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How we picked theseHere are the key features and details you need to know about Australian Military Bank's mortgage products.
| Feature | Details |
|---|---|
| Minimum deposit | It's possible to get a home loan with a deposit as low as 20%. |
| Offset account | You can get an offset account with several Australian Military Bank loans. |
| Repayment options | Many of its home loans allow you to make interest only repayments for a limited period. The lender also offers the standard principal and interest repayments on its loans. |
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
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What is an offset account? It can save you thousands in interest and help you own your home sooner.
Is Australian Military Bank covered by the government $250.000 guarantee, as I am considering them for my savings.
Regards
Niels
Hi Niels,
thanks for the question.
Australian Military Bank is covered by the government guarantee on the following accounts:
– Savings accounts: 100% Mortgage Offset, Access, Junior Access, Star Saver Direct, Online Saver, Cash Management, Recruit Salary Saver, Mess Account and Christmas Club.
– All term deposits
– Retirement accounts: DIY Super Saver, Deeming Access, Capital Guaranteed Super and Capital Guaranteed Pension.
I hope this helps,
Marc.