Fair Rates. Low Fees. Nice People.

We have loans for people who want to live in their home, and pay it off fast so they can own it completely.

You won’t need to call us to negotiate a great rate. And, we won’t charge you most of the fees you’ll find at other lenders.

All this, at an ethical bank where you can talk to actual humans.

Up Home Variable Rate Loan

With a variable rate, the interest you’ll pay will match market conditions so your repayments might go up or down over time. Variable rates involve a little more fluctuation and risk. The rate advertised here is where you’ll start your journey.

Up home loans are simple, transparent and negotiation-free. There’s no secret offer you could be on if only you were mates with the right person or knew the magic handshake. And if the rate you’re on doesn’t feel right? Leave our variable loans any time, no hard feelings, no discharge fee.

Rates last updated on 11 February, 2026.

Up Home Fixed Term Loan

With a fixed term loan, you tell us how long you’d like to lock in your rate for. Then you can be sure what your repayments will be over that period of time.

Fixed rates offer certainty about what you’ll need to pay. They can offer protection against potential future rate increases (but, you also won’t benefit if rates go down).

Before the end of a fixed term period, we’ll get in touch and see if you want to ‘re-fix’ your loan. If you don’t, you’ll roll onto the current variable rate.

Fees (who needs them, not us)

Bank ads have to show both an annual interest rate and a comparison rate to make it easier for you to see the rate you'll actually pay once bank fees and charges are factored in. With Up, our comparison and variable rate is the same because we have so few fees.

No application or setup fees.
No monthly or annual bank fees.
No redraw fees.
No discharge fees: leave us when you like outside of a fixed term.
We also pay the first $400 in our valuation costs, which covers most properties.

But wait, you can also...

Get started with a 10% deposit.
Spread your loan over a 30 year term if you need.
Make unlimited additional repayments on a variable loan or up to $30k for fixed rate loan.
Have up to 50 free offset accounts (more on why that's awesome here).

Just so you know

There are always other costs involved in buying a home and transferring the title, like stamp duty and title registration. You also may come across other purchasing and refinancing costs when buying a home, like conveyancers and building inspections.

If you already have a home loan with someone else and want to refinance to Up, your old bank might also charge you discharge fees.

When you’re ready to finalise your loan, we have to collect some of these fees from you and pass them on to the relevant parties.

The Finer Details

Home loan words can be… a lot. Check out our plain English guide if anything on this page could use a little explanation.

Our home loan rates are current as of today, available to all home loans approved on or after this date, and they can change. Our comparison rates are calculated for a $150,000 loan over 25 years. They factor in our fees associated with applying for the loan and our ongoing fees. Our fixed loans roll to a variable principal and interest rate (currently 5.45% p.a.) at the end of the fixed term.
Terms, conditions, fees, charges and lending criteria apply to all Up Home loans. You can generate a key facts sheet for Up home loans.
Credit provided by Bendigo and Adelaide Bank Limited ABN 11 068 049 178, AFSL / Australian Credit Licence 237879.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Up home loans are simple, transparent and negotiation-free. There’s no secret offer you could be on if only you were mates with the right person or knew the magic handshake. And if the rate you’re on doesn’t feel right? Leave our variable loans any time, no hard feelings, no discharge fee.
Up Home has one simple number for both comparison and annual rates. But what does that mean?
Every lender’s combination of fees and interest rates is different. A really low rate with high fees might end up costing you more! The comparison rate is a way of combining fees and interest into one number you can, you guessed it, compare.
The formula for calculating a comparison rate is regulated by the Consumer Credit Code, and anyone who sells home loans has to use the same formula. That way you can compare one comparison rate against another, and not get ripped off.
Since we don’t charge most of the fees that can raise the comparison rate over the annual rate, we display one number for both rates.
It's important to be aware though that some government fees and other costs can still apply to your home loan.
Our indicator is just a simple guide. A fun guide. Definitely nothing serious like a quote, credit approval, or offer of credit. It's absolutely not advice on how much you can or should borrow, which product you should choose, the product features or options, what sounds good for dinner or what to name your new pet budgie.
It's designed to give you an estimate of how much it'd cost to make regular repayments on a loan based on the property value you entered, our current variable home loan interest rates (5.45% per annum, which for the purposes of working this stuff out, we assume will stay the same for the whole life of the loan, but it most likely won't because interest rates change regularly at every bank). Variable interest rates are by their nature subject to change — it's right there in the name. We also offer fixed rates. Check ’em out.
We also use HEM (Household Expenditure Measure), and assume that you'd pay off your loan over 30 years. You could go faster if you wanted to. And we assume you'll need to borrow 80% of value of the property (as a loan to value ratio, or LVR in bank speak).
That's a lot of assumptions — this is just a helpy thing you can use to ballpark out costs. We'll work with you on a real assessment when you begin an application, taking into account specifics of the property and loan type you want, your personal details, applicable fees and your finances.
We're responsible lenders, so when we get to that point we'll likely calculate your borrowing power using the higher of your estimated expenses or your HEM (Household Expenditure Measure — an Australian average expenditure benchmark). Your real circumstances may be different, and then your borrowing power would likely be different too. For deposits below 20% you'll also need Lender's Mortgage Insurance (LMI).