UPDATED JUN 22, 2026

Unity Bank Home Loans: The 2026 Review

Unlock savings with our 5.80% p.a. variable rate, well below market average. Redraw facility available for extra repayments. Ready to save on your next home loan?

Bheja Verdict

Very Good

4.2/5
✓
Highly competitive rates across products
✓
Wide range of loan options
Check Eligibility

Unity Bank Home Loans At a Glance

🏷️Best Rate Available

5.80%

Variable • Owner Occupied

💳Application Fee

$200

Upfront fee applies

📅Monthly Fee

$0

Ongoing service fee

Loan Range:$0 - $100.0M
LVR:Up to 96%
Products:45 variations
Offset Account:Available

Current Unity Bank Home Loan Rates

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Average Rate
6.00%
Best Rate
5.80%
Monthly Payment
$2,934
Advanced
  • Unity Bank

    Essential Worker Home Loan - Owner Occupier

    Unity Bank

    Min 5% DepositOffsetRedraw
    5.80%
    Interest Rate
    Variable
    5.85%
    Comparison Rate*
    $2,934
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $200    + other fees may apply
  • Unity Bank

    QLD BOOST TO BUY

    Unity Bank

    Min 20% DepositOffsetRedraw
    5.90%
    Interest Rate
    Variable
    5.93%
    Comparison Rate*
    $2,966
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Discharge
    $300    + other fees may apply
  • Unity Bank

    Vic Homebuyer Fund

    Unity Bank

    Min 20% DepositOffsetRedraw
    5.90%
    Interest Rate
    Variable
    5.93%
    Comparison Rate*
    $2,966
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Discharge
    $300    + other fees may apply
  • Unity Bank

    Australian Government 5% Deposit Scheme

    Unity Bank

    Min 4% DepositOffsetRedraw
    5.90%
    Interest Rate
    Variable
    5.95%
    Comparison Rate*
    $2,966
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $200
    Discharge
    $300    + other fees may apply
  • Unity Bank

    First Home Buyer Loan - Owner Occupied - SO

    Unity Bank

    Min 5% DepositOffsetRedraw
    5.90%
    Interest Rate
    Variable
    5.95%
    Comparison Rate*
    $2,966
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $200    + other fees may apply
  • Unity Bank

    Momentum Home Loan 60-80LVR - Owner Occupier - Variable - P&I SO

    Unity Bank

    20%-40% DepositOffsetRedraw
    6.09%
    Interest Rate
    Variable
    6.14%
    Comparison Rate*
    $3,027
    per month
    Principal And Interest
    Visit lender’s site
  • Unity Bank

    Advantage Home Loan - Owner Occupied - Variable P&I - Without Offset

    Unity Bank

    Min 5% DepositRedraw
    6.09%
    Interest Rate
    Variable
    6.14%
    Comparison Rate*
    $3,027
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $200    + other fees may apply
  • Unity Bank

    Advantage Home Loan - Owner Occupied - Variable P&I - With Offset

    Unity Bank

    Min 5% DepositOffsetRedraw
    6.19%
    Interest Rate
    Variable
    6.24%
    Comparison Rate*
    $3,059
    per month
    Principal And Interest
    Visit lender’s site
    Fees:
    Application
    $200    + other fees may apply
  • Unity Bank

    Momentum Home Loan 80LVR - Owner Occupier - Variable - P&I SO

    Unity Bank

    5%-20% DepositOffsetRedraw
    6.19%
    Interest Rate
    Variable
    6.24%
    Comparison Rate*
    $3,059
    per month
    Principal And Interest
    Visit lender’s site

* Comparison rate is calculated on a loan amount of $150,000 over 25 years. Rates and fees are subject to change. Terms and conditions apply.

+ Only key fees (application, discharge, ongoing) are displayed - other fees such as redraw, administration, and processing fees may also apply.

Unity Bank Product Statistics

Real-time insights and market analysis

Unity Bank offers 45 home loan products across 45 variations, the average variable rate is 6.54% p.a., the best available rate is 5.80% p.a..

Average Variable Rate

6.54%

25 products

Average Fixed Rate

6.66%

20 products

Best Available Rate

5.80%

Variable • Owner Occupied • P&I

Total Products

45

45 variations

Fee Summary

Application Fee

$200

Monthly Fee

$0

Discharge Fee

$300

Late Payment Fee

$50

Key Features

Across Unity Bank's range: 18 include an offset account, 45 offer redraw, 43 support split loans.

Offset Account
40%
Redraw Facility
100%
Extra Repayments
—
Split Loan
96%

Product Ranges

Unity Bank's interest rates range from 5.80% to 9.25% p.a., maximum LVR from 40% to 96%, loan amounts span $0 to $100,000,000.

