Interest
6.24%p.a.
Comparison*
6.24%p.a.
Est. repayment
$3,075
LVR ≤70%
People First Bank Home Loan Rates
People First Bank lifted its variable home-loan rates by 0.25 percentage points from 13 October 2026, Ratesniffers records. Every lender's date is in the RBA rate pass-through tracker.
Tracked products
58
Variable product example
6.34%
A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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.
Fixed product example
—
Check the product rates and conditions in the table. A verified example for this loan scenario is unavailable.
Variable example comparison
6.34%
A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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.
Last updated
20 October 2026
People First Bank is one of Australia's largest customer-owned banks, formed when Adelaide-based People's Choice merged with Heritage Bank. The merged entity continues to operate dual brands while consolidating onto a shared product set. Variable and fixed home loans bundle offset and redraw on the Anytime Plus package.
What are People First Bank home loan rates?
Ratesniffers compares People First Bank home loan products by comparison rate. A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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. Compare People First Bank 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 People First Bank home loan rate?
A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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. These selected examples do not establish the lowest rate across every product or borrower scenario.
How many home loan products does People First Bank offer?
Ratesniffers currently tracks 58 People First Bank home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 48 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.
People First Bank home loan rates at a glance
| Product type | Rate | Comparison rate | Max LVR |
|---|---|---|---|
| Variable Owner-occupier P&I | 6.24% p.a. | 6.24% p.a. | 70% |
| Variable Owner-occupier P&I | 6.34% p.a. | 6.34% p.a. | 80% |
| Variable Owner-occupier P&I | 6.34% p.a. | 6.34% p.a. | 90% |
| Variable Investor P&I | 6.39% p.a. | 6.39% p.a. | 70% |
| Fixed 3-year Owner-occupier P&I | 6.44% p.a. | 6.37% p.a. | 90% |
| Fixed 3-year Owner-occupier P&I | 6.44% p.a. | 6.37% p.a. | 80% |
| Variable Investor P&I | 6.49% p.a. | 6.49% p.a. | 80% |
| Variable Investor P&I | 6.49% p.a. | 6.49% p.a. | 90% |
| Fixed 1-year Owner-occupier P&I | 6.49% p.a. | 6.36% p.a. | 90% |
| Fixed 1-year Owner-occupier P&I | 6.49% p.a. | 6.36% p.a. | 80% |
| Fixed 2-year Owner-occupier P&I | 6.54% p.a. | 6.38% p.a. | 90% |
| Fixed 2-year Owner-occupier P&I | 6.54% p.a. | 6.38% p.a. | 80% |
48 of 58 tracked People First Bank home loan products
Interest
6.34%p.a.
Comparison*
6.34%p.a.
Est. repayment
$3,108
LVR 70 to 80%
People First BankBasic Home Loan 80% - 90% LVR >$500k Owner Occupied P&I LMI Waiver.
VariableOffsetRedraw
Interest
6.34%p.a.
Comparison*
6.34%p.a.
Est. repayment
$3,108
LVR 80 to 90%
Interest
6.39%p.a.
Comparison*
6.39%p.a.
Est. repayment
$3,124
LVR ≤70%
Interest
6.44%p.a.
Comparison*
6.37%p.a.
Est. repayment
$3,141
LVR ≤90%
Interest
6.44%p.a.
Comparison*
6.37%p.a.
Est. repayment
$3,141
LVR ≤80%
Interest
6.49%p.a.
Comparison*
6.49%p.a.
Est. repayment
$3,157
LVR 70 to 80%
People First BankBasic Home Loan 80% - 90% LVR >$500k Investment P&I LMI Waiver.
VariableOffsetRedraw
Interest
6.49%p.a.
Comparison*
6.49%p.a.
Est. repayment
$3,157
LVR 80 to 90%
Interest
6.49%p.a.
Comparison*
6.36%p.a.
Est. repayment
$3,157
LVR ≤90%
Interest
6.49%p.a.
Comparison*
6.36%p.a.
Est. repayment
$3,157
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.38%p.a.
Est. repayment
$3,174
LVR ≤90%
Interest
6.54%p.a.
Comparison*
6.38%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.40%p.a.
Est. repayment
$3,174
LVR ≤90%
Interest
6.54%p.a.
Comparison*
6.40%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.41%p.a.
Est. repayment
$3,174
LVR ≤90%
Interest
6.54%p.a.
Comparison*
6.41%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.54%p.a.
Comparison*
6.43%p.a.
Est. repayment
$3,174
LVR ≤90%
Interest
6.54%p.a.
