Family considers getting fixed interest rate home loan
Family considers getting fixed interest rate home loan

Fixed interest rates with no break costs

Find our your indicative interest rate, in just a few easy steps.

 It won’t impact your credit score

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:

No break fees
Submit a new application
(not available for applications already submitted to Pepper Money).
Unlimited extra repayments home loan option
Submit your application between
12:00 am AEST 8 April 2024 until 11:59 pm AEST 27 June 2024.
Lock in fixed rate
To lock in the interest rate at Final Approval, a fixed rate authority lock form must be submitted (fees apply#).  

    

Our fixed rate home loan interest rates

Fixed rate home loan
2-year fixed rate home loans starting from
6.84
%
p.a.
Interest rate*2
7.02
%
p.a.
Comparison rate ^2

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

No break fees

Say goodbye to break costs

We don’t change break costs or early repayment fees. You’ll have the flexibility to switch or pay out your loan at any time. 
Unlimited extra repayments home loan option

Unlimited extra repayments

Get ahead on your loan with unlimited extra repayments, and redraw your funds after your fixed-rate period has finished.
Lock in fixed rate

Lock it in, Eddy

Once formally approved, apply to lock in the applicable fixed interest rate for 90 days with our rate lock from $750 per application#.
Lock-in your repayments

Lock-in your repayments

Enjoy certainty of your repayments for up to 10 years on principal and interest loans.
Fixed term home loan

Choose your fixed term

Choose a fixed-rate term that suits you and lock-in your repayments for 2, 3, 5, 7 or even 10 years.
Split home loan

Split it your way

You can split a portion of your loan to have a fixed interest rate and leave the remainder with a variable rate. 

    

 

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

 

why pepper money
  • 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

Benefit from fixed repayments during your chosen loan term. What's more, there aren't any break costs if you change your mind and revert to a variable rate. Our rate ranges are based off Principal and Interest repayments.
Owner-Occupier
2 year fixed term

Fixed rate*2: 6.84% p.a. -11.84% p.a.

Comparison rate^: 7.02% p.a. - 11.91% p.a.

3 year fixed term

Fixed rate*2: 6.84% p.a. – 11.84% p.a.

Comparison rate^: 7.02% p.a. - 11.94% p.a.

5 year fixed term

Fixed rate*2: 6.84% p.a. - 11.84% p.a.

Comparison rate^: 7.02% p.a. – 11.99% p.a.

7 year fixed term

Fixed rate*: 7.29% p.a. - 11.99% p.a.

Comparison rate^: 7.28% p.a. – 12.14% p.a.

10 year fixed term

Fixed rate*: 7.69% p.a. - 12.39% p.a.

Comparison rate^: 7.65% p.a. - 12.53% p.a.

Investor
2 year fixed term

Fixed rate*2: 7.14% p.a. - 12.19% p.a.

Comparison rate^: 7.32% p.a. - 12.27% p.a.

3 year fixed term

Fixed rate*2: 7.14% p.a. - 12.19% p.a.

Comparison rate^: 7.32% p.a. – 12.30% p.a.

5 year fixed term

Fixed rate*2: 7.14% p.a. - 12.19% p.a.

Comparison rate^: 7.32% p.a. - 12.34% p.a.

7 year fixed term

Fixed rate*: 7.59% p.a. - 12.34% p.a.

Comparison rate^: 7.58% p.a. - 12.50% p.a.

10 year fixed term

Fixed rate*: 7.99% p.a. – 12.74% 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

Loan purpose
Purchase or refinance an owner-occupied or investment property – including debt consolidation for refinances
Maximum LVR
Borrow up to 95% of the property value of owner-occupied property and up to 90% for investment property - subject to  eligibility criteria.
Loan amounts
From $50,000 to $2,500,000 (up to 65% LVR) - subject to  eligibility criteria.
Loan terms
10 - 40 years - subject to eligibility criteria
Fixed rate periods
2, 3, 5, 7, or 10 years
Repayment options
  • 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

Repayment frequency
  • Weekly, fortnightly or monthly for Principal and Interest loans
  • Monthly for interest-only loans

 

Extra repayments
Unlimited extra payments are permitted, free of charge
Redraw
You can redraw extra repayments after your fixed interest rate period has expired
Loan splits
Split loan options are available
Rate lock#

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

Break costs
We don't charge any break costs or early repayment fees
Offset Account
We don't offer an offset account on our fixed rate loans.
Pepper Money fixed rate home loan

Not sure if a fixed rate home loan is right for you?

Get the freedom of redraw and a 100% interest-offset sub account with our variable rate loan option. 

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 BalanceRate 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  

Our Product Reviews

Family celebrating in their new home

What our customers think about us

4.2

from 1,218 reviews

Absolutely incredible

I was absolutely amazed at how caring and professional this company is. They certainly went above what I was expecting and were so friendly to talk to and willing to help.

Steve, Perth - Fixed Rate
Very easy to deal with

The customer service was perfect. No request was too hard. I’m very satisfied.

Mark, Tasmania - Fixed Rate
Request for information

My question was answered quickly, and I was provided the information promptly. The staff were very knowledgeable and friendly too.

Karen - Fixed Rate
Outstanding!

Pepper Money were outstanding. Their service, support, knowledge and advocacy was second to none. Seamless service with high class professionalism. Thank you Pepper, I will definitely refer family and friends to you.

REE - Fixed Rate
Excellent mortgage provider

This is our third mortgage with Pepper Money. I wouldn’t want to go anywhere else as they’re so friendly and happy to help in anyway they can. Well done.

Warren - Fixed Rate
How easy

All done online which makes it so easy. 5 stars Pepper Money. I’ll be back.

Lynette - Fixed Rate

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.

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).

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