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ANZ Breakfree Home Loan Package Review

Bundle your mortgage, bank account and credit card together to save on interest and fees

Taking out a home loan can make your finances a bit difficult to manage. Why not package them all together with the Breakfree Home Loan Package and remove the hassle. You will also get rewarded with a lower interest rate and other benefits for doing so.

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Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The ANZ Breakfree Home Loan Package is available to owner-occupiers and investors. It's also available to those refinancing an existing home loan.

About this loan

What are the features and benefits of the ANZ Breakfree Home Loan Package?

  • Interest rate discounts. You can receive discounts of up to 0.90% p.a. on the standard variable rate of your loan. If you take out a loan amount between $250,000 and $499,999 you'll receive a discount of 0.80% p.a. on the rate, and if you borrow $500,000 or above you'll receive a 0.90% p.a. discount.
  • Loan-to-value ratio (LVR). Borrow up to 80% of the property's value without paying lenders mortgage insurance (LMI). You can borrow up to 90% of the property's value with this loan, but this will affect the interest rate, and you will have to pay LMI.
  • Loan amount and term. This loan is available to those wishing to borrow over $150,000 for up to 30 years.
  • 100% offset account. If you are eligible, you can link an ANZ One mortgage offset account. Funds in the account are offset against the balance on your mortgage account, allowing you to pay off your home loan sooner.
  • Split your home loan. A split loan offers the flexible features of a variable rate loan, such as redrawing on extra repayments, and the certainty of a fixed interest rate. You are free to split your loan into a combination of different fixed and variable rate loan products.
  • Interest-only repayments. This repayment option is available for loans for up to 10 years.
  • Flexible repayment frequency. Repayments can be made on a weekly, fortnightly or monthly basis. It may suit you to schedule your repayments with your pay cycle.
  • Extra repayments. This means that lump sums may be deposited into your loan account to shorten the length of the loan. This feature often appeals to borrowers who may have surplus funds, such as work bonuses or tax refunds, that they'd like to use to save on home loan interest.
  • Redraw facility. Additional payments are easily accessible when needed, with a minimum redraw amount of $0.
  • Discounts on other ANZ banking products. The Breakfree Home Loan Package allows you to package other banking products from ANZ. This offers a range of benefits such as interest rate discounts on personal loans, bonus interest on savings accounts and waivers on loan approval fees and eligible credit card annual fees.

What fees and charges come with this loan?

The ANZ Breakfree Package includes a number of fee discounts and waivers, including the application fee. Below are some fees that are still charged:

  • Annual package fee: $395. This fee is charged to maintain your Breakfree Package.
  • Discharge fee: $160. This fee is charged when you exit or repay your mortgage.

What credit cards are available with the ANZ Breakfree Package?

The Breakfree Package will waive the annual fees on one eligible credit card and will also waive the additional cardholder fee. The eligible credit cards are currently:

ANZ Black credit cardsMore about the Black cards available with the ANZ Breakfree Package

The ANZ Rewards Black and Frequent Flyer Black are both eligible for the annual fee waiver of the Breakfree Package:

  • The Rewards Black Credit Card is a premium credit card that earns up to 2 ANZ Rewards points per dollar spent up to $5,000 per statement period. ANZ Rewards is a program that offers travel rewards, gift cards, technology and much more.
  • The Frequent Flyer Black Credit Card earns Qantas Points. You can earn up to 1 Qantas Point per dollar spent up to 7,500 per statement period. The Qantas Frequent Flyer program allows you to redeem points for flights with Qantas and partner airlines as well as for gift cards and much more.

How to apply

If you would like to apply for this home loan, please click on the green 'Go to site' or 'Enquire' button to be redirected to ANZ directly, or a form to contact a mortgage broker.


You need to hold, or apply for, one eligible ANZ transaction account and be approved for at least one eligible loan product that has a total loan balance or credit limit of at least $150,000. You'll also need to be approved for an eligible ANZ credit card and be able to pay the Breakfree Package annual fee when it's due.

You don't need to hold an existing credit card or transaction account with ANZ to eligible. If you'd like to apply for the Breakfree Package but don't hold any ANZ products, you can apply for all the bundled products during your application.

What details do I need to provide?

You'll need to provide the following:

  • General information about the purpose of your home loan, whether you've found a property or not and the purchase price if applicable.
  • Details about your home loan, such as how much you want to borrow and if you're refinancing.
  • Personal information along with contact details.

Home Loan Offers

Important Information*

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  1. Default Gravatar
    January 31, 2022

    We have paid off our mortgage ten years ago, but have not closed the equity manager account. Each year we pay $395. I thought there were some compensations other than lower rates. Should we close our mortgage and end the breakfree?

    • Avatarfinder Customer Care
      February 1, 2022

      Hi James,

      It sounds like you are paying an annual package fee and you’re not getting much value from it.

      There can be other benefits, such as a fee-free credit card. If you take out a credit card with a high annual fee, this could offset the annual fee a little. There may also be insurance discounts.

      Overall, however, the biggest perk of these package fees are interest rate discounts on your loan. If you no longer have a loan and don’t wish to access this facility to acquire more debt in the future, I’d question the value of keeping it. It would be worth calling the bank to get a full understanding of the actual benefits of keeping it open, though it seems like a cost you could do without to me.

      Also – big congrats on paying off your home loan!


  2. Default Gravatar
    January 6, 2016


    I was on 4.43% with the breakfree and it has jumped to 4.71. When did the interest rates rise and why?


    • Default Gravatar
      January 6, 2016

      Hi Eddie,

      Thank you for contacting finder.com.au a financial comparison website and general information service.

      Banks often change rates due to many factors, if you interest rate has changed you should have been advised by your lender of when the rate changed and if you would like further details as to why you will need to contact ANZ directly.


  3. Default Gravatar
    December 23, 2015

    Regarding the above information “Interest-only repayments are allowed.” How would we make the change to interest only for example whilst on 3 month maternity leave etc?

    • Default Gravatar
      December 23, 2015

      Hi Nick,

      Thank you for contacting finder.com.au a financial comparison website and general information service.

      You are able to make the switch from principal and interest repayments to interest only repayments by contacting your lender or mortgage broker, depending on how you applied for the loan, and asking to have your repayments switched and letting them know the amount of time you wish to have the interest only repayments for.


  4. Default Gravatar
    February 9, 2015

    Hi there,
    If I had a Breakfree home loan & paid off that loan say over 10 years, would the loan still act as a redraw facility?
    ie: I pay off my $300k & the loan amount is $0. Could I keep the home loan open for its duration so I could access the extra money I put in? Would there be extra fees on a $0 home loan?
    Many thanks!

    • Avatarfinder Customer Care
      February 10, 2015

      Hi Emma,

      Thanks for your question.

      Please direct this enquiry to a customer service representative at ANZ. They will need to access your personal files and can handle your specific requests on the phone or in person.


  5. Default Gravatar
    December 5, 2014

    Why have I been paying 5.18% on my home loan since 16/8/13 when it should be 5.08%

    • Avatarfinder Customer Care
      December 8, 2014

      Hi Ka,

      Thanks for your question.

      Please note that finder.com.au is an online comparison service and we don’t handle any direct account enquiries.

      It’s advisable that you get in touch with ANZ directly to sort out any problems with your account.

      All the best,

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