How does NRMA Insurance's new home loan compare to the competition?

By Jack Dona · · 2 min read
Fact Checked
A young couple stand in front of their new home smiling proudly

Not only can NRMA insure your home, but they can now help you buy one.

NRMA Insurance’s new home loan product, powered by digital home loan lender Tic:Toc, offers competitive interest rates for owner-occupiers and investors, and the option to include an offset account .

The standard variable interest rate for the NRMA Insurance home loan is 5.83% p.a. (5.98% p.a. comparison rate*), which is a lower rate than the Big 4 banks are currently offering.

Given online lenders don’t have as many overheads as traditional, brick-and-mortar banks (think branches and employees), the typically lower rates on offer don’t come as a surprise. But how does an NRMA Insurance home loan compare to other digital lenders right now?

What rates are digital lenders offering?

Online home loan lenders are offering the following standard variable rates:

  • Reduce Home Loans Basic Home Loan | 5.69% p.a. variable rate (5.73% p.a. comparison rate*)
  • Tic:Toc Variable Home Loan | 5.69% p.a. variable rate (5.70% p.a. comparison rate*)
  • Up Variable Home Loan | 5.90% p.a. variable rate (5.90% p.a. comparison rate*)
  • Unloan Variable Home Loan | 5.74% p.a. variable rate (5.65% p.a. comparison rate*)
  • Loans.com.au Smart Home Loan 80 | 6.48% p.a. variable rate (6.50% p.a. comparison rate*)
  • ING Mortgage Simplifier | 5.84% p.a. variable rate (5.86% p.a. Comparison rate*)
  • Athena Straight Up Home Loan | 6.14% p.a. variable rate (6.10% p.a. comparison rate*)
  • Macquarie Basic Home Loan | 5.95% p.a. variable rate (5.97% p.a. comparison rate*).

Don’t forget to compare home loans from a range of lenders

Of course, there are plenty of other non-digital lenders out there with competitive home loan interest rates. So, no home loan comparison is complete without looking at the broader picture.

Mozo has over 460 home loan products in its database to help you compare your options and find a mortgage that fits your needs. Get started by checking out some of the featured home loans below.