Home loan rates in Australia: compare Big 4 and online lenders
Advertised owner-occupier principal & interest rates from 13 lenders, taken from each lender's own website. Rates checked 23 October 2026. Rates change often, so confirm with the lender before applying.
RBA cash rate
The Reserve Bank raised the cash rate target by 0.25 percentage points to 4.85% on 3 November 2026, its fifth increase in 2026 and the highest cash rate since 2008. Most lenders in our table have announced they'll lift variable rates by 0.25% between 10 and 19 November; the "Variable after Nov rise" column shows the new rate and date. Existing borrowers' repayments usually change from their next repayment after the effective date.
The cash rate is what banks pay to borrow overnight, so it drives variable home loan rates. Fixed rates follow expectations for where rates are heading, so they can move before or after an RBA decision. The RBA next meets on 7–8 December 2026 (decision announced 8 December).
RBA F6 averages (August 2026, before the September and November rises): owner-occupier loans outstanding 6.21%, new loans 6.24%; principal & interest only: outstanding 6.19%, new 6.15%. These include variable and fixed loans.
Home loan rates compared
Lowest advertised variable rates in our table run from 6.14% to 6.69% p.a. For the Big 4 banks the range is 6.24% to 6.69%. On $600,000 over 30 years, that's $3,651 to $3,868 a month, a gap of $216 a month. Once the announced November rises take effect, the lowest variable rates run from 6.14% to 6.94%.
Lowest advertised owner-occupier principal & interest variable rate per lender, sorted lowest first. Checked 23 October 2026; announced November rises checked 9 November 2026. Tap a lender's name to visit its website.
| Lender | Variable p.a. | Variable after Nov rise | 2-yr fixed p.a. | Repayment on $600k | Offset | Conditions |
|---|---|---|---|---|---|---|
1 UnloanVariable rate (live in) | 6.14%comp. 6.05% | Not announcedas at 9 Nov | Check lender | $3,651a month | No (free redraw) | LVR 80% or less. Rate drops 0.01% each year (loyalty discount), which is why the comparison rate is lower.No as-at date shown; seen 23 October 2026 |
2 Newcastle PermanentReal Deal Home Loan | 6.19%comp. 6.23% | Not announcedas at 9 Nov | Check lender | $3,671a month | Check lender | LVR 80% or less; special rate needs $150k+ new borrowing.Rates effective 23 Oct 2026 |
3 loans.com.auVariable Bare Home Loan | 6.19%comp. 6.23% | Not announcedas at 9 Nov | 7.09%comp. 6.49% | $3,671a month | No | Max LVR 90%; no ongoing fees; $230 valuation and $300 settlement fees apply.Rates as at 22 Oct 20262-yr fixed note: Fixed Bold Home Loan, max LVR 90% |
4 WestpacFlexi First Option (online offer) | 6.24%comp. 6.25% | 6.49%from 13 Nov | 6.74%comp. 7.03% | $3,690a month | No | LVR 70% or less, online offer (includes 0.10% LVR discount); excludes internal Westpac Group refinances.No as-at date shown; seen 23 October 20262-yr fixed note: with Premier Advantage Package ($395 p.a.), LVR 70% or less |
5 MacquarieBasic Home Loan | 6.29%comp. 6.31% | 6.54%from 19 Nov | 6.59%comp. 6.37% | $3,710a month | No (Offset Home Loan has it) | LVR 60% or less, new loans. Offset Home Loan from 6.29% (comparison 6.54%).Rates current as at 20 Oct 20262-yr fixed note: Basic Home Loan, LVR 70% or less |
6 Great Southern BankBasic Variable | 6.29%comp. 6.35% | 6.54%from 11 Nov | 6.75%comp. 8.00% | $3,710a month | No (Offset Variable has it) | LVR 70% or less; new loans of $100k+. Offset Variable from 6.39% (comparison 6.45%).Rates current as at 16 Oct 20262-yr fixed note: 2-year fixed, LVR not stated |
7 CommBankDigi Home Loan | 6.34%comp. 6.36% | 6.59%from 13 Nov | 6.82%comp. 8.38% | $3,729a month | Yes (one Everyday Offset) | LVR 60% or less, with discount margin offer; min. loan $100k. New borrowings.Rates effective 9 Oct 20262-yr fixed note: Fixed Rate with Wealth Package |
