A fixed rate home loan is a great option if you'd prefer to lock in your repayments, rather than risk variable rates and bank interest rate changes.
Use our home loan comparison calculator below to find the right fixed rate loan for you. It gives you a snapshot of different costs and benefits, interest rates, mortgage repayments and fees. Start comparing home loans now.
Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
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2.19% p.a.
fixed 2 years
3.79% p.a.
Owner Occupiers with Orange Advantage, Principal & Interest
2.19% p.a.
fixed 2 years
3.79% p.a.
Know exactly what your repayments will be, and you can fix your rate for up to 5 years. No monthly, annual or transaction fees and it's free to make extra repayments.
2.14% p.a.
fixed 1 year
3.01% p.a.
Owner Occupier, Principal & Interest
2.14% p.a.
fixed 1 year
3.01% p.a.
Fast, easy apply and no ongoing fees. Choose between weekly, fortnightly or monthly repayments. 1 year fixed rates are for new Owner Occupier Principal & Interest loans. Winner of a Mozo Experts Choice Award 2019 in the Fixed Rate Home Loan category.^
Hot Deal$2,000 Refinance Cash Bonus (T&Cs apply)
2.29% p.a.
fixed 2 years
3.28% p.a.
Owner Occupier, Principal & Interest
2.29% p.a.
fixed 2 years
3.28% p.a.
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
2.09% p.a.
fixed 2 years
2.98% p.a.
Owner Occupier, Principal & Interest, LVR <80%
2.09% p.a.
fixed 2 years
2.98% p.a.
Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^
2.18% p.a.
fixed 2 years
3.72% p.a.
Owner Occupier, Principal & Interest
2.18% p.a.
fixed 2 years
3.72% p.a.
No ongoing fees. Ability to split your loan between fixed and variable. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer, T&Cs apply.
2.09% p.a.
fixed 1 year
3.92% p.a.
Owner Occupier, Principal & Interest, Home Loan Package
2.09% p.a.
fixed 1 year
3.92% p.a.
A People’s Choice 1 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
2.39% p.a.
fixed 3 years
3.08% p.a.
Owner Occupier, Principal & Interest
2.39% p.a.
fixed 3 years
3.08% p.a.
The IMB Fixed Rate Home Loan gives you peace of mind with the security of fixed loan repayments. You can also pay up to 12 months repayments in advance without penalty.
2.29% p.a.
fixed 2 years
3.52% p.a.
Owner Occupier, Principal & Interest, <80% LVR
2.29% p.a.
fixed 2 years
3.52% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $2,500 cashback when you refinance your home loan to BOQ (min. $250k lending, max 70% LVR, T&Cs apply).
2.06% p.a.
fixed 2 years
2.36% p.a.
2.06% p.a.
fixed 2 years
2.36% p.a.
Super low rate fixed home loan. Make weekly, fortnightly or monthly repayments. Up to 80% LVR & Owner Occupier Loans only. Special annual fee offer for applications submitted by 30 September 2020 and settled by 31 December 2020
2.29% p.a.
fixed 3 years
2.82% p.a.
Owner Occupier, Principal & Interest, LVR<80%
2.29% p.a.
fixed 3 years
2.82% p.a.
Competitive fixed rates ranging from 2.29% (2.82% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
2.29% p.a.
fixed 3 years
interest rate
3.89% p.a.
comparison rate*
(Terms & Conditions Apply)
Big four bank deal: Available for loans up to $2,000,000 with a 20% deposit.
2.49% p.a.
fixed 3 years
3.28% p.a.
Owner Occupier, Principal & Interest
2.49% p.a.
fixed 3 years
3.28% p.a.
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
^See information about the Mozo Experts Choice Home loans Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
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Views, news, tips and guides to help find the home loan for you.
To fix or not to fix? That is the question posed by many home buyers across Australia. So to help you decide whether a fixed or variable interest rate is your borrowing match, we've compiled this quick guide that runs through the benefits of a fixed interest rate and the traps to watch out for. You can also use the above table to compare fixed rate home loans quickly and easily.
A fixed home loan rates, as the name suggests, is a home loan that has an interest rate that is set for a fixed period, such as three years. During this period your repayments will be locked in, making it easier to budget and giving you peace of mind that you won't have to factor in any unexpected rate changes that could impact your monthly household budget over the loan term.
Banks will have fixed rate loans available for varying terms (up to 10 years) but the most popular terms for fixed rate home loans are between one and three years. Fixed home loans can have a higher interest rate than variable rate options so if you fix for a longer period of time you could end up paying a lot more if interest rates stay the same or go down over that period. Of course if rates go up the opposite will
be true.
At the end of the fixed period, borrowers will have the option to select another fixed term or switch to a variable rate loan. The revert rate, ie the rate that the home loan will automatically revert to when the fixed period is over, is usually higher than the market rate so if you do choose to fix be prepared to shop around at the end of the term or negotiate with your lender to get a better deal for staying with them.
There was a time when if you took out a fixed home loan rate you had to give up many of the features that come with most variable rate home loans like offset accounts and the ability to make extra repayments. But this is no longer the case for all fixed rate home loans. There are some restrictions though and these should be weighed up before you choose to fix.
Fixed rates can provide Aussie borrowers with a sense of security knowing that their monthly repayment won’t fluctuate. So if you’ve decided that a fixed interest rate home loan is the right pick for you, then you’re going to have to start shopping around. Head on over to our Home Loan Interest Rates page for more information about comparing fixed rate home loans.
As with variable rate home loans there are some common fees that are payable upfront, and some fees payable on an ongoing basis or at loan termination.
These include:
The biggest difference between the fees of a fixed and a variable rate home loan is if you decide to switch loans during the loan period or pay out the loan early. With a fixed rate loan you will be charged a 'break fee' and it can be very high. The break fee would be determined by your lender based on how much you have left of your term and the rate you locked your loan in for so it is very difficult to work out how much this will be in advance. You would need to get your lender to provide you with an estimate for this.
This is where Mozo's handy calculators come in. We can help you compare fixed rate home loans with variable rate loans or compare fixed rate terms to find the best home loan for you.
Here's a rundown of our top tools:
How much could you save by switching home loans?
Home loans switch and save calculatorHow much will my repayments be?
Mortgage repayments calculatorHow will rate changes affect my repayments?
Home loan rate change calculatorWhich home loan will cost me less?
Home loan comparison calculatorHow much will I save with extra repayments?
Home loan extra repayments calculatorHow much can I afford to borrow?
Home loan borrowing calculatorHow much do I have to pay?
Stamp duty calculator
CBA offers some great competitive rates, a really use friendly and great online banking system and app, and offers as many offset accounts as you like.
Read full reviewCBA offers some great competitive rates, a really use friendly and great online banking system and app, and offers as many offset accounts as you like.
Great service, friendly staff, fair interest rates.
Read full reviewGreat service, friendly staff, fair interest rates.
The Bankwest home loan customer service is top notch. I called to fix my interest rate and the bank officer talked me through the process. I had to put additional funds in, so I called him a few months later when I had the funds ready and he helped me in 2 minutes over the phone! They always call back when you leave a message and I think their fixed rate is very competitive. Awesome service so far.
Read full reviewThe Bankwest home loan customer service is top notch. I called to fix my interest rate and the bank officer talked me through the process. I had to put additional funds in, so I called him a few months later when I had the funds ready and he helped me in 2 minutes over the phone! They always call back when you leave a message and I think their fixed rate is very competitive. Awesome service so far.
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