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.
If you would prefer a fixed rate you can opt for the ANZ Breakfree Package Home Loan Fixed Rate.
|Product Name||ANZ Breakfree Home Loan Package|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$150,000|
|Maximum Loan Amount||$10,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$395 p.a.|
|Early Termination Fee||$0|
- There is $0 application fees payable with this package.
- You get discounts off the advertised variable and fixed interest rates with this package.
- You can link a 100% offset account to this home loan.
- There is a $395 annual fee.
- A settlement fee of $160 applies.
- A discharge fee of $160 applies when you close your home loan account.
Things to consider about the ANZ Breakfree Home Loan Package
The ANZ Breakfree Home Loan Package is available to owner-occupiers and investors. It's also available to those refinancing an existing home loan.
The features and benefits of the ANZ Breakfree Home Loan Package
The ANZ Breakfree Home Loan Package offers a package that includes a home loan with a discounted interest rate and reduced fees on a range of other banking products. The main features of the loan are:
- 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.
- How much can I borrow? Borrow up to 80% of the property’s value and not be charged Lender's Mortgage Insurance (LMI). You can borrow up to 95% of the property's value with this loan but the interest rate will be different and you will 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. As funds in the account are offset against the balance on your mortgage account, you can pay off your home loan sooner.
- Split your home loan. If you want the flexible features of a variable rate loan, such as redrawing on extra repayments, but also need the certainty provided by a fixed interest rate with unchanging monthly repayment amounts, a split loan can give you the best of both worlds. 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 and is a popular choice for investors who wish to have the benefit of reduced repayment amounts and increased cash flow.
- 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 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 $2,000.
- Discounts on other ANZ banking products. The Breakfree Home Loan Package allows you to package other banking products from ANZ. With a range of benefits such as interest rate discounts on personal loans, bonus interest on savings accounts and waivers on loan approval fees and credit card annual fees.
There are a lot of fee discounts and fees waived with the ANZ Breakfree Package 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.
- Settlement fee: $160. This is the fee for the set up of your loan accounts.
- Discharge fee: $160. Fee charged upon the closure of your home loan accounts with the bank.
How to apply for this product
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. Fill out the form either for a mortgage broker to contact you and discuss your lending needs or an ANZ banker to contact you.
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.
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ANZ Breakfree Home Loan Package Interest Rate History vs RBA Cash Rate Graph
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