Lock-in those repayments
Set yourself up with an interest rate that can’t go up but can come down. Until 27 June 2024, you can fix today’s variable interest rate for 2, 3 or 5 years with no break costs2. To be eligible for this offer, you must meet the following criteria:
(not available for applications already submitted to Pepper Money).
12:00 am AEST 8 April 2024 until 11:59 pm AEST 27 June 2024.
Our fixed rate home loan interest rates
Until 27 June 2024, you can fix today’s variable interest rate for 2, 3 or 5 years with no break costs2.
Get to know our fixed rate home loan
Say goodbye to break costs
Unlimited extra repayments
Lock it in, Eddy
Lock-in your repayments
Choose your fixed term
Split it your way
Your Loan, Your Rate
Discover our flexible approach to home loans. We look at a range of factors to provide eligible borrowers with an interest rate estimateˇ. Find out where you stand today.
Why Pepper Money?
We’re fast: Credit decision within 2 business days
We're flexible: We'll look to give you options before saying 'no'
We're accessible: Talk through your situation with us
- No break costs or early repayment fees
- We look beyond just your credit score
- Get a quick response within 2 business days
- Borrow up to 95% of the property value
- Cash out for personal or business use (refinances only)
- Additional income sources considered
What’s a flexible
credit assessment?
We don’t just look at the black and white boxes on your home loan application. We make the effort to get to know you – the person behind the application. We ask the questions that matter and look to uncover the meaning behind any blips on your credit report, which allows us to make an informed decision and an interest rate based on your ability to repay a loan with us. Interest rates are determined using a range of factors (including your property goals, income and financial details).
It’s our flexible approach that helps more Aussies achieve their dreams of buying their new home.
Our fixed rate home loan interest rates
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2 year fixed term
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Fixed rate*2: 6.84% p.a. -11.84% p.a.
Comparison rate^: 7.02% p.a. - 11.91% p.a.
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3 year fixed term
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Fixed rate*2: 6.84% p.a. – 11.84% p.a.
Comparison rate^: 7.02% p.a. - 11.94% p.a.
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5 year fixed term
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Fixed rate*2: 6.84% p.a. - 11.84% p.a.
Comparison rate^: 7.02% p.a. – 11.99% p.a.
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7 year fixed term
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Fixed rate*: 7.29% p.a. - 11.99% p.a.
Comparison rate^: 7.28% p.a. – 12.14% p.a.
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10 year fixed term
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Fixed rate*: 7.69% p.a. - 12.34% p.a.
Comparison rate^: 7.65% p.a. - 12.53% p.a.
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2 year fixed term
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Fixed rate*2: 7.14% p.a. - 12.19% p.a.
Comparison rate^: 7.32% p.a. - 12.27% p.a.
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3 year fixed term
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Fixed rate*2: 7.14% p.a. - 12.19% p.a.
Comparison rate^: 7.32% p.a. – 12.30% p.a.
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5 year fixed term
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Fixed rate*2: 7.14% p.a. - 12.19% p.a.
Comparison rate^: 7.32% p.a. - 12.34% p.a.
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7 year fixed term
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Fixed rate*: 7.59% p.a. - 12.34% p.a.
Comparison rate^: 7.58% p.a. - 12.50% p.a.
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10 year fixed term
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Fixed rate*: 7.99% p.a. – 12.69% p.a.
Comparison rate^: 7.95% p.a. – 12.88% p.a.
All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms and conditions, fees and charges apply. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.
Our fixed rate loan details
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Loan purpose
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Purchase or refinance an owner-occupied or investment property – including debt consolidation for refinances
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Maximum LVR
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Borrow up to 95% of the property value of owner-occupied property and up to 90% for investment property - subject to eligibility criteria.
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Loan amounts
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From $50,000 to $2,500,000 (up to 65% LVR) - subject to eligibility criteria.
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Loan terms
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10 - 40 years - subject to eligibility criteria
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Fixed rate periods
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2, 3, 5, 7, or 10 years
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Repayment options
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- Principal and Interest, or
- Interest only (up to 5 years)
For loans with an interest only period, the fixed rate term must equal the interest only period. Interest Only is not available in-conjunction with 7 and 10 year fixed interest rate terms
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Repayment frequency
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- Weekly, fortnightly or monthly for Principal and Interest loans
- Monthly for interest-only loans
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Extra repayments
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Unlimited extra payments are permitted, free of charge
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Redraw
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You can redraw extra repayments after your fixed interest rate period has expired
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Loan splits
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Split loan options are available
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Rate lock#
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To secure the applicable fixed interest rate at formal approval, for 90 days, there is a non-refundable, minimum fee of $750 per home loan application payable at settlement for home loan balances up to $500,000. Terms and conditions apply#.
