ANZ Breakfree Home Loan Package Review

Rates and fees last updated on

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.

Interest Rate Max Insured LVR Max LVR
$150,000 to $249,999 (Owner Occupier, IO)
4.95% p.a.
Comparison Rate
5.19% p.a.
95% 80%
$150,000 to $249,999 (Owner Occupier, P&I)
4.75% p.a.
Comparison Rate
5.14% p.a.
95% 80%
$150,000 up to $249,999 (Investor, IO)
5.46% p.a.
Comparison Rate
5.74% p.a.
95% 80%
$150,000 up to $249,999 (Investor, P&I)
5.35% p.a.
Comparison Rate
5.73% p.a.
95% 80%
$250,000 to $499,999 (LVR <=80% Owner Occupier, IO)
4.65% p.a.
Comparison Rate
4.89% p.a.
80% 80%
$250,000 to $699,999 (Owner Occupier, IO)
4.85% p.a.
Comparison Rate
5.09% p.a.
95% 80%
$250,000 to $699,999 (Owner Occupier, P&I)
4.65% p.a.
Comparison Rate
5.04% p.a.
95% 80%
$250,000 up to $499,999 (LVR <=80% Investor, IO)
5.16% p.a.
Comparison Rate
5.45% p.a.
80% 80%
$250,000 up to $499,999 (LVR <=80% Investor, P&I)
5.05% p.a.
Comparison Rate
5.44% p.a.
80% 80%
$250,000 up to $499,999 (LVR >80% Investor, IO)
5.21% p.a.
Comparison Rate
5.50% p.a.
80% 80%
$250,000 up to $499,999 (LVR >80% Investor, P&I)
5.1% p.a.
Comparison Rate
5.49% p.a.
95% 80%
$250,000 up to $499,999 (LVR >80% Owner Occupier, IO)
4.7% p.a.
Comparison Rate
4.94% p.a.
90% 80%
$250,000 up to $499,999 (LVR >80% Owner Occupier, P&I)
4.5% p.a.
Comparison Rate
4.90% p.a.
95% 80%
$250,000 up to $699,999 (Investor, IO)
5.36% p.a.
Comparison Rate
5.65% p.a.
95% 80%
$250,000 up to $699,999 (Investor, P&I)
5.25% p.a.
Comparison Rate
5.63% p.a.
95% 80%
$500,000 plus (LVR <=80% Investor, IO)
5.06% p.a.
Comparison Rate
5.35% p.a.
80% 80%
$500,000 plus (LVR <=80% Investor, P&I)
4.95% p.a.
Comparison Rate
5.34% p.a.
80% 80%
$500,000 plus (LVR <=80% Owner Occupier, IO)
4.55% p.a.
Comparison Rate
4.79% p.a.
80% 80%
$500,000 plus (LVR <=80% Owner Occupier, P&I)
4.35% p.a.
Comparison Rate
4.75% p.a.
80% 80%
$500,000 plus (LVR >80% Investor, IO)
5.11% p.a.
Comparison Rate
5.40% p.a.
90% 80%
$500,000 plus (LVR >80% Investor, P&I)
5% p.a.
Comparison Rate
5.39% p.a.
95% 80%
$500,000 plus (LVR >80% Owner Occupier, IO)
4.6% p.a.
Comparison Rate
4.84% p.a.
90% 80%
$500,000 plus (LVR >80% Owner Occupier, P&I)
4.4% p.a.
Comparison Rate
4.80% p.a.
95% 80%
$700,000+ (Investor, IO)
5.26% p.a.
Comparison Rate
5.55% p.a.
95% 80%
$700,000+ (Investor, P&I)
5.15% p.a.
Comparison Rate
5.53% p.a.
95% 80%
$700,000+ (Owner Occupier, IO)
4.75% p.a.
Comparison Rate
4.99% p.a.
95% 80%
$700,000+ (Owner Occupier, P&I)
4.55% p.a.
Comparison Rate
4.95% p.a.
95% 80%
$250,000 to $499,999 (LVR <=80% Owner Occupier, P&I)
4.45% p.a.
Comparison Rate
4.85% p.a.
80% 80%
Product NameANZ Breakfree Home Loan Package
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$10,000,000
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
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$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$395 p.a.
Settlement Fee$0
Discharge Fee$160
Early Termination Fee$0

Pros

  • 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.

Cons

  • There is a $395 annual fee.
  • A discharge fee of $160 applies when you close your home loan account.

Details 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.

Features 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 95% 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 $2,000.
  • 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.

Fees

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.
  • Settlement fee: $0. This is the fee for the set up of your loan accounts.

Are there any exit fees with the ANZ Breakfree Package?

There's a discharge fee of $160 which is charged when you close your home loan account. Also keep in mind that if you take out a fixed rate Breakfree Package and exit it before the fixed term ends you'll have to pay break costs.

