NAB leads home loan interest rate cuts
NAB became the first big four bank to slash home loan interest rates in 2024 amid a big we...
26 Jul, 2024
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4.84% p.a. | 5.65% p.a. | $2,635 | Principal & Interest | Fixed | $0 | $1,000 | 70% | |||||||||||||
4.84% p.a. | 5.58% p.a. | $2,635 | Principal & Interest | Fixed | $0 | $1,000 | 70% | |||||||||||||
4.94% p.a. | 5.74% p.a. | $2,666 | Principal & Interest | Fixed | $0 | $1,000 | 70% | |||||||||||||
4.99% p.a. | 4.99% p.a. | $2,681 | Principal & Interest | Variable | $0 | $0 | 70% | |||||||||||||
4.99% p.a. | 5.80% p.a. | $2,681 | Principal & Interest | Fixed | $0 | $1,000 | 95% | |||||||||||||
4.99% p.a. | 5.72% p.a. | $2,681 | Principal & Interest | Fixed | $0 | $1,000 | 95% | |||||||||||||
5.09% p.a. | 5.89% p.a. | $2,712 | Principal & Interest | Fixed | $0 | $1,000 | 95% | |||||||||||||
5.09% p.a. | 5.90% p.a. | $2,712 | Principal & Interest | Fixed | $0 | $1,000 | 70% |
Important Information and Comparison Rate Warning
What you need to know about Horizon Bank home loans
Horizon Bank is a customer-owned lender that began in 1964 as a local credit union and now operates ten branches stretching from Thirroul to Merimbula on the NSW South Coast. As a mutual bank, it reinvests its profits to offer sharper rates, lower fees and community programs.
You might find Horizon Bank a good fit if you:
- Value a mutual with face-to-face service
All ten branches sit within the Illawarra-Far South Coast region, backed by online banking, a refreshed mobile app and phone support. - Want flexibility on a variable loan
The bank's core mortgages come with redraw facilities and an optional offset account (currently an extra $150 p.a.). - Want a competitive first home buyer loan
At the time of writing, the bank offers competitive interest rates to borrowers purchasing their first home, whether as an owner-occupier or investor. - Need a guarantor pathway to dodge LMI
Horizon Bank allows parents (or other close relatives) to use their home equity as extra security so first home buyers can borrow up to 100% of the purchase price and avoid lenders mortgage insurance (LMI). - Want access to funds as you need them
The bank's Handyloan Secured Line of Credit lets eligible homeowners draw against equity, paying interest only on what's in use. - Are happy to bank mostly online but still like a local safety net
Internet banking and the Horizon app handle everyday needs, while local borrowers still drop into a branch when needed. - Care about a lender that gives back locally
Horizon runs a Community Grants Program, sponsorships and donations that target clubs and events across the South Coast region, reinforcing its 'locals supporting locals' ethos.
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