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The lowest advertised rates for your deposit size

Eden Radford avatar
Eden Radford
- 3 min read
The lowest advertised rates for your deposit size

Picking the right home loan includes factoring in your circumstances, your financial goals, and what’s a realistic loan for you. It’s also all about finding a competitive rate.

A number of factors can affect the interest rate you can get, with the deposit size you bring to the bank one of the most important.

Those who have been paying down their debt for a number of years are likely to have a decent amount of equity, so if they refinance or upgrade, they’ll have a bigger deposit.

To help your comparison journey, we’ve pulled the lowest home loan rates per deposit size from over 100 home loan products on the RateCity database.

These rates, which are for owner-occupiers paying principal and interest, have been listed based on their advertised rate - but remember there are a number of different factors that go into choosing a loan, so make sure to compare across different lenders to find what’s right for you.

Lowest advertised variable rates for 50% deposit

LenderNameAdvertised rate
Abal BankThe Basics Low Rate Home Loan Offer5.75%
G&C Mutual BankEssential Worker Home Loan5.80%
Pacific Mortgage GroupStandard Variable Home Loan5.89%
Challenger Basic Variable Home Loan5.89%
The Mutual BankBudget Home Loan Special5.89%

Source: RateCity.com.au. Data accurate as at 23/02/202. Note: Excludes FHB specials and green loans

Lowest advertised variable rates for 40% deposit

LenderNameAdvertised rate
G&C Mutual BankEssential Worker Home Loan5.80%
Pacific Mortgage GroupStandard Variable Home Loan5.89%
The Mutual BankBudget Home Loan Special5.89%
Greater BankGreat Rate Variable Home Loan *5.94%
Tiimely HomeLive-in Variable Loan Home Loan5.94%

Source: RateCity.com.au. Data accurate as at 23/02/202. Note: Excludes FHB specials and green loans. * (NSW, ACT & QLD only)

Lowest advertised variable rates for 20% deposit

LenderNameAdvertised rate
G&C Mutual BankEssential Worker Home Loan5.80%
Bank of Heritage IsleFirst Home Loan5.84%
Pacific Mortgage GroupStandard Variable Home Loan5.89%
The Mutual BankBudget Home Loan Special5.89%
G&C Mutual BankFirst Home Buyer Loan Special5.90%

Source: RateCity.com.au. Data accurate as at 23/02/202. Note: Includes FHB specials but excludes green loans

Lowest advertised variable rates for 10% deposit

LenderNameAdvertised rate
G&C Mutual BankEssential Worker Home Loan5.80%
Bank of Heritage IsleFirst Home Loan5.84%
G&C Mutual BankFirst Home Buyer Loan Special5.90%
The MacLow LVR Home Loan5.92%
Tiimely HomeLive-in Variable Loan Home Loam5.94%

Source: RateCity.com.au. Data accurate as at 23/02/202. Note: Includes FHB specials but excludes green loans.

Compare home loans in Australia

Product database updated 19 Apr, 2024

This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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