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A home loan ready to get moving when you are

Get a head start with our No Frills Owner Occupied or Investment Home Loan. Our No Frills Home Loan is available to new home buyers or investors looking for a variable interest rate with features designed for a smooth and easy experience.

No ongoing fees

No ongoing monthly loan fees, or early payout fees 1

Pay off sooner

Additional repayment options without penalty

Options and choices

Redraw available online or via app without fees 2

  • Variable interest rate option loan
  • Available to individuals, companies and trusts
  • Additional repayment options without penalty
  • No ongoing monthly loan fees, or early payout fees 1
  • Redraw available online or via app without fees 2
  • Interest only option available for Construction Loan 3
  • Minimum loan amount $150,000
  • Application fees apply
  • Offset account not applicable to No Frills Home Loan
  • Loan period up to 30 years
  • Flexible repayment options available weekly, fortnightly or monthly
Loan to Value Ratio (LVR) Variable Interest Rate^ Comparison Rate *
Greater than $150,000 6.79% p.a^ 6.84% p.a.*
Loan to Value Ratio (LVR) Variable Interest Rate^ Comparison Rate *
LVR equal to or less than 80% 6.99% p.a^ 7.04% p.a*
LVR greater than 80% and equal to or less than 90% 7.19% p.a^ 7.24% p.a*
LVR greater than 90% 7.39% p.a^ 7.44% p.a*

Rates effective from 23/01/2024.

Credit eligibility criteria, terms and conditions, fees and charges apply. The Capricornian Ltd. ABN 54 087 650 940. AFSL/Australian Credit Licence 246780.

*This comparison rate is based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

1 Application fees apply.

2 In branch staff assisted redraw fee of $30 applies.

3 An increase margin of 0.30% will apply where the loan application is for construction purposes requiring progress draws. On completion of the construction, the loan will convert to the relevant No Frills Owner Occupied interest rate or No Frills Investment Loan interest rate applicable to the loan amount at funding.

^ Lenders Mortgage Insurance (LMI) is required where the loan is greater than 80% of the value of the security property. This may vary based on the size and location of the property.

Consider the relevant Target Market Determination (TMD).

To be eligible you will need to be:

  • At least 18 years old
  • An Australian citizen or permanent resident

If you are seeking formal approval, whether applying online or in person you will need:

  • Two forms of ID
  • Three payslips (or other proof of income if you’re casual or self-employed)
  • Evidence of what you own (assets)
  • Evidence of what you owe (liabilities)

Following the assessment process, further information and documentation may be required.

Bring these items when you come to see us

Work out what repayments you may be able to afford by using a borrowing calculator. We use a range of criteria to decide how much you are eligible to borrow, but you also need to be comfortable that you can afford to pay the loan. We aim to help you achieve your goals without living above your means.

There are several factors that go into determining which home loan and interest rate is best for you. A variable interest rate will change along with the market. A fixed rate will lock in your repayments for a set period of time. There are benefits to both of these options, and we recommend that you obtain financial advice when contemplating this decision.

1. LVR: Loan to Value Ratio

LVR is the percentage of the property’s value, as assessed by the lender, that your loan equates to. For example, if the property you want to purchase is valued at $500,000, and you need to borrow $400,000 to pay for it, the loan is worth 80% of the property value, making your LVR 80%.

2. LMI: Lenders Mortgage Insurance

LMI is insurance that protects the bank or lender in case you can’t pay your residential mortgage.It’s usually paid by borrowers with an LVR higher than 80% – that is, borrowers with a deposit of less than 20%.

Chat with a local lending specialist

Tips to get in the know

Jake – First home buyer, Rockhampton

I appreciated everything Seona did for me during the home loan process.

Jake – First home buyer, Rockhampton