Compare Construction Loan Lenders

Rates and features from 15 Australian lenders that offer construction loans. Rate data sourced from Open Banking (CDR) APIs and verified regularly.

Lowest variable rate

6.14%

ING

Lenders compared

Big 4, majors, specialists

Max LVR available

95%

with LMI

Construction loan lenders

Lender	Variable rate	Comparison	Max LVR	Offset
IN ING major	6.14%	6.19%	90%	—	View →
Ma Macquarie major	6.19%	6.22%	90%	✓	View →
Ba Bankwest major	6.24%	6.27%	90%	✓	View →
Ad Adelaide Bank major	6.29%	6.33%	90%	✓	View →
Be Beyond Bank mutual	6.34%	6.38%	90%	✓	View →
Su Suncorp major	6.39%	6.43%	95%	—	View →
AN ANZ Big 4	6.44%	6.47%	95%	✓	View →
NA NAB Big 4	6.44%	6.48%	95%	✓	View →
Gr Great Southern mutual	6.44%	6.48%	90%	—	View →
Co CommBank Big 4	6.49%	6.52%	95%	✓	View →
We Westpac Big 4	6.54%	6.57%	95%	✓	View →
St St.George major	6.54%	6.58%	95%	✓	View →
Ba Bank of Melbourne major	6.54%	6.58%	95%	✓	View →
Be Bendigo major	6.64%	6.68%	95%	✓	View →
Te Teachers Mutual mutual	6.69%	6.73%	95%	—	View →

Rates are indicative and sourced from Open Banking (CDR) APIs or lender websites. Verify before applying. Comparison rates based on $150,000 loan over 25 years.

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Common questions

Which lender has the best construction loan rate? ↓

As of April 2026, ING and Macquarie have the lowest indicative rates among construction lenders (6.14%–6.19% variable). However, both have limitations: ING has no offset account, and Macquarie requires a broker and caps at 90% LVR. The "best" lender depends on your specific deposit, income and project.

Do all lenders offer construction loans? ↓

No. Some lenders (notably Athena, most neobanks) only offer loans on completed properties. Construction loans require the lender to manage drawdowns, progress inspections and variable security — not all lenders have this infrastructure.

Can I get a construction loan with 10% deposit? ↓

Yes — most major lenders offer construction loans at 90% LVR with LMI. NAB, ANZ, CommBank, St.George and Suncorp all go to 90–95%. At 90% LVR, you'll pay LMI premium, which can be capitalised into the loan.

Is the rate locked in during construction? ↓

Variable rates are not locked — they can change during the build phase. Some lenders offer a rate lock (typically 90 days) to lock in a fixed rate before construction starts. Westpac and CommBank offer this for a fee.