Bank Australia

Bank Australia home loans

Green Company

Bank Australia has home loans for owner-occupiers and investors, with rates starting from 2.2%.

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Bank Australia is a customer-owned bank. Check out the full table of Bank Australia products below or read more about the lender and its loans.

Compare Bank Australia home loans for October 2021

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$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

Bank Australia Basic Fixed Home Loan P&IHome 3Y Fixed≥ 20% Deposit

Bank Australia Basic Fixed Home Loan
2.20%
2.47%
  • App: $595
  • Ongoing: $0 p.a.
$571

Bank Australia Premium Home Loan Package P&IInvestment 3Y Fixed≥ 20% Deposit

Bank Australia Premium Home Loan Package
2.40%
3.09%
  • App: $0
  • Ongoing: $350 p.a.
$587

Bank Australia Basic Variable Home Loan P&IHome≥ 30% Deposit

Bank Australia Basic Variable Home Loan
2.40%
2.44%
  • App: $595
  • Ongoing: $0 p.a.
$587
This special rate mortgage has no ongoing fees and offers flexible repayments.

Bank Australia Premium Home Loan Package P&IInvestment 2Y Fixed≥ 20% Deposit

Bank Australia Premium Home Loan Package
2.40%
3.12%
  • App: $0
  • Ongoing: $350 p.a.
$587
A 2 year fixed loan for borrowers looking to fund their investment property purchase.

Bank Australia Basic Variable Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Bank Australia Basic Variable Home Loan
2.20%
2.49%
  • App: $595
  • Ongoing: $0 p.a.
$571
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Bank Australia key facts

  • Bank Australia's most competitive rates are for its clean energy home loans, but you need to buy or build a home that meets certain sustainability standards.
  • Bank Australia has branches across Victoria and at least one branch in NSW, QLD, the ACT and SA.
  • You need at least a 20% deposit for a Bank Australia home loan, so borrowers with small deposits may not qualify.

Review by our senior home loans writer Richard Whitten

Bank Australia home loan features

Here are the key features and details you need to know about Bank Australia's mortgage products.

FeatureDetails
Customer-owned bankBank Australia is owned by its members. This means it can re-invest profits and pass on the savings to customers rather than shareholders.
Minimum depositBank Australia loans have 80% maximum LVRs. This means you can borrow up to 80% with a Bank Australia mortgage. There are no loans for borrowers with low deposits (that is, deposits below 20%).
Offset accountIf you want a Bank Australia loan with an offset account then consider its premium package loans.
FeesMost Bank Australia loans have an upfront application fee.
Repayment optionsBoth Bank Australia's fixed and variable rate 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.

How do I apply for a Bank Australia mortgage?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

Each Bank Australia product has specific eligibility criteria but some will apply to all products. For example:

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Bank Australia you are required to provide certain information, so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 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).

How to apply for a home loan

Lenders like Bank Australia

If you want to compare loans from similar lenders to Bank Australia then you can start with these customer-owned banks and credit unions.

More home loan questions

More guides on Finder

  • Bank Australia Premium Home Loan Package

    With a discounted interest rate and the choice of a fixed or variable rate, the Bank Australia Premium Home Loan Package has a long list of features.

  • Bank Australia Fixed Rate Home Loan

    Fixed interest rate loans give you a defence against rising interest rates. You can choose to have a one, two or three-year fixed interest rate period with the Bank Australia Fixed Rate home loan.

  • Bank Australia Premium Home Loan

    The features of the Premium Home Loan make for a flexible, no-frills option for buying a home or other investment purposes.

  • Bank Australia Bridging Loan

    The Bank Australia Bridging Loan is suitable for property investors and owner-occupiers thanks to its competitive interest rates and features. You don’t have to wait until your current property is sold to acquire a new one.

  • Bank Australia Basic Home Loan

    Bank Australia’s Basic Home Loan is an option for those on a tight budget, but still looking to borrow money for a new home. This flexible loan offers a competitive interest rate, no monthly fee, repayment and redraw capabilities.

  • Bank Australia Line of Credit

    If you’re short on cash and need to finance a project such as buying new furniture or even taking a holiday, a Bank Australia Line of Credit may be able to help. A Bank Australia Line of Credit offers a competitive interest rate, flexible repayment options and the ability to make extra repayments. However, before deciding on whether this is the right loan for you, compare your options on finder.com.au.

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2 Responses

    Default Gravatar
    RonJanuary 2, 2018

    Do you have personal loans , To pay off all my other debts . and at what interest

      Avatarfinder Customer Care
      DeeJanuary 3, 2018Staff

      Hi Ron,

      Thanks for your question.

      If you are looking to consolidate your debts, you refer to our list of personal loans for consolidation to compare your options. The interest rate varies per lender and you can check these details in our comparison table. The lowest comparison rate that I can see is at 9.36%p.a.

      Once you have chosen a particular lender, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with your loan application or get in touch with their representatives for further assistance. Please be mindful of the eligibility criteria for each loan before submitting your application.

      Cheers,
      Anndy

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