:format(webp))
Unloan Home Loans & Rates Comparison
Today’s rates at a glance
Unloan best
5.89%
P.A. rate5.80%
Comparison*Variable rate Home Loan · Variable · P&I · ≤80% LVR
Market best
5.69%
P.A. rate5.71%
Comparison*Unloan is +0.20% higher
*Comparison rates based on a $150,000 loan over 25 years. Different terms, fees or loan amounts might result in a different comparison rate.
See if you can get a better rateUnloan is an online-only lender that is backed by CommBank. It’s known for offering low fees and a loyalty discount that reduces your rate over time. Let's see how its rates compare.
Unloan’s variable home loan rates for owner-occupiers
Unloan only offers one variable rate option for owner-occupiers with a loan-to-value ratio (LVR) of up to 80%.
On Unloan’s variable rate home loan there’s no application, discharge, account keeping or transaction fees. Unloan doesn’t offer offset as a feature on its home loans, but borrowers can make an unlimited number of extra repayments and access its redraw facility. The interest rate also decreases over the lifetime of the loan as part of Unloan’s loyalty discount program.
| Rate tier | Interest rate | Comparison rate |
|---|---|---|
| Variable rates for new loans up to 80% LVR | 5.89% p.a. | 5.80% p.a. |
Unloan’s variable investment home loan rates
Unloan offers the same loan and features for borrowers applying for an investment property home loan, just with slightly different rates.
| Rate tier | Interest rate | Comparison rate |
|---|---|---|
| Variable rates for new loans up to 80% LVR | 6.04% p.a. | 5.95% p.a. |
How competitive are Unloan’s home loan rates?
Unloan’s home loan rates are generally quite competitive amongst other lenders’ basic variable rate home loan models. Its already-low rates also decrease over the lifetime of the loan with Unloan’s 0.01% p.a. discount that’s deducted annually. That combined with virtually no fees and unlimited extra repayments with redraw, make Unloan’s offering pretty compelling overall.
Since Unloan specialises in variable rate home loans with principal and interest repayments, it doesn’t offer any fixed rate or interest-only options. While Unloan’s interest rates are decent value, it's worthwhile checking the options at other lenders to ensure that you're getting the best home loan for your situation.
Compare Unloan’s home loan rates to other non-major lenders:
What are Unloan’s lowest home loan rates?
Unloan’s lowest rate currently available is from its variable rate Home Loan with an up to 80% LVR for owner-occupiers.
How does Unloan’s loyalty rate discount work?
Borrowers will receive a 0.01% p.a. loyalty discount on their variable interest rate from Unloan each year over the lifetime of the home loan. The discount will be applied automatically on the settlement date anniversary for a maximum of 30 years, with the highest reduction possible being 0.30% p.a.
Shopping home loan rates beyond the big banks?
Non-major banks
Think ING, HSBC, Bendigo, Suncorp Bank etc. In terms of products and processes, these will be very similar to the big 4 banks who lead the trends in banking in Australia. But non-major banks often have lower rates and special offers (e.g. refinance cashback) in order to be competitive versus the bigger lenders. The non-major banks are still well-known brands with high-quality online tools systems.
Customer-owned
There are dozens of small member-owned banks and credit unions in Australia. Many are focussed on customers in a particular regional area, or even workers in a certain profession. These lenders often have the lowest rates in the market and personalised customer service, but the eligibility criteria may be more limited and the application process can be slow.
Non-bank lenders
Australian borrowers also have plenty of choice among non-bank home loan providers. Some are mainstream lenders (often online only) offering loans to your typical home loan borrowers. Others specialise in offering loans to cater for specific borrowers and scenarios, such as self-employed borrowers, bad credit borrowers or SMSF loans.