Money › Home loans › Loyalty tax
Are you paying the loyalty tax?
Banks often keep their best home loan rates for new borrowers. If you've had your loan for a while, you may be paying more than your own bank asks of someone walking in today. Put in your loan and see what that gap costs you.
Choose your bank above to see its new-borrower rate and what the gap costs you.
How to ask for a lower rate
- Find your bank's new-customer rate. It's on the bank's website, and above if you pick your bank. Note the loan's name.
- Call and ask them to match it. Say what you pay, what they offer new borrowers, and that you're thinking of moving. Banks often lower the rate when you ask.
- If they won't, look elsewhere. Every bank's rates are on our home loans page. Moving costs money too, so check the fees before you switch.
4 loans at 2 banks publish a separate, higher rate for existing customers. The typical gap is 0.80%. Most banks don't publish one, so the only way to know is to compare your rate with what they advertise.
General information, not advice. This shows what banks publish. It doesn't recommend any product, and the order of a table is not a ranking. Rates change, so check the bank's own page for current details before you decide anything.
Struggling with repayments? The National Debt Helpline is free and confidential on 1800 007 007, or at ndh.org.au.
Source: each bank's own product data, published under the Consumer Data Right, as at 16 October 2026. Every product name links to its page at the bank.