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Lowest interest-only home loan rates

Ranked for a $600,000 loan on an $800,000 property (75% LVR). Change any input and the list re-ranks for you.

MoveBank is cheapest at 6.19%: $3,095 a month.

144 offers from 53 lenders match, cheapest cost over 5 years (repayments plus fees) first.

  1. 1
    MoveBankEveryday Home LoanConditions apply
    6.19%comparison not published*
    $3,095a month
    5 years cost $185,700
    Details
    • Condition: Rate applicable for LVR up to 80%. Higher rates applicable for higher LVR loans; Rate does not requires salary to be credited into a linked MOVE Bank everyday transaction account.
    • Fees counted: none published
  2. 2
    Southern Cross Credit UnionBROKER HOME LOAN
    6.13%comparison 6.37%*
    $3,065a month
    5 years cost $185,875
    Details
    • Lender’s note: Interest Only options available up to 5yrs at a time. Rate reverts to variable PI rate of applicable LVR tier upon expiry.
    • Also sold as: EMONEY HOME LOAN, LJH 5STAR HOME LOAN, PREMIUM HOME LOAN
    • Fees counted: $395 a year
  3. 3
    Bank of usFlexidiscount Home Loan
    6.19%comparison 6.19%*
    $3,095a month
    5 years cost $186,650
    Lender site ↗
    Details
    • Fees counted: $950 upfront
  4. 4
    Greater BankDiscounted Great Rate Home Loan - Variable Interest Only Owner Occupied
    6.19%comparison 6.14%*
    $3,095a month
    5 years cost $186,930
    Details
    • Lender’s note: Discounted rates include a discount on Home Loans of $150,000 or over and for owner occupied Home Loans with an LVR 80% or below and for investment Home Loan with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.
    • Fees counted: $1,230 upfront
  5. 5
    MoveBankOffset Home LoanConditions apply
    6.29%comparison not published*
    $3,145a month
    5 years cost $188,700
    Details
    • Condition: Rate applicable for LVR up to 80%. Higher rates applicable for higher LVR loans
    • Fees counted: none published
  6. 6
    Queensland Country BankHome Loan-Package
    6.24%comparison 6.25%*
    $3,120a month
    5 years cost $189,225
    Details
    • Fees counted: $50 upfront, $395 a year
  7. 7
    Gateway BankAllium Money Essentials IO
    6.34%comparison 6.34%*
    $3,170a month
    5 years cost $190,299
    Details
    • Lender’s note: Allium Money Essentials IO - <= 80% LVR
    • Fees counted: $99 upfront
  8. 8
    MoveBankEveryday Home LoanConditions apply
    6.39%comparison not published*
    $3,195a month
    5 years cost $191,700
    Details
    • Condition: Rate requires salary to be credited into a linked MOVE Bank everyday transaction account.
    • Fees counted: none published
    • The lender publishes several rates for this loan without saying which applies when; we show the highest.
  9. 9
    Credit Union SAXL Interest Only Home Loan Package
    6.34%comparison 6.70%*
    $3,170a month
    5 years cost $192,925
    Lender site ↗
    Details
    • Also sold as: Interest Only 40 Year Home Loan Package
    • Fees counted: $750 upfront, $395 a year
  10. 10
    First Option BankSIMPLE HOME LOAN
    6.39%comparison 6.39%*
    $3,195a month
    5 years cost $192,950
    Lender site ↗
    Details
    • Fees counted: $1,250 upfront

* Comparison rates are calculated on a secured loan of $150,000 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.

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Rates are checked every few hours from each lender’s published Consumer Data Right product data; last checked 2 Nov, 12:05 am AEDT. This is general information, not credit or financial advice, and doesn’t consider your circumstances. Confirm rates, fees and eligibility with the lender before you apply. We don’t take payment from lenders, and the order of results never depends on who pays. How this works.