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Interest-Only Home Loans

An interest-only home loan will leave you only paying interest for the first few years of your loan.

Multi-award winning

  • awards
  • awards
  • awards

Variable Home Loan

6.54
%
p.a
Rates from***
6.41
%
p.a
Comparison rate*
  • Discounted home loan rate***
  • Offset sub-account available for +0.10%^
  • No monthly or ongoing fees
  • Free redraw on any additional repayments
  • Pay your bills via BPAY
  • Access your account via Smart Money app
Our Google Rating
4.5
463 reviews

Our home loans

Loan reasons
Loan type
Home Loan Interest Rate Comparison Rate Monthly Repayment Product Features Details

Variable Home Loan

Owner Occupied Interest Only Up to 80% LVR
6.54% p.a. 6.41% p.a.  $2,725
  • Discounted home loan rate***
  • 20% deposit minimum
  • Offset sub-account available for +0.10%^
  • No monthly or ongoing fees
  • Fee free redraw on any additional repayments
  • Pay your bills via BPAY
Do I Qualify?

Green Home Loan

Owner Occupied Interest Only Up to 80% LVR
6.49% p.a. 6.66% p.a.  $2,704
  • Discounted 5yr green home loan rate~~
  • 20% deposit minimum
  • Offset sub-account available for +0.10%^
  • No monthly or ongoing fees
  • Fee free redraw on any additional repayments
  • Pay your bills via BPAY
Do I Qualify?

Solar Home Loan

Owner Occupied Interest Only Up to 80% LVR
6.49% p.a. 6.66% p.a.  $2,704
  • Discounted 5yr solar home loan rate~~~
  • 20% deposit minimum
  • Offset sub-account available for +0.10%^
  • No monthly or ongoing fees
  • Fee free redraw on any additional repayments
  • Pay your bills via BPAY
Do I Qualify?
2024 WeMoney - Best Value for Refinance 2023 WeMoney - Best for Value (Variable) 2024 Mozo - Expert's Choice for Best Green Home Loan Gold Award - Best Green Home Loan 2022 WeMoney - Outstanding Customer Service
Our home loan products are recognised & awarded by the Australian financial industry

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Why choose a Interest-Only Home Loan?

Interest only period

Enjoy lower repayments during the interest-only period of your home loan so you can save extra cash or renovate.

Perks for Investors

Reap potential tax benefits by offsetting rental income against your costs, and use the extra cashflow to renovate your property.

We'll switch you

We will notify you of the change, the new repayment amount and automatically transfer your loan to principal and interest.

Unexpected events

Temporarily reducing your home loan repayments could help ease some financial pressure, when life's unexpected events happen.

A home loan that gives you budget confidence

Here’s your new offer

Rates

Owner Occupier

Variable Home Loan

1 Year Fixed

2 Year Fixed

3 Year Fixed


Interest Rate:

6.54% p.a.***

6.94% p.a.*

6.74% p.a.*

6.64% p.a.*

Comparison Rate:

6.41% p.a.*

6.36% p.a.*

6.38% p.a.*

6.40% p.a.*

Max LVR:

80%

80%

80%

80%


Investor

Variable Investor Home Loan

1 Year Fixed

2 Year Fixed

3 Year Fixed

Interest Rate:

6.74% p.a.+

7.14% p.a.*

6.94% p.a.*

6.84% p.a.*

Comparison Rate:

6.66% p.a.*

6.64% p.a.*

6.66% p.a.*

6.66% p.a.*

Max LVR:

90%

80%

80%

80%

Key Features

Up to 30 years loan term

Available for refinance or purchase

Flexible repayment options

Repayments

Frequency

Monthly

Estimated repayments

$2,725 per month#

The monthly repayment estimate is based on a $500,000 loan over 30 years at 6.54% p.a. paying interest only.

Fees

Application fee

$0

Ongoing fees

$0

Security assessment fee

$230

Government fees

At cost

Settlement fee

$300

Optional rate lock fee

$350*^

Owner Occupier

Variable Home Loan

Interest Rate:

Comp Rate:

Max LVR:

6.54% p.a.***

6.41% p.a.*

80%

1 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

6.94% p.a.*

6.36% p.a.*

80%

2 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

6.74% p.a.*

6.38% p.a.*

80%

3 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

6.64% p.a.*

6.40% p.a.*

80%

Investor

Variable Investor Home Loan

Interest Rate:

Comp Rate:

Max LVR:

6.74% p.a.+

6.66% p.a.*

90%

1 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

7.14% p.a.*

6.64% p.a.*

80%

2 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

6.94% p.a.*

6.66% p.a.*

80%

3 Year Fixed

Interest Rate:

Comp Rate:

Max LVR:

6.84% p.a.*

6.66% p.a.*

80%

Up to 30 years loan term

Available for refinance or purchase

Flexible repayment options

Frequency

Weekly, monthly or fortnightly

Estimated repayments

$2,725 per month#

The monthly repayment estimate is based on a $500,000 loan over 30 years at 6.54% p.a. paying interest only.

Application fee

$0

Ongoing fees

$0

Security assessment fee

$230

Government fees

At cost

Settlement fee

$300

Optional rate lock fee

$350*^

2024 WeMoney - Best for Value (Refinance) 2023 WeMoney - Best Value for Variable 2024 Mozo - Expert's Choice for Green Home Loan Gold Award - Best Green Home Loan 2022 WeMoney - Outstanding Customer Service
Our home loan products are recognised & awarded by the Australian financial industry

Get ahead with the right home loan

Get a pre-approval decision quickly.

Our home loan application process

1
Application

Application

Simply fill out your home loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.

2
onTrack

onTrack

After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.

3
Speak to specialist

Speak to specialist

You will then have an appointment with one of our lending specialists to organise your preliminary approval of your loan, and help you progress through the home loan approval process through to settlement as quickly as possible.

4
Signing document

Signing document

Check onTrack to received your final approval, mortgage documents and loan agreement. You must sign these and return them in to onTrack.

5
Settlement

Settlement

Your loan will settle and you’ll start saving with your new loan rate, and get your keys to your new dream home!

6
Access your account

Access your account

Once settlement is complete, we will send your login credentials to start managing your payments in the Smart Money app.

Frequently Asked Questions

You can compare our interest only home loan options here.

Yes, you can make additional payments on an interest-only loan. If the interest-only loan is on a variable interest rate, you can make unlimited additional repayments. If the interest-only loan is on a fixed rate, you can make additional repayments of up to $10,000 per fixed year without penalty.

A loan can be on interest only repayments for a period of 1-5 years.

The main thing to consider with an interest-only home loan is if it is really best for your financial situation. While interest-only home loans are a great option for investors and home-owners alike, they are typically better suited for investors for tax purposes. At the end of your interest only period, you will need to start paying back the principal as well as the interest on your loan, and you can expect your principal and interest repayments to be higher as you are paying back the principal over a shorter amount of time (ie. 25 years vs 30 years)

Get ahead with the right home loan

Get a pre-approval decision quickly.

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