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Pros and cons

  • Offset accounts
  • Loans can be approved, with a contract, same-day
  • No application fees, valuation fees or loan processing fees
  • No face-to-face contact or branch access
  • Maximum loan-to-value ratio (LVR) of 90 per cent
  • Doesn't offer specialty loans

Owner occupied Tic:Toc home loan rates


Loan typePrincipal & Interest rateInterest Only
Live-in Variable (Min Deposit 10%)
2.59% p.a.
2.6% p.a. Comparison rate
3.45% p.a.
3.59% p.a. Comparison rate
1 Year Live-in Fixed (Min Deposit 10%)
3.47% p.a.
2.72% p.a. Comparison rate
4.15% p.a.
3.65% p.a. Comparison rate
2 Year Live-in Fixed (Min Deposit 10%)
4.44% p.a.
2.96% p.a. Comparison rate
4.71% p.a.
3.79% p.a. Comparison rate
3 Year Live-in Fixed (Min Deposit 10%)
4.66% p.a.
3.16% p.a. Comparison rate
4.63% p.a.
3.86% p.a. Comparison rate
4 Year Live-in Fixed (Min Deposit 10%)
4.83% p.a.
3.37% p.a. Comparison rate
4.96% p.a.
4.04% p.a. Comparison rate
5 Year Live-in Fixed (Min Deposit 10%)
4.9% p.a.
3.56% p.a. Comparison rate
5.08% p.a.
4.18% p.a. Comparison rate
Live-in Variable (With Offset) (Min Deposit 10%)
2.59% p.a.
2.73% p.a. Comparison rate

Investment purpose Tic:Toc home loan rates


Loan typePrincipal & Interest rateInterest Only
Investment Variable (Min Deposit 10%)
2.89% p.a.
2.9% p.a. Comparison rate
3.4% p.a.
3.58% p.a. Comparison rate
1 Year Investment Fixed (Min Deposit 10%)
3.62% p.a.
3.6% p.a. Comparison rate
4.15% p.a.
3.65% p.a. Comparison rate
2 Year Investment Fixed (Min Deposit 10%)
4.48% p.a.
3.76% p.a. Comparison rate
4.91% p.a.
3.83% p.a. Comparison rate
3 Year Investment Fixed (Min Deposit 10%)
4.86% p.a.
3.93% p.a. Comparison rate
4.93% p.a.
3.94% p.a. Comparison rate
4 Year Investment Fixed (Min Deposit 10%)
5.03% p.a.
4.09% p.a. Comparison rate
5.16% p.a.
4.11% p.a. Comparison rate
5 Year Investment Fixed (Min Deposit 10%)
5.1% p.a.
4.22% p.a. Comparison rate
5.43% p.a.
4.33% p.a. Comparison rate

Tic:Toc home loan calculator

Thinking about taking out a home loan with Tic:Toc? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Tic:Toc home loans compare with other options.

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With a repayment type

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Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 2.59%

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How to Apply

Borrowers wanting to apply forTic:Toc home loans should know that the process is 100 percent online, though if they need any assistance there is a customer service phone number available. Before applying for an Tic:Toc home loan, consider what you can afford to borrow and what other costs you need to factor in. To apply for an Tic:Toc home loan, you will need to supply the following information:

  • Proof of identity.
  • Australian citizenship or permanent residency. You must also live in Australia. 
  • Proof of income.
  • Internet banking logins or at least 3 months of transactional statements.
  • Have a 10 percent deposit.

About Tic:Toc home loans

Because it is a niche player within the market, Tic:Toc offers a thinner range of home loans than you might find with larger banks like Westpac or Commonwealth Bank. Unlike Australia’s big four banks, Tic:Toc considers itself a low-cost lender and doesn’t offer specialty loans. Tic:Toc home loans are suited to ‘vanilla’ borrowers, rather than those who require SMSF loans or reverse mortgages.

Tic:Toc requires that borrowers provide a 10 per cent deposit on home loans. Repayments can be made weekly, fortnightly, or monthly. Tic:Toc home loans can be either variable or fixed, and offset accounts are available for both. Borrowers can also make unlimited additional repayments and free unlimited redraw on all loans.

Tic:Toc offers home loans for both investors and owner-occupiers. Borrowers can choose between principal-and-interest loans or interest-only home loans.

Tic:Toc home loan rates

Tic:Toc home loan rates tend to be very low or moderately low for both owner-occupiers and investors. Their rates tend to fall below those offered from Australia’s larger banks.

Because Tic:Toc is an online-only lender, it doesn’t have to maintain the expensive branch networks run by traditional banks, which means it can undercut them on interest rates. They also offer fewer frills than large banks, making it easier to charge their customers lower rates.

Tic:Toc home loan rates vary from product to product. While most of Tic:Toc’s home loan rates tend to fall between very low and moderately low, investors do pay higher rates than owner-occupiers. As a general rule, principal-and-interest borrowers are offered lower rates than interest-only borrowers, and variable home loans have lower rates than fixed home loans.

Tic:Toc home loans review

Tic:Toc home loans are perhaps better suited to tech-savvy borrowers who live in Australia’s capital cities or major regional centres. Home loans offered by Tic:Toc are ‘vanilla,’ with few frills; in return, they tend to have low interest rates and low fees.

Another way Tic:Toc keeps costs low is by limiting their home loan offering to ‘vanilla’ borrowers, who are easier to serve than specialist customers.

Tic:Toc does not operate any bank branches, so their mortgages are only suitable for those who are comfortable with their customer service living 100 per cent online and over the phone.

Tic:Toc does not charge an application fee or monthly administration fees. There is no charge for redraw, though customers do pay a monthly fee for offset accounts. Customers are permitted free unlimited additional repayments.

Learn more about home loans

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.

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.

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.

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.

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

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 common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

Do you compare mortgages using the comparison or advertised rate?

A lot of Australians compare home loans using the advertised interest rate, which indicates how much interest you’ll be charged on your mortgage repayments. The lower your rate, the cheaper your home loan should be.

However, interest charges aren’t the only cost associated with home loans. Most mortgage lenders also charge fees on their home loans. A mortgage with a low interest rate and high fees can sometimes cost more than a mortgage with a high interest rate and low fees.

A home loan’s comparison rate combines the cost of interest with the cost of standard fees and charges into a single percentage rate. Mortgage lenders are required to display a comparison rate alongside their advertised rate to better indicate the home loan’s overall cost.

Keep in mind that to ensure consistency, all comparison rates are calculated assuming a $150,000 principal and interest mortgage with a 25 year term. As your home loan may be different, the comparison rate may not accurately reflect exactly how much your home loan may cost. Also, the comparison rate doesn’t include every home loan fee and charge, so it’s still important to compare home loans and read the fine print before you apply.

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 home loan?

A home loan is a finance product that allows a home buyer to borrow a large sum of money from a lender for the purchase of a residential property. The home is then put up as "security" or "collateral" on the loan, giving the lender the right to repossess the property in the case that the borrower fails to repay their loan.

Once you take out a home loan, you'll need to repay the amount borrowed, plus interest, in regular instalments over a predetermined period of time.

The interest you're charged on each mortgage repayment is based on your remaining loan amount, also known as your loan principal. The rate at which interest is charged on your home loan principal is expressed as a percentage.

Different home loan products charge different interest rates and fees, and offer a range of different features to suit a variety of buyers’ needs.

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. 

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 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.

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.