Interest
6.09%p.a.
Comparison*
6.14%p.a.
Est. repayment
$3,027
LVR 70 to 80%
Bank First Home Loan Rates
Tracked products
128
Lowest variable
6.09%
Lowest fixed
6.44%
Lowest comparison
6.14%
Last updated
19 Aug 2026
Bank First is one of the Australian home-loan lenders we track daily. We currently surface 128 active products from Bank First, refreshed from authoritative lender sources. The product table below sorts by comparison rate by default, the true-cost metric mandated by the National Consumer Credit Protection Act 2009, so you can see total cost, including standard fees, at a glance.
What are Bank First home loan rates?
Bank First home loan rates are in the live table on this page, ranked by comparison rate, with the lowest variable rate currently 6.09% p.a. and the lowest fixed rate currently 6.44% p.a., last verified 19 Aug 2026. Compare Bank First against the wider market on home loan rates, check the comparison rate used to rank the table, or model extra payments with the extra repayments calculator.
What is the lowest Bank First home loan rate?
The lowest Bank First variable home loan rate Ratesniffers tracks is 6.09% p.a., and the lowest fixed rate is 6.44% p.a. These figures come from the 13 Bank First products on this page that pass data-quality checks, ranked by comparison rate, last verified 19 Aug 2026.
How many home loan products does Bank First offer?
Ratesniffers currently tracks 128 Bank First home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 13 that pass our data-quality checks on this page. Every rate is ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest products sit at the top.
Bank First home loan rates at a glance
| Product type | Rate | Comparison rate | Max LVR |
|---|---|---|---|
| Variable Owner-occupier P&I | 6.09% p.a. | 6.14% p.a. | 80% |
| Variable Owner-occupier P&I | 6.19% p.a. | 6.24% p.a. | 80% |
| Fixed 4-year Owner-occupier P&I | 6.54% p.a. | 6.37% p.a. | 80% |
| Fixed 5-year Owner-occupier P&I | 6.54% p.a. | 6.39% p.a. | 80% |
| Variable Owner-occupier P&I | 6.19% p.a. | 6.58% p.a. | 80% |
| Fixed 3-year Owner-occupier P&I | 6.59% p.a. | 6.35% p.a. | 80% |
| Fixed 1-year Owner-occupier P&I | 6.54% p.a. | 6.61% p.a. | 80% |
| Fixed 1-year Owner-occupier P&I | 6.64% p.a. | 6.28% p.a. | 80% |
| Fixed 2-year Owner-occupier P&I | 6.64% p.a. | 6.33% p.a. | 80% |
| Fixed 2-year Owner-occupier P&I | 6.54% p.a. | 6.65% p.a. | 80% |
| Fixed 3-year Owner-occupier P&I | 6.49% p.a. | 6.66% p.a. | 80% |
| Fixed 4-year Owner-occupier P&I | 6.44% p.a. | 6.67% p.a. | 80% |
13 of 128 tracked Bank First home loan products
Interest
6.19%p.a.
Comparison*
6.24%p.a.
Est. repayment
$3,059
LVR 70 to 80%
Interest
6.54%p.a.
Comparison*
6.37%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.39%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.19%p.a.
Comparison*
6.58%p.a.
Est. repayment
$3,059
LVR 70 to 80%
Interest
6.59%p.a.
Comparison*
6.35%p.a.
Est. repayment
$3,190
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.61%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.64%p.a.
Comparison*
6.28%p.a.
Est. repayment
$3,207
LVR ≤80%
Interest
6.64%p.a.
Comparison*
6.33%p.a.
Est. repayment
$3,207
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.65%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.49%p.a.
Comparison*
6.66%p.a.
Est. repayment
$3,157
LVR ≤80%
Interest
6.44%p.a.
Comparison*
6.67%p.a.
Est. repayment
$3,141
LVR ≤80%
Interest
6.44%p.a.
Comparison*
6.69%p.a.
Est. repayment
$3,141
LVR ≤80%
*Important Information and Comparison Rate Warning
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Bank First home loan repayment calculator
Pre-filled with Bank First's lowest advertised variable rate in the table above, 6.09% p.a. Change the loan amount, rate or term to model your own mortgage. Repayments are principal and interest estimates and exclude fees, so the comparison rate in the table is the better guide to total cost.
The amount you want to borrow.
