FAQs / Applying for a home loan

Will I always get your published interest rate?

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The short answer is no. But you'll always have a seriously competitive rate.

Think of it like this – when you get a Tic:Toc loan, we’ve locked in a ‘price’ with our funder (Bendigo and Adelaide Bank) for that loan, which is reflected in your interest rate.

When we have a new variable rate for new customers, it means we’ve been able to lock in a lower price with our funder. It doesn’t change the price we secured for your loan. So, having a lower rate for new customers doesn’t mean we’re making more money off our loyal customers to pay for the discount – because we don’t believe in that. It means our funder has been able to give us a better price at that specific time. At some point, our funder may actually increase the price they’ve agreed with us, which means the rates for new customers will go up. And some existing customers will be better off.

The new rate offers work differently to cash rate changes. If there’s an RBA cash rate cut and our funder’s costs ease, they may be able to pass on the cut which means all our customers will receive the same discount off their rate – new and existing. The good news is, all of our rates are seriously good because of our tech-driven proposition. And even if your rates are a fraction higher than the new headline rate, you will still be saving thousands compared to the average loan.

Since launching in 2017, Tic:Toc has had one rate rise in August 2018 (set by our funder due to an increase in funding costs) and four rate decreases: one in June, one in July, and one in October 2019, with another in March 2020 (due to drops in the Official Cash Rate). Our rate rise and four rate drops were for both new and existing customers.

Find out more about how banks and lenders set their interest rates.

Home Loan Guide

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