8 ubankNeat variable | 6.34%comp. 6.36% | 6.59%from 10 Nov | Check lender | $3,729a month | Flex variant | LVR 60% or less. Flex variable (with offset) is 6.34% (comparison 6.58%).No as-at date shown; seen 23 October 2026 |
9 Bank AustraliaBasic Home Loan | 6.38%comp. 6.38% | 6.63%from 19 Nov | 6.79%comp. 6.47% | $3,745a month | No (Offset Home Loan has it) | LVR 70% or less. Offset Home Loan from 6.38% (comparison 6.57%, $199 p.a.).Rates effective 15 Oct 20262-yr fixed note: Basic Home Loan, LVR 80% or less |
10 BankwestSimple Home Loan | 6.44%comp. 6.47% | 6.69%from 13 Nov | Check lender | $3,769a month | Check lender | LVR 60% or less (6.49% for 60.01–80%).No as-at date shown; seen 23 October 2026 |
11 ANZANZ Plus Home Loan (variable) | 6.50%comp. check lender | 6.75%from 13 Nov | Check lender | $3,792a month | Yes ($10/month) | Refinance only; LVR up to 80%; loans $10k–$2m; not available for TAS or NT properties.Rates current as at 9 Oct 2026 |
12 St.GeorgeBasic Home Loan | 6.54%comp. 6.55% | 6.79%from 13 Nov | Check lender | $3,808a month | Check lender | LVR 70% or less; includes 1.84% special offer discount and 0.10% LVR discount; new applications.No as-at date shown; seen 23 October 2026 |
13 NABBase Variable Rate Home Loan | 6.69%comp. 6.69% | 6.94%from 13 Nov | 6.81%comp. 7.12% | $3,868a month | Check lender | Featured rate for new owner-occupier P&I loans; no monthly or annual fees.No as-at date shown; seen 23 October 20262-yr fixed note: Tailored Home Loan, LVR 70% or less |
*Comparison rates are calculated on a loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Repayments are monthly principal and interest on $600,000 over 30 years at the variable rate shown, assuming the rate never changes, calculated by ClearCalc. They exclude fees. "Check lender" means we didn't see that figure on the lender's site.
Lenders we couldn't verify
- ING: Rate tables on ing.com.au load dynamically and we couldn't read the figures. ING raised variable rates 0.25% from 9 October 2026. Lender site
- ANZ Simplicity PLUS: The discounted rates by LVR weren't readable on anz.com.au; ANZ lists the Simplicity PLUS index rate at 8.24% from 9 October 2026. Lender site
- Suncorp Bank: Suncorp Bank's site says it is no longer accepting home loan applications (it is now part of the ANZ Group). Lender site
- Athena: Athena's reference rates page couldn't be read, so we couldn't confirm a current rate. Lender site
- Tiimely Home (formerly Tic:Toc): Two pages on its site showed different variable rates and neither had an as-at date, so we left it out. Lender site
How to read the table
- Variable vs fixed: a variable rate can rise or fall at any time, usually after RBA decisions. A fixed rate is locked for the term (here 2 years), then reverts to a variable rate. Fixed loans often limit extra repayments and can charge break costs if you pay off or refinance early.
- LVR: the loan-to-value ratio is your loan divided by the property value. The lowest rates are usually for 60% to 80% LVR. Check the conditions column, because a rate for 60% LVR or less won't apply if you have a 10% deposit.
- Comparison rate: combines the interest rate with most fees for a $150,000 loan over 25 years. It's a quick way to spot fees, but it doesn't include every fee and is less accurate for larger loans.
- Package fees: some loans, such as bank "package" loans, charge an annual fee (often around $395) for a rate discount, an offset account and fee waivers. On a large loan the discount can outweigh the fee; on a small one it may not.
- Offset: an offset account reduces the balance you pay interest on. Basic loans often skip it in exchange for a lower rate.
