Australia’s largest customer-owned bank
Trusted by Australians for over 75 years
Helping you live happily clever after

Features you'll love investing in

Repayment certainty
Easily manage your repayments knowing they won't change for two, three, or five years.
Fee-free extra repayments
Enjoy the flexibility to make up to $30,000 in total extra repayments during your fixed rate term.1
Free redraw
Access your additional home loan repayments with our free redraw facility. Just in case you need it.2
Flexible repayment options
Choose from weekly, fortnightly or monthly repayments to suit your rental income.
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.

Why choose Great Southern Bank?

We’re committed to helping ordinary Australians reach their financial goals and then some. We do this by providing smart tools and clever solutions to make investing in property simple and achievable.

Plus, we’re customer-owned, which means no shareholders. Our profits go into creating new and clever ways to help you manage your money today so you can build wealth today and thrive financially tomorrow.

Get started today
Apply for a home loan or to refinance online.

Rates & fees

Compare our rates and weigh up your options.

Split Loans are available

If you like the certainty of a fixed rate but want to make more than $30,000 in extra repayments, a split loan may be right for you. To get the best of both worlds, ask your Home Loan Specialist when you apply.


Loan type
Loan purpose
Interest Rate 4
Comparison Rate^
1 year
2.04% p.a.
2.79% p.a.
2.39% p.a.
2.49% p.a.
3.65% p.a.
3.71% p.a.
4.07% p.a.
4.08% p.a.
2 years
1.94% p.a.
2.79% p.a.
2.19% p.a.
2.29% p.a.
3.48% p.a.
3.63% p.a.
3.88% p.a.
3.90% p.a.
3 years
2.02% p.a.
2.35% p.a.
2.45% p.a.
3.36% p.a.
3.76% p.a.
3.79% p.a.
5 years
2.59% p.a.
2.99% p.a.
3.09% p.a.
3.34% p.a.
3.75% p.a.
3.79% p.a.

Loan type T&Cs apply.3,5


Establishment Fee
Security Administration Fee
Monthly Fee
Annual Fee

Other fees may apply.6

The Boost
Pay down your home loan faster

Simply set an amount between $0.01 and $5 to automatically transfer to your home loan account every time you use your Great Southern Bank Visa Debit card. You’ll be making extra repayments every time you spend.

You could pay off an extra $2,000 a year

When you set up one $2 Boost and make an average of three transactions a day, you’ll repay over $2,000 a year without having to think about it!

Save time and money

With extra repayments of $2,000 per year or more, easily achievable with The Boost, you could shave years off your repayment term. Use our refinance calculator to see what your spare change can do for you.

Start your application today
1. Check your eligibility
Simply check if you qualify

Applicants must be:
· At least 18 years of age
· A permanent resident of Australia

Eligibility for Investors
· Principal & Interest repayment:
· 90% maximum LVR including LMI
· Interest Only repayment: 90%
maximum LVR including LMI

and gather your documents.

You will need:
· Proof of identity, such as a passport or driver licence.
· 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.
2. Apply online

You may be able to apply for a home loan online. If you’re unable to apply online, we’ll take your details and one of our friendly Home Loan Specialists will be in touch.

3. 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?

Trusted by Australians for over 75 years

From small beginnings as a credit union to Australia's largest customer-owned bank. Helping people manage their finances is in our DNA.

Our home loans have won awards, but our true passion is helping people realise their great Australian Dream, and we can't wait to help you achieve yours.

“The process from application to settlement was seamless. Great communication and first-class support.”
“The staff were very professional and helpful, and my home loan was processed smoothly and efficiently.”
“Low comparable rate. I especially love the freedom of the off-set account.”

Crunch the numbers


Home loans explained

What is the Loan to Value Ratio (LVR)?
The Loan to Value Ratio (LVR) is the amount of the loan compared to the value of the property. Typically, the more deposit you have the smaller the LVR percentage will be. For example, if the home you’d like to buy is valued by the bank at $400,000 and you need a loan of $320,000 to purchase it your LVR is 80%. To get the LVR: $320k ÷ $400k = 80% LVR.

LVR is set at the time of your loan approval, 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 80% or lower LVR also means you could avoid paying Lenders’ Mortgage Insurance (LMI).
What is Lenders’ Mortgage Insurance (LMI)?
Lenders’ Mortgage Insurance (LMI) is typically paid when a borrower has less than a 20% deposit. This is a one-off insurance payment which protects your mortgage lender if you default on the loan. The premium can vary depending on the lender, loan amount and your deposit amount. Most lenders allow you to choose if you’d like to pay it upfront or add this to your loan amount and include in your repayments.
What is pre-approval?
A home loan pre-approval is an indication of how much you can borrow. It’s a great way to get started as pre-approval will give you a good idea of how much you can spend on a home and make an offer on a property quickly and easily.

Transitioning to a fully approved home loan will depend on the type of property you find, and your income being confirmed. You may also need to verify other financial details or meet additional conditions. Your Home Loan Specialist will step you through this process.

Pre-approvals normally last for 90 days. If you haven’t found a property at the end of the 90 days, you can apply to extend your pre-approval.
What is the difference between fixed and variable?
A fixed rate means that the rate of interest you’re charged on your home loan won’t change for a set period. Your repayment amount will stay the same and you’ll know exactly how much you have to pay each week, fortnight, or month. However, if the lending rate decreases, you won’t be able to take advantage of the lower rate.
The length of time an interest rate is fixed can vary depending on your home loan, but typically it’s between one and five years. When the fixed period is finished, the loan will often revert to a variable home loan rate, unless you arrange with your lender to fix it again.
If your home loan has a variable rate, the rate of interest you pay can go up or down and your repayment amount may vary.
Both fixed and variable rate home loans have their own benefits. Our Home Loan Specialists are also here to help if you are unsure which one is right for you.
Ready to take the next step?
Get started with your Great Southern Bank Home Loan.
Apply Now
Connect 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 - 7:00pm (AEDT)
Sat: 8:00am - 4:00pm (AEDT)

Important Information

Rates current as at 28 September 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 A daily transfer will refund any amounts paid in advance in excess of the total advance repayments allowed during the fixed rate period ($30,000) unless sufficient to pay out the loan in full (in which case an Early Payout Cost may apply). Excess funds will be transferred to the nominated deposit account, which must remain open for the fixed rate period.

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

3 Fixed Rate loans are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of existing home loans; and the application is received on or after 28 September 2021. Maximum Loan to Value Ratio is inclusive of Lenders Mortgage Insurance and Great Southern Bank loan setup fees where applicable.

4 On expiry of the fixed rate period, the loan reverts to the Basic Variable Reference Rate relevant to your loan purpose and repayment type which applies at the time of expiry.

5 For Interest Only loans, a maximum interest only period of 36 months applies for owner occupier loans and 60 months for investor loans. The interest only period must align with the fixed rate period. 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. 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.

6 An Early Payout Cost may apply if the loan is terminated during the fixed rate period. A partial Early Payout Cost may apply if a reduction to the principal is requested during the fixed rate period. Click here to view the Early Payout Cost Factsheet.

^ 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.