1, 2 Home Loan - Special Offer

As a 100% customer-owned institution, we’re committed to you and the communities we serve. That’s why we want to give our members the best start to home ownership.

So, we’ve crafted something special. A home loan that proves that small but mighty banks can achieve amazing things, too.

Looking to refinance and have equity in your home? We offer special rates for borrowers with loan to value ratios at 60% or below.

Purchasing a new home and need to borrow more than 80% loan to value ratio? We can help with that too.

When you sign up for our new 1, 2 home loan, you’ll get a rate 1% lower than our reference rate4 for the first 2 years. That means 2 years of savings on your home loan. 



Save on your home loan today

6.14 % pa  Variable interest rate <60%

6.96 % pa  Comparison rate

The perks are on the house

1% lower rate for the first two years1

  • 100% mortgage offset account
  • Free redraw
  • Loads of handy features, including internet banking, split loan and flexible payment options

Product Features:

Home Loan Features
Minimum Loan Amount : $300,000
Maximum Loan Amount : Up to 97% of value of property with LMI capitalised
Offset Account : Yes
Establishment Fee : 300
Legal Fees : At cost
Valuation fees : At cost
Repayment Frequency : Weekly, fortnightly, monthly
Additional Repayments Accepted : Yes
Interest Charges : Calculated daily, charged monthly
Redraw Facility : Yes
Annual Fee : $0
Monthly Fee : $0
Construction : No
Maximum Terms in Years : 30
Family Guarantee Option (First Home Owners) : Yes
Loan Top Ups and Variations : Yes
Early Repayment Without Penalty : Yes
Portability : Yes
Bridging : No
Amigo Credit Card : Yes
Special Rates Interest Rate (p.a.) Comparison Rate (p.a.)
Equal to or less than 60% LVR 6.14% pa 6.96% pa
Equal to or less than 70% LVR 6.34% pa 7.16% pa
Standard Rates Interest Rate Comparison Rate
Owner occupied- P&I LVR <80% 6.49% pa 7.31% pa
Owner occupied- P&I LVR >80% to <90% 6.59% pa 7.41% pa
Owner occupied- P&I LVR >90% 6.79% pa 7.61% pa
Owner occupied- IO LVR <80% 7.19% pa 8.00% pa
Owner occupied- IO LVR >80% to <90% 7.34% pa 8.15% pa
Owner occupied- IO LVR >90% 7.44% pa 8.25% pa


Read our most frequently asked questions below or view all our Home Loan FAQs.

A comparison rate is the interest rate of your loan, as well as the fees and charges involved in getting a loan. The comparison rate helps you figure out the real cost of the loan, so you can compare your options more clearly. Comparison rates are calculated by all Australian financial institutions and mortgage providers with a standardised formula, which is regulated by the Consumer Credit Code.

Geelong Bank is a mutual financial institution and as such is owned by its members, each one of whom is a shareholder. Yes, you must be a member of the Geelong Bank to have a loan.

Our preferred method is via automatic payroll deduction. However, you can arrange to make your loan repayments by direct debit from your savings or transaction account with Geelong Bank or another financial institution.

Achieving the dream of home ownership is one of the most exciting times in your life. However, it also comes with a big challenge – the time it takes to save a substantial deposit that lenders often require (typically 20% of the home’s purchase price). If you do not have a substantial deposit saved, your lender may be prepared to provide you a home loan with a smaller deposit (as little as 5%), by taking out Lenders Mortgage Insurance (LMI).

Lenders Mortgage Insurance (LMI) is an insurance policy that your lender takes out to protect itself against the risk that you (the borrower) default on your loan repayments and your lender is unable to recover the full outstanding loan amount.

Lenders Mortgage Insurance is arranged by your lender and the premium is a one-off cost your lender pays to us (the insurer) upon settlement of your property purchase. This cost is passed on to you (the borrower) by your lender, as a fee.

We understand that buying a property is a very important decision and it can be both challenging and stressful. Geelong Bank uses Genworth to provide Lenders Mortgage Insurance. To help you navigate through the home buying process refer to the following resources:


Documents & Forms


1,2 Home Loan


Speak to a consultant today.


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  • 1 Interest rate is 1% below the Geelong Bank Mutual Home Loan variable rate, (determined by loan to value ratio and repayments) for the first two years of the loan. At the end of two years, the interest rate reverts to the carded Geelong Bank Mutual Home Loan variable rate.
  • 2 Comparison rate is based on a secured loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • 3 Credit eligibility criteria, terms and conditions, fees and charges apply.
  • 4 Eligibility is limited to new borrowings for purchases of dwellings or land on which a dwelling is to be built and refinances from other financial institutions to Geelong Bank’s 1, 2 Home Loan. Geelong Bank may vary or end this offer at any time without notice. Excludes refinances of existing Geelong Bank home loans.