The home loan is 20 basis points lower than previously, and is for borrowers from NSW, ACT, or Queensland.

It has a maximum loan-to-value ratio of 80%, however those using a guarantor can borrow up to 110% of the property's value.

This means on a $500,000 home, borrowers could feasibly borrow up to $550,000. 

This advertised rate represents the lowest in Savings.com.au's market research, with around 50 other lenders having home loan products below the 2.00% threshold.

Greater Bank also cut a number of other loans by between 10 and 30 basis points, for both owner occupiers and investors, including interest-only loans featuring similar advertised rates.

Some notable cuts to variable rates were:

  • Great Rate Variable 90%: 20 basis point cut to 2.19% p.a. (2.20% p.a. comparison rate*)
  • Great Rate Investor Variable 80%: 30 basis point cut to 2.29% p.a. (2.30% p.a. comparison rate*)

The new fixed rates are available for new lending, or existing customers who want to refinance to a fixed-term product.

Greater Bank CEO Scott Morgan said these rates are some of the most competitive on offer.

"Where customers can really benefit is in the comparison rates, which outlines what the customer ends up paying," Mr Morgan said.

"There are plenty of gimmicks on offer across the lending market, but we firmly believe that this new rate offering provides quality and sustained benefit for new and existing customers."

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Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.08% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Photo by Sandid on Pixabay



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