Unloan
Unloan is a digital-only Australian home loan lender and fully owned division of Commonwealth Bank of Australia, offering a fee-free variable-rate mortgage with a growing annual loyalty discount, unlimited redraw, and Top Up facility, distributed exclusively online to retail consumers.
- Company typePrivate
- Founded2020
- HeadquartersSydney, Australia
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Unloan does
Unloan is a digital-only Australian home loan lender that operates as a fully owned division of Commonwealth Bank of Australia, launched to serve retail consumers seeking variable-rate home loans via an unbundled, fee-free online experience. The company offers a single core product — a variable-rate home loan with no application, annual, banking, account, transaction, late, or exit fees — augmented by a loyalty discount that grows by 0.01% p.a. annually up to a maximum of 0.30% p.a. over 30 years, plus an unlimited free redraw facility and a Top Up product for existing borrowers. Its technology stack is built on CommBank's modern banking infrastructure and is delivered through the Unloan web application (a progressive web app accessible via mobile, desktop, and tablet) rather than native apps, with integrations to Domain (property data), Equifax (income verification), DocuSign (e-signature), PEXA (electronic settlement), and Australia's Consumer Data Right framework. Supporting tools include a Check a Property research tool, a Property Coach advisory contact channel, and a suite of calculators (borrowing, repayments, savings, stamp duty). All sales and servicing are conducted online; Unloan is not available through CommBank branches or call centres.
The business model is a direct-to-consumer net interest margin play: Unloan earns the spread between its variable lending rate and CommBank-supplied funding, monetising loan principal rather than fees or subscriptions. Distribution is exclusively through unloan.com.au and app.unloan.com.au, with marketing driven by SEO, the Learn Hub content engine, customer referrals, and a Velocity Frequent Flyer loyalty partnership. The company does not publish separate financials, but it is positioned as a price-disciplined, low-overhead refinance challenger within CBA's portfolio, targeting owner-occupiers, first home buyers, refinancers, and (within the same product) property investors across Australia. Compliance is anchored to the Banking Code of Practice, ASIC's ePayments Code, the Privacy Act 1988 (Cth), and the parent entity's Australian credit licence (234945). Unloan explicitly does not participate in government home-buyer assistance schemes such as the Home Guarantee Scheme or Victorian Homebuyer Fund.
Unloan firmographics
Firmographics- Name
- Unloan
- Legal name
- Unloan, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945
- Website
- https://unloan.com.au
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Unloan is a digital-only Australian home loan lender and fully owned division of Commonwealth Bank of Australia, offering a fee-free variable-rate mortgage with a growing annual loyalty discount, unlimited redraw, and Top Up facility, distributed exclusively online to retail consumers.
- Ownership category
- akta.pro rank
Unloan industry classification
Industry- Product category
- Consumer Home Loan Lending
- NAICS
- Sales Financing (522220)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Closed-End Home Equity Loans (Second Mortgages) (FSALAGAA)
Keywords
Where Unloan is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Unloan business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Home Loan Interest Spread: Unloan generates revenue through the interest spread on variable rate home loans. As a digital-only lender without broker commissions or branch costs, they offer competitive low rates while maintaining profitability through the difference between their funding costs (backed by CommBank) and the interest charged on loans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Variable rate home loan with loyalty discount |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Unloan product offering
Product offeringCore offering
Unloan offers a single digital-only variable rate home loan to Australian consumers, with no application, annual, banking, account, transaction, late, or exit fees. The product features an annual loyalty discount that grows by 0.01% p.a. each year up to a maximum of 0.30% p.a. over 30 years, plus unlimited fee-free redraw with instant access via the web application. Loans range from $10,000 to $10,000,000 per customer, with the entire application and account management process conducted online in approximately 15 minutes.
Product overview
Unloan is a digital-only home loan division of Commonwealth Bank offering a single core variable rate home loan product. The offering is a unified product with several integrated tools and features including: the Unloan Variable Home Loan (core product) with fee-free structure and loyalty discount; the Unloan App (web-based platform) for loan management; the Check a Property Tool for property research; a suite of calculators (Borrowing, Repayments, Savings, Stamp Duty) for financial planning; Redraw Facility and Top Up features for accessing equity; and AutoPay for automated repayments. Unloan operates exclusively online through its website and web application, with no physical branches.
