Adelaide Bank SmartDoc home loan

Whether purchasing, refinancing or consolidating debt, the Adelaide Bank SmartDoc home loan is worth looking into if you're a low doc borrower.

For Australian home buyers who are self-employed or PAYG borrowers, the Adelaide Bank SmartDoc home loan may be your solution to buying a home. With no pay slips or tax returns to contend with, securing up to 80% of a home’s value for this loan is possible for the small business owner.

If you prefer the security that a fixed rate loan offers, Adelaide Bank offers a similar package with the same benefit for a one to five year competitive fixed rate. In either case, PAYG borrowers may also be eligible for this loan for up to 80% of the home’s value.

Interest Rate Max Insured LVR Max LVR
Investor, P&I
5.87% p.a.
Comparison Rate
6.07% p.a.
80% 60%
Investor, IO
6.12% p.a.
Comparison Rate
6.16% p.a.
80% 80%
Owner Occupier, IO
5.82% p.a.
Comparison Rate
5.75% p.a.
80% 80%
Owner Occupier, P&I
5.37% p.a.
Comparison Rate
5.58% p.a.
80% 60%
Product NameAdelaide Bank SmartDoc Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$10,000
Maximum Loan Amount$2,000,000
Minimum Loan Term5 years
Maximum Loan Term30 years
Maximum LVR60%
Maximum Insured LVR80%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$375
Lender's Legal Fee$0
Valuation Fee$240
Ongoing Fees$15 monthly ($180 p.a.)
Settlement Fee$120
Discharge Fee$325


  • Make extra payments at any time.
  • Redraw facility available.
  • 100% offset account attached.


  • $375 Application fee.
  • Monthly fees of $15 per month.
  • $325 discharge fee when you close your loan accounts.

Things to consider about the SmartDoc home loan

Although geared towards the self-employed, applicants must show still that they have held their self-employed status for more than two years.

Some housing restrictions also apply. This mortgage is only available in what the bank refers to as category one and two locations. It also may not be used towards the purchases of an inner city apartment.

Australian citizens and permanent residents are welcome to apply for this home loan, but applications from temporary residents will not be accepted nor will ones from expatriate Australians.

Features of the Adelaide Bank SmartDoc home loan

  • Loan amount: Loan amounts start at $10,000 and are capped at $2,000,000 with Lender’s Mortgage Insurance (LMI).
  • Maximum LVR: You’re able to borrow up to 80% of the value of the home with this loan.
  • Offset facility: A 100% offset facility is available for no additional charge. This helps you save on interest charges by offsetting the amount of interest due. For example, a loan of $400,000 with an offset account of $40,000 would only see you pay interest on $360,000.
  • Split loan options: You can split this loan into more than one portion to enjoy variable and fixed rates. There’s a fee of $100 per split which applies.
  • Loan terms: Borrowers choose to pay either principal and interest or interest-only for a period of five to 30 years. Unlimited extra repayments a ore allowed annually.
  • Bridging finance: Bridging finance is available with this loan package for a minimum $200 fee. This helps you when selling one property and buying another.
  • Repayment Frequency: Payments may be debited from the offset balance and can be made weekly, fortnightly or monthly when principal and interest combined, or monthly for interest only.


Fees you can avoid

  • Lender’s Mortgage Insurance (LMI). You can avoid LMI by borrowing less than 60% of the property’s value. LMI is an insurance policy taken out by your lender to cover them in the event that you default on your home loan.

Fees you can’t avoid

  • Application fee. $375. An application fee of $375 payable to the lender for preparing and processing all of the documentation required for the loan
  • Settlement fee. $120. A settlement fee of $120 payable to the lender to settle the loan
  • Monthly fees. $15 per year. A monthly maintenance fee of $15 will be applied to your statements.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

How to apply for the Adelaide Bank SmartDoc home loan

As with any home loan, there are requirements you should keep in mind when applying for a home loan with Adelaide Bank.

Eligibility and documentation

During the application process, a borrower will be expected to provide:

  • Financial documents. Evidence that you will be able to afford to make the monthly payments. In lieu of pay slips, a self employed applicant may use rental payments to show his responsibility in making monthly housing payments.
  • Identification documents. Personal identification documentation.
  • Other documents. A certificate of currency for building insurance.

You will also need to determine if mortgage protection insurance is right for you and to sign a mortgage application form along with any additional supporting forms that Adelaide Bank requires.

Having access to a fully transactional 100% offset account gives you saving power that is not found in all home loan packages. Compare the SmartDoc home loan with others that are geared towards the self-employed to help you make the right choice based on your needs both now and in the future.

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Adelaide Bank SmartDoc Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $375 / $15

  • Max LVR


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