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Compare the best home loan rates from the big four banks – ANZ, Commonwealth Bank, NAB and Westpac.
Rates starting from 5.24% p.a. (comparison rate^ 5.25% p.a.)
Get expert help finding your best home loan fit
Our dedicated Home Loan team is here to help. Updated 13 Feb 2026.
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Loans.com.au Variable Bare Home Loan
Borrow up to $2m with competitive variable rates from 5.54% p.a. (comparison rate^ 5.58% p.a.). Enjoy flexible payment options, zero monthly or ongoing fees, unlimited free redraws and up to 30 year terms. 90% Max LVR applies. Visit site for T&Cs and to check eligibility.
Loan amount
| Product | Interest rate | Comparison rate | Monthly repayment | Key features | Compare Now |
|---|---|---|---|---|---|
 Westpac Flexi First Online Offer Owner Occupied | 5.24% p.a. variable | 5.25% p.a. | $2,758 Principal & Interest | Max LVR 80% Redraw Split Loan | |
 CommBank Digi Home Loan Owner Occupied | 5.34% p.a. variable | 5.47% p.a. | $2,789 Principal & Interest | Max LVR 60% Offset App Fee $300 | |
 ANZ Fixed Rate Home Loan | 5.44% p.a. fixed 2 years | 6.29% p.a. | $2,820 Principal & Interest | Max LVR 80% Split Loan | |
Westpac Premier Advantage Rocket Repay Home Loan Fixed | 5.49% p.a. fixed 1 year | 6.00% p.a. | $2,836 Principal & Interest | Max LVR 70% Redraw Split Loan | |
ANZ Fixed Rate Home Loan | 5.49% p.a. fixed 1 year | 6.61% p.a. | $2,836 Principal & Interest | Max LVR 80% Split Loan | |
Westpac Premier Advantage Rocket Repay Home Loan Fixed | 5.59% p.a. fixed 2 years | 6.00% p.a. | $2,867 Principal & Interest | Max LVR 70% Redraw Split Loan | |
Westpac Premier Advantage Rocket Repay Home Loan | 5.64% p.a. variable | 6.02% p.a. | $2,883 Principal & Interest | Max LVR 70% Offset Redraw | |
ANZ Fixed Rate Home Loan | 5.64% p.a. fixed 3 years | 6.43% p.a. | $2,883 Principal & Interest | Max LVR 80% Split Loan | |
Westpac Flexi First Option Home Loan Special | 5.69% p.a. variable | 5.70% p.a. | $2,899 Principal & Interest | Max LVR 70% Redraw Split Loan | |
Westpac Premier Advantage Rocket Repay Home Loan Fixed | 5.69% p.a. fixed 3 years | 6.03% p.a. | $2,899 Principal & Interest | Max LVR 70% Redraw Split Loan | |
Westpac Rocket Repay Home Loan Fixed | 5.69% p.a. fixed 1 year | 7.86% p.a. | $2,899 Principal & Interest | Max LVR 70% Redraw Split Loan | |
 NAB Tailored Home Loan Fixed | 5.74% p.a. fixed 1 year | 6.32% p.a. | $2,915 Principal & Interest | Max LVR 60% Split Loan | |
NAB Tailored Home Loan Fixed Choice Package | 5.74% p.a. fixed 1 year | 7.59% p.a. | $2,915 Principal & Interest | Max LVR 90% Split Loan | |
NAB Tailored Home Loan Fixed | 5.79% p.a. fixed 2 years | 6.28% p.a. | $2,931 Principal & Interest | Max LVR 60% Split Loan | |
NAB Tailored Home Loan Fixed Choice Package | 5.79% p.a. fixed 2 years | 7.44% p.a. | $2,931 Principal & Interest | Max LVR 90% Split Loan | |
CommBank Fixed Home Loan MAV Package | 5.79% p.a. fixed 2 years | 7.59% p.a. | $2,931 Principal & Interest | Max LVR 95% Split Loan | |
Westpac Rocket Repay Home Loan Fixed | 5.79% p.a. fixed 2 years | 7.65% p.a. | $2,931 Principal & Interest | Max LVR 70% Redraw Split Loan | |
CommBank Simple Home Loan | 5.84% p.a. variable | 6.09% p.a. | $2,947 Principal & Interest | Max LVR 60% Offset Redraw | |
CommBank Standard Variable MAV Package | 5.84% p.a. variable | 6.22% p.a. | $2,947 Principal & Interest | Max LVR 60% Offset Redraw | |
