full search form
Register button

Features & benefits

Applying for a home loan to buy your first home is simple with a Basic Variable Home Loan from Great Southern Bank. Relax with handy features to pay your loan off sooner and free redraw just in case you need it.7
No monthly or annual fees
With $0 monthly and $0 annual account fees, you can save thousands over the life of your loan.
Unlimited extra repayments
Own your home sooner with the ability to make unlimited extra repayments without penalty.
Free redraw
Life happens sometimes. That’s why we have free redraw so you can access your additional repayments to cover the unexpected or whenever you need some breathing space.7
Refinance and get $3,000 cashback+
Plus, $0 establishment fees, saving you $600. T&Cs apply.

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.

Rates & fees

Compare our competitive interest rates.
For further comparison see all our home loan interest rates

Download the Key Facts Sheet for this home loan.


Loan type
Loan purpose
Loan-to-Value Ratio* 3
Interest Rate**
Comparison Rate^
LVR is 80% or less
2.49% p.a.
2.84% p.a.
2.69% p.a.
2.64% p.a.
2.89% p.a.
3.14% p.a.
2.54% p.a.
2.60% p.a.
2.56% p.a.
2.69% p.a.
2.79% p.a.
2.73% p.a.
LVR is above 80% and less than or equal to 90%
2.64% p.a.
3.04% p.a.
2.89% p.a.
2.94% p.a.
3.19% p.a.
3.34% p.a.
2.69% p.a.
2.76% p.a.
2.71% p.a.
2.99% p.a.
3.09% p.a.
3.03% p.a.
LVR is more than 90%
2.99% p.a.
3.24% p.a.
3.04% p.a.
3.06% p.a.

Loan type T&Cs apply.1,2,4,5,6
*Loan to Value Ratio (LVR) inclusive of Lenders Mortgage Insurance (LMI). 
**Rates are inclusive of discounts off the reference rate. Discounts available to new and additional lending from 30 July 2021 only.


Monthly Fee
Annual Fee
Establishment Fee
Security Administration Fee

Other fees may apply.


Own your home sooner. We can help.

First Home Loan Deposit Scheme (FHLDS)
Buy your first home with as little as 5% deposit. T&Cs apply.

The $2,000 Great Start Promotion
A smart kick-start to help you buy your first home sooner. T&Cs apply.

Refinance and get $3,000 cashback+
Plus, get $0 establishment fee (save $600).

+ Apply by 31/10/2021, min $250,000 refinance, max 80% LVR. T&CS apply.
How to apply
You can start an application for a home, investment property or to refinance today.
The process
1. Get started online
You may be able to apply for a home loan online. Simply check if you qualify online and begin the application process.

If you are unable to apply online, don’t worry, one of our friendly home loan specialists will contact you to kick-start your application.
2. We’ll be in touch
Once we know a bit more about you and what you are looking for, we’ll contact you to help you on your home buying journey.

Prefer to talk to someone? Call us on 133 282 or visit your nearest Great Southern Bank branch.
  • Must be at least 18 years of age
  • Be a permanent resident of Australia
Eligibility for Owner Occupiers
  • Principal & Interest repayment: 95% maximum Loan to Value Ratio (LVR) including Lenders Mortgage Insurance (LMI)
  • Construction purpose: 95% maximum LVR including LMI
  • Interest Only repayment: 90% maximum LVR including LMI
Eligibility for Investors
  • 90% maximum LVR including LMI
What you will need:
  • Proof of identity, such as a passport or drivers license.
  • Details of your income and expenses.
  • Financial details, including what you own and what you owe.
  • If you are applying with another person, both applicants need to be present.
Saving for your first home?
Realise your dream of home ownership with these smart steps.
Mortgage need enhancing?
Get clever refinancing.
Smart ways to pay off your home loan sooner.
Speak to a Home Loan Specialist
We are here to help.

Speak to one of our Home Loan Specialists via live online chat.

Fill out our online enquiry form and one of our Home Loan Specialists will get back to you to start the process.

Mon - Fri: 8:00am - 7:00pm (AEST)
Sat: 8:00am - 4:00pm (AEST)

Discover our other home loans

Offset Variable Home Loan

100% offset home loan.

Fixed Rate Home Loan

Low fixed rate plus the flexibility to pay up to $5,000 in additional repayments during the fixed term.

Important Information

Rates current as at 30 July 2021 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.

1 Discounts off the Basic 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 received on or after 30 July 2021. 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 or 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 and your interest rate will revert to the Basic Variable Reference Rate.

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 Principal and Interest loans are not available for construction purposes.

5 For Construction loans, payments are made on an interest only basis for the first 12 months. After 12 months, the loan will revert to the Basic Variable Principal & Interest Owner Occupier or Investor Reference Rate applicable at the time, less any discount set out in the loan contract.

6 For Interest Only loans, a maximum interest only period of 24 months applies for owner occupier loans and 60 months for investment loans. On expiry of the interest only period, the loan 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. Comparison rate for Interest Only loan is based on interest only payments for the fixed term and principal and interest payments for the balance of the term.

7 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.

+ $3,000 cashback is for new owner occupier or investor refinance home loan applications received between 02/08/2021 and 31/10/2021 and settled by 31/01/2022. Offer not available for switching of a home loan that you already have with us. Minimum home loan refinancing amount of $250,000 and maximum 80% loan to value ratio. Limit of one $3,000 cashback per application (regardless of number of loans e.g. split loans, security properties or applicants). Equity lines of credit, bridging loans, construction loans and business loans not eligible. Great Southern Bank may withdraw or amend this offer at any time without notice.