Ubank home loan review
Ubank is an online-direct lender, and Ratesniffers tracks 23 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 6.14% p.a., and its lowest fixed rate is 6.59% p.a. That sits about 5 basis points below the market median of 6.19% p.a., putting it among the more competitive lenders right now.
Is Ubank a good home loan lender?
Ubank suits salaried borrowers who want a low fee loan run entirely online, with an offset available for a modest annual fee. Ratesniffers checked its published rates and fees page and its eligibility answers on 3 Sept 2026. The trade-off is eligibility: Ubank does not lend to self employed applicants and has no branches.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 3 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
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.
Ubank home loan interest rates by term
The lowest owner-occupier, principal and interest rate Ubank has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| Variable | 6.14% p.a. | 6.16% p.a. |
| 1-year fixed | 6.74% p.a. | 7.11% p.a. |
| 2-year fixed | 6.79% p.a. | 7.10% p.a. |
| 3-year fixed | 6.94% p.a. | 7.14% p.a. |
| 5-year fixed | 7.09% p.a. | 7.21% p.a. |
The case for
- Its sharpest variable rate sits below the market median of 6.19% p.a. in the rate snapshot on this page.
- The Neat variable loan carries a $0 annual fee, with free additional payments and free redraw.
- The Flex variable loan gives 100% interest offset across multiple linked Ubank Spend, Bills and Save accounts.
- One $250 annual fee on Flex covers up to five Flex split loans.
- Ubank covers the first property valuation up to $360 across all three home loans.
- Ubank is part of National Australia Bank Limited and operates under NAB's banking licence.
What to weigh up
- Ubank states it does not lend to self employed individuals, and a loan can have a maximum of two borrowers.
- Joint applications are limited to a spouse or de facto partner, so applying with a sibling or parent is not possible.
- A $250 loan advance fee applies on every product, and the discharge fee is $300 per property.
- On Flex fixed, additional payments and redraw are capped at $20,000 during the fixed term, and an optional rate lock costs $500.
- There are no branches, so applications and servicing run online or by phone.
Who Ubank suits and who it does not
Ubank tends to suit PAYG borrowers who bank on their phone and want a full offset without a large package fee, since the Flex annual fee is $250 and covers up to five split loans. It suits less well for self employed applicants, whom Ubank states it does not lend to, for anyone wanting to borrow with a parent or sibling, or for anyone who wants branch servicing, because Ubank has no physical branches.
Ubank home loans: our verdict
Ubank is a credible choice whose lowest variable rate of 6.14% p.a. currently sits about 5 basis points below the market median, which is competitive today (last updated 23 Sept 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.
Sources checked 3 Sept 2026: Ubank, Home loan interest rates and fees; Ubank, Neat variable home loan; Ubank, Flex variable home loan; Ubank, Who can apply for a home loan; Ubank, Minimum deposit or equity; Ubank, Why Ubank. Fees and product terms change, so confirm them with Ubank before applying.
See if you can do better than Ubank
The advertised rate isn't always the rate you'll be approved for. Compare Ubank against the wider panel, or have your scenario negotiated, at no cost.