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 an uncapped credit card that earns up to two ANZ Rewards points per dollar spent. ANZ Rewards is a program that offers travel rewards, gift cards, technology and much more.
  • The Frequent Flyer Black Credit Card is also uncapped but earns Qantas Points. With this card you can earn up to one Qantas Point per dollar spent. 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 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.

Eligibility

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.

Enquire about this home loan

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This page was last modified on 25 May 2017 at 1:29pm.

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22 Responses to ANZ Breakfree Home Loan Package Review

  1. Default Gravatar
    Eddie | January 6, 2016

    Hello,

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

    Thanks

    • Staff
      Jodie | 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.

      Regards
      Jodie

  2. Default Gravatar
    Nick | 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?

    • Staff
      Jodie | 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.

      Regards
      Jodie

  3. Default Gravatar
    Emma | 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!
    Emma.

    • Staff
      Shirley | 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.

      Cheers,
      Shirley

  4. Default Gravatar
    ka | December 5, 2014

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

    • Staff
      Shirley | 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,
      Shirley

  5. Default Gravatar
    Adam | December 3, 2014

    Hi,

    We have just been formally approved for this loan as a re finance. Our loan includes and offset account with 17,000 be deposited into this by ANZnas equity in the house. Also a platinum credit card with Amex card linked.

    My question is 2 fold. How quick are the funds deposited into Offset account after settlement and also how quick do the credit cards come after settlement

    Thanks

    • Staff
      Shirley | December 4, 2014

      Hi Adam,

      Thanks for your question.

      It usually takes up to five business days for the credit cards to arrive. It can take up to 15 days for the funds to be deposited into your offset account.

      Cheers,
      Shirley

  6. Default Gravatar
    Adrian | November 19, 2014

    Hi, we currently have a Breakfree package, which was set up in May this year when we purchased a new property, have got an investment property as well, the investment property is in need of some costly repairs, funds are tight and redraw funds unavailable. We have found a lower interest rate with another institution, might be able to get funds for repairs by refinancing with another lender. Would we be up for any fees to exit the breakfree package?

    Regards
    Adrian

    • Staff
      Shirley | November 20, 2014

      Hi Adrian,

      Thanks for your question.

      An exit fee (please check fees and charges tab) will likely apply plus discharge costs.

      Discharge costs are calculated according to the loan term you have left for your home loan, so you’ll need to call ANZ directly to get a proper quote for this.

      Cheers,
      Shirley

  7. Default Gravatar
    Laura | November 13, 2014

    hi, we have this loan and are wanting to sell our house we have had the loan for approx. 6.5 years, are they any fees once we pay the loan back?
    thanks!

    • Staff
      Shirley | November 13, 2014

      Hi Laura,

      Thanks for your question.

      An exit fee of $160 may apply if you pay back the loan before the loan term ends as set out in your contract. Please get in touch with ANZ to receive a proper quote for this amount.

      Cheers,
      Shirley

  8. Default Gravatar
    Pamella | October 13, 2014

    I have an ANZ breakfree loan and am paying 5.18% interest can I have this lower interest rate? and what it it be for me to change to interest only again or have mixed fixed and variable

    • Staff
      Marc | October 14, 2014

      Hi Pamella,
      thanks for the question.

      This question is best suited to asking ANZ directly. Lenders can sometimes reduce their interest rates if you ask them. There are usually renegotiation fees of $200 – $350 associated with changing the terms of your home loan, but these are waived under the ANZ Breakfree package.

      I hope this helps,
      Marc.

  9. Default Gravatar
    Carolyn | August 24, 2014

    I have a home loan fixed for 12 months breakfree package with ANZ, can I change to interest only without any charges.

    • Staff
      Marc | August 25, 2014

      Hi Carolyn,
      thanks for the question!

      There’s usually a restructuring cost of between $200 and $300 when switching between principal and interest and interest only repayments; however, the Breakfree Package waives these fees.

      I hope this helps,
      Marc.

  10. Default Gravatar
    Yogan | July 14, 2013

    The breakfree information under ANZ website says additional repayments are not allowed.

    Two questions to clarify:

    1. Can we make monthly repayments higher than stipulated to pay off the loan faster?

    2. You are saying lump sum payments are allowed. Is that correct?

    • Staff
      Shirley | July 15, 2013

      Hi Yogan,

      Thanks for your comment.

      The repayment conditions depend on which loan you want to combine into an ANZ Breakfree Home Loan Package.
      For example, if you choose to combine it with the ANZ standard variable home loan, additional repayments are allowed. However, if you combine it with the ANZ fixed rate then there could be early repayment costs.

      Hope this helps,
      Shirley

ANZ Breakfree Home Loan Package

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $395

  • Max LVR

    80%

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