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Basic Home Loan

Our Basic Home Loan is anything but, with a low rate and feel-good features.

5.63 % p.a.
Best variable rate
5.63 % p.a.
Comparison rate*
LVR ≤ 70% applies.
ApplyTerms & Conditions apply
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Straightforward home loan for a better planet

You might be starting out or have done this before. Either way, our Basic Home Loan is a new way to look at your property purchasing, refinancing and construction.

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Basic Home Loan variable rates

Finder's Green Bank of the year 2023
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5.63 % p.a.
Variable rate
LVR ≤ 70% applies.
Effective 1 July 2025
T&Cs apply
5.63 % p.a.
Comparison rate*
Based on a loan of $150,000 for 25 years
‍Fees and charges may apply
Comparison rate warning
View full rates table
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Signature features

StarStarStarStarStar
"easy process and really personalised service from my Lending Consultant and both loans are at very competitive interest rates"
Rob from NSW
See more on Product review
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Compare our standard features

Home loans for different needs including our low rate Basic Home Loan, Offset Home Loan, and our reduced rate Clean Energy Home Loan.

Basic Home Loan

Offset Home Loan

Clean Energy Home Loan

Redraw

You can make extra repayments on variable rate loans and access the cash when you need it at no cost with our redraw.

Redraw is not available on fixed rate loans, or if you’re making Interest Only repayments.

Flexible repayments

Make principal and interest repayments weekly, fortnightly or monthly. And make extra repayments for variable rates anytime, with no early repayment penalty.

Cap of $30,000 applies to fixed loans for the term of the fixed rate loan.

Fixed rate lock

When you apply for a fixed interest rate on your home loan, you can lock in the rate until your home loan settles with our rate lock.

100% offset

Link your loan to your transaction account to reduce the amount of interest you pay. It’s our 100% offset with no monthly account keeping fees.

Cap of $20,000 applies to fixed rate loans.

Zero establishment fees

There is no establishment fee on these loans.

No annual card fees

We waive the annual fee on our Platinum Rewards Visa Credit card.

Reduced rates for energy efficiency homes

Eligible customers can receive a reduced variable home loan rate for 5 years, or fixed rate for 3 years with a Clean Energy Home Loan.

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Learn about loan

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Learn about loan

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Learn more about Premium Home Loan package

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Learn more about Clean Energy Home Loan

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Fees and disclosure documents

Fees and charges

Fact sheets and key documentation

Fees and charges

Here’s what to expect with our Basic Home Loan. Be sure to factor in related costs like stamp duty, legal fees, building reports, and insurance.

What it's forAmount
Home loan establishment fee$0
Annual fee$0
Redraw fee$0
Mortgage discharge fee$275 + Government fees

#Establishment fees do not apply to Offset Home Loans.

See our home loan rates and fees for more information.

General advice

Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents below and Target Market Determination before making a decision to apply for products with Bank Australia.

Terms, conditions, fees and charges are applicable as outlined below. See full disclosures.

Product disclosure documents

Home loan calculators

What to expect when you apply

  • You tell us about your situation, including income, expenses and debts – either by phone or online.

    Allow about 20 minutes

  • If it looks good on paper, we offer conditional approval and let you know if we need any documentation.

    Allow 3-7 days

  • Once we verify your credit score and financial position, and conduct a property valuation, you receive formal approval.

    Allow up to 10 days

Apply now

Borrower help for wherever you're at

Need support with your home loan?
Head to our help for more information.

Featured

Electrify Your Home

Switching to all-electric at home can be better for the environment, health and costs. Check out our guides and resources on making this shift.

  • What can you electrify at home?
  • Electric home customer stories
  • Sustainable home tips
Learn about electrifying your home
Above: 7+-star rated home electric stovetop

100%

In support of people and the planet

Customer owned, you have voting rights

Purpose-driven banking

Renewable electricity
powers all offices and branches

Bank Australia employees based in Australia

Certified carbon neutral bank since 2018

Yes, we did start out as the CSIRO Co-operative Credit Society in 1957

Things you need to know

GENERAL ADVICE

  • *Comparison Rate: The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.
  • Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  • Before deciding to apply, we provide and recommend you read our Financial Services Guide.
  • All applications are subject to a credit assessment and approval. All applicable terms and conditions will be included in our loan offer.
  • Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  • Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.
  • This document does not constitute a contract for finance.
  • Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval.
  • Repayment Pause. Loans must be established for a full 12 months and a maximum Loan to Value Ratio of 90% (Family-Pause) or 90% (Eco-Pause) applies. Pausing repayments will result in interest continuing to accrue on the loan, potentially increasing the term of your loan. Full conditions available from Bank Australia.

BASIC HOME LOAN

  1. Minimum new borrowings of $10,000 for an Owner Occupied Home Loan or for an Investment Home Loan, and $10,000 in additional borrowings for further advances to existing home loans.
  2. For all our rates including interest rates for Interest Only payments view our Loan Rates.
  3. Additional fees and charges may be payable - all relevant details will be included in our loan offer.
  4. Fixed Rate Loans. If a Fixed Rate is selected, then that rate may vary from the date of application anytime up until the date of funding, unless a rate lock agreement applies. Additional repayments are capped at $30,000 for the term of the fixed rate loan, and cannot be redrawn. Repayments in excess of the cap may be subject to a Break Fee.
  5. Redraw is not available on home loans with fixed rates, or during the Interest Only period of the loan and the amount available for redraw is governed by the terms set out in your Loan Offer.