Comparison*
6.43%p.a.
Est. repayment
$3,174
LVR ≤80%
Interest
6.69%p.a.
Comparison*
Not available
Est. repayment
$3,223
LVR ≤70%
Interest
6.69%p.a.
Comparison*
6.51%p.a.
Est. repayment
$3,223
LVR ≤90%
Interest
6.69%p.a.
Comparison*
6.51%p.a.
Est. repayment
$3,223
LVR ≤80%
People First BankBasic Home Loan 80% - 90% LVR <$500k Owner Occupied P&I LMI Waiver.
VariableOffsetRedraw
Interest
6.74%p.a.
Comparison*
6.74%p.a.
Est. repayment
$3,240
LVR 80 to 90%
Interest
6.74%p.a.
Comparison*
6.54%p.a.
Est. repayment
$3,240
LVR ≤90%
Interest
6.74%p.a.
Comparison*
6.54%p.a.
Est. repayment
$3,240
LVR ≤80%
Interest
6.74%p.a.
Comparison*
6.56%p.a.
Est. repayment
$3,240
LVR ≤90%
Interest
6.74%p.a.
Comparison*
6.56%p.a.
Est. repayment
$3,240
LVR ≤80%
Interest
6.74%p.a.
Comparison*
6.58%p.a.
Est. repayment
$3,240
LVR ≤90%
Interest
6.74%p.a.
Comparison*
6.58%p.a.
Est. repayment
$3,240
LVR ≤80%
Interest
6.74%p.a.
Comparison*
6.60%p.a.
Est. repayment
$3,240
LVR ≤90%
Interest
6.74%p.a.
Comparison*
6.60%p.a.
Est. repayment
$3,240
LVR ≤80%
Interest
6.79%p.a.
Comparison*
Not available
Est. repayment
$3,256
LVR 70 to 80%
Interest
6.84%p.a.
Comparison*
6.48%p.a.
Est. repayment
$3,273
LVR ≤90%
People First BankBasic Home Loan 80% - 90% LVR <$500k Investment P&I LMI Waiver.
VariableOffsetRedraw
Interest
6.89%p.a.
Comparison*
6.89%p.a.
Est. repayment
$3,290
LVR 80 to 90%
Interest
6.89%p.a.
Comparison*
Not available
Est. repayment
$3,290
LVR ≤80%
Interest
6.89%p.a.
Comparison*
6.40%p.a.
Est. repayment
$3,290
LVR ≤90%
Interest
6.94%p.a.
Comparison*
Not available
Est. repayment
$3,306
LVR ≤80%
Interest
6.94%p.a.
Comparison*
6.46%p.a.
Est. repayment
$3,306
LVR ≤90%
Interest
6.94%p.a.
Comparison*
Not available
Est. repayment
$3,306
LVR ≤80%
Interest
6.94%p.a.
Comparison*
6.51%p.a.
Est. repayment
$3,306
LVR ≤90%
Interest
6.94%p.a.
Comparison*
Not available
Est. repayment
$3,306
LVR ≤80%
Interest
6.94%p.a.
Comparison*
6.56%p.a.
Est. repayment
$3,306
LVR ≤90%
Interest
6.94%p.a.
Comparison*
Not available
Est. repayment
$3,306
LVR ≤80%
Interest
6.94%p.a.
Comparison*
6.61%p.a.
Est. repayment
$3,306
LVR ≤90%
Interest
7.09%p.a.
Comparison*
6.55%p.a.
Est. repayment
$3,357
LVR ≤90%
Interest
7.14%p.a.
Comparison*
6.62%p.a.
Est. repayment
$3,374
LVR ≤90%
Interest
7.14%p.a.
Comparison*
6.68%p.a.
Est. repayment
$3,374
LVR ≤90%
Interest
7.14%p.a.
Comparison*
6.73%p.a.
Est. repayment
$3,374
LVR ≤90%
Interest
7.14%p.a.
Comparison*
6.78%p.a.
Est. repayment
$3,374
LVR ≤90%
*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.
People First Bank home loan repayment calculator
The starting interest input uses this selected People First Bank product example: Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. Change the loan amount, rate or term to model your own mortgage. Repayments are principal and interest estimates, assume the entered rate remains unchanged, and exclude fees. Changes to these inputs do not establish product eligibility or approval.
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 amount you want to borrow.
Use the interest rate, not the comparison rate. Change it to model an actual offer or your own scenario.
Use the term in your offer or choose the number of years to model.
