Compare Australian Home Loan Lenders
Detailed profiles of Australia's major banks and non-bank lenders. Understand their products, rates, pros and cons, and who each lender suits best.
Bank vs Non-Bank Lenders: What Is the Difference?
Authorised Deposit-Taking Institutions (ADIs)
Banks, credit unions and building societies are authorised by APRA to take deposits from the public. Your deposits are protected by the Australian Government guarantee up to $250,000 per account holder per institution.
- +Government-backed deposit protection
- +Full suite of banking services (transaction accounts, savings, credit)
- -Rates can be higher than non-bank lenders due to overheads
Non-Bank Lenders
Non-bank lenders fund mortgages through wholesale capital markets and securitisation rather than deposits. They are regulated by ASIC but not APRA, and cannot accept deposits. They often offer sharper rates due to lower overheads.
- +Often sharper rates due to lower cost base
- +Innovative products and faster digital processes
- -Cannot offer deposit accounts or transaction banking
The Big Four Banks
Commonwealth Bank, Westpac, ANZ and NAB collectively hold over 80% of the Australian mortgage market.
Commonwealth Bank
Major BankAustralia's largest home lender with the widest branch network
View lender profileWestpac
Major BankOne of the big four banks with a broad range of home loan products
View lender profileANZ
Major BankStrong digital offering and competitive rates across owner-occupier and investor loans
View lender profileNAB
Major BankKnown for flexible home loan features and strong broker support
View lender profileChallenger and Regional Banks
Fully licensed banks that often offer more competitive rates and better digital experiences than the big four.
ING
Challenger BankCompetitive rates and a strong digital experience with no physical branches
View lender profileMacquarie Bank
Challenger BankPremium digital banking with consistently competitive mortgage rates
View lender profileSuncorp Bank
Regional BankStrong in Queensland and Northern NSW with a full suite of banking products
View lender profileBank of Queensland
Regional BankRegionally focused bank with personalised service and competitive rates
View lender profileDigital and Non-Bank Lenders
Nimble lenders that often lead the market on rates, powered by lower overhead costs and innovative technology.
Bendigo Bank
Community BankCommunity-focused bank with strong customer satisfaction and competitive products
View lender profileME Bank
Online BankStraightforward home loans with competitive rates, owned by Bank of Queensland Group
View lender profileAthena Home Loans
Non-Bank LenderAustralia's fastest-growing non-bank lender with automatic rate matching for existing customers
View lender profileUnloan
Digital LenderCommonwealth Bank's digital-only brand offering some of the sharpest variable rates in Australia
View lender profileHow to Choose the Right Lender
Compare the comparison rate
The advertised rate does not include fees. The comparison rate gives you a more accurate picture of the true cost of the loan.
Match features to your needs
Offset accounts, redraw, extra repayments and split loans all have different value depending on your situation and financial goals.
Consider service and support
A low rate means little if the lender is difficult to deal with. Check customer reviews and whether you prefer branch, phone or digital service.
