powering smart financial decisions

Pros and cons

  • Variety of home loan products.
  • Opportunity to bundle other financial products.
  • Caters for people with specific needs.
  • Offers discounts on the interest rate by packaging with the Value Advantage Loan.
  • Some products include fees.

Owner occupied products interest rates

Loan typePrincipal & Interest rateInterest Only
Essential Home Loan (Min Deposit 30%)
2.24% p.a.
2.3% p.a. Comparison rate
3.54% p.a.
3.6% p.a. Comparison rate
Essential Home Loan (Min Deposit 20%)
2.29% p.a.
2.35% p.a. Comparison rate
3.59% p.a.
3.65% p.a. Comparison rate
Fixed Rate Classic Home Loan (Min Deposit 20%)
4.19% p.a.
4.08% p.a. Comparison rate
Essential Home Loan (Min Deposit 10%)
3.84% p.a.
3.9% p.a. Comparison rate
Value Advantage Package (Min Deposit 30%)
3.24% p.a.
3.66% p.a. Comparison rate
3.84% p.a.
4.25% p.a. Comparison rate
Value Advantage Package (Min Deposit 20%)
3.29% p.a.
3.71% p.a. Comparison rate
3.69% p.a.
5.25% p.a. Comparison rate
Value Advantage Package (Min Deposit 5%)
5.64% p.a.
5.69% p.a. Comparison rate
4.14% p.a.
4.54% p.a. Comparison rate
Line of Credit packaged
4.51% p.a.
4.91% p.a. Comparison rate
Full feature home loan (Min Deposit 30%)
4.31% p.a.
4.37% p.a. Comparison rate
4.9% p.a.
4.96% p.a. Comparison rate
Full feature home loan (Min Deposit 20%)
4.36% p.a.
4.42% p.a. Comparison rate
4.95% p.a.
5.01% p.a. Comparison rate
Full feature home loan (Min Deposit 10%)
5.2% p.a.
5.27% p.a. Comparison rate
Line of Credit (Min Deposit 20%)
5.93% p.a.
6.22% p.a. Comparison rate
Fixed Rate Classic Home Loan (Min Deposit 5%)
5.64% p.a.
4.88% p.a. Comparison rate
Essential Home Loan (Min Deposit 5%)
2.54% p.a.
2.6% p.a. Comparison rate
Full feature home loan (Min Deposit 5%)
4.61% p.a.
4.67% p.a. Comparison rate

Investment purpose products interest rates

Loan typePrincipal & Interest rateInterest Only
Essential Home Loan (Min Deposit 30%)
2.54% p.a.
2.6% p.a. Comparison rate
2.94% p.a.
3% p.a. Comparison rate
Essential Home Loan (Min Deposit 20%)
2.59% p.a.
2.65% p.a. Comparison rate
2.99% p.a.
3.05% p.a. Comparison rate
Fixed Rate Classic Home Loan (Min Deposit 20%)
6.54% p.a.
5.77% p.a. Comparison rate
Essential Home Loan (Min Deposit 10%)
2.84% p.a.
2.9% p.a. Comparison rate
3.24% p.a.
3.3% p.a. Comparison rate
Value Advantage Package (Min Deposit 30%)
3.64% p.a.
4.05% p.a. Comparison rate
3.94% p.a.
4.35% p.a. Comparison rate
Value Advantage Package (Min Deposit 20%)
3.69% p.a.
4.1% p.a. Comparison rate
2.79% p.a.
5.35% p.a. Comparison rate
Value Advantage Package (Min Deposit 5%)
3.94% p.a.
4.35% p.a. Comparison rate
4.24% p.a.
4.64% p.a. Comparison rate
Full feature home loan (Min Deposit 30%)
4.82% p.a.
4.88% p.a. Comparison rate
5.11% p.a.
5.17% p.a. Comparison rate
Full feature home loan (Min Deposit 20%)
4.87% p.a.
4.93% p.a. Comparison rate
5.16% p.a.
5.23% p.a. Comparison rate
Full feature home loan (Min Deposit 10%)
5.12% p.a.
5.18% p.a. Comparison rate
5.41% p.a.
5.48% p.a. Comparison rate
Line of Credit (Min Deposit 10%)
5.93% p.a.
6.22% p.a. Comparison rate
Fixed Rate Classic Home Loan packaged
6.54% p.a.
6.8% p.a. Comparison rate
Fixed Rate Classic Home Loan (Min Deposit 10%)
5.89% p.a.
5.16% p.a. Comparison rate
Value Advantage Package (Min Deposit 10%)
5.89% p.a.
6.02% p.a. Comparison rate

Home loan repayment calculator

Thinking about taking out a home loan with RAMS? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how RAMS 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 1.99%

Total interest payable


Total loan repayments


RAMS customer service

Home Loan customers can contact RAMS by calling the customer service hotline seven days a week or by requesting a call back through the online contact form. They can also request a meeting with a local home loan specialist or by pop into one of the RAMS home loan centres.

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking
  • Mobile banking staff

How to Apply

Customers wanting to apply for a RAMS home loan can do so by filling out an online enquiry form, calling the hotline or by visiting a RAMS Home Loan centre. 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 may include:

  • Personal identification material.
  • Proof of income – whether you are self-employed or work for an employer.
  • Information regarding your current debts, liabilities and assets including any personal or car loans.

