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- Applications must be received between 1 September 2026 and 1 February 2027, and funded on or before 30 June 2027.
- Minimum loan amount of $400,000.
- Borrow up to 90% of the value of your property.
View all eligibility requirements and exclusions here.
Enquire nowFlexible options to fit your needs
Still deciding? Find out more and compare home loans here.
Apply for a home loan
Whatever your investment plans, our team of specialists can help guide you through the process step by step.
Complete the form and we’ll connect you with one of our experienced Home Loan Specialists to discuss your goals, eligibility and next steps.
When you’re ready, we’ll help you prepare and submit your application.
Your specialist will guide you through the rest of the process from approval to settlement, including how to sign your loan documents digitally.
Trusted by Australians for over 75 years
From small beginnings as a credit union to Australia's largest customer-owned bank. Helping people manage their finances is in our DNA.
We've won awards for our work but our true passion is in our purpose. Helping everyday Australians own their own home.
Frequently asked questions
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Contact us to get started, we’re here to help!
Loan repayments are usually monthly. However, you can choose to make weekly or fortnightly repayments depending on the type of home loan you have. Interest Only loans and Great Southern Bank Rate Breaker Package are monthly only.
To make sure you stay on track to pay off your home loan in the contracted term, we periodically review and recalculate your loan repayment amount.
A recalculation of your repayment amount can happen for a number of reasons. This includes:
- If the interest rate on your loan increases or decreases.
- If your loan’s rate has been fixed and the fixed rate period ends.
- Your loan has an introductory rate or interest only payments for a set period, and this period ends.
Your choices can also result in a change. For example:
- You move from a variable to a fixed rate loan (or vice versa).
- You switch from an Interest Only to a Principal and Interest loan (or vice versa).
- You make a lump-sum payment and ask us to clear your advance payments i.e. the amount is not available to redraw.
- You request a change to the repayment frequency.
If your rate is changing or you're thinking about making changes to your loan, you can use our handy calculators to give you an estimate of the impact on your minimum repayment amount.
For more information and advice on loan repayments, drop into your local branch or call us on 133 282.
We use a method called monthly amortisation to calculate your repayments. This means your repayment amount is based on a monthly average of 31 days and is charged on the same day each month. Interest charges are calculated on your home loan balance daily and charged at the end of the month. The interest is debited on the last day of the month, and you can view your interest debits in online or mobile banking.
If your deposit is less than 20% of the property’s value, most financial institutions will require Lenders’ Mortgage Insurance (LMI). LMI is taken out to protect the lender in case of default. It’s a one-off cost and is generally included in the total value of the loan.
The loan-to-value ratio (LVR) is the amount of the loan compared to the value of the property. The higher deposit you have, the lower your LVR will be.
LVR is expressed as a percentage. For example, if the home you'd like to buy is valued at $400,000 and you need to borrow $320,000, the LVR would be 80% (i.e. $320,000 divided by $400,000).
The LVR is based on the bank’s valuation of your property (which may differ from the amount you paid on the contract). From a lender’s perspective, the higher the LVR, the higher the cost and risk to the lender, which is why you’ll often see higher rates for higher LVR applications. Apart from getting a better rate, having an LVR of 80% or lower also means you could avoid paying Lenders Mortgage Insurance (LMI).
A comparison rate will help you identify the true cost of the loan, which includes the interest rate plus all the relevant fees and charges for a loan. Comparison rates are useful when comparing different home loans to find the best deal. However, it’s always worth bearing in mind that the advertised comparison rate for a loan will be based on a sample loan amount and term.
Great Southern Bank is a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions, and fees apply. Consider the disclosure documents and terms, conditions before making a decision.
1. Discounts off the Basic Variable and Offset Variable Reference Rate are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of the home loan you already have with us when it includes new borrowing of at least $10,000; for new home loan applications unconditionally approved on or after 16 October 2026. Published interest rates are inclusive of any discounts off the respective Reference Rates. Interest rates and discounts vary based on the loan purpose (owner occupier and investor), repayment type (principal and interest, interest only, construction) and Loan to Value Ratio (LVR). Maximum LVR applies and includes Lenders Mortgage Insurance and Great Southern Bank loan setup fees where applicable.
2. Great Southern Bank may withdraw or amend this offer at any time without notice. A change in your loan purpose, your repayment type or your loan product will permanently end your entitlement to the discount.
3. LVR means ‘Loan to Value Ratio’. It is the amount of your loan divided by the valuation of your property, calculated as a percentage. For example, if you apply for a loan of $400,000, which will be secured by a property valued at $500,000, your LVR is 80%. We calculate your LVR at the time we approve your loan and your discount won’t change because of changes to the LVR during the life of your loan.
4. Fixed Rate loans are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of existing home loans. Maximum Loan to Value Ratio applies and includes Lenders Mortgage Insurance and Great Southern Bank loan setup fees where applicable.
5. On expiry of the fixed rate period, the loan reverts to the Basic Variable Reference Rate relevant to your loan purpose and repayment type which applies at the time of expiry.
6. You must maintain a minimum balance of $500 in each offset account to obtain an offset benefit. You will also not receive any interest on the funds in your offset accounts.
7. A daily transfer will refund any amounts paid in advance in excess of the total advance repayments allowed during the fixed rate period ($30,000) unless sufficient to pay out the loan in full (in which case an Early Payout Cost may apply). Excess funds will be transferred to the nominated deposit account, which must remain open for the fixed rate period.
8. A $200 minimum withdrawal amount applies for redraws conducted in-branch.
^Comparison rate accurate for $150,000 secured loan 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.
~Cashback offer available for Eligible Applicants who apply for an Eligible Loan between 1 September 2026 and 1 February 2027. To be an Eligible Applicant you must be an Australian resident aged 18+. An Eligible Loan is a loan that is a refinance of an existing home loan from another financial institution to Great Southern Bank or an investment property loan with Great Southern Bank. The Offer is only available for applications submitted directly to Great Southern Bank and is not available for applications submitted through a broker or other third party. To be eligible, the loan must be for a total loan amount of at least $400,000, have a loan to value ratio of 90% or less and be approved and funded on or before 30 June 2027. Great Southern Bank will pay a Cashback Payment of $2,000 for Eligible Loans between $400,000 and $699,999 and a Cashback Payment of $3,000 for Eligible Loans of $700,000 or more. For Eligible Loans with multiple borrowers, only one Cashback Payment will be paid.
Full terms and conditions are available at: www.greatsouthernbank.com.au/cashback-terms-and-conditions.