Fixed rate loan balances rate locked ≤ $500,000 | $750 per home loan application
Fixed rate loan balances rate locked > $500,000 | 0.15% of fixed rate loan balance at settlement
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Break costs
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We don't charge any break costs or early repayment fees
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Offset Account
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We don't offer an offset account on our fixed rate loans.
Not sure if a fixed rate home loan is right for you?
What other home buyers are asking
Wondering if a fixed interest rate is right for you? Here are some popular questions from other home buyers.
- 2 years
- 3 years
- 5 years
- 7 years
- 10 years
Yes, you can make unlimited additional repayments into your fixed rate home loan, however there is no redraw during the fixed interest rate period.
No, redraw is not available for any additional repayments you have made into your fixed rate home loan option during the fixed interest rate period. If you require access to your funds consider other options such as a variable interest rate home loan option which allows redraw and/or an offset sub-account (monthly fees apply).
Yes, we offer fixed rate home loans options for customers who have or have previously had issues on their credit report. Applications are subject to credit assessment and loan eligibility criteria.
Pepper Money’s fixed rate option has no break costs, which means you won’t incur fees for breaking your fixed rate period. This is an offering we provide customers to allow for real life changes.
Yes, fixed interest rate home loan applications will have the ability to lock in the applicable fixed interest rate at the time of formal approval for 90 days (see ‘What fee is charged to lock in a fixed rate home loan’ question in relation to fees that apply). The fixed rate applicable at settlement will be the lower of the interest rate locked in at the time of formal approval (or by exception if we receive your rate lock request after formal approval) or the actual fixed rate at the time of settlement. By locking in a fixed rate, it ensures that if rates increase during the fixed rate lock period the higher interest rate will not be applied.
The rate lock period lasts for 90 days. If the rate lock expires, and no action is taken, then the fixed interest rate on the day of loan settlement will apply. You can request a new rate lock at an additional cost, which will lock in the fixed interest rate, for a new 90 day period, from the date of your new rate lock request.
A non-refundable once-off fee will apply for Fixed Rate Lock requests which will be charged at settlement (see ‘What fee is charged to lock in a fixed rate home loan’ question in relation to fees that apply). You can choose to have the rate lock fee capitalised into the loan or deducted at settlement. The rate lock fee will still be charged even if fixed interest rates decrease.
If the rate lock fee is capitalised to the loan this will increase the loan to value ratio (LVR), and you will pay interest on the rate lock fee.
To lock in a fixed interest rate, there is a minimum, non-refundable fee of $750 per home loan application. If your fixed interest rate home loan balance is greater than $500,000, the rate lock fee will be 0.15% of the fixed rate loan balance at settlement. For example, for a loan amount of $600,000 the rate lock fee will be $600,000 x 0.15% = $900.
The rate lock fee is only payable once per application. The rate lock fee will still be charged even if fixed interest rates have decreased after the rate lock request has been approved.
| Fixed Interest Rate Loan Balance | Rate Lock Fee |
|
Fixed rate loan balances rate locked ≤ $500,000 |
$750 per home loan application |
|
Fixed rate loan balances rate locked > $500,000 |
0.15% of fixed rate loan balance at settlement |
Wondering what's in a rate? Here's some help
Whether you're confused about fixed rates, LMI or LVRs, then we've got articles and resources to help.
Our Product Reviews
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The important legal bits
Information and interest rates are correct as of 8 April 2024 and subject to change at any time.
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licenced financial or tax adviser.
All applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. Promotions are subject to change and may be varied or withdrawn at any time. Applications submitted after the Promotion period will be offered the current interest rates then applicable.
* Pepper Money 2-year fixed interest rates range from 6.84%p.a.-12.19%p.a (Comparison rates range from 7.02%p.a.- 12.27%p.a.^). View all fixed rates » . The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.
^ Comparison rate is calculated on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison rate is 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.
2 Pepper Money’s fixed interest rate promotion is only available for new home loan applications not previously submitted. Applications must be submitted between 12:00 am AEST 8 April 2024 until 11:59 pm AEST 27 June 2024. To lock in the interest rate at Final Approval, a fixed rate authority lock form must be submitted (fees apply#).
#There is a non-refundable, minimum fee of $750 per home loan application payable at settlement to lock in a fixed interest rate for 90 days. For home loan balances greater than $500,000, the rate lock fee is 0.15% of the fixed interest rate loan balance at settlement. For example, for a fixed rate loan amount of $600,000 the rate lock fee will be $600,000 x 0.15% = $900. The lesser of the fixed interest rate at settlement or the applicable locked in fixed interest rate will be applied at settlement. The rate lock fee will be charged at settlement even if interest rates decrease after the rate lock request has been approved.
+ Visa Debit card is issued by Indue Limited ABN 97 087 822 464 and distributed by Pepper Finance Corporation Limited ACN 094 317 647 and/or through Pepper Money accredited mortgage brokers. Refer to the Conditions of Use and Target Market Determination (TMD).
