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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 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.8
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.7

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.

Rates

Loan type
Loan purpose
Loan-to-Value Ratio* 3
Interest Rate**
Comparison Rate^
LVR is 80% or less
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 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.
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3.44% p.a.
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3.14% p.a.
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3.17% p.a.
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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 1 June 2021 only.

Fees

Establishment Fee
$600
Security Administration Fee
$235
Monthly Fee
$0
Annual Fee
$0

Other fees may apply.

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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 13 June 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 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 received on or after 1 June 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 Offset 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 Offset 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 Offset Variable Principal & Interest Reference Rate applicable at the time, 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.

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

8 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.

^ 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.