Quick answer: the big four banks, Macquarie and ING all offer offset accounts and fixed or variable loans, but they differ in fees, government schemes and lending policy. All four majors are on the 5% Deposit Scheme panel, while CommBank is the only major offering Help to Buy. ANZ offers an LMI waiver for eligible professionals, Westpac can count rent as savings, and Macquarie suits investors with several properties.
This guide covers six of the lenders our clients ask about most. It sets out their main home loans and the policies that make a real difference, using each lender’s own website. It doesn’t rank them: the right lender depends on you.
How to read this guide
We compare 40+ lenders, including these six, and are paid a commission by the lender when a loan settles. Under the Best Interests Duty we must recommend what suits you, not what pays us more. We don’t list interest rates here because they change often; each section links to the lender’s current rates. General information only, checked against lender websites on 27 October 2026.
The six lenders at a glance
| Lender | Offset | Package or fees | 5% Deposit Scheme | Help to Buy | Stands out for |
|---|---|---|---|---|---|
| CommBank | Yes | Wealth Package $395/yr | Yes | Yes | Help to Buy, app |
| Westpac | Up to 10 | Premier Advantage $395/yr | Yes | No | Rent as savings, family guarantee |
| ANZ | Yes (ANZ One) | No package fee | Yes | No | LMI waiver for professionals |
| NAB | Up to 10 | Monthly fee on some loans | Yes | No | Multiple offsets, ADF loans |
| Macquarie | Up to 10 | Annual fee on Offset loan | Not stated | No | Investor portfolios |
| ING | Yes (Orange Advantage) | Annual fee on Orange Advantage | Not stated | No | Simple, low fees |
From each lender’s home loans page and Housing Australia panel announcements, October 2026. “Not stated” means the lender’s home loans page doesn’t mention it.
Commonwealth Bank (CommBank)
Australia’s largest home lender, with a strong app and the widest government-scheme coverage of the big four.
Home loans
- Standard Variable Rate, which comes with the Wealth Package ($395 a year)
- Simple Home Loan, a lower-cost variable loan with fewer features
- Digi Home Loan, applied for entirely in the CommBank app
- Fixed rates, with an optional rate lock
- Construction and bridging loans
Worth knowing
- Takes part in both the 5% Deposit Scheme and Help to Buy, the only major bank offering Help to Buy so far
- Everyday Offset accounts, with more available on the Standard Variable Rate than on the Simple Home Loan
- Interest-only for up to 5 years on owner-occupied loans and up to 15 years on investment loans, subject to approval
Can suit: first home buyers using Help to Buy, people who want everything in one banking app, and borrowers who like several offset accounts for budgeting. Current rates and fees: Commonwealth Bank home loans.
Westpac
One of the big four, with a simple product line-up and a few policies that help first home buyers and the self-employed.
Home loans
- Rocket Repay Home Loan, a variable loan with up to 10 offset accounts, usually with the Premier Advantage Package ($395 a year, loans from $150,000)
- Flexi First Option, a basic variable loan with no establishment or monthly fees (also as an investment loan)
- Fixed rates for 1 to 5 years, and split loans
Worth knowing
- On the 5% Deposit Scheme panel
- Up to six months of rent payments may count towards genuine savings
- Family Security Guarantee: a family member can guarantee part of the loan so you avoid LMI
- Offers a fast-track assessment for some self-employed borrowers
Can suit: renters with a good payment history, buyers with family willing to guarantee, and self-employed borrowers with straightforward finances. Current rates and fees: Westpac home loans.
ANZ
A big four bank with no package fee on its home loans and an LMI waiver for eligible professionals.
Home loans
- ANZ Standard Variable, with the ANZ One offset account
- ANZ Simplicity PLUS, a no-frills variable loan
- ANZ Fixed Rate, split loans, construction, bridging and supplementary loans
- ANZ Plus home loans, a separate app-based range with its own terms
Worth knowing
- Joined the 5% Deposit Scheme panel in 2026
- No package fee or ongoing fee on new loans, per its website
- An LMI waiver for eligible professionals
- Advertises easier income verification for self-employed applicants
Can suit: eligible professionals who want to avoid LMI, and borrowers who want an offset account without a yearly package fee. Current rates and fees: ANZ home loans.
NAB
A big four bank with a flexible variable loan and a dedicated loan for Defence Force members.
