Up is a digital bank that launched in 2018 through a partnership between Bendigo Bank and software development company Ferocia. Up offers fixed and variable rate home loans for new buyers and refinancers.
Compare Up home loans for July 2024
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Here are the key features and details you need to know about Up Home:
Feature
Details
Eligibility
Up Home is currently available for owner-occupiers, including new home buyers and refinancers. Your property needs to be located in a capital city or major regional centre.
Offset accounts
You can have up to 50 free offset accounts. If you bank with Up already, your transaction account and savings account can act as offset accounts so that you save money on the interest you pay.
Fees
There are no application or setup fees, no monthly or annual bank fees, no redraw fees and no discharge fees. Up also pays towards valuation costs.
Repayment options
Up Home allows you to make unlimited additional repayments on its loans.
How do I apply for an Up home loan?
All Up products, including loans, are offered through the bank's smartphone app. You can download the app from the Play Store or App store, or via Up's website.
Up can assess loans quickly using its digital application tools.
Eligibility
In its current phase, you might be eligible for Up Home if:
You're an Australian citizen or permanent resident who lives in Australia (must have 2 forms of government ID)
Your property is in a capital city or major regional centre
You have at least a 10% deposit (or equity in the property if refinancing)
Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio
Rebecca's expertise
Rebecca has written 184 Finder guides across topics including:
Learn more about Up home, a variable home loan from Up.
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