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P&N Bank Offset Home Loan

The P&N Bank Offset Home Loan offers variable rates from 6.34% p.a. (6.37% p.a. comparison rate*). Low deposit home loans.

Updated 14 July 2024

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Expert Review

If you're searching for a basic home loan with an offset account, then the P&N Bank Offset Home Loan is worth considering. As one of P&N Bank's more basic home loan offerings, it features variable interest rates across the Owner Occupier category, and the ability to split your loan with P&N Bank's fixed rates. Further details about the P&N Bank Offset Home Loan benefits are outlined below.

Basic non-package loan for owner occupiers:
The key features under this relatively basic offering for owner occupier loans are focused on pricing. Specifically, pricing advertised includes a $0 monthly fee, and a relatively high variable rate starting from 6.34% p.a. (6.37% p.a. comparison rate) on Principal and Interest repayments. Please keep in mind that despite this being a relatively basic no-frills product offering by P&N Bank, these rates should be able to be negotiated down, particularly for people borrowing a sizeable amount, or for those who hold a sizeable deposit or equity in a property already. This loan does require a minimum of either 5% deposit or 5% existing equity, and often anything above these amounts will help you negotiate a lower interest rate. Other key features include the ability to use an offset account to minimise interest charged. This can over the life of the loan save borrowers significant money. There is also the option to split the loan into Variable and Fixed rate components, plus being able to make extra repayments and in the future, redraw funds if desired. In terms of repayments Principal and Interest repayments are available.
Considering the basic features available with this product, this home loan will appeal to owner occupier borrowers. It will also appeal to someone where the lesser known P&N Bank brand and service isn’t a concern, or for those who are happy to bank with a lender that offers features most important to them, over who the lender is.

Product Details
A variable rate loan that provides flexibility to use your savings to reduce the interest you pay."
- P&N Bank

$0 establishment fee

$0 annual fee

Other fees may apply.

Loan Amount

From $50,000


No ongoing fees

Split your loan into fixed and variable rate portions

Save interest with an offset account

Make extra repayments

Redraw extra repayments that you have made


Before applying for this product, you should read the Target Market Determination (TMD) available here on the P&N Bank website.

More information
* Comparison rate is based on a secured loan of $150,000 over a 25 year term. 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.
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