Unloan Home Loans & Rates Comparison

RATE OF THE DAY

Variable

5.69%

Comparison Rate*

5.60%

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Unloan’s best home loan rates

Unloan 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. Compare some of Unloan’s best variable home loan rates for owner occupiers and investors.

Lender

Variable

1-Year Fixed

2-Year Fixed

3-Year Fixed

4-Year Fixed

5-Year Fixed

5.69%

Interest Rate

5.60%

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Owner occupier loans with principal and interest repayments. Rates assume 80% LVR.

Lender

Variable

1-Year Fixed

2-Year Fixed

3-Year Fixed

4-Year Fixed

5-Year Fixed

5.84%

Interest Rate

5.75%

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Investment loans with principal and interest repayments. Rates assume 80% LVR.

Unloan’s variable home loan rates for owner-occupiers

Unloan offers two variable rate options for owner-occupiers based on a loan-to-value ratio (LVR) of up to 80% or 90%. Note, if you’re refinancing an existing loan, you must have an LVR below 80% (the 90% LVR option is only for new home purchases).

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 for any of 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.

Product	Interest rate	Comparison rate	Max LVR
Variable rates for new loans up to 80% LVR	5.69% p.a.	5.60% p.a.	80%
Variable rates for new loans up to 90% LVR (purchase only)	5.99% p.a.	5.90% p.a.	90%

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.

Product	Interest rate	Comparison rate	Max LVR
Variable rates for new loans up to 80% LVR	5.84% p.a.	5.75% p.a.	80%
Variable rates for new loans up to 90% LVR (purchase only)	6.14% p.a.	6.05% p.a.	90%

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. The variable rate 80% LVR is also the lowest rate option for borrowers applying for an investment property loan.

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.

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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.

Unloan home loan FAQs

Should I get my home loan from Unloan?

Unloan is a digital lender that was launched in 2022 by CommBank, one of Australia’s big four banks (the others, of course, being ANZ, NAB and Westpac) and specializes in low rate variable home loans for home buyers and those refinancing.

Unloan is known for its fairly basic low-cost home loans and simple application process. It offers borrowers a loyalty discount of 0.01% p.a. each year up to 30 years, so homeowners could potentially get 0.30% p.a. off their home loan rate.

As a subsidiary of CommBank, Unloan says it’s able to access the same high-end technology that makes confirming identification details and navigating through the application easy.

It currently only offers variable rate home loans with principal and interest repayments for both owner-occupiers and investors. So whether an Unloan home loan is the right option for you will depend on your circumstances and needs.

Other lenders may offer a wider selection of loan features, but Unloan is marketing itself firmly on low rates and fees. Whatever your priority is in a loan, it’s important to compare home loans with multiple lenders to ensure that you're getting the best rates, features and fees for your situation.

Is Unloan increasing its home loan rates in 2026?

Yes, Unloan has increased its interest rates in 2026 to align with the Reserve Bank Australia’s cash rate hikes, alongside most other lenders. Some expert predictions suggest that further rate increases are possible, depending on global developments.

If you haven’t compared your rate recently, it’s worth checking to see if there’s a better home loan rate elsewhere.

What’s the best Unloan home loan?

Compared to other lenders, Unloan has limited home loan options to offer borrowers. So choosing the best loan from Unloan is pretty straightforward, but whether it’s ideal for your circumstances is a different story.

Unloan’s variable rate home loan is a fairly basic model with no fees and low rates. Most lenders will offer a pretty similar product, so the only way to know if Unloan is suitable for you is to compare it with other home loans in the market. It could be beneficial to have a quick chat with a broker who can recommend a loan based on its rates, fees, features and service.

How do I apply for an Unloan home loan?

Unloan says it will take around 10 minutes to complete the six steps in its simple online home loan application form. The lender will ask for the property’s address for the auto-property evaluation which is a near-instant process and reduces the need for an in-person evaluation in most cases.

Unloan will require personal details for all borrowers, including income, expenses, and other debts like loans or credit cards. The details will be verified via a digital credit check and financial verification. Unloan digitally confirms identification with a picture of your Driver’s Licence or Passport and a photo of your face.

A lending specialist should be in contact within a few days, otherwise borrowers can check the progress of their application with Unloan’s online tools.

Does Unloan offer home loans as part of the Home Guarantee Scheme?

No, Unloan is not a participating lender in the Australian Government’s 5% Deposit Scheme. If you are a first home buyer looking to take advantage of this initiative it’s worthwhile perusing the government’s first home buyers website for suitable lenders.

Can I get an offset account on an Unloan home loan?

No, Unloan doesn’t have offset accounts as a feature for any of its home loans. Borrowers can make unlimited extra repayments and access redraw facilities.

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