See how much you can save
Your repayment changes
with an interest rate of 6.25%
This calculator provides general information only and should not be relied on to make a decision about a financial product. You should consider obtaining advice from an appropriately licensed financial services professional before making any financial decisions.
Important information
New repayment is for the repayment type, interest rate, loan balance, and years remaining on loan that has been input. It assumes the interest rate remains the same for the term of the loan. Changes in interest rates, loan balance and loan term will affect the new repayment amount.
The results from this calculator should be used as an indication only.
The outputs are based on a 364 day year; one year is assumed to contain exactly 52 weeks or 26 fortnights. All months and fortnights are assumed to be equal. Given some months are longer than others interest charged will vary depending upon the month.
The calculations do not take into account fees, upfront costs, charges or other amounts that may be charged to your loan (such as monthly or annual service fees). Continuing fees and charges will affect the repayment amount.
The calculator assumes that interest is charged to the loan account at the same frequency as the repayments are made. In practice, there may be differences between the timing of the loan repayments and the timing of the interest charges being added to the loan balance.
The amounts shown are rounded to the nearest dollar.
Refinancing a home loan
Refinancing is when you take out a new home loan – usually to get a better deal or interest rate.
Complete the form and we’ll connect you with one of our experienced Home Loan Specialists to discuss your goals, eligibility and next steps.
When you’re ready, we’ll help you prepare and submit your application.
Your specialist will guide you through the rest of the process from approval to settlement, including how to sign your loan documents digitally.
Refinancing explained
Find the answers to frequently asked questions here.
Refinancing is when you take out a new home loan to replace your existing home loan. This can be with your existing lender or a new one.
Learn more about how to refinance a home loan.
Refinancing can help you save by offering a lower interest rate than you have with your current lender. This means lower minimum repayments and less interest over the life of your loan.
Depending on the features of your current loan, refinancing with Great Southern Bank could also help you save by avoiding monthly or annual fees, utilising a linked offset account to further reduce your interest payments, and by allowing you to make unlimited extra repayments free of charge.
Switching to Great Southern Bank means you can also use The Boost to help pay down your loan faster and further reduce the amount of interest you owe.
If you’re moving to a new home loan provider, you may be required to pay your old one a discharge fee. Similarly, there may be early payout costs if you’re refinancing a fixed rate loan before the end of the fixed term. Additionally, there may be application and/or establishment fees with your new lender, and potentially Lenders’ Mortgage Insurance (LMI) if your loan-to-value ratio (LVR) is more than 80%.
There is no hard and fast rule about when to refinance a home loan. Having said this, it’s clearly a bad idea if the costs involved in doing so outweigh the savings. It is important to thoroughly research the implications for your personal situation before making a decision to refinance.
HOME LOANS
- Competitive rates
- Fee-free extra repayments
- Smart tools and clever features to help you own your home sooner
- Up to $3,000 cashback on eligible refinance home loans.~Cashback
Get savvy with refinancing
We’ve got lots of tips to help you refinance your home loan with confidence.
How do you know you’re eligible to refinance your home loan?
Sure, you can refinance your home loan whenever you want, but are you actually eligible to do it? Learn if you’re eligible to refinance in our handy article.
Read moreCost of refinancing your home loan
Refinancing often means you can get a sweet deal on your interest rate. But how much does it cost? We break down the cost considerations to factor in, so you know if it's worth it.
Read moreLooking for more home loan calculators?
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.
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 22 May 2026. 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.
^ 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.
~Cashback offer available for Eligible Applicants who apply for an Eligible Loan between 1 September 2026 and 1 February 2027. To be an Eligible Applicant you must be an Australian resident aged 18+. An Eligible Loan is a loan that is a refinance of an existing home loan from another financial institution to Great Southern Bank or an investment property loan with Great Southern Bank. The Offer is only available for applications submitted directly to Great Southern Bank and is not available for applications submitted through a broker or other third party. To be eligible, the loan must be for a total loan amount of at least $400,000, have a loan to value ratio of 90% or less and be approved and funded on or before 30 June 2027. Great Southern Bank will pay a Cashback Payment of $2,000 for Eligible Loans between $400,000 and $699,999 and a Cashback Payment of $3,000 for Eligible Loans of $700,000 or more. For Eligible Loans with multiple borrowers, only one Cashback Payment will be paid.
Full terms and conditions are available at: www.greatsouthernbank.com.au/cashback-terms-and-conditions.
Fixed Rate Home Loan
Owner Occupiers
- Principal & Interest repayment: 95% maximum Loan to Value Ratio (LVR) including Lenders Mortgage Insurance (LMI)
- Interest Only repayment: 90% maximum LVR including LMI
Investors
- Principal & Interest repayment: 90% maximum LVR including LMI
- Interest Only repayment: 90% maximum LVR including LMI
Basic Variable Home Loan
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
Investors
- 90% maximum LVR including LMI
Offset Variable Home Loan
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
Investors
- 90% maximum LVR including LMI