NAB Tailored Home Loan Fixed | 5.84% p.a. fixed 3 years | 6.25% p.a. | $2,947 Principal & Interest | Max LVR 60% Split Loan |
Compare some of the lowest variable rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | Westpac Flexi First Option Home Loan (Refinance) |
|---|---|
Interest rate from | 5.24% p.a. |
Comparison rate^ | 5.25% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | CommBank Digi Home Loan |
Interest rate from | 5.34% p.a. |
Comparison rate^ | 5.47% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | ANZ Plus Variable Home Loan |
Interest rate from | 5.50% p.a. |
Comparison rate^ | 5.51% p.a. |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | CommBank Simple Home Loan |
Interest rate from | 5.59% p.a. |
Comparison rate^ | 5.85% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | CommBank Standard Variable Rate Home Loan (with Wealth Package) |
Interest rate from | 5.59% p.a. |
Comparison rate^ | 5.98% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | ANZ Simplicity PLUS Home Loan |
Interest rate from | 5.64% p.a. |
Comparison rate^ | 5.65% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | Westpac Rocket Repay Home Loan (Variable With Offset) |
Interest rate from | 5.64% p.a. |
Comparison rate^ | 6.02% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | NAB Basic Variable Rate Home Loan |
Interest rate from | 5.69% p.a. |
Comparison rate^ | 5.73% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
Big 4 bank and product | NAB Tailored Variable with Offset |
Interest rate from | 6.04% p.a. |
Comparison rate^ | 6.13% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | ANZ Standard Variable Home Loan with Offset |
Interest rate from | 6.49% p.a. |
Comparison rate^ | 6.49% p.a. |
Maximum loan-to-value ratio (LVR) | <80% |
| Big 4 bank and product | Interest rate from | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
Westpac Flexi First Option Home Loan (Refinance) | 5.24% p.a. | 5.25% p.a. | 70% |
CommBank Digi Home Loan | 5.34% p.a. | 5.47% p.a. | 60% |
ANZ Plus Variable Home Loan | 5.50% p.a. | 5.51% p.a. | 80% |
CommBank Simple Home Loan | 5.59% p.a. | 5.85% p.a. | 60% |
CommBank Standard Variable Rate Home Loan (with Wealth Package) | 5.59% p.a. | 5.98% p.a. | 60% |
ANZ Simplicity PLUS Home Loan | 5.64% p.a. | 5.65% p.a. | 60% |
Westpac Rocket Repay Home Loan (Variable With Offset) | 5.64% p.a. | 6.02% p.a. | 70% |
NAB Basic Variable Rate Home Loan | 5.69% p.a. | 5.73% p.a. | 95% |
NAB Tailored Variable with Offset | 6.04% p.a. | 6.13% p.a. | 70% |
ANZ Standard Variable Home Loan with Offset | 6.49% p.a. | 6.49% p.a. | <80% |
Compare some of the lowest 1-year fixed rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | Westpac Fixed Rate Home Loan with Package |
|---|---|
Interest rate | 5.49% p.a. |
Comparison rate^ | 6.00% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | ANZ Fixed Rate Home Loan |
Interest rate | 5.49% p.a. |
Comparison rate^ | 6.39% p.a. |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | NAB Tailored Fixed Rate |
Interest rate | 5.74% p.a. |
Comparison rate^ | 6.10% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | CommBank Fixed Rate Home Loan with Wealth Package |
Interest rate | 5.94% p.a. |
Comparison rate^ | 7.56% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
| Big 4 bank and product | Interest rate | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
Westpac Fixed Rate Home Loan with Package | 5.49% p.a. | 6.00% p.a. | 70% |
ANZ Fixed Rate Home Loan | 5.49% p.a. | 6.39% p.a. | 80% |
NAB Tailored Fixed Rate | 5.74% p.a. | 6.10% p.a. | 60% |
