The Mutual Bank
Budget Home Loan
The Mutual Bank · residential mortgages
Provider last updated this product 2026-08-13.
Go to provider
You'll complete your application on
The Mutual Bank's website. Confirm the rate and fees with them
before applying.
A low cost home loan with a competitive variable interest rate.
As published by the lender
- Headline rates - from 5.79% to 7.48%The lender publishes several headline rates; which one applies is the lender's decision.
Lending rates
| Type | Rate | Comparison^ | Purpose | Repayment | Fixed term | Applies to | Interest |
|---|---|---|---|---|---|---|---|
| VARIABLE | 6.69% | 6.69% | INVESTMENT | PRINCIPAL AND INTEREST | - | - | calculated daily |
| LVR up to 59.99%. | |||||||
| VARIABLE | 6.69% | 6.69% | INVESTMENT | PRINCIPAL AND INTEREST | - | - | calculated daily |
| LVR 60% to 79.99%. | |||||||
| VARIABLE | 7.48% | 7.48% | INVESTMENT | PRINCIPAL AND INTEREST | - | - | calculated daily |
| LVR 80% to 90%. | |||||||
| VARIABLE | 5.79% | 5.79% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | - | calculated daily |
| LVR up to 59.99%. | |||||||
| VARIABLE | 5.79% | 5.79% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | - | calculated daily |
| For LVR 60% to 79.99%. | |||||||
| VARIABLE | 7.08% | 7.08% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | - | calculated daily |
| For LVR 80% to 95%. | |||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| CHEQUE_ISSUING_FEE | EVENT | $2.50 | Payable to us when a payment is made from your loan account by way of Financial Institution (FI) Cheque. |
| CONSENT_FEE | EVENT | $200 | Per consent. Payable to us when you ask us to consent to leasing, subdividing or any other dealing in relation to the security property. |
| DEFAULT_ADMINISTRATION_FEE | EVENT | $50 | Payable to us when the borrower (or security provider) has not performed an obligation on time including an obligation to pay money. This fee is payable monthly commencing one month after the obligation should have been performed and up to and including the month in which the obligation is performed. We debit these fees to your loan account each month until the default is remedied. |
| DISCHARGE_ADMINISTRATION_FEE | EVENT | $200 | Per Security. Payable to us each time we release a security. |
| DISHONOUR_FEE | EVENT | $9 | Payable to us when a payment (such as a direct debit, salary deduction or cheque) is dishonoured. |
| DUPLICATE_FEE | EVENT | $20 | Per copied document. Payable to us when we provide a copy of a document. |
| DUPLICATE_STATEMENT_FEE | EVENT | $7 | Per statement. Payable to us when we provide a copy of a statement at your request. |
| PHOTOCOPYING_FEE | EVENT | $0.50 | Per sheet. Payable to us when we provide a photocopy of any document at your request. |
| PRODUCTION_FEE | EVENT | $200 | Per document per production. Payable to us if, at your or a security provider's request, we produce a document to the Land and Property Information division of the NSW Department of Lands or its equivalent in other jurisdictions. |
| RENEGOTIATION_FEE | EVENT | $300 | Per renegotiation. Payable to us whenever we agree to renegotiate or vary conditions on your loan other than altering interest rate options. |
| SECURITY_SUBSTITUTION_FEE | EVENT | $300 | Per new security. Payable to us to substitute a new security for an existing one. |
| SETTLEMENT_FEE | EVENT | $150 | Per settlement. Payable to us each time we or our solicitors attend settlement in connection with a security. |
| VALUATION_FEE_CONSUMER_LOANS | CASH_ADVANCE | - | Valuation fees are available upon enquiry. Payable in relation to each property to which a loan is secured, and may vary according to the location of the secured property. Initial valuation fee waived up to $250.00 for Package Home Loans. |
| AGENTS_COSTS | CASH_ADVANCE | - | Amount not ascertainable. Payable to us or our solicitor or their agent when they attend to the registration of a discharge of mortgage at your request or when an agent is required to attend a settlement, produce or lodge documents at the Lands and Property Services division of New South Wales Department of Lands or its equivalent in other jurisdictions. |
| INFORMATION_FEE | CASH_ADVANCE | $20 | $1.00 per minute ($20.00 minimum fee). The fee will be calculated on the actual time spent retrieving and providing the information requested. Payable to us to provide information and that information is provided in writing. |
| SWITCHING_FEE | EVENT | $300 | Per switch. Payable to us when you convert from one interest rate option to another within your existing loan or if you elect to switch to another of our loan products |
Rate history
Rate Comparison rate
The figures behind this chart
| From | Until | Rate | Comparison |
|---|---|---|---|
| 2026-07-15 | 2026-08-11 | 5.89% | 5.89% |
| 2026-08-16 | 2026-09-30 (current) | 5.79% | 5.79% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- Loan terms of up to 30 years
Who can apply
- residency status - Australian citizen or a permanent resident of Australia or otherwise approved
- min age - 18
- otherSecrued by approved residential or rural lifestyle property
Limits
- min limit - 100000.00Minimum loan amount up to $100,000.00
- max lvr - 0.95
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-08-13T07:26:28.000+10:00 · Product ID: Budget_Home_Loan