Comparing home loans is one of the most impactful financial decisions you can make — even a 0.5% difference on a $600,000 loan is worth over $150 per month. Here’s a comprehensive comparison of the best home loan rates in Australia for April 2026.
Best Variable Rate Home Loans — April 2026
| Lender | Variable Rate | Comparison Rate* | Repayment ($600k, 30yr) | Offset |
|---|---|---|---|---|
| UBank UHomeLoan | 5.35% | 5.37% | $3,342 | ✅ |
| Athena Straight Up | 5.49% | 5.49% | $3,405 | ✅ |
| Tic:Toc Variable | 5.54% | 5.55% | $3,427 | ✅ |
| Unloan Variable | 5.69% | 5.60% | $3,494 | ❌ |
| NAB Base Variable | 5.99% | 6.01% | $3,591 | ✅ |
| ANZ Simplicity PLUS | 6.14% | 6.16% | $3,659 | ❌ |
| CBA Standard Variable | 6.29% | 6.31% | $3,728 | ✅ |
*Comparison rate based on $150,000 loan over 25 years. WARNING: Different amounts and terms will result in different comparison rates. Fees and charges may apply.
Best Fixed Rate Home Loans — April 2026
| Lender | 1yr Fixed | 2yr Fixed | 3yr Fixed | Extra repayments |
|---|---|---|---|---|
| Macquarie Bank | 5.59% | 5.69% | 5.79% | Up to $10k/yr |
| NAB | 5.79% | 5.89% | 5.99% | Up to $20k/yr |
| Westpac | 5.89% | 5.99% | 6.09% | Up to $30k/yr |
| CBA | 5.99% | 6.09% | 6.19% | Up to $10k/yr |
Online Lenders vs Big 4 Banks — The Rate Gap
The gap between the cheapest online lenders and the Big 4 banks is currently around 0.7–1.0% p.a. On a $600,000 loan over 30 years, that’s a difference of approximately $250–$350 per month, or $90,000–$125,000 over the life of the loan.
Online lenders like UBank, Athena, and Tic:Toc can offer lower rates because they have lower operating costs and typically don’t have branch networks. The trade-off is fewer features and less human support.
What to Look For Beyond the Rate
- Offset account — reduces the interest you pay by keeping cash offset against your loan balance
- Redraw facility — access extra repayments if you need cash
- Extra repayments — ability to pay off the loan faster without penalty
- Annual fees — even a $395/yr package fee adds $11,850 over 30 years
- Portability — ability to take the loan with you if you sell and buy again
Calculate Your Home Loan Repayments
Compare repayments at any rate and see how much you could save by switching.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional before making financial decisions.