Loan / Credit Card Rates

Loan & Credit Card Rates

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Our interest rates have been designed with you in mind - our members.

We do not inflate rates as we do not have shareholders taking a percentage of our profits. Any profits we make are returned to you through better products, more competitive rates and lower fees.

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Home Loans 12 Month Intro Rate Interest Rate Comparison Rate *
Classic Home Loan N/A 4.99% pa 4.99% pa

Premium Home Loan
$150k to $600k

3.99% pa 4.44% pa 4.75% pa

Premium Plus Home Loan
$600k to $800k

3.89% pa 4.15% pa 4.49% pa

Platinum Home Loan
Over $800k

3.79% pa 3.99% pa 4.34% pa

Smart Start Home Loan
For 18 to 35 year olds

3.99% pa 4.44% pa 4.40% pa
Investment Loans 12 Month Intro Rate Interest Rate Comparison Rate *
Classic Investment Loan N/A 5.29% pa 5.29% pa

Premium Investment Loan
$150k to $600k

N/A 4.74% pa 5.09% pa

Premium Plus Investment Loan
$600k to $800k

N/A 4.45% pa 4.81% pa

Platinum Investment Loan
Over $800k

N/A 4.29% pa 4.65% pa

Notes:
- The interest rates above are for Principal and Interest loans.
- Different rates apply to Interest Only loans and Fixed Rate loans.
- Fixed Rate mortgages are available for 1, 2 and 3 years.
- First Option also offers Business Loans and Business Overdrafts.

Car Loans 6 Month Intro Rate Interest Rate Comparison Rate **

New Car Loan 
Fixed for 7 years

N/A 6.45% pa 6.69% pa

Used Car Loan
Fixed for 7 years

N/A 6.45% pa 6.69% pa

Smart Start Car Loan
For 18 to 24 year olds

2.99% pa 8.25% pa 7.21% pa
Personal Loans Interest Rate Comparison Rate **
Variable Personal Loan 13.99% pa 14.25% pa
1 Yr Fixed Personal Loan 7.99% pa 8.24% pa
2 Yr Fixed Personal Loan 8.99% pa 9.24% pa
3 Yr Fixed Personal Loan 9.99% pa 10.24% pa
VIP Personal Loan
For members with an existing mortgage loan at First Option.
6.44% pa 6.68% pa

BeGreen Personal Loan fixed rate#
Limited Offer until 31 Dec 2018

6.99% pa 7.23% pa
Cash Secured Loan
Must be secured with a First Option Term Deposit
4.99% pa 4.99% pa

Smart Start Investor Loan
For 18 to 24 year olds

10.99% pa 10.99% pa

Smart Start Education Loan
For 18 to 24 year olds

10.99% pa 10.99% pa
Overdrafts Interest Rate Comparison Rate
Unsecured Overdraft 13.99% pa N/a
Mortgage Secured Overdraft 5.49% pa N/a
Budget Saver Overdraft 13.99% pa N/a
Visa Credit Card 6 Month Intro Rate Interest Rate Comparison Rate
Cash Rewards Credit Card 1.99% pa  15.99% pa N/a
Low Rate Credit Card 1.99% pa  11.99% pa N/a
  Additional Product Information

Key Fact Sheets

* Home Loan comparison rates are calculated on a loan amount of $150,000 over a term of 25 years
** Personal & Car Loan comparison rates are calculated on a loan amount of $30,000 over a term of 5 years
# Can be fixed for up to 7 years. Variable rate option also available.

WARNING: These comparison rates are 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.