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We are increasing most of our variable home loan interest rates by 0.50% per annum following the RBA’s decision to raise the official cash rate again. Impacted customers will be notified by mail in the coming weeks to confirm their new rate and new minimum repayment amount. For more information, read more here.

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Calculators
How to guides
Compare home loans

Flexible options to fit your needs

You may need to pay lenders mortgage insurance (LMI) because your loan to value ratio (LVR) is more than 80%.
Loan purpose
Loan type
Basic Variable
All the features you need and nothing you don't.
Discounted rates from
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
Competitive discounted variable rate.
$0 monthly or annual fees.
Unlimited extra repayments.
Redraw at any time for free5.
^Comparison rate warning and T&Cs apply.
New and additional lending only and subject to eligibility.1,2
Offset Variable
100% offset home loan that makes saving on interest easy.6
Discounted rates from
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
100% Multi-Account Offset6.
Unlimited extra repayments.
Smart features like split loan options and top-ups.
Redraw at any time for free5.
^Comparison rate warning and T&Cs apply.
New and additional lending only and subject to eligibility.1,2
Fixed Rate
A competitive fixed rate plus the flexibility to pay up to $30,000 in extra repayments during the fixed term7,8
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
Certainty of repayments for the fixed period.
$30,000 in extra repayments during fixed term7.
Redraw your extra repayments any time for free5.
Lock in your rate before settlement11 See how it works. NEW!
^Comparison rate warning and T&Cs apply.
Subject to eligibility. Rate period applies9,10
Calculators
Our home loan calculators
How to guides

Our how to guides for every home buying stage

First home

Discover all the steps towards owning your first home.

Refinancing

Thinking of refinancing you home loan? Find out all you need to know.

Investing

Wanting to buy an investment property? We can help you start or grow your portfolio.

Next home

Need more room or wanting to downsize?  We’re here to help you find the perfect fit.

Renovating

Whether it’s a new bathroom, kitchen or an extension, we’ve got you covered.

Building

Make your dream home a reality with these simple steps.

ONLINE ONLY OFFER
Enjoy a $835 saving with $0 establishment fee and $0 security admin fee when you apply online! #

Looking to buy but unsure of your budget? Pre-approval can help.

You can apply for pre-approval even before you’ve found your property and be one step closer to a successful home purchase.
SAVE TO OWN
Saving for your first home?
Realise your dream of home ownership with these smart steps.
REFINANCE
Mortgage need enhancing?
Get clever refinancing.
Smart ways to pay off your home loan sooner.
PODCAST
The Clever Way Home
A podcast series designed to help simplify the home buying process.

Why we're different

We like to do things a little differently. Here are a few things you can expect from us:

  • Intuitive tools to help you save smarter, not harder
  • Flexible loan options to help you pay it off sooner
  • We've been putting customers first for over 75 years
The entire process could not have been easier. We moved a loan from another bank we were disappointed in and I couldn't believe just how simple it was.
Paul, NSW
Great Southern Bank customer

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Credit Cards

Find a card that's as adaptable as you are.

Home and Contents Insurance

Protect your home and your valuables.

Home loan tips & tricks

Read more about buying a home or investment property

Fixed versus variable: What’s the difference in a nutshell?

What's the differences between a fixed and variable rates, and are there any other options?

Read more

Most common mistakes when refinancing

Before you refinance your home loan to save money, read about the most common refinancing mistakes. It could just save you.

Read more

Buying your first home

Looking to buy your first home? Great Southern Bank’s home loan specialists can help you every step of the way. Enquire online now!

Read more

Financial Assistance for First Home Buyers

There is financial assistance available for first home buyers. Learn about the Australian government scheme, states grants and promotions.

Read more
Get in touch
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Call 133 282

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Sat: 8:00am - 4:00pm (AEST)

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Important information

Rates are current as at 22 June 2022 and subject to change.

Great Southern Bank, 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. Applications are subject to credit approval.

^ 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.

* Repayment is indicative only based on the stated information. Changes in interest rates, repayment frequency and loan term will affect the repayment amount. The calculations do not take into account fees, charges or other amounts that may be charged to the loan (such as establishment fees and security administration fees). If you are borrowing more than 80% of the value of the property, Lenders’ Mortgage Insurance may apply. Any of these additional amounts will increase the repayments under the loan. Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security, and minimum deposit requirements. Conditions apply to all loan options.

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 22 June 2022. 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 For Interest Only loans, a maximum interest only period of 36 months applies for owner occupier loans and 60 months for investment loans. For Fixed Rate loans, the interest only period must align with the fixed rate period. On expiry of the Fixed Rate interest only period, loans will revert to the Basic Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry. On expiry of the Basic Variable interest only period, loans will revert to the Basic Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry, less any discount set out in the loan contract. On expiry of the Offset Variable interest only period, loans will revert to the Offset Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry, less any discount set out in the loan contract. Comparison rate for Interest Only loan is based on interest only payments for the fixed term and principal & interest payments for the balance of the term.

5 A $200 minimum withdrawal amount applies for redraws conducted in-branch.

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 An Early Payout Cost may apply if the loan is terminated during the fixed rate period. A partial Early Payout Cost may apply if a reduction to the principal is requested during the fixed rate period. Click here to view the Early Payout Cost Factsheet.

9 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.

10 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.

11 Fixed Rate Lock is available to new applications from 27 April 2022. Great Southern Bank will apply the fixed interest rate applicable on the day of settlement unless a completed Fixed Rate Lock request form is received by us before the unconditional approval of your loan application. Fixed Rate Lock is a feature that allows customers to lock in the applicable fixed interest rate from the date we process your request, which will be once your application is submitted with all supporting documents, and you will be protected against interest rate rises for 90 days from such date.  A non-refundable Fixed Rate Lock Fee applies to each fixed rate loan that is locked, refer to our Lending Schedule of Fees for the fee amount. 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. Full terms and conditions apply and are available here.

To view the Target Market Determination for this product, please click here.

# Online only offer includes $0 Establishment Fee and $0 Securities Administration Fee for new eligible online home loan applications received between 06/12/2021 and 31/08/2022 and settled by 30/11/2022. To be eligible to apply online you must be at least 18 years of age, a permanent resident of Australia, applying for yourself or as a married/defacto couple and buying an existing property or refinancing. Great Southern Bank may withdraw or amend this offer at any time without notice.

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What stage are you at?
I'm ready to apply for a home loan
I'm applying for pre-approval
I want to know if I qualify
I'm researching my options

Applying for pre-approval allows you to know the maximum amount you can borrow while you look for a property.

Pre-approval means that a lender has agreed to lend you an amount of money in-principle, but the loan hasn't been proceeded to full or final approval.

While pre-approval is not a fully approved loan it can help you narrow your search, negotiate, and make an offer with certainty and confidence.

How much would you like to borrow?
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The minimum amount you can borrow is $100,000
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Great Southern Bank was previously known as CUA.
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Great Southern Bank was previously known as CUA.
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First Home Loan Deposit Scheme
New Home Guarantee
Family Home Guarantee

The Australian Government has introduced three initiatives to support eligible Australians to build or purchase a new home sooner: the First Home Loan Deposit Scheme, New Home Guarantee and the Family Home Guarantee.

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