Unloan has one business, and one business only: Home loans. The digital lender was launched by Australia’s largest bank, CommBank, in 2022.

Setting it apart from its competition is a discount it offers on its home loan interest rates – it increases by one basis point each year. So, by the time a mortgage’s thirtieth year rolls around, its holder will be realising a 30 basis point discount on their interest rate.

However interest rates are subject to fluctuate, so the likelihood of your interest rate resembling anything from 30 years prior is slim to none.

Unloan also promises it won’t charge fees to borrowers; there are no application, account, change, or exit fees. The lender also boasts an application process that takes mere minutes. 

Home loans

Available via Unloan?

Owner-occupier home loan


Investor home loan


Fixed rate home loans

Variable rate home loans


Low doc home loan

Green home loans

Construction loans

95% LVR home loans

Bridging loans

Reverse mortgages 

Home loans with offset accounts

Home loans with redraws

Cashback offers

Fully digital home loans

All you need to know about Unloan home loans

When Unloan first launched, it only offered home loans to refinancers. However, those days are now behind it and it can now offer mortgages to new owner-occupiers and investors. 

The lender still only offers variable rate home loans, though that might change in the future. 

Its home loan comes with a fully accessible redraw facility, but no offset account. It also doesn’t offer interest only repayments but notes they could be made available in the future.

Unloan offers mortgages to those with equity of at least 20% – meaning a borrower must have an 80% loan-to-value ratio (LVR) to be eligible for a home loan through the lender. It will offer loans as small as $10,000. A person can also hold multiple home loans with the lender, as long as their total value doesn’t surpass $10 million.

They must also be at least 18 years old, have an Australian drivers licence or passport and an Australian residential address, and earn PAYG or self-employed income.

The lender doesn’t offer construction loans (yet) and won’t accept first home owner grants as part of a person’s deposit. It also doesn’t participate in the Home Guarantee Scheme or any other government home-buyer assistance schemes.