Interest Rates5.80% — 9.25%
Max LVR40% — 96%
Loan Amount$0 — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Unity Bank Compares

FEATUREUnity BankDarling Downs BankBroken Hill BankAussie ElevateTiimely Home
Best Variable Rate
5.80%BEST
6.39%
5.94%
6.09%
5.95%
Best Fixed Rate (3yr)
6.30%BEST
—
—
6.49%
6.39%
Application Fee
$200
$600
$855
$199
$0
Monthly Admin Fee
$0BEST
$0
$0
$0
$0
Offset Account
Redraw Facility
Product Variations
45
45
13
96
102
💡

Bheja Insight: Unity Bank currently leads with the lowest variable rate among other lenders, making it a strong choice for borrowers seeking flexibility.

About Unity Bank

Company overview and contact information

Unity Bank is a member-owned financial institution headquartered in Haymarket, NSW. With a strong focus on community and member benefits, Unity Bank operates through both branches and online platforms, providing accessible financial services. As a holder of both an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL), Unity Bank is committed to maintaining high regulatory standards.

Offering a diverse range of 45 home loan products, Unity Bank caters to a variety of financial needs with interest rates ranging from 5.80% to 9.25%. Their home loan options are designed to accommodate different customer profiles, ensuring flexibility and choice for borrowers. Unity Bank's member-owned structure means profits are reinvested to benefit members, rather than external shareholders.

What sets Unity Bank apart is their dedication to member benefits, including special programs like fleet discounts for new cars and low-cost fixed rate loans for vehicles up to five years old. This focus on value and community support distinguishes Unity Bank in the competitive financial landscape, providing a unique advantage for their members.

Company Details

Legal Name: Unity Bank
ABN: 72087650637
Headquarters: Haymarket, NSW
Ownership: Member-owned
AFSL: 238311

Key Features

Unity Bank offers a range of home loan features designed to provide flexibility, cost savings, and convenience to Australian borrowers.

Repayment Redraw Facility

Unity Bank allows borrowers to access additional repayments through a redraw facility, provided they are at least one full repayment ahead. Borrowers can redraw amounts of $100 or more easily via the Unity Bank App or Online Banking, offering financial flexibility and easy access to funds when needed.

24/7 Digital Access

Unity Bank provides 24/7 access to your home loan account through internet banking and a mobile app. This ensures borrowers can manage their loans anytime, anywhere, enhancing convenience and control over their financial management.

Guarantor Support

Unity Bank offers the option for a guarantor to provide additional security for the loan. This feature enables lending in cases where borrowers may not qualify for the full amount on their own, potentially allowing access to better loan terms.

Fixed Rate Continuation

After the initial fixed rate term, Unity Bank allows the loan to continue as a fixed rate for the same period, unless the borrower opts to change the rate type. This provides certainty in repayments and the flexibility to adjust as needed.

Construction Loan Option

Unity Bank loans can be utilised for building or construction purposes, supporting borrowers in financing new builds or renovations. This feature is beneficial for those looking to expand or improve their property portfolio.

Extra Repayments

Borrowers can make extra repayments of up to $10,000 per annum on Unity Bank loans. This feature allows for faster loan repayment and potential interest savings, offering financial flexibility.

No Establishment Fee

Unity Bank waives the establishment fee on select home loan products, reducing the initial cost of borrowing and providing cost savings for new borrowers.

Flexible Repayment Options

Unity Bank offers flexible repayment schedules, allowing borrowers to choose from weekly, fortnightly, or monthly payments. This adaptability helps borrowers manage their cash flow effectively.

Mortgage Offset Account

Linking a Mortgage Offset Account to a Unity Bank home loan reduces the balance on which interest is charged, potentially saving significant amounts on interest payments. For example, a $100,000 offset can save $483 per month.

Fees & Charges

Unity Bank offers a range of home loan products with various fees, ensuring transparency in costs associated with property valuation, loan establishment, and discharge processes.

Fee Type
Amount
Description
Valuation Fee
Variable
Charged to cover the cost of obtaining a valuation report on your property or the property being purchased.
Stamp Duty (Mortgage)
Variable
A tax imposed by the state government on written documents and certain transactions.
Re-documentation Fee
$250
Charged if you request changes after your Loan Offer & Contract documentation has been provided but before loan settlement.
PEXA Service Fee
Variable
Covers third-party costs associated with the establishment of your mortgage.
Mortgage Discharge Fee
$300
Charged if you repay your loan and request us to discharge your mortgage, including our costs and any external costs.
Default Notice Fee
$50
Charged if you default on your repayments and we issue a default notice.
Security Guarantor Fee
$200
Payable if a guarantor is listed on the loan schedule.
Loan Switch Fee
$200
Charged to switch your loan account from one type to another.
Consent Fee
$300
Charged for consent to subdivide, substitute, lease, cross-collateralise, or any other matter requiring loan reassessment.
Loan Establishment Fee - Mortgage Loan (Top Up)
$200
Charged to vary the value of an existing home loan.
Mortgage Discharge - Registration Fee
Variable
Covers third-party costs associated with the discharge of your mortgage.
Mortgage Administration Fee
$150
Charged if you or your legal representative request any loan documents during the life of the loan.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Unity Bank offers home loans to a diverse range of borrowers, including first-time homebuyers and property investors, with specific eligibility criteria to ensure accessibility and suitability.