About RAMS home loans

RAMS is a home loan lender that caters to a wide selection of mortgage borrowers in Australia, including:

  • First home buyers
  • Upgraders
  • Investors
  • Refinancers (including those looking for Lines of Credit)
  • Self-employed (low-doc home loans)

RAMS home loans also come with a range of interest rate and payment options:

  • Variable rate
  • Fixed rate
  • Principal-and-interest home loans
  • Interest-only home loans

If customers choose to package their RAMS home loans, they have the potential to save on fees and have their interest rates discounted. Depending on the RAMS home loan, customers have access to offset accounts and redraw facilities. Some RAMS home loans give customers the opportunity to make extra repayments.

RAMS home loan rates tend to be in the middle of the market for both investors and owner-occupiers. RAMS interest rates tend to fall between moderately low and moderately high.

RAMS home loan rates

RAMS home loan rates vary from product to product, but they tend to be moderately low, moderate, or moderately high. While RAMS home loan rates are not the cheapest on the market, they’re not the most expensive either.

As a general rule, owner-occupiers are given lower interest rates than investors, and customers who pay principal-and-interest pay lower rates than those paying interest-only. Borrowers with lower LVRs get lower interest rates than those with high LVRs.

RAMS home loan interest rates also differ between variable interest rates and fixed interest rates. Interest rates can be fixed for one, two, three, four, five, or ten years. Generally, the longer you want to fix, the higher the interest rate will be.

Interest rates also vary between lines of credit and standard home loans. RAMS lines of credit typically have higher interest rates than their home loans.

RAMS home loans review

While the RAMS home loan offering may be thinner than those of the big four banks, RAMS loans cater to a variety of borrowers in Australia. You can find RAMS home loans suited to owner-occupiers, investors, and refinancers.

RAMS offers competitive rates on ‘vanilla’ home loans, but also offers more specialised home loans, like lines of credit and low-doc loans for the self-employed.

RAMS home loans can be principal-and-interest or interest-only, and borrowers can also choose between variable and fixed interest rates.

While RAMS home loan rates tend to sit somewhere between moderately low and moderately high, its fees tend to be at the higher end of the spectrum. Those fees include application fees and annual service fees. Fees may also apply for ATM withdrawals, cash withdrawals, and cheque use.

Learn more about home loans

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. 

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.

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.  

Can first home buyers apply for an ING home loan?

First home buyers can apply for an ING home loan, but first, they need to select the most suitable home loan product and calculate the initial deposit on their home loan. 

First-time buyers can also use ING’s online tool to estimate the amount they can borrow. ING offers home loan applicants a free property report to look up property value estimates. 

First home loan applicants struggling to understand the terms used may consider looking up ING’s first home buyer guide. Once the home buyer is ready to apply for the loan, they can complete an online application or call ING at 1800 100 258 during regular business hours.

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.


How do I apply for Westpac’s first home buyer loan?

If you’re a first home buyer looking to apply for a home loan with Westpac, they offer an online home loan application. They suggest the application can be completed in about 20 minutes. Based on the information you provide, Westpac will advise you the amount you can borrow and the costs associated with any possible home loan. 

You can use Westpac’s online mortgage calculators to estimate your borrowing power. You can also work out the time it might take to save up for the deposit, and the size of your home loan repayments

When applying for a home loan with Westpac, you’re assigned a home finance manager who can address your concerns and provide information. The manager will also offer guidance on any government grants you may be eligible for. 

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.

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. 

Can I take a personal loan after a home loan?

Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:

  • Higher-income to show repayment capability for both the loans
  • Clear credit history with no delays in bill payments or defaults on debts
  • Zero or minimal current outstanding debt
  • Some amount of savings
  • Proven rent history will be positively perceived by the lenders

A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.

As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.

Can I get a home renovation loan with bad credit?

If you're looking for funds to pay for repairs or renovations to your home, but you have a low credit score, you need to carefully consider your options. If you already have a mortgage, a good starting point is to check whether you can redraw money from that. You could also consider applying for a new home loan. 

Before taking out a new loan, it’s good to note that lenders are likely to charge higher interest rates on home repair loans for bad credit customers. Alternatively, they may be willing to lend you a smaller amount than a standard loan. You may also face some challenges with getting your home renovation loan application approved. If you do run into trouble, you can speak to your lender and ask whether they would be willing to approve your application if you have a guarantor or co-signer. You should also explain the reasons behind your bad credit rating and the steps that you’re taking to improve it. 

Consulting a financial advisor or mortgage broker can help you understand your options and make the right choice.

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.

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 is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

How to apply for a home loan pre-approval from St. George?

By applying for a home loan pre-approval, you can establish how much you can afford to borrow and look for houses within that pre-approved budget. Getting home loan pre-approval from St. George is a fairly simple process that can be completed within 15 minutes. 

The first step in this process is completing a home loan application. Once that application is submitted, a home loan expert from St. George will contact you to understand your requirements and your current financial position. You could also directly contact a home loan expert at the bank by calling 13 33 30 or by visiting your nearest branch. 

Once the application has been processed, the home loan expert will ask for some basic documentation to confirm your borrowing capacity. After this, you should be issued a home loan pre-approval, subject to certain conditions. 

Based on your home loan pre-approval from St. George, you can then find a property and make an offer. Your home loan expert will arrange to have the property valued and may request for more documentation, taking your home loan application to the next step. 



What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.