Offset Home Loan Rates, November 2026

The saving is the offset balance multiplied by the loan's own interest rate, charged daily. Worked against Ratesniffers' verified 80% LVR owner-occupier variable benchmark dated 20 October 2026, 6.24% p.a. with a 6.24% comparison rate, a $20,000 balance saves roughly $1,248 of interest a year and a $50,000 balance about $3,120. The snapshot does not encode offset eligibility, so that benchmark is a yardstick rather than an offset product's own rate. Because the scheduled repayment does not change, the interest saved is redirected to principal and the loan ends sooner.

Usually one of two ways, and sometimes both: an annual package fee on the loan, often a few hundred dollars, or a rate premium over the same lender's basic no-offset product. A monthly account-keeping fee is less common but does appear. None of those charges are encoded in the verified rate snapshot, so no dollar figure is published on this page. The test is whether the yearly cost is smaller than the interest your typical offset balance would save, which is the same arithmetic the offset savings calculator runs.

Ratesniffers tags products that carry an offset feature, but the index does not record whether that offset is full or partial, so no lender is named here as offering a 100 per cent offset and no rate on this page is presented as an offset rate. Filter the live table for offset to see which products are tagged, then confirm the offset type, how many offset accounts are allowed against the loan, and the fees, in the lender's own product terms before applying.

Sometimes, and far less often than on a variable loan. Where a lender does allow it on a fixed rate, the offset is frequently partial rather than full, or it is capped, and the fixed loan's own limits on extra repayments blunt the benefit. Because the verified snapshot encodes neither offset eligibility nor the offset type, no product is identified here as a fixed loan with a full offset; check the fixed rates hub for the dated fixed picks and confirm the offset terms with the lender.

Yes, with its scope intact. Quote any pick with its comparison rate, the 20 October 2026 source date and the 80% LVR scope, and note that the snapshot does not encode offset eligibility, so the table is the owner-occupier variable benchmark rather than a list of offset rates. The same verified subset is machine-readable at /rates.json, the live table is embeddable through the rate widget at /embed/rate-widget, and the national aggregates carry the statutory comparison-rate warning at /media/rate-report.

An offset account is an everyday transaction account linked to your home loan. Each day, the balance in the offset is subtracted from your loan balance before interest is calculated, so $30,000 sitting in offset against a $600,000 loan means you're charged interest on $570,000 that day. You still make your normal repayment, but more of it goes to principal because less is interest, so the loan is paid off faster. The money stays fully yours and you can spend or withdraw it at any time with no effect on the loan.

It depends on how much cash you keep in the account. An offset only saves you interest on the balance you hold in it, so the bigger and more stable your buffer, the more an offset is worth. As a rough guide, if the extra you'd pay for the offset loan over a year is less than the interest your typical offset balance would save, it pays for itself. For borrowers who keep little spare cash, a lower-rate basic loan often wins; for those holding a solid buffer, the offset usually comes out ahead.

An offset account usually wins over redraw because the balance is legally yours, available instantly, and, if you ever rent the property out, preserves the interest deductibility on the original loan, whereas redraw can be capped, charged for, or frozen, and pulling it out for personal use is treated as new borrowing that can lose deductibility. Redraw still suits disciplined savers who want a simpler, basic loan.

The table above shows the rates available in this comparison view and is sorted by comparison rate. Filter for your purpose, repayment type and LVR, then confirm eligibility and product conditions before relying on a displayed rate.

There is no single bank with the best rate for everyone, the sharpest advertised rates usually come from online-direct lenders and challenger brands rather than the Big Four, but the rate you actually qualify for depends on your deposit (LVR), whether you're owner-occupier or investor, and the loan features you need. The lender at the top of the table above has the lowest comparison rate today; sort and filter to match your situation.

A good rate is one at or near the top of the comparison table above for your specific situation. If you're paying noticeably more than the cheapest comparable loans, particularly with a 20%+ deposit and clean credit, it's worth asking your lender for a discount or refinancing.

The interest rate (or headline rate) is the cost of the loan before fees. The comparison rate folds in most standard upfront and ongoing fees, normalised on a $150,000 loan over 25 years, so two loans with the same headline rate but different fees show different comparison rates. It's a mandatory disclosure under the National Consumer Credit Protection Act 2009, and it's the fairer number to rank loans by, which is exactly how the table above is sorted.

Five levers move your rate the most: a lower LVR (a bigger deposit), choosing owner-occupier over investor where it applies, principal-and-interest over interest-only, a clean credit file, and simply asking. Lenders routinely offer existing customers a discount when they call to leave, and a licensed expert can run that negotiation across the whole panel at once, which is the service Ratesniffers connects you to for free.

Yes, and you should. Lenders price new customers more sharply than existing ones, so loyalty often costs you. Call your lender's retention team, quote a cheaper comparable rate from the table above, and ask them to match it. If they won't move, refinancing to a lender that will is usually straightforward, and many pay cashback to switch.

Variable home loan rates track the Reserve Bank's cash rate, so the direction of rates depends on the RBA's decisions, which it reviews roughly every six weeks. We don't make forecasts we can't stand behind, but we do publish a wrap of every RBA decision and what it means for variable-rate borrowers, see our news page. Fixed rates move ahead of the cash rate, based on what the market expects the RBA to do next.

Individual lenders change rates continually, sometimes several times a week, and often within days of an RBA decision or a competitor's move. That's why a comparison table is only useful if it's fresh. Ratesniffers refreshes its rate index daily and stamps every page with the last-updated date so you're never comparing stale numbers.

Variable rates move with the RBA cash rate, so you benefit when rates fall and pay more when they rise; they also tend to come with offset accounts and free extra repayments. Fixed rates lock your repayment for a set term, which buys certainty but usually limits extra repayments and charges break costs if you exit early. Many borrowers split the loan to get some of each, you can filter for fixed, variable or split above.

A deposit of 20% or more (an LVR of 80% or less) gets you the sharpest rates and avoids Lenders Mortgage Insurance, but you can borrow with as little as 5% down. Lower deposits usually mean a slightly higher rate plus LMI, though eligible first home buyers using the Australian Government 5% Deposit Scheme can avoid LMI even with a small deposit. Use the LVR filter above to see only the loans you qualify for.

Often, yes. Advertised rates are a starting point, and lenders price a well-presented file below their published rate more often than people expect. A licensed expert can put your scenario to the lender and ask for a sharper rate on your behalf, usually at no cost to you. Ratesniffers offers that as a free rate review, and the comparison itself is free and unbiased.

The comparison index was last refreshed on 31 October 2026. We stamp the date on the page so you can assess how current the displayed rates are.

Comparing rates and using the calculators is completely free, with no sign-up or email gate. We don't take paid placement to influence the ranking, loans are sorted by comparison rate, full stop. When you choose to speak to a broker about applying, the lender pays the broker a commission, the same way it would for any mortgage. That's how the service stays free to you.