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Our home loans come with

$0 monthly or annual fees
You could save thousands over the life of your loan.
Repay your way
Choose from weekly and fortnightly repayments to save on interest. Or monthly repayments to suit your schedule.
The Boost
The Boost gets your mortgage dropping every time you use your Great Southern Bank Debit Card.12
Flexible home loan options
Including splitting between fixed and variable rates to get the best of both worlds.
Compare home loans
Calculators
How to guides
Compare home loans

Compare Home Loans

The property price is an estimated value of the property only.
Not including upfront costs like stamp duty and conveyancing fees.
You may need to pay lenders mortgage insurance (LMI) because your loan to value ratio (LVR) is more than 80%.
Loan purpose
Loan type
Basic Variable
All the features you need and nothing you don't.
Discounted rates from
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
Competitive discounted variable rate.
$0 monthly or annual fees.
Unlimited extra repayments.
Redraw at any time for free5.
^Comparison rate warning and T&Cs apply.
New and additional lending only and subject to eligibility.1,2
Offset Variable
100% offset home loan that makes saving on interest easy.6
Discounted rates from
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
100% Multi-Account Offset6.
Unlimited extra repayments.
Smart features like split loan options and top-ups.
Redraw at any time for free5.
^Comparison rate warning and T&Cs apply.
New and additional lending only and subject to eligibility.1,2
Fixed Rate
A competitive fixed rate plus the flexibility to pay up to $30,000 in extra repayments during the fixed term7,8
6.79
%
p.a.
Comparison rate^
7.16
%
p.a.
Repayments
$1,922
Monthly
Borrowing $500,000 over 30 years paying principal and interest. Repayments are an estimation only.*
Features
Certainty of repayments for the fixed period.
$30,000 in extra repayments during fixed term7.
Redraw your extra repayments any time for free5.
Lock in your rate before settlement11 See how it works.
^Comparison rate warning and T&Cs apply.
Subject to eligibility. Rate period applies9,10
Calculators
Our home loan calculators
How to guides

Our how to guides for every home buying stage

First home

Discover all the steps towards owning your first home.

Refinancing

Thinking of refinancing you home loan? Find out all you need to know.

Investing

Wanting to buy an investment property? We can help you start or grow your portfolio.

Next home

Need more room or wanting to downsize?  We’re here to help you find the perfect fit.

Renovating

Whether it’s a new bathroom, kitchen or an extension, we’ve got you covered.

Building

Make your dream home a reality with these simple steps.

Still deciding? Find out more and compare home loans here.

OFFER
Enjoy a $600 saving with $0 establishment fee when you apply online! #

Great Southern Bank Home Loans

Whether you’re buying your first home, refinancing, upgrading, or looking for an investment property, we’ve got a home loan option for you.

More than just a great rate

Competitive rates are a must-have, but we believe our customers deserve more. That’s why our loans are designed with smart tools and clever features to help you pay down your mortgage faster.

Australian support team

Our Home Loan Specialists are locally based and will guide you through the entire process.

FAQS

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.
How can I plan for repayment changes?

If your rate is changing or you're thinking about making changes to your loan, you can use our handy calculators to give you an estimate of the impact on your minimum repayment amount.

For more information and advice on loan repayments, drop into your local branch or call us on 133 282.

What calculation method does Great Southern Bank use?

We use a method called monthly amortisation to calculate your repayments. This means your repayment amount is based on a monthly average of 31 days and is charged on the same day each month. Interest charges are calculated on your home loan balance daily and charged at the end of the month. The interest is debited on the last day of the month, and you can view your interest debits in online or mobile banking.

What is Lenders Mortgage Insurance (LMI)?

If your deposit is less than 20% of the property’s value, most financial institutions will require Lenders’ Mortgage Insurance (LMI). LMI is taken out to protect the lender in case of default. It’s a one-off cost and is generally included in the total value of the loan.

What is Loan to Value Ratio (LVR)?

The Loan to Value Ratio (LVR) is the amount of the loan compared to the value of the property. The higher deposit you have, the lower your LVR will be.

LVR is expressed as a percentage. For example, if the home you’d like to buy is valued by the bank at $400,000 and the loan you need to purchase it is $320,000. The LVR is: $320k ÷ $400k = 80% LVR.

The LVR is 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 the difference between the interest rate and the comparison rate?

A comparison rate will help you identify the true cost of the loan, which includes the interest rate plus all the relevant fees and charges for a loan. Comparison rates are useful when comparing different home loans to find the best deal. However, it’s always worth bearing in mind that the advertised comparison rate for a loan will be based on a sample loan amount and term.

