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First Option Bank

Every product First Option Bank publishes under the Consumer Data Right, with its rates set beside every other bank's. It last changed one on 7 Nov 2026.

  • Deposits are covered by the government's Financial Claims Scheme up to $250,000 per account holder. Who shares a cap
  • Australian credit licence and AFS licence 236509, held by First Option Bank Ltd; credit licence since 1 February 2011. Complaints it can't resolve go to the Australian Financial Complaints Authority (AFCA). ASIC register
No change yetFirst Option Bank hasn't changed its published variable home loan rates since the RBA's 4 Nov 2026 rise.

40 products in 6 categories

  1. Savings & transaction accounts16
  2. Term deposits12
  3. Personal loans6
  4. Business loans3
  5. Home loans2
  6. Credit cards1

First Option Bank's rates today

First Option Bank's best rate in each category, next to the best you'll find anywhere and the typical institution's best, as of 7 November 2026. Only products anyone can apply for are counted.

Where First Option Bank sits among every institution's best

First Option Bank 6.19%Everyone else, 104 in all

Owner occupier, principal & interest, 80% LVR. One dot per institution, at its lowest variable home loan rate anyone can apply for; hover or tap a dot for its name.

RateFirst Option BankBest anywhereTypical institution
Variable home loanOwner occupier, principal & interest, 80% LVR6.19%SIMPLE HOME LOAN5.93%SCCU's BROKER HOME LOAN6.38%of 104 institutions
Savings accountBase plus any bonus, when its conditions are met3.30%Bonus Saver5.75%Defence Bank Limited's iSaver4.85%of 73 institutions
12-month term depositBest rate for a 12-month term5.25%12 Month Regular Income Term Deposit5.75%Suncorp Bank's Term Deposit5.30%of 65 institutions
Personal loanLowest advertised rate, fixed or variable, leaving out car loans7.99%VIP PERSONAL LOAN5.80%Plenti Personal Loan7.96%of 68 institutions
Credit card purchase rateOngoing purchase rate, not introductory offers10.49%VISA CREDIT CARD7.49%Unity Bank's Low Rate Visa Credit Card12.49%of 51 institutions
Business 12-month term depositBest rate for a 12-month term5.30%12 MTH FIXED TERM BUSINESS5.70%AMP Bank GO 12 Month Business Term Deposit5.30%of 17 institutions
Business loanLowest advertised rate, fixed or variable, leaving out SMSF loans; secured loans usually price lower8.69%MORTGAGE BUSINESS LOAN6.33%SCCU's BUSINESS LOAN7.89%of 47 institutions

First Option Bank home loan repayments

Repayments at First Option Bank's lowest published rate for each loan type: owner occupier at 80% LVR unless marked investor, principal and interest, products open to anyone.

Loan amount
$600,000
Loan term
30 yrs
The $600,000 you borrowInterest over 30 years
  1. VariableSIMPLE HOME LOAN
    6.19%6.19% comparison
    $3,671a month

    $721,532 in interest, $1,321,532 repaid in all

  2. Investor variableSIMPLE HOME LOAN
    6.44%6.47% comparison
    $3,769a month

    $756,755 in interest, $1,356,755 repaid in all

Principal and interest, monthly, as if the rate held for the whole term: a fixed rate reverts to a variable one when the fixed period ends. Fees, offsets and extra repayments aren't included; the repayment calculator handles those. Not First Option Bank's own calculator: confirm the rate with First Option Bank before you apply.

First Option Bank home loan rates

Compare across banks

2 products

Its lowest owner-occupier variable home loan rate (principal and interest, 80% LVR) is 6.19%, with a comparison rate of 6.19%, on its SIMPLE HOME LOAN: 16th lowest of 104 lenders, level with 6 others.

First Option Bank savings and transaction account rates

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16 products

Its highest savings rate is up to 3.30% (0.05% base plus a 3.25% bonus when its conditions are met), on its Bonus Saver: 56th highest of 84 institutions.

First Option Bank term deposit rates

Compare across banks

12 products

Its highest 12-month term deposit rate is 5.25%, on its 12 Month Regular Income Term Deposit: 43rd highest of 65 institutions, level with 3 others.

RateFirst Option BankBest anywhereTypical institution
6-month term depositBest rate for 6 months0.05%6 Month Regular Income Term Deposit5.47%Heartland Bank's Broker Term Deposit5.10%of 63 institutions
12-month term depositBest rate for 12 months5.25%12 Month Regular Income Term Deposit5.75%Suncorp Bank's Term Deposit5.30%of 65 institutions
2-year term depositBest rate for 2 years5.00%24 MONTH FIXED TERM5.60%Judo Bank's Personal Term Deposits4.90%of 55 institutions

First Option Bank credit card rates

Compare across banks

1 product

Its lowest credit card purchase rate is 10.49%, on its VISA CREDIT CARD: 8th lowest of 51 card issuers.

First Option Bank personal loan rates

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6 products

Its lowest advertised personal loan rate is 7.99% variable, with a comparison rate of 8.24%, on its VIP PERSONAL LOAN: 52nd lowest of 69 lenders, level with 2 others.

First Option Bank business loan rates

Compare across banks

3 products

Its lowest advertised business loan rate is 8.69% variable, with a comparison rate of 7.79%, on its MORTGAGE BUSINESS LOAN: 39th lowest of 49 lenders.

Rate changes since 18 Sept 2026How every lender responded

Has First Option Bank passed on the RBA's November 2026 rate rise?

First Option Bank hasn't changed its published variable home loan rates since the RBA's 4 Nov 2026 rise.

Its published savings rates haven't moved since the RBA's 4 Nov 2026 rise.

  1. Wed 21 Oct

    • First Option Bank lifted 1 personal loan rate by 0.25 percentage points.

      0.25

  2. Wed 14 Oct

  3. Tue 13 Oct

  4. Tue 22 Sep

    • First Option Bank cut 1 savings rate by 0.50 percentage points.

      0.50

Published by First Option Bank under the Consumer Data Right, last changed by them on 7 Nov 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.