Differentiator
Problem solved
Functional benefit
Products and services
- Unloan Variable Home Loan
Quantifiable outcome
- Loyalty discount accumulates to maximum 0.30% p.a. over 30 years of tenure
- +2 more outcomes
Companies that use Unloan
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles4 records
Unloan technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
Unloan partnerships and signals
Strategic signalScale indicators1 record
Recent moves6 records
Expansion highlights6 records
Unloan competitors and assessment
Company assessmentDirect peers
- Athena Home Loans: Australian digital mortgage lender offering variable and fixed rate home loans with a digital-only application and rate-tracking feature. Closest comparable in business model — digital-first, low-fee, direct-to-consumer — competing directly with Unloan in the same refinancing segment.
- ING Australia: Australian digital-first bank offering home loans, savings, and transaction accounts with competitive variable rates and minimal fees. Comparable to Unloan as a bank-backed digital mortgage alternative serving cost-conscious borrowers.
- Homeloans.com.au: Australian online mortgage lender offering home loans with competitive variable and fixed rates through a digital application. Direct peer competing with Unloan in the online low-rate refinancing segment.
- Tic:Toc: Australian digital-only mortgage lender providing instant conditional approval and streamlined online home loan application. Comparable to Unloan as a digitally-native challenger in the Australian mortgage market targeting self-serve refinancing customers.
- Reduce Home Loans: Australian mortgage lender focused on low interest rates and competitive variable-rate home loans. Direct peer targeting similar rate-sensitive refinancing customers with a low-cost online proposition.
- Homestar Finance: Australian online mortgage lender offering variable and fixed rate home loans with a digital application. Competes with Unloan in the digital mortgage segment targeting refinancing and home purchase customers.
- loans.com.au: Online direct-to-consumer mortgage lender in Australia offering competitive variable and fixed rate home loans with a digital application process. Direct peer competing with Unloan for online refinancing customers seeking low-rate, low-fee home loans.
- Nano Home Loans: Australian digital mortgage lender offering low-rate home loans through a streamlined online application with broker and direct channels. Competes with Unloan in the low-rate variable home loan segment.
- UBank: NAB-owned digital bank in Australia offering home loans, savings, and transaction accounts through an online-only platform. Highly comparable as a bank-backed digital mortgage challenger, similar to how CommBank backs Unloan.
Broad incumbents
- Lendi: One of Australia's largest mortgage broker/aggregator platforms, comparing home loan products from multiple lenders. Comparable to Unloan as a customer acquisition channel competing for refinancing flow, though operating via broker distribution rather than direct-to-consumer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Unloan social profiles
Digital presenceUnloan compliance and trust
Trust signalCompliance5 records
Unloan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Unloan leadership team
Management profileNumber of profiles
Profiles1 record
Unloan funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Unloan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Unloan
What does Unloan do?
Unloan offers a single digital-only variable rate home loan to Australian consumers, with no application, annual, banking, account, transaction, late, or exit fees. The product features an annual loyalty discount that grows by 0.01% p.a. each year up to a maximum of 0.30% p.a. over 30 years, plus unlimited fee-free redraw with instant access via the web application. Loans range from $10,000 to $10,000,000 per customer, with the entire application and account management process conducted online in approximately 15 minutes.
Is Unloan a public or private company?
Unloan is a private company. It is classified as corporate owned and is currently operating.
When was Unloan founded?
Unloan was founded in 2020. It employs 51 to 100 people.
Where is Unloan based?
Unloan is headquartered in Sydney, Australia, in the Oceania region.
How does Unloan make money?
One revenue line is on record: home Loan Interest Spread.
Who are Unloan's main competitors?
Direct peers on record are Athena Home Loans, ING Australia, Homeloans.com.au, Tic:Toc, Reduce Home Loans, Homestar Finance, loans.com.au, Nano Home Loans and UBank. Lendi is listed as a broad incumbent.
Does Unloan have an API?
No public API is recorded for Unloan.
What industry is Unloan in?
Unloan's product category is Consumer Home Loan Lending. Its primary akta.pro industry code is FSALAGAA, Closed-End Home Equity Loans (Second Mortgages). Its NAICS code is 522220 and its SIC code is 6141.