Bank First's lowest variable today: 6.09%.
Most owner-occupier loans run 25 to 30 years.
Monthly repayment
$3,027
Fortnightly repayment
$1,397
Total interest
$589,628
30 years at 6.09% (P&I)
For a fuller model, use the repayment calculator, see how extra payments change the balance with the extra repayments calculator, or check what you can borrow with the borrowing power calculator.
Who is Bank First?
Bank First is the Victorian teacher mutual, founded in the early 1970s as Victoria Teachers Credit Union and renamed Bank First in December 2017. It remains customer-owned and still specialises in the education sector, while extending eligibility to healthcare and other community professionals.
Its signature offer is an LMI waiver with firm gates. First home buyers working in the education or healthcare sector can borrow up to 90% of the property value on an owner-occupied purchase without paying lenders mortgage insurance. The waiver is not available alongside any Government scheme, excludes refinancing with equity release and off-the-plan or construction loans, postcode restrictions apply, and loans above 80% LVR carry a higher interest rate than the sub-80% tier.
Who suits a Bank First home loan?
Bank First tends to suit teachers, school staff and health professionals, particularly in Victoria, and specifically first home buyers with a 10 to 20% deposit who are buying a home to live in, which is the only case where the LMI waiver applies. Refinancers, investors and buyers using a Government scheme do not get the waiver, so they compare Bank First on comparison rate alone against the table above. Where the waiver does apply, weigh the LMI premium it removes against the higher rate charged above 80% LVR over the years you expect to hold the loan.
Background facts checked 3 September 2026. Rates above refresh independently.
Sources checked 3 September 2026: Bank First, waiving LMI premiums for teachers and healthcare sectors.
Bank First home loans: frequently asked questions
What are Bank First home loan rates?
Bank First home loan rates are in the live table on this page. The lowest variable rate Ratesniffers ranks is currently 6.09% p.a., and the lowest fixed rate is 6.44% p.a., last verified 19 Aug 2026. Compare Bank First against the wider market at /home-loans. The /guides/comparison-rate explains the fee-inclusive figure used to rank the table. To model extra payments on a Bank First balance, use /calculators/extra-repayment.
What is the lowest Bank First home loan rate?
Bank First's lowest variable home loan rate is currently 6.09% p.a., and its lowest fixed rate is 6.44% p.a., based on the 13 Bank First products Ratesniffers ranks by comparison rate, last verified 19 Aug 2026. The advertised rate isn't always the rate Bank First approves, a broker can often negotiate a sharper deal on your scenario.
What is the monthly repayment on a $600,000 Bank First home loan?
At Bank First's lowest variable rate of 6.09% p.a., a $600,000 principal and interest loan over 30 years repays about $3,632 a month, and $500,000 about $3,027. That is an estimate at the advertised rate before fees; the comparison rate in the table above carries the fees, and a fixed or interest-only loan repays differently.
How much do you need to earn for a $500,000 Bank First home loan?
There is no single salary. Like every Australian lender, Bank First must assess a new home loan at a rate at least 3 percentage points above the loan's rate under APRA's serviceability buffer, so 6.09% p.a. is assessed at about 9.09% p.a., then test that repayment against income after living expenses and other debts. The income required calculator at /calculators/income-required works this backwards from a property price and deposit.
How does Bank First's home loan rate compare to the market?
Bank First's lowest variable home loan rate today is 6.09% p.a., which is 15 basis points below the market median of 6.24% p.a., which puts Bank First among the more competitive lenders on variable rates today. This is computed daily from the live rates across the lenders Ratesniffers tracks, so it reflects where Bank First sits right now rather than a fixed snapshot.
How many home loan products does Bank First offer?
Ratesniffers currently tracks 128 Bank First home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 13 that pass our data-quality checks on this page. Every rate is ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest loans sit at the top.
Is Bank First competitive for refinancing?
It depends on your loan size and LVR. Bank First's lowest comparison rate is currently 6.14% p.a., worth checking against the wider market before you switch. On a $500,000 loan, even a 0.30% p.a. difference is about $100 a month, so comparing Bank First against the sharpest available rate usually pays off.
How often are Bank First's home loan rates updated?
Ratesniffers last verified Bank First's home loan rates on 19 Aug 2026. Rates can change whenever Bank First reprices or the RBA moves the cash rate, so always confirm the current rate with the lender before acting.