Australian Home Loan Rates — Monthly Comparison
Arrivau 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 May 2026 (owner-occupier, principal & interest, 80% LVR). The lowest value in each column is bolded, and rows marked ✻ offer a cash-back this month.
| Lender | Variable Variable | 2Y Fixed 2Y Fixed | 3Y Fixed 3Y Fixed | 5Y Fixed 5Y Fixed | Cash-back Cash-back |
|---|---|---|---|---|---|
| AMP Bank | 6.04 | 6.89 | 6.99 | 7.29 | — |
| ANZ ✻ | 6.29 | 6.39 | 6.54 | 6.59 | $3,000 |
| Auswide Bank | 5.84 | 6.39 | 6.44 | 6.89 | — |
| Bank of China ✻ | 5.68 | 6.09 | 6.39 | 6.39 | Special† |
| Bank of Melbourne | 6.14 | 6.39 | 6.59 | 6.79 | — |
| Bank of Sydney | 5.94 | 6.99 | 6.99 | — | — |
| Bank Australia | 5.89 | 6.29 | 6.39 | 6.49 | — |
| BankSA | 6.14 | 6.39 | 6.59 | 6.79 | — |
| Bankwest | 5.99 | 6.59 | 6.69 | 6.79 | — |
| Bendigo Bank | 5.88 | 6.39 | 6.39 | 6.44 | — |
| BOQ | 5.88 | 6.19 | 6.29 | 6.59 | — |
| Commonwealth Bank (CBA) | 6.24 | 6.34 | 6.59 | 6.79 | — |
| Firstmac | 6.29 | 6.89 | 6.99 | 7.39 | — |
| Gateway Bank | 5.94 | 7.04 | 6.84 | 7.34 | — |
| Great Southern Bank | 6.09 | 6.40 | 6.45 | 6.50 | — |
| Heritage Bank | 5.84 | 6.34 | 6.39 | 6.54 | — |
| HSBC | 5.84 | 6.14 | 6.19 | 6.39 | — |
| ING | 5.89 | 6.19 | 6.24 | 6.34 | — |
| Macquarie Bank | 5.89 | 6.59 | 6.64 | 6.79 | — |
| ME Bank | 5.88 | 6.29 | 6.44 | 6.74 | — |
| MyState Bank | 5.84 | 6.39 | 6.44 | 6.89 | — |
| NAB | 6.74 | 6.39 | 6.49 | 6.49 | — |
| Newcastle Permanent | 5.74 | 6.04 | 6.09 | 6.24 | — |
| Police & Nurses (P&N) | 5.94 | 6.54 | 6.69 | 6.79 | — |
| Qudos Bank | 5.89 | 6.29 | 6.39 | 6.49 | — |
| St. George | 6.14 | 6.39 | 6.59 | 6.79 | — |
| Suncorp Bank | 5.88 | 6.14 | 6.24 | 6.34 | — |
| Teachers Mutual | 6.04 | 6.44 | 6.54 | 6.74 | — |
| ubank | 5.89 | 6.54 | 6.59 | 6.74 | — |
| Virgin Money ✻ | 5.59 | 6.24 | 6.39 | 6.69 | $4,000 |
| Westpac | 6.24 | 6.39 | 6.59 | 6.79 | — |
† Bank of China Discount Plus Home Loans — specific margin is subject to broker-negotiated banker discretion and may vary.
ANZ $3,000 cash-back is for refinance customers only, conditions apply, ask your broker for details. Virgin Money $4,000 cash-back applies to new loans only, LVR < 80%, minimum loan amount $300k.
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 sweeps 2Y / 3Y / 5Y (6.04% / 6.09% / 6.24%). Among major banks, Suncorp and ING at 6.34% for the 5-year term are competitively priced. On cash-back, Virgin Money $4,000 and ANZ $3,000 are this month's leaders. Bank of China also offers Discount Plus special pricing (margin subject to broker negotiation). Your actual approved rate will vary based on LVR, loan size, income structure and repayment type and the bank's current promotions — broker-negotiated pricing is typically 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, Arrivau compares real approval pricing from 30+ lenders so you can pick the rate + feature mix that actually fits.
Want to know the rate you’d actually qualify for?
Fill in the 2-minute assessment and we’ll come back within one business day with a 3-lender shortlist tailored to your profile.
Source: Brokerpedia public rate database, last verified by Arrivau on 2026-05-03. 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. Arrivau is a licensed Mortgage Broker, MFAA member, ACL / ASIC compliant.