These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
Bank Australia is a customer-owned bank.
Its 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.
Compare Bank Australia home loans for December 2025
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Bank Australia home loan features
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.
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
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).
To make sure you find the right Bank Australia loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Are you comfortable applying online? Because Bank Australia is an online lender you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan. Bank Australia has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes altogether?
What features do you need? You need to decide whether you want features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Because Bank Australia is an authorised deposit-taking institution (ADI). This means customers with money deposited in a Bank Australia savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
What is Finder Score?
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
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Do you have personal loans , To pay off all my other debts . and at what interest
Finder
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.
Think you need a 20% deposit to buy a home? Think again. We break down no deposit home loans: how they work, who offers them, and what to watch out for.
Home loan cashback deals can help you refinance to a cheaper interest rate and get a lump sum cash payment. Compare the latest deals and check your eligibility today.
What is an offset account? It can save you thousands in interest and help you own your home sooner.
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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