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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.
Save big on fees with us!
Apply for a home loan online with us, and we’ll waive your establishment fee – a total saving of $600!#

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 LVR means ‘Loan to Value Ratio’. It is the amount of your loan divided by the valuation of your property, calculated as a percentage.
Interest Rate**
Comparison Rate^
LVR is 70% or less
6.19% p.a.
6.94% p.a.
6.19% p.a.
6.35% p.a.
6.64% p.a.
6.35% p.a.
6.25% p.a.
6.47% p.a.
6.25% p.a.
6.41% p.a.
6.54% p.a.
6.41% p.a.
LVR is above 70% and less than or equal to 80%
6.29% p.a.
7.24% p.a.
6.29% p.a.
6.44% p.a.
6.74% p.a.
6.44% p.a.
6.35% p.a.
6.63% p.a.
6.35% p.a.
6.50% p.a.
6.63% p.a.
6.50% p.a.
LVR is above 80% and less than or equal to 90%
6.59% p.a.
7.49% p.a.
6.59% p.a.
6.74% p.a.
7.14% p.a.
6.74% p.a.
6.65% p.a.
6.91% p.a.
6.65% p.a.
6.80% p.a.
6.98% p.a.
6.80% p.a.
LVR is more than 90%
7.04% p.a.
7.10% 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 9 June 2024 only.


Enjoy a $600 saving with $0 establishment fee when you apply online!#
Establishment Fee
$0 when you apply online#
Security Administration Fee
Monthly Fee
Annual Fee

Other fees may apply.

Start your application today
1. Apply online

Check our eligibility criteria, and get started through the link below. It takes around 20 minutes to complete the form.

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.

3. Approvals

If approved, you'll start repaying your Great Southern Bank Home Loan. You can also view your home loan and repayment details in online and mobile banking.

Contact us Contact us
Prefer to talk to someone?

Home loans explained

Find the answers to our frequently asked questions here.

Who is Great Southern Bank?

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!

What are my repayment options?

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.

Why do home loan repayment amounts change?

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.
What is a redraw facility?

Redraw allows you to withdraw the additional payments you’ve made on your home loan. A free redraw facility is a standard feature on most Great Southern Bank Home Loans.

If you're ahead on your home loan repayments and need some extra cash, you can access these funds quickly and easily, no questions asked. You can redraw your additional repayments in online banking at your local branch or by calling us on 133 282.

Find out more about redraw here.

What is an Offset Account?

An offset account allows you to use the balance of your linked account to “offset” (or reduce) the balance of your home loan that interest is charged on.

Let’s say you have a home loan balance of $300,000 and have $30,000 in your offset account, you'll only pay interest on a home loan balance of $270,000. This can save you money on interest over the long term and help you pay off your loan sooner.

Great Southern Bank offers you the ability to have multi-offset accounts, so you can offset 100% of the combined balances of multiple linked Great Southern Bank Everyday Accounts.4

What is the difference between my redraw facility and my offset account?

Your redraw facility forms part of the home loan balance you have paid back to Great Southern Bank. Any payments you make to your home loan account in addition to your contracted monthly repayments will be added to your available redraw amount.

Your offset account is the transaction account(s) you have nominated to be linked to your home loan and the credit balance does not form part of your loan. Interest is then charged on the loan amount minus the balance in your nominated offset accounts, thus reducing (i.e. offsetting) the amount of interest you pay, while still accessing your money like a regular transaction account. You can nominate up to six Great Southern Bank Accounts to offset your loan.

Can you borrow what you need?

Got your eye on a property but not sure how much you can borrow? Pre-qualify to find out.

Take the next step to home ownership
  • No commitment
  • No documents needed
  • No credit check so no impact on your credit score
  • Pre-qualify in five minutes
Pre-qualify now
What’s the difference between pre-approval and pre-qualify?
What’s the difference between pre-approval and pre-qualify?

Home loan calculators

Wondering how much you can borrow? Or what your repayments will be each month? Our home loan calculators can crunch the numbers for you.

See all calculators

Repayments calculator
Borrowing power calculator
Mortgage need enhancing?
Get clever refinancing.
Smart ways to pay off your home loan sooner.
Saving for your first home?
Realise your dream of home ownership with these smart steps.
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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: 9:30am - 4:00pm (AEST)

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 $30,000 in additional repayments during the fixed term.

Important Information

Rates current as at 9 June 2024 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 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 unconditionally approved on or after 9 June 2024. 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.

#Offer includes $0 Establishment Fee and is open to new or existing customers applying for a minimum application amount of $100,000 or more. Excludes applications for Internal Refinance of existing facilities. Applications must be received between 31/08/2022 and 28/02/2025 and settled by 31/05/2025. 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.

Speak to a Home Loan Specialist
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Speak to a Home Loan Specialist
Tell us what you're looking for and we'll be in touch
I'm buying a property
I'm building or renovating
I'm refinancing
Discuss my Great Southern Bank Home Loan
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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?
If you are unsure, please enter an approximate amount.
The minimum amount you can borrow is $100,000
When would you like to borrow?
If unsure, please select an approximate timeframe.
Within 3 months
In 3+ months
Are you a Great Southern Bank customer?
Great Southern Bank was previously known as CUA.
Do you have a home loan with Great Southern Bank?
Great Southern Bank was previously known as CUA.
Would you like to tell us anything else?
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Tell us a little more about your plans
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What stage are you at?
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How much is your current mortgage?
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Call us on 133 282
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First Home Guarantee
Family Home Guarantee
Regional First Home Buyer Guarantee

The Australian Government has introduced initiatives to support eligible Australians to build or purchase a new home sooner: the First Home Guarantee, Family Home Guarantee and Regional First Home Buyer Guarantee.

Thanks [Name], we'll speak to you soon
One of our Home Loan Specialists will call you on [0413 456 789] at your preferred time.
To help you get the most out of your call, we recommend having some details ready:
  • Identification details
  • Details of your income and expenses
  • Financial details, including what you own and what you owe
In the meantime, if you have any questions, we’d be happy to help.
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