What should I expect during the Unloan refinancing process?

Refinancing with Unloan involves a 6-step process similar to applying for a new loan. It’s designed to be straightforward, but some users have reported issues with the digital process, so make sure to have all your documents ready.

Are there really no fees with Unloan?

Unloan claims to have no fees, but some customers have reported unexpected fees during refinancing or loan setup. It’s important to read the fine print and clarify any potential charges with their customer service.

What savings can I expect by refinancing to Unloan?

For a $500,000 loan, you could save about $198 per month, totaling $71,228 over 30 years compared to market rates. Savings vary based on loan size, so check your specific scenario.

Is the Unloan digital application process really seamless?

While the process is advertised to be completed in as little as 10 minutes, some users have experienced issues. Make sure you have all necessary information ready to avoid delays.

What’s the monthly repayment for a $600,000 loan with Unloan?

For a $600,000 loan at 5.89% over 30 years, your monthly repayment would be approximately $3,555, with total interest of $679,793.

Does Unloan charge discharge fees?

No, Unloan does not charge any discharge fees, which can save you money when you pay off your loan or refinance with another lender.

How reliable is Unloan’s customer service?

Customer service has been a common complaint among Unloan users, with reports of poor communication and unfulfilled promises. It’s advisable to keep records of all communications.

Can I redraw from my Unloan account without fees?

Yes, Unloan offers unlimited redraws with no fees, providing flexibility if you need to access extra funds.

UPDATED JUL 20, 2026

Unloan Home Loans: The 2026 Review

Secure competitive rates with Unloan's digital process in just 10 minutes. Watch out for unexpected fees during refinancing. Ready to simplify your home loan experience?

Bheja Verdict

Very Good

4.3/5

✓

Highly competitive rates across products

✓

No fees charged

Missing: no offset

Check Eligibility

Unloan Home Loans At a Glance

🏷️Best Rate Available

5.89%

Variable • Owner Occupied

💳Application Fee

Upfront fee applies

📅Monthly Fee

Ongoing service fee

Loan Range:$10K - $10.0M

LVR:Up to 90%

Products:4 variations

Offset Account:Not available

Current Unloan Home Loan Rates

Last updated: July 2026

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Average Rate: 6.04%
Best Rate: 5.89%
Monthly Payment: $2,962

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Unloan Home Loan
Unloan
Min 20% DepositRedraw
5.89%
Interest Rate
Variable
5.80%
Comparison Rate*
$2,962
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Unloan Home Loan
Unloan
10%-20% DepositRedraw
6.19%
Interest Rate
Variable
6.10%
Comparison Rate*
$3,059
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility

Unloan Product Statistics

Real-time insights and market analysis

Unloan offers 1 home loan product across 4 variations, the average variable rate is 6.12% p.a., the best available rate is 5.89% p.a..

Average Variable Rate

6.12%

4 products

Average Fixed Rate

—

0 products

Best Available Rate

5.89%

Variable • Owner Occupied • P&I

Total Products

4 variations

Fee Summary

Application Fee

Monthly Fee

Discharge Fee

Late Payment Fee

Key Features

Across Unloan's range: 4 offer redraw, 4 allow extra repayments.

Offset Account

—

Redraw Facility

100%

Extra Repayments

100%

Split Loan

—

Product Ranges

Unloan's interest rates range from 5.89% to 6.34% p.a., maximum LVR from 80% to 90%, loan amounts span $10,000 to $10,000,000.

Interest Rates5.89% — 6.34%

Max LVR80% — 90%

Loan Amount$10K — $10.0M

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 Unloan Compares

FEATURE	Unloan	ANZ	CommBank	Westpac	NATIONAL AUSTRALIA BANK
Best Variable Rate	5.89%BEST	6.39%	6.09%	5.99%	6.09%
Best Fixed Rate (3yr)	—	6.49%	6.49%	6.54%	6.49%
Application Fee	$0BEST	$0	$300	$0	$0
Monthly Admin Fee	$0BEST	$0	$10	$0	$0
Offset Account	—
Redraw Facility
Product Variations	4	128	71	173	147

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Bheja Insight: Unloan currently leads with the lowest variable rate among big 4 banks, making it a strong choice for borrowers seeking flexibility.

About Unloan

Company overview and contact information

Unloan is an online-only division of the Commonwealth Bank of Australia, one of the Big 4 banks in the country. As a major bank, Unloan operates exclusively online, offering a streamlined digital experience for home loan seekers. With its Australian Business Number (ABN) 48123123124, Unloan is a fully owned subsidiary of the Commonwealth Bank, ensuring robust backing and reliability.

Unloan provides a single home loan product with four variations, featuring competitive rates ranging from 5.89% to 6.34%. This offering is tailored for customers seeking a straightforward and efficient borrowing process. The digital application can be completed in as little as 10 minutes, appealing to tech-savvy individuals who value convenience and speed.

What sets Unloan apart is its commitment to a fee-free experience and award-winning service. The company holds an Australian Credit Licence (ACL 234945), ensuring compliance and trustworthiness. Unloan's reputation for a seamless, digital-only application process makes it a standout choice for modern homebuyers looking for simplicity and efficiency in their lending experience.

Company Details

Legal Name: Unloan

ABN: 48123123124

Ownership: Division of Commonwealth Bank of Australia

Parent Company: Commonwealth Bank of Australia

Key Features

Unloan offers a digital-first home loan experience with no ongoing fees and a unique annual loyalty discount, providing borrowers with flexibility and cost savings.

Unlimited Redraws

Access any additional repayments made ahead of schedule at any time without incurring fees. This feature provides flexibility in managing finances and allows borrowers to use funds when needed.

Additional Repayments

Make extra payments into your loan at any time to reduce interest costs. Unloan does not charge fees for additional repayments, enabling borrowers to pay off their loans faster and save on interest.