Applicants must be at least 18 years old.
Must be a permanent resident of Australia.
Proof of employment and income is required.
Must have a satisfactory credit history as per Unity Bank's assessment.
Loan-to-value ratio (LVR) must not exceed 96%.
Available for owner-occupied properties and property investors only.
Applicants must use and occupy the property as their principal place of residence, except for investment properties.
Eligibility depends on the property's value and location, as determined by Unity Bank.

Important Notes

  • Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
  • Special programs are available for first home buyers, including shared equity schemes.
  • Unity Bank offers specific products for essential workers with unique eligibility criteria.
  • Applicants must meet additional criteria for specific state-based programs, such as the Victorian Homebuyer Fund.

Unity Bank Home Loan Pros & Cons

Our expert take on whether Unity Bank is right for you

Pros

  • +Rates below market average, offering significant savings
  • +Repayment redraw facility available
  • +24/7 access via internet banking and mobile app
  • +Guarantor option for additional loan security

Cons

  • –Complex loan application process with excessive documentation
  • –Reliance on SMS for verification may be inconvenient

Best For

  • Borrowers seeking lower-than-average interest rates
  • Individuals needing a guarantor for additional security
  • Home builders or those looking for construction loans

Not Ideal For

  • Borrowers who prefer a streamlined application process
💡

Bheja Verdict: Unity Bank offers competitive home loan rates below the market average, making it a cost-effective choice for many borrowers.

Expert Secrets (Why Use Us?)

Insider knowledge about Unity Bank that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000, increasing to $12,500 at 90% LVR, and $21,000 at 95% LVR.
2A $750,000 loan incurs $9,000 in LMI at 85% LVR, $18,750 at 90% LVR, and $31,500 at 95% LVR.
3For a $1,000,000 loan, LMI is $12,000 at 85% LVR, $25,000 at 90% LVR, and $42,000 at 95% LVR.
4LMI waivers are not available, so borrowers should plan accordingly to manage these costs.

Fee Waivers

Currently, there are no specific fee waivers available, but always inquire directly as offers can change.

Offset Benefits

A $10,000 offset can save you $48 per month, totaling $576 annually.
A $25,000 offset results in $121 monthly savings, or $1,452 annually.
With a $50,000 offset, you save $242 monthly, amounting to $2,904 per year.
A $100,000 offset can lead to $483 monthly savings, totaling $5,796 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps
1
Contact Unity Bank: Call Unity Bank's customer service at 1300 364 400 to initiate the discharge process and request the necessary forms. (Tip: Ensure you have your loan account details ready for a smoother process.)
2
Submit Discharge Request Form: Complete and submit the discharge request form provided by Unity Bank. (Tip: Double-check all information for accuracy to avoid delays.)
3
Pay Discharge Fees: Pay the required discharge fee of $300, along with any additional third-party costs. (Tip: Confirm the total amount with Unity Bank to avoid unexpected charges.)
4
Book Settlement Date: Coordinate with Unity Bank and any involved parties to schedule the settlement date. (Tip: Aim to schedule the settlement at least two weeks in advance to ensure availability.)
5
Final Confirmation: Receive confirmation from Unity Bank that the discharge has been processed and finalized. (Tip: Keep a copy of all correspondence and confirmations for your records.)

Processing Times

Discharge Process10-15 business days
💡

Pro Tips

  • Request the discharge at least two weeks before your desired settlement date to avoid delays.
  • Clarify all fees upfront to prevent unexpected costs during the process.
  • Contact Unity Bank's discharge team for any questions or clarifications.
  • Review your loan agreement for any early repayment fees or conditions.
  • Ensure all outstanding payments are cleared before initiating the discharge.

Unity Bank Mortgage Calculator

Estimate your repayments using current Unity Bank home loan rates

Over 30 years, borrowing $480,000 at 5.80%, total cost including interest and known fees could be around $1,014,359. Estimated monthly repayment: $2,816.41.

Estimated total cost over 30 years
$1,014,359
Estimated repayment
$2,816.41
monthly repayment
Amount you borrow: $480,000 · At 5.80% · Variable — can change with the market

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Application fee
$200
Document fee
$250
Total ongoing fees (30 yrs)
$0
How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow
$480,000
Total interest
$533,909
Upfront fees
$450
Ongoing fees
$0
Estimated total cost
$1,014,359
  • These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
  • Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
  • Split loans and offset accounts aren't included in this estimate.
  • For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Unity Bank is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Conditional approval typically takes 5-7 business days. Full approval requires an additional 3-5 business days, so plan for about two weeks overall.

4.8(4 reviews)

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