Monthly repayment
$3,108
Fortnightly repayment
$1,434
Total interest
$618,849
30 years at 6.34% (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 People First Bank?
People First Bank is the brand of Heritage and People's Choice Ltd, formed by the 2023 merger of Toowoomba-based Heritage Bank and Adelaide-based People's Choice Credit Union, creating Australia's largest customer-owned bank with almost $25 billion in assets and more than 740,000 customers.
As a mutual, it has no external shareholders, so profits are returned through pricing and service rather than dividends. The Heritage and People's Choice brands continue to serve their home states while the combined bank transitions to the People First name.
Who suits a People First Bank home loan?
People First tends to suit borrowers who prefer a customer-owned alternative to the listed banks, particularly in Queensland and South Australia where its branch heritage is strongest. Mutual pricing is often sharp but not automatically the sharpest, so check its position in the live table above.
Since the 2023 merger, sister brand Heritage Bank still sets its own pricing on the Toowoomba side of the group, so compare both before choosing.
Background facts checked 28 August 2026. Rates above refresh independently.
People First Bank fees, offset and limits at a glance
- Application or establishment fee
- $0
- Discharge fee
- $350
- Settlement fee
- $0
- Additional valuation fee
- $300
- Rate lock fee
- 0.15% of loan amount (deducted from loan)
- Loan portability
- $300
- Minimum offset balance
- $1
- Maximum total lending
- $999,999,999
- Extra repayments on fixed
- $10,000 per anniversary year
- When the fixed rate is locked
- Time of application
Checked 8 Oct 2026. Lender fees and policy change without notice, so confirm the detail with the lender before you apply.
People First Bank home loans: frequently asked questions
What are People First Bank home loan rates?
Ratesniffers compares People First Bank home loan products by comparison rate. A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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. Compare People First Bank at /home-loans. The /guides/comparison-rate explains the fee-inclusive figure used to rank the table. To model extra payments, use /calculators/extra-repayment.
What is the lowest People First Bank home loan rate?
A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. This is a selected example, not every product or a personalised offer. 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. These selected examples do not establish the lowest rate across every product or borrower scenario.
What is the monthly repayment on a $600,000 People First Bank home loan?
For a hypothetical $600,000 principal-and-interest loan over 30 years, keeping this variable interest rate unchanged gives about $3,729 a month before fees. The selected source example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. Variable rates can change; this calculation does not establish eligibility or approval. 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. Use /calculators/repayment to model your own amount and term.
How much do you need to earn for a $500,000 People First Bank home loan?
There is no single salary requirement for a People First Bank home loan. The lender assesses income, expenses, debts and repayment capacity. APRA's residential mortgage framework generally requires governed authorised deposit-taking institutions to apply a minimum 3 percentage point buffer above the payable interest rate, ignoring temporary introductory discounts, with prudent limited policy exceptions. This does not establish People First Bank's actual assessment rate or approval criteria. Confirm the applicable lender policy and use /calculators/income-required for an illustrative estimate, not approval.
How does People First Bank's home loan rate compare to the market?
A verified People First Bank product example is Basic Home Loan 70% - 80% LVR Owner Occupied P&I.: 6.34% p.a. (6.34% comparison rate), variable, for an owner-occupier principal-and-interest loan at 80% LVR (listed LVR band 70% to 80%), as of 20 October 2026. Across 30 covered listed lenders, the median advertised interest rate of one selected owner-occupier principal-and-interest variable example per lender at 80% LVR is 6.44% p.a., as of 20 October 2026. This describes those selected examples, not the whole market or rates approved for borrowers. 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.
How many home loan products does People First Bank offer?
Ratesniffers currently tracks 58 People First Bank home loan products across variable, fixed and interest-only options for owner-occupiers and investors, and ranks the 48 that pass our data-quality checks on this page. Every rate is checked daily against each lender's current published pricing and ranked by comparison rate, the ASIC-mandated figure that folds in most fees, so the genuinely cheapest loans sit at the top.
Is People First Bank competitive for refinancing?
Compare People First Bank's available product conditions and total costs with your existing loan. A listed rate does not establish refinance eligibility. Allow for discharge, establishment and any fixed-loan early repayment costs, and confirm applicable lender terms before switching. Compare the table with /home-loans/refinance.
How often are People First Bank's home loan rates updated?
Ratesniffers refreshes People First Bank's home loan rates daily; this page was last updated 20 October 2026. Rates can change whenever People First Bank reprices or the RBA moves the cash rate, so the figures shown reflect the most recent data we hold rather than a static snapshot.