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Who can apply

You must satisfy the following requirements to apply for a MyRate loan:
  • Be at least 18 years of age
  • Be an Australian resident
  • The property to be used as security must be located in Australia

A MyRate Loan can be used for the following purposes:

Some MyRate Loan products have specific credit requirements applicants must meet. Please refer to the table below.

  Advantage Rate Loan All-in-One Loan Low-Doc Loan
Borrower Type PAYG/self-employed/Company/Trust PAYG/self-employed PAYG (as co-borrower only) / Self employed / Company
Credit History Maximum 3 paid defaults less than $1000 Maximum 3 paid defaults less than $1000 Clear CRA
Un-acceptable income Centrelink payments+
Pensions
Centrelink payments+
Pensions
Centrelink payments+
Pensions
Loan Purpose All purposes considered All purposes considered All purposes considered
+Some family allowance payments acceptable

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Compare Us  
Lender % p.a CCR % Fees
MyRate 5.42 5.42 $0*
CBA 6.15 6.29 $600
St. George 6.49 6.65 $700
Westpac 6.51 6.64 $600
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MyRate Update
Friday 17th May 2013

In line with the recent RBA rate cut, we are pleased to advise that our funder has reduced the rate on all variable rate loans by 0.25% effective the 17th of May 2013.

Our website is already reflecting these changes.

Did you know that MyRate can offer a 97% LVR on purchases including capitalised LMI? Enquire now to find out more.

Awards & Accreditations
Postcodes of MyRate funded loans
MyRate is a Kiva supporter