What a 0.25% difference costs on $600,000
On a $600,000 loan over 30 years, the difference between 6.25% and 6.50% is about $98 a month, or $1,177 a year. If the gap lasted the full 30 years, it would add about $35,318 in interest.
| Rate p.a. | Monthly repayment | Weekly equivalent | Total interest over 30 years |
|---|---|---|---|
| 5.75% | $3,501 | $808 | $660,517 |
| 6.00% | $3,597 | $830 | $695,029 |
| 6.25% | $3,694 | $853 | $729,949 |
| 6.50% | $3,792 | $875 | $765,267 |
| 6.75% | $3,892 | $898 | $800,972 |
| 7.00% | $3,992 | $921 | $837,053 |
Principal and interest on $600,000 over 30 years, monthly repayments, no fees, rate unchanged for the whole term.
How to get a better rate
- Ask your bank for a rate review. Tell your lender the rates new customers are being offered and ask them to match or come closer. Lenders often cut rates for existing customers who ask, especially if your LVR has fallen.
- Refinance. If your lender won't move, switching can save money, but count discharge, settlement and valuation fees and check you'll still pass the lender's assessment. Our refinance calculator shows how long it takes to recover the costs.
- Use an offset account or make extra repayments. Every dollar in an offset or paid off early saves interest at your loan rate. Try the extra repayments calculator.
- Lower your LVR. Crossing a tier, such as getting below 80% or 70% LVR, can unlock a lower rate. Ask for a new valuation if your property has grown in value.
Related calculators and guides
Sources
Rates were read on each lender's own website on 23 October 2026. Where a lender's page stated an as-at or effective date, it's shown under the conditions.
- Reserve Bank of Australia: Cash rate target
- RBA: Monetary Policy Board decision, 29 September 2026
- Finder: lenders passing on the November 2026 cash rate rise
- RBA: 2026 Monetary Policy Board meeting dates
- RBA: Lenders' interest rates (Statistical Table F6)
- ASIC: National Credit Code
- ANZ: ANZ Plus Home Loan (variable)
- Bank Australia: Basic Home Loan
- Bankwest: Simple Home Loan
- CommBank: Digi Home Loan
- Great Southern Bank: Basic Variable
- loans.com.au: Variable Bare Home Loan
- Macquarie: Basic Home Loan
- NAB: Base Variable Rate Home Loan
- Newcastle Permanent: Real Deal Home Loan
- St.George: Basic Home Loan
- ubank: Neat variable
- Unloan: Variable rate (live in)
- Westpac: Flexi First Option (online offer)
Frequently asked questions
What is the difference between the interest rate and the comparison rate?
The interest rate is what you're charged on the balance. The comparison rate adds most upfront and ongoing fees and is calculated on a $150,000 loan over 25 years, so it helps you compare loans with different fees. A big gap between the two usually means a package or annual fee. For fixed loans the comparison rate also includes the rate the loan reverts to, which is why it can be lower or higher than the fixed rate.
Why can I get a lower rate with a bigger deposit?
Most lenders price by loan-to-value ratio (LVR): the loan as a share of the property's value. Loans of 60% or 70% LVR or less usually get the sharpest rates, and rates step up above 80% LVR, where lenders mortgage insurance usually also applies. Each rate in our table shows the LVR it applies to.
How much does a 0.25% rate rise add to repayments?
On a $600,000 loan over 30 years, going from 6.25% to 6.50% adds about $98 a month, or about $35,318 in interest over the full term if rates never change. Use the interest rate rise calculator for your own loan.
How often do these rates change?
Variable rates usually change within a couple of weeks of an RBA decision, and lenders change special offers and fixed rates at any time. We checked these rates on 23 October 2026, so always confirm the current rate on the lender's website before you decide.
Does ClearCalc recommend a lender?
No. ClearCalc isn't a lender or broker and isn't paid by any of the lenders listed. The table shows advertised rates as general information only. It doesn't consider your situation, and the right loan depends on features, fees, LVR and lender policy as well as the rate.
Rates checked 23 October 2026. General information only, not credit assistance or financial advice. ClearCalc is not a lender or credit provider. Confirm all rates, fees and eligibility with the lender.