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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.
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "more info".
Review by our senior home loans writer Richard Whitten
Here are the key features and details you need to know about Bank Australia's mortgage products.
| Feature | Details |
|---|---|
| Customer-owned bank | Bank Australia is owned by its members. This means it can re-invest profits and pass on the savings to customers rather than shareholders. |
| Minimum deposit | Bank 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 account | If you want a Bank Australia loan with an offset account then consider its premium package loans. |
| Fees | Most Bank Australia loans have an upfront application fee. |
| Repayment options | Both 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. |
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.
Each Bank Australia product has specific eligibility criteria but some will apply to all products. For example:
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).
If you want to compare loans from similar lenders to Bank Australia then you can start with these customer-owned banks and credit unions.
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.
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.
The features of the Premium Home Loan make for a flexible, no-frills option for buying a home or other investment purposes.
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’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.
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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Do you have personal loans , To pay off all my other debts . and at what interest
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