Australian Home Loan Rates — Monthly Comparison
ozLoan tracks advertised rates from 30+ Australian lenders — the Big Four, regional banks, non-banks and digital challengers. The table below is the cross-market snapshot for April 2026 (owner-occupier, principal & interest, 80% LVR). The lowest value in each column is bolded, and rows marked ✻ are the ones running a cash-back offer this month.
| Lender | Variable Variable | 2Y Fixed 2Y Fixed | 3Y Fixed 3Y Fixed | 5Y Fixed 5Y Fixed | Cash-back Cash-back |
|---|---|---|---|---|---|
| AMP Bank | 5.93 | 6.09 | 6.19 | 6.59 | — |
| ANZ ✻ | 6.14 | 6.39 | 6.49 | 6.69 | $3,000 |
| Auswide Bank | 5.99 | 6.19 | 6.29 | 6.59 | — |
| Bank of China ✻ | 5.68 | 6.09 | 6.19 | 6.49 | Discount Plus† |
| Bank of Melbourne | 6.04 | 6.14 | 6.24 | 6.54 | — |
| Bank of Sydney | 5.89 | 6.19 | 6.29 | 6.59 | — |
| Bank Australia | 5.94 | 6.24 | 6.34 | 6.64 | — |
| BankSA | 6.04 | 6.14 | 6.24 | 6.54 | — |
| Bankwest | 5.94 | 6.19 | 6.29 | 6.59 | — |
| Bendigo Bank | 5.99 | 6.14 | 6.24 | 6.54 | — |
| Beyond Bank | 5.89 | 6.19 | 6.29 | 6.59 | — |
| BOQ | 5.83 | 6.19 | 6.29 | 6.59 | — |
| Commonwealth Bank (CBA) | 6.14 | 6.34 | 6.44 | 6.69 | — |
| Firstmac | 5.89 | 6.19 | 6.29 | 6.59 | — |
| Gateway Bank | 5.94 | 6.19 | 6.29 | 6.59 | — |
| Great Southern Bank | 5.89 | 6.14 | 6.24 | 6.54 | — |
| Heritage Bank | 5.99 | 6.19 | 6.29 | 6.59 | — |
| HSBC | 5.89 | 6.19 | 6.29 | 6.59 | — |
| IMB Bank ✻ | 5.89 | 6.19 | 6.29 | 6.59 | $4,000§ |
| ING | 5.89 | 6.19 | 6.29 | 6.59 | — |
| Macquarie Bank | 5.89 | 6.14 | 6.24 | 6.54 | — |
| ME Bank ✻ | 5.94 | 6.19 | 6.29 | 6.59 | $3,000‡ |
| MyState Bank | 5.94 | 6.19 | 6.29 | 6.59 | — |
| NAB | 6.14 | 6.39 | 6.49 | 6.69 | — |
| Newcastle Permanent | 5.74 | 6.04 | 6.09 | 6.49 | — |
| Police & Nurses (P&N) | 5.89 | 6.14 | 6.24 | 6.54 | — |
| Qudos Bank | 5.94 | 6.19 | 6.29 | 6.59 | — |
| St.George | 6.04 | 6.14 | 6.24 | 6.54 | — |
| Suncorp Bank | 5.83 | 6.14 | 6.24 | 6.54 | — |
| Teachers Mutual | 5.94 | 6.19 | 6.29 | 6.59 | — |
| ubank | 5.84 | 6.14 | 6.24 | 6.54 | — |
| Virgin Money ✻ | 5.59 | 6.14 | 6.24 | 6.24 | $4,000 |
| Westpac | 6.14 | 6.34 | 6.44 | 6.69 | — |
† Bank of China's former $2,888 Cash Rebate offer ended on 2026-03-31 and has been replaced from April 2026 by the Discount Plus Home Loans promotion — actual discount depends on broker-negotiated banker discretion.
‡ ME Bank $3,000 applies to refinance only, minimum $700k loan size, LVR < 80%.
§ IMB Bank cap $4,000, LVR < 80%.
Lowest variable rate this month: Virgin Money 5.59%, followed by Bank of China 5.68% and Newcastle Permanent 5.74%. On the fixed side, Newcastle Permanent leads both 2Y and 3Y. On pure cash-back, Virgin Money $4,000, IMB $4,000, ME Bank $3,000 and ANZ $3,000 are the front-runners. Non-cash promotions worth noting include Suncorp's Home Package Plus lifetime fee waiver, Great Southern Bank's $0 Establishment Fee, and ORDE Financial's $2m–$3m large-loan margin waivers. Your actual approved rate depends on LVR, loan size, income structure, repayment type and the bank's current promos — broker-negotiated pricing is commonly 20–40 bps below the advertised rates in the table.
How to choose — three common questions
Variable or fixed?
The RBA cash rate currently sits above the long-run median, with markets pricing cuts into the second half of 2026. If you’re likely to sell, refinance or pay down early within the next 1–2 years, variable is usually the better call. If your priority is certainty of monthly repayments or locking cash flow for the next 2–3 years, consider a pure fixed loan or a split — half fixed, half variable.
Is the cash-back worth chasing?
A $3,000–$4,000 cash-back looks attractive — until you compare rates. If chasing the rebate costs you 15–20 bps on the rate, a $1M loan pays an extra $1,500–$2,000 interest per year, and the rebate is fully clawed back in 1–2 years. Cash-back is only a real bonus when the underlying rate is still competitive.
Why is my actual rate different from the table?
The table shows banks’ published advertised rates. Your actual approved rate depends on LVR (lower is better), loan size (loans above $1M typically unlock extra margin), owner-occupier vs. investment, P&I vs. interest-only, feature packs like offset / redraw, and the banker discretion discount a broker can negotiate. As a licensed MFAA-member mortgage broker, ozLoan compares real approval pricing from 30+ lenders so you can pick the rate + feature mix that actually fits.
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Source: Brokerpedia public rate database, last verified 2026-04-22. Rates and cash-back terms may change without notice — the lender’s formal approval letter always prevails. This page is general information and does not constitute personalised financial advice. ozLoan is a licensed Mortgage Broker, MFAA member, ACL / ASIC compliant.