Adelaide Bank SmartDoc Plus home loan

Now you can get a variable rate low doc home loan that comes with a range of features enabling quick repayment of your loan.

The SmartDoc Plus loan from Adelaide Bank is designed for self-employed borrowers and some PAYG borrowers. This variable rate loan comes loaded with features that enable borrowers to pay their loan off sooner, but it requires that you pay an ongoing monthly fee. The loan term can vary between 5 to 30 years.

The SmartDoc Fix and SmartDoc are alternative loans offered by Adelaide Bank and also come with minimal requirements in terms of documentation like tax returns and payslips. The SmartDoc Fix home loan is a fixed rate alternative and the SmartDoc Plus loan requires loan mortgage insurance (LMI) if the Loan to Value Ratio (LVR) exceeds 60%.

Interest Rate Max Insured LVR Max LVR
5.89% p.a.
Comparison Rate
6.09% p.a.
95% 80%
Investor, IO
6.14% p.a.
Comparison Rate
6.18% p.a.
70% 70%
Owner Occupier
5.39% p.a.
Comparison Rate
5.60% p.a.
70% 60%
Owner Occupier, IO
5.84% p.a.
Comparison Rate
5.77% p.a.
70% 70%
Product NameAdelaide Bank SmartDoc Plus 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 LVR70%
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 creditYes
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


  • $0 legal fee.
  • You can make extra payments at any time and withdraw the funds using the free redraw facility.
  • You can split loans to keep funds separate.


  • There is an application fee of $375.
  • You need to pay $325 exit fee.
  • There is a monthly service fee of $15.

Things to consider about the Adelaide Bank SmartDoc Plus home loan

This variable rate low doc loan offers a competitive interest rate and does not require lenders mortgage insurance for up to 60% LVR. You can apply for this loan if you want to buy a home to live in, if you want to buy a home for investment purposes, and even to refinance your existing home loan. In addition, you can use this money for debt consolidation.

You have the option to split your loan into fixed and variable sections, although each split attracts a fee. You can apply for a credit increase down the line, and this attracts a fee as well.

Features of the Adelaide Bank SmartDoc Plus home loan

  • Loan amount and LVR. You can borrow a minimum of $10,000, and the maximum limit of $2,000,000 is subject to a number of conditions. You can borrow up to 60% of the LVR without requiring LMI.
  • Repayment options. You can make repayments weekly, fortnightly, or monthly, and can make additional payments without attracting any kind of a penalty.
  • Offset accounts. This loan comes with a linked offset account, and you can use this offset account to set automatic debit of repayments. The balance in your offset account helps minimise how much you pay in the form of interest. For example, if your outstanding balance is $75,000 and you have $50,000 in your offset account, only the difference between the two, that is $25,000, attracts interest. There’s no maximum limit surrounding how much you can have in your offset account, and you can use it as an everyday transaction account as well.
  • Redraw. You have the option to redraw money that you've paid in the form of extra repayments. You can withdraw funds via online and phone banking as well as through manual requests. One drawback is that you have to redraw a minimum of $500 each time.


Fees you can avoid

  • Annual fee: $0.
  • Lenders Mortgage Insurance: Amount varies. This is charged if you borrow more than 60%.
  • Online and phone banking redraws: $0.

Fees you can't avoid

  • Application fee: $375.
  • Monthly account-keeping fee: $15.
  • Loan settlement fee: $120.

Find out what your repayments will be in a few seconds

How to apply for the Adelaide Bank SmartDoc Plus home loan

To apply for this loan, you have to meet certain eligibility criteria, which include the following.

  • You should be self-employed for at least two years
  • You should be a permanent Australian resident
  • You should be over 18 years old
  • You should not apply as a company or a trust

Adelaide Bank, like other home loan providers, goes through your existing financial situation before deciding what to do with your application, and they require the following information as part of the application process.

  • A list of all your assets, along with their approximate values
  • A list of all your liabilities and this includes mentioning credit limits
  • You gross annual income
  • If you're using property as security, its estimated value
  • The deposit you're paying or the equity you hold

This variable rate home loan is a good option for self-employed individuals, but since there are others as well, it is important that you compare your options at the onset. After all, you don't buy a home very often.

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Adelaide Bank SmartDoc Plus Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $375 / $15

  • Max LVR


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