Home loans
- Tailored variable rate with offset, with up to 10 offset accounts and unlimited extra repayments
- Tailored fixed rate for 1 to 5 years, with extra repayments up to $20,000 during the fixed term
- Basic variable rate
- NAB Defence Force Home Loans for eligible ADF members
Worth knowing
- On the 5% Deposit Scheme panel, for first home buyers and single parents
- Tailored loans can be split between fixed and variable
- Some products charge a monthly service fee, so compare the total cost, not just the rate
Can suit: borrowers who want several offset accounts on a variable loan, and eligible Defence Force members. Current rates and fees: NAB home loans.
Macquarie Bank
A non-major bank that has grown fast, mostly through brokers, with flexible structures for investors.
Home loans
- Basic Home Loan: variable, fixed or split, with no ongoing fees
- Offset Home Loan: up to 10 offset accounts per variable account, with an annual fee
Worth knowing
- A single facility limit can cover several properties and loan accounts, which suits investors building a portfolio
- Offset accounts can’t be linked to fixed portions
- Its home loans page doesn’t mention the 5% Deposit Scheme or Help to Buy
Can suit: investors with more than one property, and borrowers who want offset accounts kept separate for different goals. Current rates and fees: Macquarie Bank home loans.
ING
An online bank with a short, simple product range and no branches.
Home loans
- Mortgage Simplifier: a low-fee variable loan with no ongoing account-keeping fees, unlimited extra repayments and redraw
- Orange Advantage: a variable loan with a 100% offset through an Orange Everyday account, and an annual fee
- Fixed rates for 1 to 5 years (no offset while fixed)
- Green Upgrade Loan: a 5-year fixed loan for energy-efficient home upgrades
Worth knowing
- Its best variable pricing is generally for owner-occupiers borrowing 80% of the value or less
- Its home loans page doesn’t mention the 5% Deposit Scheme or Help to Buy
Can suit: borrowers with a 20% deposit who want a simple, low-fee loan and are comfortable banking online. Current rates and fees: ING home loans.
What lender websites don’t show
The biggest differences between lenders are often in their credit policy, which isn’t on their websites. For example:
- How much of your overtime, bonuses, commissions or casual income they count, and how long you need to have earned it
- How they treat rental income and the rent you pay or receive
- Self-employed income: one year or two of tax returns, and which add-backs they accept
- Visa holders: which visas they accept and what deposit they need. See buying on a visa
- Apartment and postcode limits, and how they value new or off-the-plan property
Two lenders can give the same person borrowing power that differs by tens of thousands of dollars. That’s the main reason to compare before you apply. Our borrowing power calculator gives a starting point.
Beyond the big banks
Smaller banks, credit unions and non-bank lenders often have sharper rates or more flexible policies, especially for self-employed borrowers, people with past credit issues and some visa holders. Several are on the 5% Deposit Scheme panel, and some of the Help to Buy lenders are smaller banks. We include them in every comparison.
Home loan lenders: common questions
Which bank is best for home loans in Australia?
There isn’t one best bank. The right lender depends on your deposit, income type, the property and the features you need. A lender that suits a salaried first home buyer may be a poor fit for a self-employed investor. We compare your situation across 40+ lenders, including the banks on this page, before recommending one.
Which lenders offer the 5% Deposit Scheme?
Around 30 lenders are on Housing Australia’s panel, including all four major banks (CommBank, Westpac, NAB and ANZ), many smaller banks and, since August 2026, its first non-bank lender. The panel changes, so check the current list or ask us.
Which lenders offer Help to Buy?
As at October 2026, CommBank, Bank Australia, the Teachers Mutual Bank group and Queensland Country Bank. CommBank is the only major bank taking part.
Is it better to go straight to my bank?
Your own bank is one option, and sometimes the best one. A broker compares it with other lenders, which matters because policies on things like overtime, rental income, visas and self-employed income vary widely. If your bank’s offer is the best, we’ll tell you.
Do mortgage brokers get paid more by some lenders?
Commission rates differ a little between lenders. Under the Best Interests Duty we must recommend the loan that suits you, not the one that pays us more, and we disclose commissions in writing.
Why don’t you list interest rates?
Rates change often, sometimes weekly, and the rate you’re offered depends on your deposit, loan size and situation. We link to each lender’s current rates and work out your actual rate when we compare.
Sources: home loan pages of Commonwealth Bank, Westpac, ANZ, NAB, Macquarie Bank, ING (checked 27 October 2026); Housing Australia 5% Deposit Scheme panel announcements (ANZ, March 2026; first non-bank lender, August 2026). Product names, features and fees can change; confirm with the lender. General information only, not a recommendation of any lender or product.