CommBank Fixed Rate Home Loan with Wealth Package | 5.94% p.a. | 7.56% p.a. | 95% |
Compare some of the lowest 2-year fixed rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | NAB Tailored Fixed Rate |
|---|---|
Interest rate | 5.79% p.a. |
Comparison rate^ | 6.08% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | ANZ Fixed Rate Home Loan |
Interest rate | 5.44% p.a. |
Comparison rate^ | 6.29% p.a |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | Westpac Fixed Rate Home Loan with Package |
Interest rate | 5.59% p.a. |
Comparison rate^ | 6.01% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | CommBank Fixed Rate Home Loan with Wealth Package |
Interest rate | 5.79% p.a. |
Comparison rate^ | 7.40% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
| Big 4 bank and product | Interest rate | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
NAB Tailored Fixed Rate | 5.79% p.a. | 6.08% p.a. | 60% |
ANZ Fixed Rate Home Loan | 5.44% p.a. | 6.29% p.a | 80% |
Westpac Fixed Rate Home Loan with Package | 5.59% p.a. | 6.01% p.a. | 70% |
CommBank Fixed Rate Home Loan with Wealth Package | 5.79% p.a. | 7.40% p.a. | 95% |
Compare some of the lowest 3-year fixed rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | ANZ Fixed Rate Home Loan |
|---|---|
Interest rate | 5.64% p.a. |
Comparison rate^ | 6.25% p.a. |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | Westpac Fixed Rate Home Loan with Package |
Interest rate | 5.69% p.a. |
Comparison rate^ | 6.03% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | NAB Tailored Fixed Rate |
Interest rate | 5.84% p.a. |
Comparison rate^ | 6.07% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | CommBank Fixed Rate Home Loan with Wealth Package |
Interest rate | 6.04% p.a. |
Comparison rate^ | 7.33% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
| Big 4 bank and product | Interest rate | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
ANZ Fixed Rate Home Loan | 5.64% p.a. | 6.25% p.a. | 80% |
Westpac Fixed Rate Home Loan with Package | 5.69% p.a. | 6.03% p.a. | 70% |
NAB Tailored Fixed Rate | 5.84% p.a. | 6.07% p.a. | 70% |
CommBank Fixed Rate Home Loan with Wealth Package | 6.04% p.a. | 7.33% p.a. | 95% |
Compare some of the lowest 4-year fixed rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | Westpac Fixed Rate Home Loan with Package |
|---|---|
Interest rate | 5.89% p.a. |
Comparison rate^ | 6.11% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | ANZ Fixed Rate Home Loan |
Interest rate | 5.89% p.a. |
Comparison rate^ | 6.28% p.a. |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | NAB Tailored Fixed Rate |
Interest rate | 5.99% p.a. |
Comparison rate^ | 6.11% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | CommBank Fixed Rate Home Loan with Wealth Package |
Interest rate | 6.09% p.a. |
Comparison rate^ | 7.25% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
| Big 4 bank and product | Interest rate | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
Westpac Fixed Rate Home Loan with Package | 5.89% p.a. | 6.11% p.a. | 70% |
ANZ Fixed Rate Home Loan | 5.89% p.a. | 6.28% p.a. | 80% |
NAB Tailored Fixed Rate | 5.99% p.a. | 6.11% p.a. | 70% |
CommBank Fixed Rate Home Loan with Wealth Package | 6.09% p.a. | 7.25% p.a. | 95% |
Compare some of the lowest 5-year fixed rate owner-occupier home loans (with principal & interest repayments) from Australia’s big four banks: ANZ, Commbank, NAB and Westpac. This table is sorted by the lowest interest rate, then the lowest comparison rate.
