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Features & benefits

With an Offset Variable Home Loan you can use your offset account to reduce your interest payments while still having easy access to your savings whenever you want. It’s paying off your home loan made simple.

Looking to refinance? Read on to see how our features compare.
100% Offset
Save on interest and reduce your loan term with a free 100% Multi-Account Offset.4
Unlimited fee free repayments
Own your home sooner with the ability to make unlimited extra repayments without penalty.
Free redraw
Access your additional home loan repayments with free redraw, so you can use it whenever you need some breathing space.5
Use The Boost when shopping to get your mortgage dropping
The Boost lets you pay down your home loan every time you use your Great Southern Bank Debit Card. It's a clever way to repay smarter, not harder.
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
2.39% p.a.
3.04% p.a.
2.89% p.a.
2.94% p.a.
3.19% p.a.
3.34% p.a.
2.44% p.a.
2.55% p.a.
2.48% p.a.
2.99% p.a.
3.09% p.a.
3.03% p.a.
LVR is above 80% and less than or equal to 90%
2.84% p.a.
3.24% p.a.
3.09% p.a.
3.14% p.a.
3.39% p.a.
3.54% p.a.
2.89% p.a.
2.96% p.a.
2.91% p.a.
3.19% p.a.
3.29% p.a.
3.23% p.a.
LVR is more than 90%
3.09% p.a.
3.44% p.a.
3.14% p.a.
3.17% p.a.

Loan type T&Cs apply.1,2,6,7,8
*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 18 November 2021 only.


Establishment Fee
$0 when you apply online#
Security Administration Fee
$0 when you apply online#
Monthly Fee
Annual 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 31/01/2022, 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 - 8:00pm (AEDT)
Sat: 8:00am - 4:00pm (AEDT)

Discover our other home loans

Basic Variable Home Loan

Our low variable rate plus handy features to help you pay your home off sooner.

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 18 November 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.

^ 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 31/01/2022 and settled by 30/04/2022. 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.

1 Discounts off the 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; and the application is received on or after 18 November 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.

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 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.

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

6 Principal and Interest loans are not available for construction purposes.

7 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 Offset 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.

8 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 Offset 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.

#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 28/02/2022, and settled by 31/05/2022. 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.

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