22 Australian lenders compared side by side. Rates, fees, offset, redraw. Find the cheapest home loan for your situation — then get pre-qualified in 60 seconds.
5.19%
Lowest Variable Rate
22
Lenders Compared
$9k+
Avg Annual Saving by Refinancing
0.55%
Gap: Best vs Big 4
Lender
Variable Rate
Comparison Rate
Offset
Annual Fee
Rates sourced from Canstar, Finder & Money.com.au. Updated 10 Mar 2026. RBA cash rate: 3.85%. *Virgin Money Lite rate applies to LVR 70-80% only. Rates subject to change — verify directly with lender. Always verify directly with the lender. This is not financial advice.
Big 4 vs Digital Lenders — what's the real difference?
The gap between the cheapest and most expensive home loans in Australia is over 0.55% — which on a $600,000 loan is more than $3,300 per year.
🏦 Big 4 Banks
Higher rates (6.09–6.19%) but more flexible on complex lending — self-employed, trust structures, unusual properties. Branch access and full banking integration. Best for complex situations.
📱 Digital Banks
Lower rates (5.44–5.79%) and fast approvals. Ubank, ING, Macquarie, 86 400 offer great offset accounts. Usually PAYG income only — less flexible on self-employed.
⚡ Non-Bank Lenders
Best rates in market (5.19–5.54%). Reduce Home Loans, Athena, Loans.com.au, Homestar. Less product range. Good for straightforward PAYG borrowers who just want the lowest rate.
Frequently asked questions
What is a comparison rate and why does it matter?
The comparison rate includes the interest rate plus most ongoing fees, expressed as a single annual percentage. It's designed to help you compare the true cost of loans. A loan with a low advertised rate but high fees may have a higher comparison rate than a loan with a slightly higher rate but zero fees.
What's the difference between offset and redraw?
An offset account is a separate transaction account linked to your loan — money in it reduces the interest you pay daily. Redraw lets you access extra repayments you've already made into the loan itself. Offset is generally more flexible and the preferred option for investors (as it keeps the loan balance higher for tax purposes).
How long does it take to refinance a home loan?
Most refinances take 4–6 weeks from application to settlement. Digital lenders can sometimes do it faster. You'll need current payslips, 3 months of bank statements, your current loan statement, and ID. A broker handles most of the paperwork for free.
See which lenders will approve you
Chat with Finley and get pre-qualified against all 22 lenders in 60 seconds — no credit check, no obligation.