Big 4 bank and product | Westpac Fixed Rate Home Loan with Package |
|---|---|
Interest rate | 5.89% p.a. |
Comparison rate^ | 6.13% p.a. |
Maximum loan-to-value ratio (LVR) | 70% |
Big 4 bank and product | ANZ Fixed Rate Home Loan |
Interest rate | 5.89% p.a. |
Comparison rate^ | 6.23% p.a. |
Maximum loan-to-value ratio (LVR) | 80% |
Big 4 bank and product | NAB Tailored Fixed Rate |
Interest rate | 6.09% p.a. |
Comparison rate^ | 6.15% p.a. |
Maximum loan-to-value ratio (LVR) | 60% |
Big 4 bank and product | CommBank Fixed Rate Home Loan with Wealth Package |
Interest rate | 6.24% p.a. |
Comparison rate^ | 7.22% p.a. |
Maximum loan-to-value ratio (LVR) | 95% |
| Big 4 bank and product | Interest rate | Comparison rate^ | Maximum loan-to-value ratio (LVR) |
|---|---|---|---|
Westpac Fixed Rate Home Loan with Package | 5.89% p.a. | 6.13% p.a. | 70% |
ANZ Fixed Rate Home Loan | 5.89% p.a. | 6.23% p.a. | 80% |
NAB Tailored Fixed Rate | 6.09% p.a. | 6.15% p.a. | 60% |
CommBank Fixed Rate Home Loan with Wealth Package | 6.24% p.a. | 7.22% p.a. | 95% |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| in1bank in1home | 5.08% | 5.13% | 50% |
| Gateway Bank Green Plus Home Loan | 5.10% | 5.40% | 80% |
| Pacific Mortgage Group Owner Occupied Variable Home Loan | 5.14% | 5.14% | 80% |
| RACQ Bank Fair Dinkum Home Loan | 5.14% | 5.15% | 60% |
| RACQ Bank Fair Dinkum Home Loan | 5.14% | 5.15% | 60% |
| Bank of Sydney BOS Basic Home Loan | 5.14% | 5.18% | 60% |
| Bank of Sydney BOS Basic Home Loan | 5.14% | 5.18% | 50% |
| Australian Mutual Bank GumLeaf Basic Variable Rate Owner Occupied | 5.14% | 5.21% | 60% |
| The Mac Credit Union Discounted Basic Variable Home Loan | 5.17% | 6.83% | 80% |
| Bank of China Discount Home Loan - Australian Income | 5.18% | 5.38% | 80% |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| The Mac Credit Union Fixed Home Loan | 5.09% | 7.02% | 80% |
| Move Bank Everyday Fixed Home Loan | 5.14% | 5.28% | 95% |
| Horizon Bank Fixed Rate Home Loan | 5.14% | 5.97% | 70% |
| Pacific Mortgage Group Fixed Home Loan | 5.19% | 5.28% | 80% |
| Easy Street Fixed Home Loan | 5.19% | 5.37% | 95% |
| South West Slopes Bank Optimum 1 Year Fixed Rate Home Loan | 5.20% | 5.78% | 90% |
| Bank of us FlexiDiscount Fixed Home Loan | 5.29% | 5.30% | 60% |
| Border Bank Customs Value | 5.29% | 5.36% | 60% |
| Border Bank Customs Value | 5.29% | 5.41% | 90% |
| Horizon Bank Fixed Rate Home Loan | 5.29% | 6.12% | - |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| Move Bank Everyday Fixed Home Loan | 4.99% | 5.24% | 95% |
| Easy Street Fixed Home Loan | 5.09% | 5.34% | 95% |
| Horizon Bank Fixed Rate Home Loan | 5.14% | 5.89% | 70% |
| BankVic Home Buyer or Upgrade Fixed Rate | 5.18% | 5.36% | 80% |
| Bank of us FlexiDiscount Fixed Home Loan | 5.19% | 5.28% | 60% |
| Pacific Mortgage Group Fixed Home Loan | 5.19% | 5.28% | 80% |
| Border Bank Customs Value | 5.19% | 5.34% | 60% |
| Border Bank Customs Value | 5.19% | 5.38% | 90% |
| Move Bank Offset Fixed Home Loan | 5.19% | 5.44% | 95% |
| The Mac Credit Union Fixed Home Loan | 5.19% | 6.84% | 80% |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| Move Bank Everyday Fixed Home Loan | 5.04% | 5.23% | 95% |
| Horizon Bank Fixed Rate Home Loan | 5.14% | 5.96% | 70% |
| BankVic Home Buyer or Upgrade Fixed Rate | 5.18% | 5.35% | 80% |
| Border Bank Customs Value | 5.24% | 5.35% | 60% |
| Border Bank Customs Value | 5.24% | 5.38% | 90% |
| Move Bank Offset Fixed Home Loan | 5.24% | 5.43% | 95% |
| QBANK Fixed Rate | 5.24% | 6.76% | 95% |
