Budget Home Loan

If you're looking for a low cost home loan, our award-winning Budget Home Loan is for you.

Enjoy a low, variable interest rate for your owner occupied or investment property with no application fee and no monthly service fee.

We win the awards so you can enjoy the rewards. Enquire online and our lending team will be in touch.

Mozo and RateCity Award

Product Interest Rate Comparison Rate
Special Variable Rate LVR ≤80% 5.89% p.a.   5.89% p.a.  
Variable Rate 7.08% p.a.   7.08% p.a.  


Product Interest Rate Comparison Rate
Special Variable Rate LVR ≤80% 6.09% p.a.   6.09% p.a.  
Variable Rate 7.48% p.a. 7.48% p.a.

Product Features:

Home Loans
Interest : Calculated daily, charged monthly
Minimum Amount : $100,000
Loan Term : Up to 30 years
Repayments : Weekly, fortnightly or monthly
Additional Repayments : Yes
Annual Fee : $0
Application Fee : No
100% Offset Account : No
Principal and Interest Loan : Yes
Interest Only Loan : No
Variable Interest Rate Option : Yes
1, 2 & 3 Year Fixed Rate Options : No
100% Offset Monthly Fee : N/A
Mutual Visa Credit Card Annual Fee : $49
Mutual Visa Credit Card Discounts : N/A
Switching Fee : $300
Rollover Fee : $200
Personal/Car Loans : $200
Redraw Facility : Yes, minimum redraw is $1,000
Valuation Fee : $250 per new loan application

Things to note...

View Rates and Fees

View product Target Market Determinations

View home loan Key Fact Sheets

Protect your home with CGU Home and Contents Insurance

Home loan calculators

Want to explore the numbers? Estimate your loan repayments, borrowing power and more with our range of helpful calculators.

Important Information

The Mozo Experts Choice Low Cost Home Loan award and Rate City Best Refinance Home Loan award were awarded to The Mutual Bank’s Budget Home Loan Special Variable Rate for new, owner-occupied loans with ≤80% LVR and Principal and Interest repayments.