|Advertised rate||Comparison rate*||Monthly repayment||Rate Type||Offset||Redraw||Ongoing Fee||Upfront Fees||LVR||Lump Sum Repayment||Additional Repayments||Pre-approval|
Basic Home Loan Fixed 3 Years (LVR 70%-80%)
Basic Investment Loan Fixed (Principal and Interest) 2 Years (LVR < 60%)
Basic Home Loan (LVR 60%-70%)
Basic Investment Loan Fixed (Principal and Interest) 1 Year (LVR 70%-80%)
Basic Home Loan Fixed 5 Years (LVR 70%-80%)
Basic Home Loan Fixed 1 Year (LVR ≥ 90%)
- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of January 22, 2022.
Bank Australia launched in 1957 and become Australia's first customer-owned bank in 2011. Being customer-owned, the bank's profits are returned to its customers in the form of 'competitive' rates, 'fair fees', and 'quality' products and services.
Additionally, the bank invests up to 4% of its after tax profits to a range of social and environmental issues through its 'impact fund'. 100% of its workforce is based in Australia, and the majority of the bank's board is made up of women.
Offering ethical products - which are fee-free for low-income earners - the bank offers banking services and home loan products to its customers. Digital banking services include its app and mobile payments, as well as free access to over 3,000 rediATMs and the ATMs of all major banks.
Bank Australia offers a wide range of home loan products, as well as personal loans, car loans, credit cards, transactions accounts, insurance, and more. In terms of home loans, it offers basic, bridging and premium home loan package options.
Applying for a home loan with Bank Australia can be done over the phone, online, or in person at a branch. In any case, you'll need the following details ready to get started with your application:
- Employment and income details - your salary and evidence of other income you may receive such as shares, rental property and government benefits
- Details of any assets you own - property, vehicles and superannuation
- Details of any existing liabilities - loan balances, repayment amounts and credit card or overdraft limits
If you are not a Bank Australia customer, you may need to verify your identity online by providing your driver’s licence, Medicare card or passport.