| Bank of us FlexiDiscount Fixed Home Loan | 5.29% | 5.30% | 60% |
| Border Bank Goldrate Home Loan Owner Occupied PI | 5.29% | 5.40% | 60% |
| Border Bank Goldrate Home Loan Owner Occupied PI | 5.29% | 5.43% | 80% |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| Greater Bank Ultimate Home Loan | 5.49% | 6.75% | 95% |
| Greater Bank Great Rate Home Loan | 5.54% | 6.55% | 95% |
| Bank of us FlexiDiscount Fixed Home Loan | 5.69% | 5.44% | 60% |
| Hume Bank myBlue Fixed | 5.69% | 5.46% | 60% |
| BCU Bank Fixed Rate Home Loan | 5.69% | 5.58% | 80% |
| P&N Bank Fixed Rate Home Loan | 5.69% | 5.62% | 80% |
| QBANK Fixed Rate | 5.69% | 6.75% | 95% |
| G&C Mutual Bank Fixed Rate Home Loan – Owner Occupied | 5.70% | 5.78% | 95% |
| HSBC Fixed Rate Home Loan (With Package) | 5.79% | 5.96% | 60% |
| Newcastle Permanent Building Society Premium Plus Package Fixed Rate | 5.79% | 6.92% | 80% |
| Loan | Interest rate | Comparison rate^ | Max LVR |
|---|---|---|---|
| Move Bank Everyday Fixed Home Loan | 5.29% | 5.31% | 95% |
| Move Bank Offset Fixed Home Loan | 5.49% | 5.51% | 95% |
| Greater Bank Ultimate Home Loan | 5.49% | 6.64% | 95% |
| Greater Bank Great Rate Home Loan | 5.54% | 6.43% | 95% |
| Horizon Bank Fixed Rate Home Loan | 5.64% | 5.90% | 70% |
| Bank of us FlexiDiscount Fixed Home Loan | 5.69% | 5.48% | 60% |
| BCU Bank Fixed Rate Home Loan | 5.69% | 5.60% | 80% |
| P&N Bank Fixed Rate Home Loan | 5.69% | 5.63% | 80% |
| Border Bank Customs Value | 5.74% | 5.56% | 60% |
| QBANK Fixed Rate | 5.74% | 6.65% | 95% |
Based on Money.com.au’s analysis of a wide range of current mortgage rates, smaller lenders tend to have lower interest rates than the big four banks. However, it will depend on your loan type and loan-to-value ratio (LVR). Lower LVRs typically mean lower rates and higher LVRs mean higher rates.
The rates shown below are for owner occupiers making principal and interest repayments.
| Lowest rate from big four | Lowest rate other lenders | |
|---|---|---|
Variable | 5.24% p.a. (5.25% p.a. comparison rate) max LVR 70% | 4.99% p.a. (4.99% p.a. comparison rate) max LVR 70% |
1-year fixed | 5.49% p.a. (6.00% p.a. comparison rate) max LVR 70% | 4.99% p.a. (5.04% p.a. comparison rate) max LVR 80% |
2-year fixed | 5.44% p.a. (6.29% p.a. comparison rate) max LVR 80% | 4.98% p.a. (5.22% p.a. comparison rate) max LVR 70% |
3-year fixed | 5.64% p.a. (6.25% p.a. comparison rate) max LVR 80% | 4.98% p.a. (5.28% p.a. comparison rate) max LVR 95% |
4-year fixed | 5.89% p.a. (6.11% p.a. comparison rate) max LVR 70% | 5.29% p.a. (5.32% p.a. comparison rate) max LVR 60% |
5-year fixed | 5.89% p.a. (6.13% p.a. comparison rate) max LVR 70% | 5.39% p.a. (5.36% p.a. comparison rate) max LVR 95% |
Mansour Soltani, Money.com.au's Home Loans Expert
“Smaller lenders typically operate with lower overhead costs and tend to offer lower rates to compete for market share against the big four banks. So, if you’re a borrower chasing the lowest rate possible, we’d maybe suggest going with a smaller lender. On the flip side, if your LVR is sub 60-70%, you’d probably get a good rate from one of the big four. There may be cases where one of the big four don’t have the best rates, but have policy tweaks suitable to your borrower scenario. For example, ANZ will accept one year of financials for business owners, while most other lenders require two years’ worth. NAB doesn't ask for a detailed breakdown of expenses if you withdraw over $100,000 in equity, unlike some other banks.”
