What affects my interest rate?
Your interest rate may vary due to factors such as:
- Whether you're an owner-occupier or investor.
- Whether your loan is principal & interest or interest-only.
- Your Loan to Value Ratio (LVR) if you have a Basic Variable or Offset Variable Home Loan.
- Your fixed rate term if you choose a Fixed Rate Home Loan.
Our home loan rates
Can't find a rate that takes your fancy? Check out our other home loan interest rates.
Loan purpose
Loan Type
Basic Variable Home Loan
Learn more about our Basic Variable Home Loan.
Loan type T&Cs apply.1,2,5,6,7
*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 22 May 2026 only.
Purchasing or building a green home? You may be eligible for our Green Home offer.
Offset Variable Home Loan
Learn more about our Offset Variable Home Loan.
Loan type T&Cs apply.1,2,5,6,7
*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 22 May 2026 only.
Purchasing or building a green home? You may be eligible for our Green Home offer.
Fixed Rate Home Loan
Learn more about our Fixed Rate Home Loan.
Loan type T&Cs apply.6
FAQS
Home loan rates explained
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!
The interest rate is the percentage of the principal (i.e. the amount you borrow) which you pay in addition to the principal itself. The comparison rate, on the other hand, consists of the interest rate plus any additional fees and charges which may be applicable. This means that while the comparison rate is higher than the interest rate, it gives a more accurate picture of how much you will pay over the life of the loan.
Home loan repayments are almost always calculated on a monthly basis. You can pay into your home loan account weekly or fortnightly, but the contracted repayment frequency remains monthly.
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. These include:
- 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 & 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.
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).
To learn about the latest rate changes, please visit our home loan interest rate update page.
Home loan calculators
Fill out our online enquiry form and one of our Home Loan Specialists will get back to you to start the process.
Mon - Fri: 9:30am - 4:00pm (AEST)
Rates are current as at 22 May 2026 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.
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; and the application is unconditionally approved on or after 13 March 2025. 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.
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 A $200 minimum withdrawal amount applies for redraws conducted in-branch.
5 Principal and Interest loans are not available for construction purposes.
6 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 (as applicable) which applies at the time of expiry, less any discount set out in the loan contract.
7 For Interest Only loans, a maximum interest only period of 36 months applies for owner occupier loans and 60 months for investor loans. On expiry of the interest only period, the loan will revert to the Basic Variable Principal & 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.
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