MyState Bank home loans come from MyState Bank Limited, a Hobart-based authorised deposit-taking institution regulated by APRA and owned by the ASX-listed MyState Limited. It began as a Tasmanian credit union, became a bank in 2014, and lends to borrowers in several states, mostly through mortgage brokers.
This page is a factual profile to help borrowers understand who MyState Bank is and where its home loans may fit. However, it is not a rating, a ranking or a recommendation.
MyState Bank at a Glance
| Item | Detail |
|---|---|
| Lender type | Bank (authorised deposit-taking institution) |
| Owned by | MyState Limited (ASX: MYS), of which MyState Bank Limited is a wholly owned subsidiary |
| Founded or established | Tasmanian credit union roots; renamed MyState Bank Limited on 6 October 2014 after APRA approval |
| Headquarters (city) | Hobart, Tasmania |
| Regulated by | APRA, as an authorised deposit-taking institution |
| Listed on the ASX | Parent MyState Limited is listed (code MYS) |
| Home loans for | Owner-occupiers, first home buyers, investors, borrowers building a home and refinancers |
Ownership and History of MyState Bank
MyState Bank’s roots are in Tasmanian credit unions. MPA notes that it grew out of Connect Credit Union, itself formed from a merger of two earlier credit unions, and the Australian Business Register shows the same entity later trading as MyState Financial Credit Union of Tasmania.
In September 2009, MyState Limited was formed through a merger with Tasmanian Perpetual Trustees and listed on the ASX. Then, in October 2014, after APRA approval, MyState Financial changed its name to MyState Bank Limited, as recorded by MyState and the Australian Business Register.
More recently, MyState merged with Queensland’s Auswide Bank, with the merger taking effect on 19 February 2025. On 1 December 2025, Auswide transferred its banking business to MyState Bank Limited and the two became a single ADI, according to MyState’s half-year report to the ASX. Auswide still trades under its own name as a division of MyState Bank; see our Auswide Bank profile for more.
Today MyState Limited is headquartered in Hobart and its group includes MyState Bank, Auswide Bank, TPT Wealth (trustee and wealth services) and Selfco (equipment finance). The Adviser reports that the group’s mortgage book is spread across Queensland, Victoria, Tasmania and New South Wales.
Where MyState Bank Home Loans May Suit
Based on publicly available information, MyState Bank home loans may be worth comparing for:
- First home buyers. MyState Bank is a participating lender in the Australian Government 5% Deposit Scheme, which lets eligible first home buyers purchase with a deposit from 5%, subject to the scheme rules and lender criteria. See our first home loans page.
- Eligible single parents. MyState also describes the scheme’s single parent stream, which may allow a deposit from 2% for eligible applicants.
- Borrowers who want a simple loan. MyState designed its Basic home loan, with extra repayments and redraw, after brokers asked for a mortgage that is easy for customers to understand.
- Borrowers building a home. MyState lists building a new home among its lending purposes, and industry press also confirms it offers construction financing.
- Investors and refinancers. Investment loans and refinancing both form part of MyState’s residential range.
- Borrowers who prefer a broker-focused lender. Mortgage brokers originate most of MyState Bank’s new home lending, so it is set up to work with brokers.
Home Loan Types MyState Bank Offers
Public sources confirm that MyState Bank offers the following. Product names and features change, so we check current details when you apply:
- Owner-occupied home loans for first and next homes
- Investment property loans
- Lending for building a new home
- Refinancing of existing home loans
- Variable and fixed rate home loans
- Australian Government 5% Deposit Scheme loans for eligible borrowers
Getting a MyState Bank Home Loan Through Ingram Financial
Of course, every lender has its own policies, processes and quirks, and they change often. Rather than working through them on your own, let Ingram Financial help you navigate the maze and compare MyState Bank with the other lenders on our panel.
Shannon Ingram, our principal broker, compares MyState Bank with the rest of the panel against your deposit, income, property and goals, then explains the options in plain English. We work from Bangor, NSW, serve the Sutherland Shire, and also help borrowers across Australia by phone and video.
To see current MyState Bank products, use the lender filter in our comparison tool. When you are ready, contact us for a free, no-obligation chat about whether MyState Bank or another lender is the better fit.
MyState Bank Home Loan FAQs
Yes. MyState Bank Limited is an authorised deposit-taking institution regulated by APRA. It was a Tasmanian credit union before it became MyState Bank in October 2014.
MyState Bank Limited is a wholly owned subsidiary of MyState Limited, a company listed on the ASX (code MYS) and headquartered in Hobart. The group also owns Auswide Bank, TPT Wealth and Selfco.
They are now one bank with two brands. MyState and Auswide merged on 19 February 2025, and on 1 December 2025 Auswide transferred its banking business to MyState Bank Limited. Auswide Bank continues to operate as a brand and division of MyState Bank.
Yes. MyState Bank is listed by the Australian Government as a participating lender in the 5% Deposit Scheme, subject to the scheme’s eligibility rules and the lender’s own criteria.
Yes. Mortgage brokers originate most of MyState Bank’s new home lending, and MyState Bank is one of the lenders on the Ingram Financial panel.
Ingram Financial has no ownership ties to MyState Bank. MyState Bank is simply one of the lenders on our panel. We checked the lender information on this page in October 2026. However, it may change, and the lender sets product availability, policies and eligibility criteria.
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Lending criteria, fees and charges apply. Consider whether it is appropriate for you and speak to us for advice specific to your situation.