Mansour Soltani, Money.com.au's Home Loans Expert
About Commonwealth Bank
The Commonwealth Bank of Australia (CBA) has the largest home loan book among the big four banks. It was founded under the Commonwealth Bank Act in 1911 and today serves about 15.9 million customers across its Australian and international branches, according to its website. CBA has several subsidiaries, including Bankwest and digital home loan lender Unloan.
Source: APRA’s monthly ADI statistics, December 2025.
About Westpac
Westpac is the second largest home lender in Australia by home lending market share. It was founded in 1817 as the Bank of New South Wales and later became the Westpac Banking Corporation in 1982. This makes Westpac the first bank established in Australia and the oldest of the big four banks. Westpac and its subsidiaries (St.George, Bank of Melbourne, BankSA and RAMS) serve about 12.7 million customers, according to its website.
Westpac also sponsors the Westpac Lifesaver Rescue Helicopter Service (WLRHS).
About NAB
National Australia Bank (NAB) is Australia's third biggest home loan lender. It was established 1981 after a merger between the National Bank of Australasia and the Commercial Banking Company of Sydney. NAB serves about 8.5 million customers worldwide, according to its website. It also owns digital bank UBank.
About ANZ
The Australia and New Zealand Banking Group (ANZ) is the smallest of the big four banks, based on its home loan book size. ANZ was formed in 1951 following a merger of the Bank of Australasia and the Union Bank of Australia. ANZ serves about 8.5 million customers, according to its website.
ANZ was the first bank to introduce contactless payments in Australia with Apple Pay.
According to the latest Roy Morgan banking customer satisfaction ratings, Westpac has the highest home loan customer satisfaction among the big four banks, with a rating of 73.6%. The average customer satisfaction for home loans among the big four banks as a collective is 71.8%.
CommBank and NAB came second with a 73.5% satisfaction score, followed by ANZ at 66.7%. Customer satisfaction is measured on a scale of ‘very satisfied’, ‘fairly satisfied’, ‘neither satisfied nor dissatisfied’, ‘fairly dissatisfied’ and ‘very dissatisfied’.
The big four banks are generally no more or less safe than smaller lenders. The Australian Prudential Regulation Authority (APRA) and the Australian Securities & Investments Commission (ASIC) regulate all registered financial institutions, regardless of their size.
Additionally, any bank that accepts deposits from the public – known as authorised deposit-taking institutions (ADIs) – is covered under the Financial Claims Scheme (FCS). Under this scheme, if a lender was to collapse, the government would guarantee up to $250,000 of your money (per account holder, per institution).
Some smaller lenders are in fact divisions or subsidiaries of one of the big four. For example, UBank is backed by NAB, while St.George, Bank of Melbourne, BankSA and RAMS are under the umbrella of the Westpac Group.
Mansour Soltani, Money.com.au's Home Loans Expert
“There’s definitely a misconception that going with a smaller lender is risky because they may go bust. No banks have gone bust in Australia. In the unlikely event of a lender collapse, a larger bank would likely acquire its customer and loan portfolio and your mortgage would get sold to that larger bank.”
