Bank Australia home loans

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

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.

The lender 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

    Compare Bank Australia mortgage rates

    Lender
    Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
    FixedMore details

    Basic Home Loan Fixed 1 Year (LVR < 60%)

    FixedMore details

    Basic Home Loan Fixed 5 Year (LVR < 60%)

    VariableMore details

    Basic Home Loan (LVR < 60%)

    VariableMore details

    Basic Home Loan (LVR 60%-70%)

    VariableMore details
    LIMITED TIME OFFER

    Smart Booster Home Loan Discounted Variable - 1yr

    • Fast turnaround times, can meet 30-day settlement
    • No ongoing fees
    • Extra repayments + redraw services
    LIMITED TIME OFFER

    Smart Booster Home Loan Discounted Variable - 1yr

    • Fast turnaround times, can meet 30-day settlement
    • No ongoing fees
    • Extra repayments + redraw services

    Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of October 18, 2021. View disclaimer.

    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.

    It offers both variable and fixed-rate mortgages with interest-only and principal and interest repayment options. Here are some of the lender’s key home loan products:

    • Basic Home Loan: A mortgage 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 mortgage 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 mortgage features

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

      • 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 mortgage (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 mortgage 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.

              Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

              Lender
              Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
              VariableMore details
              LIMITED TIME OFFER

              Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

              • Fast turnaround times, can meet 30-day settlement
              • For purchase and refinance, min 20% deposit
              • No ongoing or monthly fees, add offset for 0.10%
              LIMITED TIME OFFER

              Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

              • Fast turnaround times, can meet 30-day settlement
              • For purchase and refinance, min 20% deposit
              • No ongoing or monthly fees, add offset for 0.10%
              FixedMore details
              NO UPFRONT OR ONGOING FEES

              Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

              NO UPFRONT OR ONGOING FEES
              VariableMore details
              100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

              Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

              • No upfront or ongoing fees
              • 100% full offset account
              • Extra repayments + redraw services
              100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

              Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

              • No upfront or ongoing fees
              • 100% full offset account
              • Extra repayments + redraw services

              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of October 18, 2021. View disclaimer.

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