Skip to Main Content
Line of Credit Home Loan - Greater Bank

Line of Credit

Interest rate 8.80 % p.a.
Line of Credit home loan base rate

Ready to activate the equity in your home?

A line of credit can offer you the flexibility of using your equity to renovate or invest. You only pay for what you use, making this a great option to manage your finances.

What is a Line of Credit and how does it work?

Available for new and existing customers seeking flexibility for personal investment activities.

Access to funds at a mortgage secured rate, while easy to use like an everyday account.

Offers the convenience of an agreed limit. This means you have funds available when opportunities present themselves.

You’re only charged interest on the amount you use.

No penalty for making lump-sum repayments, and if you need funds again, simply withdraw up to your approved limit.

Typically used where a fluctuating credit limit is required.

A low $10.00 monthly facility with no Greater Bank transaction fees.

Ability to borrow up to 80% of the value of the property being purchased or the security provided.


Rates are effective as at 9am Saturday 20/07/2024

Line of Credit Home Loan base rate

Line of Credit Home Loan Interest rate
Variable 8.80% p.a.
Rates are effective as at 9am Saturday 20/07/2024

Ultimate Line of Credit Home Loan base rate

Ultimate Line of Credit Home Loan Interest rate
Variable 8.10% p.a.

Fees and charges

Establishment fee $500.00
Monthly facility fee $10.00
Settlement processing fee $180.00
Government registration fees apply? Yes

The above are a selection of our fees only. Additional Fees and Charges may apply. For further information please view the Home Loans Terms and Conditions and Lending Products Product Schedule.

Who can apply for a Line of Credit?

Anyone can apply for a Line of Credit Loan, provided that you are:

  • Are an individual living in Australia
  • Are aged 18 years or older
  • Are an Australian citizen or a permanent resident of Australia
  • Are looking to purchase an eligible property in NSW, QLD or the ACT

Calculate your home loan repayments


Got a question about our Line of Credit?

A loan is a sum of money lent to a borrower in full. The borrower receives a lump sum to complete their purchase, and the loan is then repaid in instalments, or repayments, over an agreed length of time.

A line of credit is different in that a borrower receives access to an agreed credit amount, like a credit card. The borrower can use their line of credit to make purchases, and then makes repayments only on what they have spent.

Use one of our lending calculators to find out:

Pay extra on my fixed rate home loan without a penalty?

You can make additional payments during a fixed period on Principal and Interest and Interest Only loans but a pre-payment fee may apply.

You can make extra repayments up to 5% of your original loan amount before there is any chance that a prepayment fee may apply.

Pre-payment fees don’t apply to an extra repayment on a variable rate home loan.


At Greater Bank, we know sometimes it's hard for you to visit us when applying for a home loan, so we will come to you. Our experienced Lenders can visit you at home or work, at a time that suits you. Whether you’re considering a new home loan or swapping your current home loan to Greater Bank, our Lenders are here to help make your life greater.

Get in touch with a Mobile Lender near you - Find a lender

Yes, most lines of credit will come with fees. These can include an initial establishment fee, a monthly account keeping fee, and other transaction and service charges. 

Can't quite find what you're after?

Drop into a branch

Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.

Find a branch

Can’t make it to a branch?

Our mobile lenders are more than happy to come to you. Find a lending expert close to you and request a callback today.

Find a lender near you

Get in touch

Speak to our contact centre
Monday to Friday 8:00am – 6:00pm AEST.
Saturday 8:00am to 1:00pm AEST

Call 13 13 86

*Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria.

Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 Australian Financial Services Licence/Australian credit licence 238273 

^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

#Discounted rates include a discount on Home Loans of $150,000 or over and Home Loans with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.

+Additional costs may apply if your loan has a fixed rate.

All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.