REFINANCE
Mortgage need enhancing?
Get clever refinancing.
Smart ways to pay off your home loan sooner.
SAVE TO OWN
Saving for your first home?
Realise your dream of home ownership with these smart steps.
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PODCAST
The Clever Way Home
A podcast series designed to help simplify the home buying process.
The Clever Way Home podcast

Handy tools

Take the guesswork out of choosing a home loan or refinancing.

Repayments calculator

Calculate your repayments before you apply.

Compare home loans

Compare our home loans along with any relevant fees and charges.

WHY CHOOSE US

Did you know we're customer owned?

That means no shareholders. Our profits go back into new products and clever ways to help you manage your money. And we've been doing so for over 75 years!

But don't just take our word for it. Here's what some of our customers have to say.

“Wayne was an absolute champ during the whole process! Always letting me know what I needed to do and all while answering all the dumb questions I had.”

Home loan tips & tricks

Read more about buying a home or investment property
Fixed versus variable: What’s the difference in a nutshell?

What's the differences between a fixed and variable rates, and are there any other options?

Read more
9 common mistakes to avoid when refinancing a home loan

Thinking about refinancing your home loan? Make sure you avoid some of the more common mistakes with our handy guide.

Read more
Buying your first home

Want to buy your first home, but dont know where to start? Get access to accurate information, tools & support to help you reach your goal.

Read more
Government schemes and grants for first homebuyers

Financial assistance is available for first homebuyers. Learn about Australian Government schemes and grants here.

Read more
View all blog articles
Get in touch
We're here to help.
Call 133 282
Mon - Fri: 8:00am - 6:00pm (AEDT)
Find a branch
Speak to one of our friendly staff at a branch near you.
Connect online
Chat to us or browse help topics and FAQs.
Important information

Rates are current as at 7 March 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.

* Repayment is indicative only based on the stated information. Changes in interest rates, repayment frequency and loan term will affect the repayment amount. The calculations do not take into account fees, charges or other amounts that may be charged to the loan (such as establishment fees and security administration fees). If you are borrowing more than 80% of the value of the property, Lenders’ Mortgage Insurance may apply. Any of these additional amounts will increase the repayments under the loan. Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security, and minimum deposit requirements. Conditions apply to all loan options.

1 Discounts off the Basic Variable and 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 unconditionally approved on or after 7 March 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 and 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 For Interest Only loans, a maximum interest only period of 36 months applies for owner occupier loans and 60 months for investment loans. For Fixed Rate loans, the interest only period must align with the fixed rate period. On expiry of the Fixed Rate interest only period, loans will revert to the Basic Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry. On expiry of the Basic Variable interest only period, loans will revert to the Basic Variable Principal and 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. On expiry of the Offset Variable interest only period, loans will revert to the Offset Variable Principal and 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.

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

6 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.

7 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.

8 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.

9 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. Maximum Loan to Value Ratio applies and includes Lenders' Mortgage Insurance and Great Southern Bank loan setup fees where applicable.

10 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.

11 Fixed Rate Lock is available to new applications from 27 April 2022. Great Southern Bank will apply the fixed interest rate applicable on the day of settlement unless a completed Fixed Rate Lock request form is received by us before the unconditional approval of your loan application. Fixed Rate Lock is a feature that allows customers to lock in the applicable fixed interest rate from the date we process your request, which will be once your application is submitted with all supporting documents, and you will be protected against interest rate rises for 90 days from such date.  A non-refundable Fixed Rate Lock Fee applies to each fixed rate loan that is locked, refer to our Lending Schedule of Fees for the fee amount. 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. Full terms and conditions apply and are available here.

12 The Boost is not available on business accounts.

To view the Target Market Determination for this product, please click here.

#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 30/06/2024 and settled by 30/09/2024. 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.

Speak to a Home Loan Specialist
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I'm buying a property
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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?
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Are you a Great Southern Bank customer?
Great Southern Bank was previously known as CUA.
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Do you have a home loan with Great Southern Bank?
Great Southern Bank was previously known as CUA.
Yes
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Would you like to tell us anything else?
For security, never include any bank account or card details in your enquiry. You can provide this information later if it's needed.
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Tell us a little more about your plans
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How much is your current mortgage?
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What would you like to discuss?
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How would you like to connect?
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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.

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One of our Home Loan Specialists will call you on [0413 456 789] at your preferred time.
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In the meantime, if you have any questions, we’d be happy to help.
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