Annual Loyalty Discount

Receive a 0.01% p.a. discount on your loan rate every year, up to a maximum of 0.30% p.a. This ongoing discount rewards long-term borrowers and reduces the overall interest paid over the life of the loan.

No Ongoing Fees

Unloan offers a fee-free loan experience with no application, account, or exit fees. This reduces the overall cost of borrowing and simplifies financial management for borrowers.

Real-Time Payments

Make real-time payments to and from your loan account using a BSB and account number via the New Payments Platform (NPP). This feature enhances convenience and ensures timely transactions.

Digital-Only Application

Complete your home loan application online in as little as 10 minutes. The digital process includes instant credit checks and e-signing, providing a streamlined and efficient application experience.

Max LVR with LMI

Borrow up to 90% of the property value with Lenders Mortgage Insurance (LMI) for loans above 80% LVR. This allows borrowers to enter the property market with a smaller deposit.

Secure Loan Management

View, manage, and change your loan securely online. This feature provides borrowers with control and convenience, allowing them to manage their loan from anywhere.

Fees & Charges

Unloan offers a straightforward fee structure with no application, account, or exit fees, promoting transparency for borrowers. However, some users report unexpected fees during refinancing or loan setup.

Fee Type

Amount

Description

Application Fee

No application fee is charged for home loans, enhancing affordability for borrowers.

Account Fee

$0/year

Unloan does not charge any ongoing account fees, reducing the overall cost of maintaining a loan.

Exit Fee

No exit fees are applied, allowing borrowers to refinance or pay off their loan without additional costs.

Discharge Fee

Unloan does not charge any discharge fees, simplifying the process of closing a loan.

Hidden Fees

Variable

Some users report unexpected fees during refinancing or loan setup, despite claims of no fees.

Loyalty Discount Variability

Variable

Concerns exist about transparency and consistency in interest rate adjustments for existing customers.

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

Eligibility Criteria

Unloan offers home loans to individuals aged 18 and over, focusing on accessibility for Australian residents with a straightforward digital application process.

Must be at least 18 years old

Must be an Australian citizen or permanent resident

Valid Australian ID required

Proof of income is necessary

Loan-to-Value Ratio (LVR) must be between 80% and 90%

Loan amounts range from $10,000 to $10,000,000

Lenders Mortgage Insurance (LMI) required for LVR above 80%

Must be a natural person, not a legal entity

Proof of expenses required

Important Notes

LMI is mandatory for loans with an LVR above 80%, potentially affecting interest rates.
Digital application process can be completed in as little as 10 minutes.
Interest rates may vary, especially for LVRs between 80.01% and 90%.

Unloan Home Loan Pros & Cons

Our expert take on whether Unloan is right for you

Pros

+Competitive interest rates below market average
+No ongoing fees and unlimited redraws
+Digital application process completed in as little as 10 minutes
+Annual loyalty discount increasing up to 0.30% p.a.

Cons

–Limited product range
–Reports of poor customer service and communication
–Potential hidden fees during refinancing or setup

Best For

Tech-savvy borrowers comfortable with online processes
Homeowners looking to make additional repayments without fees
Borrowers seeking a low-rate, fee-free experience

Not Ideal For

Borrowers needing extensive customer service support
Those looking for a wide range of loan products

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Bheja Verdict: Unloan offers competitive rates and a digital-first experience, ideal for tech-savvy borrowers seeking savings without the hassle of fees.

Expert Secrets (Why Use Us?)

Insider knowledge about Unloan that most borrowers don't know

LMI Cost Examples

15% ($50,000) deposit, 95% LVR on a $1,000,000 loan: ~$30,000 - $40,000 LMI

210% ($100,000) deposit, 90% LVR on a $1,000,000 loan: ~$16,000 - $25,000 LMI

315% ($150,000) deposit, 85% LVR on a $1,000,000 loan: ~$7,000 - $12,000 LMI

420%+ ($200,000+) deposit, 80% or less LVR on a $1,000,000 loan: $0 - LMI not required

Fee Waivers

No application fees for home loans, making it more affordable to start your loan journey.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Contact Unloan: Call Unloan at 1300 630 000 during support hours to initiate the discharge process. (Tip: Contact during weekdays for quicker assistance.)

Provide Account Details: Supply necessary account details and identification to verify your loan account. (Tip: Have your loan account number and identification ready.)

Complete Required Forms: Fill out any discharge forms as directed by Unloan support. (Tip: Ensure all information is accurate to avoid delays.)

Clear Outstanding Payments: Make sure all outstanding loan payments are cleared before proceeding. (Tip: Check your loan balance online or with a representative.)

Confirm Discharge Completion: Follow up with Unloan to confirm that the discharge has been processed. (Tip: Request a confirmation email or letter for your records.)

Processing Times

Discharge Process10-14 business days

💡

Pro Tips

Initiate the discharge process at least 2 weeks before your desired settlement date.
Ensure all loan payments are up to date to avoid delays.
Keep a record of all communications with Unloan for reference.
Request a written confirmation of discharge for your records.
Contact Unloan during support hours for faster service.

Unloan Mortgage Calculator

Estimate your repayments using current Unloan home loan rates

Over 30 years, borrowing $480,000 at 5.89%, total cost including interest and known fees could be around $1,023,834. Estimated monthly repayment: $2,843.98.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,023,834

Estimated repayment

$2,843.98

monthly repayment

Amount you borrow: $480,000 · At 5.89% · Variable — can change with the market

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: $543,834
Upfront fees: $0
Ongoing fees: $0
Estimated total cost: $1,023,834

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 Unloan is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Unloan typically approves loans within hours or a few days, thanks to their streamlined digital application process.