Mansour Soltani, Money.com.au's Home Loans Expert
 | Move Bank Everyday Fixed Home LoanInterest rate 4.99% per annum (fixed 2 years) Comparison rate 5.24% per annum Redraw App Fee: $600 Max LVR 95% | Compare now on Money.com.au or visit site |
| Move Bank Everyday Fixed Home LoanInterest rate 5.04% per annum (fixed 3 years) Comparison rate 5.23% per annum Redraw App Fee: $600 Max LVR 95% | Compare now on Money.com.au or visit site |
 | Easy Street Fixed Home LoanInterest rate 5.09% per annum (fixed 2 years) Comparison rate 5.34% per annum Redraw Offset App Fee: $500 Max LVR 95% | Compare now on Money.com.au or visit site |
 | The Mac Credit Union Fixed Home LoanInterest rate 5.09% per annum (fixed 1 year) Comparison rate 7.02% per annum Redraw App Fee: $400 Max LVR 80% | Compare now on Money.com.au or visit site |
 | Gateway Bank Green Plus Home LoanInterest rate 5.10% per annum (variable) Comparison rate 5.40% per annum Redraw Offset Max LVR 80% | Compare now on Money.com.au or visit site |
The big four banks are ANZ, Commonwealth Bank, NAB, and Westpac. They’re referred to as the ‘big four’ because they’re the four largest banks by market share. They collectively hold about 80% of all residential home loans in Australia, according to Statista.
Besides the sheer number of customers on their books and their perceived stability in the market, what sets the big four banks apart from other lenders is that they must abide by the 'four pillars’ policy. This policy essentially bans any acquisition or merger between the big four banks. It’s aimed at maintaining the separation of the four largest banks and to create a competitive banking market.
The big four banks generally offer a wide range of home loan products suited to different types of borrowers and financial situations, including (but not limited to):
If you’re looking to explore your options beyond the big four, there are plenty of alternatives worth considering, such as:
The big four banks – CommBank, NAB, Westpac and ANZ – dominate the Australian market due to their size, nationwide presence and diversified services. They're considered more stable than smaller banks, but may not always offer the most competitive rates or personalised service.
No, the big four banks are all publicly listed companies on the Australian Securities Exchange (ASX). While they were once government-owned or supported, they are now fully privatised and operate as independent, profit-driven corporations.
Not always. While their rates may be similar, each bank sets its own interest rates based on internal policies, market conditions and strategic goals. It's worth comparing them individually before choosing a home loan product.
Yes. Like all authorised deposit-taking institutions (ADIs), the big four banks are covered by the Australian Government’s Financial Claims Scheme, which guarantees deposits up to $250,000 per account holder, per institution.
Yes, switching banks is relatively straightforward. Many smaller banks and online lenders offer tools to help you transfer accounts and direct debits. Just be sure to check for any break fees especially if you're switching loans (refinancing with a mortgage broker can help).
Yes. The big four often own or have previously owned smaller banks or subsidiaries. For example, Westpac owns St.George and BankSA, while NAB owns UBank and CommBank owns Bankwest. These brands may offer different pricing or features despite being part of a larger group.
Many big four banks have invested heavily in mobile and online platforms, offering advanced features like budgeting tools, instant payments and fraud detection. However, some smaller or digital-only banks now rival them with slicker, more user-friendly apps.
Megan Birot is a Finance Writer and Head of PR at Money with over a decade of industry experience. She keeps her finger on the pulse of financial trends, providing journalists and media with data, insights, and news that help Australians navigate complex topics and concepts. She's certified in Finance & Mortgage Broking and is compliant to provide general advice in Tier 1 General Insurance.
Sean Callery is the Editor of Money.com.au. He has over 15 years of international experience. He is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821) and is compliant to provide general advice in Tier 1 General Insurance (RG 146) products.
Home loan comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. The comparison rates only apply to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you.
General information only
The information on this page is general in nature and has been prepared without considering your objectives, financial situation or needs. You should consider whether the information provided and the nature of any home loan product is suitable for you and seek independent financial advice if necessary.
We are not providing you with a recommendation or suggestion about a particular home loan. You should read the relevant disclosure statements or other offer documents before deciding whether to apply for or continue to use a particular product.
What products, features and information are shown
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Our product comparisons may not compare all home loan features and attributes relevant to you.
Product information, such as interest rates, fees and charges, is subject to change without notice. Before acting on any information, you should confirm the relevant product information with the lender.
How home loans are sorted and filtered by default
Users can easily change the sort order and apply product filters to our product comparison tables. However, when results load initially in the main comparison table on this page, we show relevant loans from our sponsored partners first, then all loans on our database, sorted as follows:
Some home loan products listed in our tables are available through a mortgage broker. Mortgage brokers may not be able to offer loans from every provider and there may be more suitable loans for your personal circumstances.
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