Why refinance?

Dr Steve has some simple advice about why you might want to refinance your home loan...

Premium home loan packages

Our popular home loan packages offer the right balance between low interest rates1 with extras like included offset account, fee-free credit card, free redraw and unlimited extra repayments.


  • Loan terms up to 30 years
  • Maximum loan amount up to 80% LVR2 
  • Loan amounts from $150,000
  • Principal plus interest or interest-only options available
  • Owner-occupier or investment property loans
  • No early-payout penalty


Offset account:  yes, up to 100% of loan 
Extra repayments: yes, unlimited and free
Redraw option: yes, included for free


Application fee: $03
Monthly fees: $0
Annual fee: $375

1 Interest rates are subject to change at the discretion of First Option Bank
2 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.
3 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 on-charged at cost. Product is provided by First Option Bank Ltd ABN 95 087 650 735, Australian Credit Licence no. 236 509.

Fee-free credit card

Interest rate: 10.99% pa*
Interest free period: up to 45 days
Fees:  none, when you have a Premium, Premium+ or Platinum home loan package with First Option

* Terms, conditions, fees and charges apply. Normal lending criteria apply.

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First Option Bank - low-rate credit card