UBank Home Loans

Read on to compare some of UBank’s key home loan interest rates and the key features they have.

ubank logo

Compare UBank home loan rates

Provider
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 

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 August 2020.

About UBank

UBank is an online-only lender launched in 2008 as a division of National Australia Bank (NAB). As an online bank, UBank has no physical branches.

Other than mortgages, UBank also offers other financial products and services such as savings accounts, term deposits and SMSF accounts.

UBank home loan interest rates

UBank has a range of home loans for both owner-occupiers and property investors, offering fixed and variable rates as well as principal & interest and interest-only repayment options.

You can find a complete list of UBank’s home loan rates here.

Some of UBank’s key home loan products include:

  • Variable UHomeLoan: A variable home loan with unlimited redraws and no application fees or ongoing fees
  • Fixed UHomeLoan: A fixed-rate home loan for one to five years with no ongoing fees and 20% minimum deposit

UBank home loan features

UBank offers a variety of home loan features, such as:

  • No ongoing fees: UBank variable home loans have no ongoing fees or application fees
  • Flexible payments: UBank allows you to make weekly, fortnightly, or monthly loan repayments on a number of its loans
  • Split loans: You can split your home loan between fixed and variable interest rates up to four times with a minimum split of $20,000
  • Unlimited redraws: UBank’s variable home loans have no limit on redraws of extra repayments
  • Flexible & convenient online banking: UBank offers a range of online features for your convenience, including an online application tracker and a “digital human” application assistant called Mia
  • Discounts for loyalty: If you’ve held your UBank home loan for three straight years (or stay after your fixed-rate expires), you can get a 0.10% point loyalty discount off your variable rate.

How to apply for a UBank home loan

Eligibility criteria

To apply for a UBank home loan you must meet their lending criteria:

  • You must be 18 years of age or older
  • You must be an Australian or New Zealand citizen or Australian
  • Permanent Resident
  • You must be residing in Australia and have an Australian mobile number
  • You must have an email address
  • You must be outside your probationary period of employment
  • You must be buying a house or unit that’s at least 50sqm
  • You must be purchasing or refinancing an established property

Since UBank is an online-only lender, you can apply for a UBank home loan via their website

Documents needed

Applying for a UBank home loan will require you to submit certain documents such as:

  • Proof of identity validating your name, address and birth date. This can be your passport, Medicare card, driver’s license etc.
  • Details of your ongoing monthly expenses such as food expenses, childcare, clothing, transport etc.
  • Saving accounts statements
  • Proof of ongoing rent or board
  • Assets and liability documents
  • If you are an employee they will typically require two recent payslips and the most recent payment summary or tax return
  • If you are self-employee they will typically require the last two years’ of company tax returns

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