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Home loan and credit card packages

These packages offer discounted rates and fees for your home loan, credit card and more. How much could you save?

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A home loan or mortgage package gives you a way to bundle accounts together for a single annual fee. Each package is different, but you can usually get your a waived credit card annual fee when it's part of the bundle.

Depending on the card, that benefit alone could save you hundreds of dollars each year. But there are other features and costs you'll need to weigh up first.

What are mortgage and credit card packages?

A mortgage or home loan package offers discounts and other benefits when you bundle different accounts together, for an annual package fee of around $200-$400.

The biggest benefit you get is an interest rate discount. You generally qualify for an interest rate discount of up to 1%.

Most home loan packages offer to waive the annual fee for a credit card that you add to the bundle, which can save you up to $450 per year depending on the credit card you apply for.

Other benefits can include:

  • no loan establishment fee
  • waived fees for offset accounts and other bank accounts
  • discounted insurance policies on home and contents insurance

Banks that offer home loan and credit card packages

While you can save money and get other value from mortgage packages, they also benefit banks by encouraging you to do more business with them.

The table below includes some of the biggest lenders in Australia that offer credit cards as part of a mortgage package, along with key details about the benefits you can get from each package.

BankKey features
  • Credit card annual fee waived and additional cardholder fee waived
  • Interest rate discount and fee waivers on eligible home loans
  • Monthly account service fee waived on one everyday account
  • Discounts on select insurance premiums and one-off financial planning fees
Bank Australia
  • Waived annual fee for an eligible Bankwest credit card
  • $0 monthly fees for offset accounts
  • $0 home loan application fee and property valuation fees
  • Discounted home loan rate
  • Available for fixed rate or variable rate loans
  • Credit card annual fee reduction or waiver
  • Complimentary international travel insurance
  • Lower interest rates and monthly account fee waivers on eligible home loans
  • Free everyday account, ATM withdrawals and instant global transfers
  • $0 annual fee on an eligible credit card
  • $0 upfront home loan establishment fee
  • $0 monthly home loan service fee
  • Discounted rates for home loans
Macquarie Bank
  • Credit card annual fee waivers for the duration of the home loan
  • Up to 10 offset accounts and unlimited loan accounts
  • Lower variable and/or fixed interest rates
  • Waived credit card annual fee
  • Discounts on home loan variable or fixed interest rates, plus application and monthly service fee waivers
  • Discounts on select insurance products
  • Margin loan interest rate discounts
  • Offset account
Newcastle Permanent
  • $0 annual fee for the Newcastle Permanent Value+ credit card
  • $0 application fees for personal loans and car loans
  • Discounted home loan rates
  • Discounts on car, landlord or home and contents insurance
Suncorp Bank
  • Credit card annual fee and additional cardholder fee waivers for duration of home loan
  • Home loan discounted interest rates, and service and establishment fee waivers
  • Personal loan establishment and account service fee waivers
  • Discounts on home and content insurance
  • Discounted brokerage rates for online share trading
  • Interest rate discounts on margin loans
  • Free consultation with bank’s financial planner
  • Credit card annual fee waiver
  • Discounted fixed or variable interest rates on home loans, as well as loan establishment and service fee reductions or waivers
  • Discounts on select insurance items
  • Bank account-keeping fee waivers
  • Discounts and bonuses on selected wealth products

Tips to help you make the most out of a home loan and credit card package

  • Compare. Other credit card/mortgage providers may be able to offer you a better deal or feature than this seemingly attractive loan package.
  • Consider all inclusions. Make sure that everything included in the package is useful to you, because you might not get full value for your package fee if you’re not utilising the entire package.
  • Check minimum requirements. Some requirements may apply. For instance, some loan packages may stipulate that your home loan be at least $750,000 to qualify.
  • Read the fine print. Familiarise yourself with the main details of the package, since some finer print may reduce the suitability of the package. For example, you may not be able to refinance a loan internally, or enjoy currently advertised discounts on an older loan.
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