Bank Australia home loans

Compare some of Bank Australia’s home loans and features.

Summary

About Bank Australia

Bank Australia was first established in 1957 as CSIRO Co-operative Credit Society, before re-branding to Bank Australia in 2015. Over its history it has unified 72 credit unions, eventually becoming Australia's first customer-owned bank.

Bank Australia has more than 350 staff employed across Australia and has more than 125,000 customers. It offers financial products such as home loans, credit cards, savings accounts, term deposits, personal loans, car loans and insurance.

As part of its responsible banking policy, Bank Australia does not grant loans to the following industries:

  • Fossil Fuels
  • Live exports
  • Gambling
  • Intensive animal farming
  • Weapons
  • Tobacco

What home loans does Bank Australia offer?

Bank Australia offers home loans for a wide range of people, including refinancers, first home buyers and investors.

Bank Australia home loan interest rates

Provider
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
2.85% 2.89% $1,654 More details

Base criteria of: a $400,000 loan amount, variable home loans with an LVR (loan-to-value) ratio of at least 80%. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. *Rates correct as at 01 June 2020. View disclaimer.

Bank Australia offers both variable and fixed-rate home loans with interest-only and principal and interest repayment options. Here are some of Bank Australia's key home loan products:

  • Basic Home Loan: A home loan with a competitive interest rate, flexible payments, no monthly fee and no redraw fee.
  • Premium Home Loan Package: A packaged home loan with discounted interest rates, fee waivers, and discounts on general insurance products.
  • Bridging loan: A home loan for people wanting to buy a new home quickly prior to selling their existing property.
  • Line of Credit: A loan that allows borrowers to use their current equity for borrowing purposes.

Bank Australia home loan features

Bank Australia offers a broad selection of home loan features across select home loans:

  • Flexible payments: make loan repayments weekly, fortnightly, or monthly depending on preferences
  • Unlimited extra repayments: can make extra repayments on basic or premium home loans for free
  • Redraw facility: redraw the extra repayments made on your home loan (available for variable rate loans)
  • Split loans: option to split the home loan into both fixed and variable portions, allowing you to enjoy both the benefits of both.
  • Guarantors: Bank Australia allows a family member to act as a guarantor on the loan

Note: These features are not included on all Bank Australia home loans

How to apply for a Bank Australia home loan

Eligibility criteria

Bank Australia has eligibility criteria for its home loans. Generally, you need to:

  • be above 18 years old,
  • be an Australian citizen or a permanent Australian resident,
  • be employed or earning a regular income,
  • have a good credit history for the past 5 years

If you’re eligible for a Bank Australia home loan you can start your home loan application online by visiting their website.

Documents needed

Bank Australia will require documentation to provide proof of identity, finances and income. You may need to submit the following documents:

  • Asset and liabilities documents such as your savings, superannuation, loan balances, credit card debts, etc.
  • Gross income and net salary after tax.
  • Details of your employment and other income sources.
  • Proof of identification like your driver’s license, Medicare Card, or passport.

bank australia logo

Loading data please wait...

{{returnData.productName}}

Overview

Current Rate

{{returnData.currentRate | percentage:2}}

Comparison Rate*

{{returnData.comparisonRate | percentage:2}}

Rate Type

{{returnData.rateType}}

Advertised Rate

{{returnData.advertisedInterestRate}}

Comparison Rate*

{{returnData.comparisonRate}}

Monthly Repayment

{{returnData.monthlyRepayment}}

Interest Type

{{returnData.interestType}}

Total Interest Rate

{{returnData.totalInterestRate | percentage:2}}

Base Interest Rate

{{returnData.baseInterestRate | percentage:2}}

Bonus Interest Rate

{{returnData.bonusInterestRate | percentage:2}}

Total Interest Rate

{{returnData.totalInterestRate | percentage:2}}

Introductory Rate

{{returnData.introductoryRate | percentage:2}}

Introductory Term

{{returnData.introductoryTerm}}

Base Interest Rate

{{returnData.baseInterestRate | percentage:2}}

Term

{{returnData.term}}

Advertised Interest Rate

{{returnData.advertisedInterestRate | percentage:2}}

Interest Frequency

{{returnData.interestFrequency}}


Fees and Features

Ongoing Annualised Fee

{{returnData.annualFee}}

Upfront Fee

{{returnData.upfrontFee}}

Offset Account

Redraw

Principal & Interest

Interest Only

N/A{{returnData.interestOnly}}

Max loan to value ratio (LVR)

{{returnData.maxLVR | percentage:0}}

Lump sum repayments

N/A

Additional repayments

Maximum Loan Term

{{returnData.maximumLoanTerm}}

Upfront Fee

${{returnData.upfrontFee}}

Ongoing Monthly Fee

{{returnData.ongoingFees}}

Early Repayment Fee Applies

N/A

Vehicle Types

{{returnData.vehicleType}}

Maximum Vehicle Age

{{returnData.maximumVehicleAge}}

Pre Approval Available

N/A

Online Application

N/A

Account Keeping Fee

{{returnData.accountKeepingFee}}

Minimum Monthly Deposit

{{returnData.minMonthlyDeposit}}

Linked Account Required

N/A

Interest Calculated

{{returnData.interestCalculated}}

Interest Paid

{{returnData.interestPaid}}

Online Application

N/A

ATM

N/A

EFTPOS

N/A

Account Keeping Fee

{{returnData.accountKeepingFee}}

Minimum Monthly Deposit

{{returnData.minMonthlyDeposit}}

Linked Account Required

N/A

Interest Calculated

{{returnData.interestCalculated}}

Interest Paid

{{returnData.interestPaid}}

Online Application

N/A

ATM

N/A

EFTPOS

N/A

Minimum Deposit

{{returnData.minDeposit | currency : '$' : 0}}

Upfront Fees

{{returnData.upfrontFee | currency : '$' : 0}}

Annual Fees

{{returnData.annualFee | currency : '$' : 0}}

Notice Period to Withdraw

{{returnData.noticePeriodToWithdraw}}

Online Application

N/A

Automatic Rollover

N/A

Maturity Alert

N/A