Fixed-rate mortgages in AU

What is a 1 year fixed open mortgage?

In Australia, a 1-year fixed open mortgage refers to a type of home loan where the interest rate is fixed for a period of one year, and it offers flexibility in terms of making additional repayments without penalties or restrictions during that fixed term.

Unlike traditional fixed-rate mortgages, which may restrict additional repayments or charge penalties for early repayment, an open mortgage allows borrowers to make extra repayments without incurring fees.

Borrowers have the flexibility to pay off the mortgage faster by making lump-sum payments or increasing regular repayments during the fixed term, which can help reduce the total interest paid over the life of the

At the end of the 1-year fixed term, borrowers typically have the option to renew the fixed rate, switch to a variable rate, or consider a different fixed term based on prevailing market conditions and personal financial goals.

What is the current 2 year fixed mortgage rate?

The year fixed mortgage rates in Australia vary among lenders but for most proposals they range within 5% to 7%. 

Is a 3 year fixed mortgage a good idea?

It depends on your financial situation, market conditions, and personal preferences. A 3-year fixed mortgage provides stability by locking in your interest rate for three years, protecting you from potential rate increases during this period. This makes budgeting easier as your repayments remain consistent.

But if interest rates decrease during your fixed term, you won't benefit from the lower rates until your fixed period ends. Exiting a fixed-rate mortgage before the term ends can incur significant break costs or early repayment fees, which can be expensive if your circumstances change.

Home loan calculations for 20 years (example)

Who offers 5-year fixed home loan rates?

You can apply for such a loan to:

• ANZ
• Commonwealth Bank
• BOQ (Bank of Queensland)
• Westpac Bank

Can you get 10 year fixed rate mortgages in Australia?

Yes, 10-year fixed rate mortgages are available in Australia, but they are less common compared to shorter fixed terms like 1, 2, 3, or 5 years. These long-term fixed rates can provide stability and predictability for a decade, making them attractive to some borrowers who prefer certainty over their mortgage repayments.

Do Australian banks offer 30 year fixed-rate mortgages?

30-year fixed-rate mortgages are not commonly offered by traditional lenders.

See the similar FAQs about Australian banks: 

• Beyond Bank broker contact number
• Borrowing capacity at Westpac: where to find calculator
• CBA property report: how to get?
• CBA refinance rebate
• Commbank cashback for home loans

Details of companies offering the financial services:

ANZ Bank

Head office’s address: 833 Collins Street

Contact center: 13-13-14

Phone: 61-3-9683-9999

Mail address: 833 Collins Street Docklands, Melbourne

Web-site: http://www.anz.com

Swift code: ANZBAU3M

Financial institution code: ANZ

Stock code: ANZ

ABN: 11 005 357 522

BSB: 015-891

Bank of Melbourne

Head office’s address: 525 Collins Street

Contact center: 61-132266

Phone: 61-3-9982-4186

Mail address: 525 Collins Street Melbourne

Web-site: https://www.bankofmelbourne.com.au/

Swift code: SGBLAU2S

ABN: 33 007 457 141

BSB: 193-879

Bank of Melbourne

Head office’s address: 525 Collins Street

Contact center: 61-132266

Phone: 61-3-9982-4186

Mail address: 525 Collins Street Melbourne

Web-site: https://www.bankofmelbourne.com.au/

Swift code: SGBLAU2S

ABN: 33 007 457 141

BSB: 193-879

Bank of Queensland

Head office’s address: 100 Skyring Ter

Contact center: 61-1300-557-272

Mail address: 100 Skyring Ter L 6, Newstead, Queensland, 4006

Web-site: http://www.boq.com.au/

Stock code: BOQ

ABN: 32 009 656 740

BSB: 124-001

Bank of Sydney

Head office’s address: 62 Pitt Street

Contact center: 61-13-95-00

Phone: 61-2-8262-9191

Mail address: 62 Pitt Street, Sydney, NSW

Web-site: http://www.banksyd.com.au

Swift code: LIKIAU2S

ABN: 44 093 488 629

BSB: 942-202

Bank of Sydney

Head office’s address: 62 Pitt Street

Contact center: 61-13-95-00

Phone: 61-2-8262-9191

Mail address: 62 Pitt Street, Sydney, NSW

Web-site: http://www.banksyd.com.au

Swift code: LIKIAU2S

ABN: 44 093 488 629

BSB: 942-202

Bankwest

Head office’s address: 300 Murray St

Contact center: 61-131719

Phone: 61-8-9449-2840

Mail address: Bankwest PO Box E237 Perth WA 6841

Web-site: http://www.bankwest.com.au/

Swift code: BKWAAU6P

ABN: 48 123 123 124

BSB: 325-185

Bankwest

Head office’s address: 300 Murray St

Contact center: 61-131719

Phone: 61-8-9449-2840

Mail address: Bankwest PO Box E237 Perth WA 6841

Web-site: http://www.bankwest.com.au/

Swift code: BKWAAU6P

ABN: 48 123 123 124

BSB: 325-185

CommBank

Head office’s address: 201 Sussex Street

Contact center: 13-22-21

Phone: 61-2-8055-4001

Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street

Web-site: https://www.commbank.com.au/

Swift code: CTBAAU2S

Stock code: CBA

ABN: 48 123 123 124

Gateway Bank

Head office’s address: 68 York St

Contact center: 1300 302 474

Phone: +61 2 9307 4200

Mail address: GPO BOX 3176 SYDNEY NSW 2001

Web-site: https://www.gatewaybank.com.au/

Swift code: ASLLAU2CGTW

ABN: 47 087 650 093

BSB: 676-000

G&C Mutual Bank

Head office’s address: 201 Elizabeth Street

Contact center: 1-300-364-400

Phone: 61-2-9307-5400

Mail address: PO Box A253, Sydney South NSW 1235

Web-site: http://www.gcmutualbank.com.au/

Financial institution code: SGE

ABN: 72 087 650 637

BSB: 659-000

G&C Mutual Bank

Head office’s address: 201 Elizabeth Street

Contact center: 1-300-364-400

Phone: 61-2-9307-5400

Mail address: PO Box A253, Sydney South NSW 1235

Web-site: http://www.gcmutualbank.com.au/

Financial institution code: SGE

ABN: 72 087 650 637

BSB: 659-000

Geelong Bank

Head office’s address: 107 Gheringhap Street

Contact center: 1300-361-555

Mail address: PO Box 1130 Geelong VIC 3220

Web-site: https://geelongbank.com.au/savings-loans/home-loans/1-2-home-loan/?gclid=EAIaIQobChMI54i5ytaa_wIVi9SyCh2KPAJ_EAAYAiAAEgL0v_D_BwE

Geelong Bank

Head office’s address: 107 Gheringhap Street

Contact center: 1300-361-555

Mail address: PO Box 1130 Geelong VIC 3220

Web-site: https://geelongbank.com.au/savings-loans/home-loans/1-2-home-loan/?gclid=EAIaIQobChMI54i5ytaa_wIVi9SyCh2KPAJ_EAAYAiAAEgL0v_D_BwE

IMB Banking

Head office’s address: 47 Burelli St

Contact center: 61-133-462

Mail address: 47 Burelli St, Wollongong, NSW, 2500

Web-site: https://www.imb.com.au

Swift code: IMTIAU21

BSB: 641-800

ING Bank

Head office’s address: 60 Margaret St

Contact center: 61-2-9028-4077

Mail address: 60 Margaret St, Sydney NSW 2000

Web-site: http://www.ingdirect.com.au/

Swift code: INGBAU2S

Financial institution code: ING

ABN: 24 000 893 292

BSB: 923-100

NAB

Head office’s address: 800 Bourke Street

Contact center: 13-22-65

Phone: 61-3-8566-7023

Mail address: Level 4, 800 Bourke Street, Docklands, VIC

Web-site: http://www.nab.com.au/

Swift code: NATAAU3303M

Financial institution code: NAB

Stock code: NAB

BSB: 086-027

Queensland Country Bank Limited

Head office’s address: 333 Ross River Road

Contact center: 1800 075 078

Phone: +61 7 4412 3526

Mail address: PO Box 679 Aitkenvale QLD 4814

Web-site: https://www.queenslandcountry.bank/

Swift code: QCCNAU41XXX

ABN: 77 087 651 027

BSB: 654 000

Queensland Country Bank Limited

Head office’s address: 333 Ross River Road

Contact center: 1800 075 078

Phone: +61 7 4412 3526

Mail address: PO Box 679 Aitkenvale QLD 4814

Web-site: https://www.queenslandcountry.bank/

Swift code: QCCNAU41XXX

ABN: 77 087 651 027

BSB: 654 000

St. George Bank

Head office’s address: 275 Kent Street

Contact center: 13-33-30

Phone: 61-2-9553-5333

Mail address: St.George Bank Locked Bag 1 Kogarah NSW 1485

Web-site: http://www.stgeorge.com.au/

Swift code: SGBLAU2S

Financial institution code: STG

Stock code: SGB

ABN: 33 007 457 141

BSB: 112-908

Westpac Bank

Head office’s address: 275 Kent Street

Contact center: 13-20-32

Phone: 61-2-9155-7700

Mail address: 275 Kent Street, Sydney, NSW

Web-site: https://www.westpac.com.au/

Swift code: WPACAU2S

Financial institution code: WBC

Stock code: WBC

ABN: 33 007 457 141

BSB: 032-063