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Bank Australia home loans

Bank Australia has home loans for owner-occupiers and investors, with rates starting from 5.99%.

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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 April 2024

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".

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest20% min. depositOwner-occupier
Interest Rate
6.14%
Comparison Rate
6.19%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$914
Principal & InterestInterest only30% min. depositOwner-occupier
Interest Rate
6.14%
Comparison Rate
6.19%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$914
Principal & InterestInterest only30% min. depositOwner-occupier
Interest Rate
6.18%
Comparison Rate
6.51%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$918
Principal & Interest20% min. depositInvestment
Interest Rate
6.34%
Comparison Rate
6.39%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$934
Principal & Interest 1Y Fixed20% min. depositInvestment
Interest Rate
6.29%
Comparison Rate
6.38%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$929
More Info
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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

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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
      DeeJanuary 3, 2018Finder

      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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