimate packaged
6.09% p.a.
5.62% p.a. Comparison rate

Greater Bank home loan calculator

Thinking about taking out a home loan with Greater Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Greater 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 2.79%

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Total loan repayments


Greater Bank customer service

Greater Bank customers with general enquiries can contact the customer support centre six days a week and home loan customers have a direct line to the loan centre. In addition to round the clock telephone banking, Greater Bank customers can email the fraud prevention department at any time. Greater Bank customers can also contact support via the live chat function or by visiting a NSW or QLD branch.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch
  • Mobile banking staff

How to apply for a Greater Bank home loan

Borrowers wanting to apply for a Greater Bank loan can do so by contacting the bank directly, filling out an online application form or calling the bank’s loan hotline. 

Before applying for a Greater Bank home loan, consider what you can afford to borrow and what other costs you need to include. 

To apply for a Greater Bank loan, you will need to supply the following information:

  • Personal identity information.
  • Proof of income and employment.
  • Details of your current debts, liabilities and assets.

Note: only available for properties in NSW, ACT and QLD.

Greater Bank home loans review

As a customer-owned bank, Greater Bank is able to reinvest its profits to benefit its customers, including offering competitive interest rates. Fixed, variable and split interest rate options are available for owner occupiers and investors, paying principal and interest or interest only. Refinancers may also be able to benefit from a fast refinance option.

Greater Bank has mortgage options available for self-employed borrowers. Borrowers that are short on their deposit (such as some first home buyers) may still be able to get a home loan from Greater Bank if a family member can guarantee the loan with their own property as security.  Construction and land loans are also available, as are reverse mortgages and lines of credit.

While Greater Bank home loans are available with no ongoing fees, an annual package fee may apply if you choose to bundle your loan with other financial products from Greater Bank.

Greater Bank offers home loans with additional repayments and unlimited free redraws. Repayment holiday options are also available. Selected home loans also offer the option of multiple offset accounts.

Learn more about home loans

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.

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 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.

When do mortgage payments start after settlement?

Generally speaking, your first mortgage payment falls due one month after the settlement date. However, this may vary based on your mortgage terms. You can check the exact date by contacting your lender.

Usually your settlement agent will meet the seller’s representatives to exchange documents at an agreed place and time. The balance purchase price is paid to the seller. The lender will register a mortgage against your title and give you the funds to purchase the new home.

Once the settlement process is complete, the lender allows you to draw down the loan. The loan amount is debited from your loan account. As soon as the settlement paperwork is sorted, you can collect the keys to your new home and work your way through the moving-in checklist.

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. 

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

How do I find out my current interest rate and how much is owing on my loan?

Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

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.

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.

How do I apply for a home improvement loan?

When you want to renovate your home, you may need to take out a loan to cover the costs. You could apply for a home improvement loan, which is a personal loan that you use to cover the costs of your home renovations. There is no difference between applying for this type of home improvement loan and applying for a standard personal loan. It would be best to check and compare the features, fees and details of the loan before applying. 

Besides taking out a home improvement loan, you could also:

  1. Use the equity in your house: Equity is the difference between your property’s value and the amount you still owe on your home loan. You may be able to access this equity by refinancing your home loan and then using it to finance your home improvement.  Speak with your lender or a mortgage broker about accessing your equity.
  2. Utilise the redraw facility of your home loan: Check whether the existing home loan has a redraw facility. A redraw facility allows you to access additional funds you’ve repaid into your home loan. Some lenders offer this on variable rate home loans but not on fixed. If this option is available to you, contact your lender to discuss how to access it.
  3. Apply for a construction loan: A construction loan is typically used when constructing a new property but can also be used as a home renovation loan. You may find that a construction loan is a suitable option as it enables you to draw funds as your renovation project progresses. You can compare construction home loans online or speak to a mortgage broker about taking out such a loan.
  4. Look into government grants: Check whether there are any government grants offered when you need the funds and whether you qualify. Initiatives like the HomeBuilder Grant were offered by the Federal Government for a limited period until April 2021. They could help fund your renovations either in full or just partially.  

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 find cheap home loans?

With so many interest rate options and repayment types available, finding the cheapest home loan may depend on the type of loan you choose.

Whether you’re looking for an owner-occupier or investor loan, with interest-only or principal and interest repayments, on a fixed or variable interest rate, the cheapest home loan rate available may vary greatly.

One way to find the cheapest option for you is to narrow down your search and compare the options that best suit your individual requirements. RateCity’s home loan comparison tables can help you get started on your search and take the hassle out of shopping around.

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.

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.

Who sets mortgage rates?

Mortgage rates are influenced by the official cash rate, which is determined by the Reserve Bank of Australia (RBA) at its monthly board meeting on the first Tuesday of every month, except for January.

The official cash rate is the interest rate that banks charge other banks to borrow money. If the RBA cuts the cash rate, the interest rate banks are charged when they borrow from other banks is reduced. Likewise, if the cash rate is hiked, the interest rate banks are charged will go up.

If banks can save money from reduced interest rates, they will often pass on some or all of these savings to their variable rate home loan customers – although they are not required to. They can also choose to pass on a cash rate rise by increasing mortgage interest rates.