5.99%

Variable annual interest rate and comparison rate 1,2

Sometimes, Simple is best

At some (life) stage you will probably want a home loan with offset attached. But if you don’t need it now, why pay for it?

With a Simple home loan you get brilliant benefits including free redraw, extra repayments and a suite of personal banking tools like linked accounts, online/mobile banking, electronic payments (ApplePay/GooglePay) and Visa debit cards.

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Without an offset account or a fee-free Visa credit card, you'll get a cheaper interest rate with a Simple home loan

Simple loans are also available for investment properties for a small interest rate surcharge of 0.25% and interest-only repayment terms are possible (again, for a small rate surcharge of 0.20%).

Simple home loan


  • No application fee

  • No annual fees

  • Investment property loans
  • Interest-only repayments

  • Offset account

  • For LVR of 60% or less3
  • Free redraw

  • Free extra repayments

  • Includes $1,000 towards legal & valuation costs for owner-occupier loans 4

  • Fee-free, low-rate Visa credit card

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Talk to us first about your home loan options

Call our highly-experienced personal bankers in Melbourne and Sydney for a chat about your current home loan situation, and what you want from your bank. 





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Fix me!

You can now lock-in your home loan rate for up to three years from 6.24% p.a. (interest and comparison rate). This works for Simple Loans (without offset) and our Complete Package which includes offset account and low-rate Visa credit card. Also available for interest-only and also investment property loans. Talk to our team to discuss your needs and options.

60% LVR or less 3

5. 99 %

Interest and comparison rate, per annum 1,2

60-70% LVR 3

6.09 %

Interest and comparison rate, per annum 1,2

Over 70% LVR 3

6.19%

Interest and comparison rate, per annum 1,2

For many people, redraw can work a lot like an offset account: read this article on how...

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1 Variable interest rates are current at 1 December, 2023 and may change depending on the current economic conditions. Offer does not apply to construction or bridging loans. 2 WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. This comparison rate has been calculated on the basis of a $150,000 loan paid over 25 years.3 Loan-to-Value Ratio or LVR is a measure of the amount you owe on your loan compared to the value of your property. To calculate your current LVR, divide your loan amount by your property value and multiply the result by 100 to give you a percentage. 4 First Option Bank will cover the first $1,000 of valuation and legal costs, other external costs incurred by First Option Bank will be on-charged. Eligibility criteria, terms and conditions, fees and charges apply. Normal lending criteria apply. Stamp duty and government charges may apply. Any legal and valuation fees will be charged at cost. Product is based on First Option's Simple Home Loan and Complete Package and is provided by First Option Bank Ltd ABN 95 087 650 735, Australian Credit Licence no. 236 509.