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Interest rate from
2.85% p.a.^
Comparison Rate
2.89% p.a.*

effective 31 March 2020

More rates and fees
Variable Rates
Total Lending Interest Rate Comparison Rate
Special LVR <90% $150K+ 2.85% p.a.^ 2.89% p.a.*
Standard 3.20% p.a. 3.24% p.a.*
Invest Special - P&I LVR <90% $200K+ 3.00% p.a. 3.04% p.a.*
Investment P&I 3.41% p.a. 3.45% p.a.*
Invest Special - IO LVR <90% $200K+ 3.20% p.a. 3.55% p.a.*
Investment IO 3.71% p.a. 3.75% p.a.*
Fixed Rates
Total Lending Interest Rate Comparison Rate
Fixed 1 Year 2.34% p.a. 3.17% p.a.*
Fixed 2 Years 2.29% p.a. 3.09% p.a.*
Fixed 3 Years 2.29% p.a. 3.02% p.a.*
Fixed 5 Years 3.34% p.a. 3.30% p.a.*
Fixed 1 Year - Investment P&I 2.64% p.a. 3.38% p.a.*
Fixed 2 Years - Investment P&I 2.59% p.a. 3.31% p.a.*
Fixed 3 Years - Investment P&I 2.59% p.a. 3.25% p.a.*
Fixed 5 Years - Investment P&I 3.64% p.a. 3.55% p.a.*
Fixed 1 Year - Investment IO 2.84% p.a. 3.67% p.a.*
Fixed 2 Years - Investment IO 2.79% p.a. 3.59% p.a.*
Fixed 3 Years - Investment IO 2.79% p.a. 3.52% p.a.*
Fixed 5 Years - Investment IO 3.84% p.a. 3.80% p.a.*
Fees and Charges
Establishment fee - new mortgage $595**
Establishment fee - existing mortgage $295
Discharge fee $250

The bank with clean money is the bank Australia needs.

What does your bank invest in?

 If the answer includes fossil fuels, weapons, tobacco or gambling, it's likely that the interest you are paying on your home loan is supporting these industries.

Divestment makes a difference

If more people move their banking and home loans to banks that don’t fund harmful industries such as the fossil fuel industry, we’ll be able to create a safe and sustainable climate future for our local communities, Australia and the rest of the world. 

You can help make a positive difference

By moving your banking to Bank Australia, you are ensuring your money isn’t supporting the fossil fuel industry or industries that harm people and the planet. 

Why choose
our Basic
Home Loan?

No monthly fee 

No monthly account fees throughout the duration of your loan. 

No redraw fee1

If you're ahead of your repayments, you may be able to redraw fee free. 

Flexible payments

Make your loan repayments weekly, fortnightly or monthly.  

Construction loan offset

We protect an equivalent amount of land on the Bank Australia Conservation Reserve as is being constructed to help offset the environmental impact of land clearing.

A great low variable interest rate

Our Basic Special variable interest rate of 2.85% is our lowest variable interest rate currently on offer. It is available for Principal and Interest repayments with a maximum 90% LVR (including Lender’s Mortgage Insurance# premium). Minimum new borrowings of $150,000 applies to new and existing borrowers who:

  • submit their loan application on or after 21 February 2020 but before 30 June 2020; and
  • settle on their Bank Australia home loan by 30 October 2020.

Establishment fee of $595 to new borrowers and $295 for existing borrowers.

LVR stands for Loan to Value Ratio. It is the percentage of money you borrow for a home loan compared to the value of the property (decided by Bank Australia at assessment). For example, if your property was valued at $800,000 and your loan amount was $540,000, your LVR would be 68%.

Applying online is easy. 

Here's how...

What we'll need from you 

Along with your application, we'll need information about your financial details including income, expenses, what you own and what you owe.

If you are not an existing customer, we can verify your identity online using the following ID's:

  • Australian Drivers Licence 
  • Australian Passport 
  • Australian Medicare card

We take responsible lending seriously, meaning that we are very careful in making sure you have the capacity to repay a loan. 


We make our loan application process easier by issuing and managing documents online. When you're approved, a member of our lending team will send through the contract ready for you to review. 

Flexible home loans to suit your changing situation

We understand life changes, explore our options for pausing your home loan.

Parental Pause

We offer the option of pausing your home loan repayments to give you some breathing space to prepare or welcome a new family member.

Conditions apply.

Find out more

Eco Pause

We let customers pause their home loan repayments to pay for eco-upgrades like solar, batteries, water tanks and grey water systems.

Conditions apply.

Find out more

Want more information?


Explore our range of calculators to work out your repayments, compare loans and more. 

Find out more


When submitting your application, you will need to confirm:

  • You are at least 18 years of age.
  • You are an Australian Citizen or permanent resident of Australia.
  • Your are currently in receipt of regular income. 
  • You have maintained a good credit history for the past 5 years. 

What you'll need to complete a pre-check: 

  • Income - gross (before tax) and net salary (after tax), employment details and other income (from shares, rental property, etc.)
  • Assets - approximate values of property, vehicles, savings, superannuation, etc.
  • Liabilities - loan balances, repayment amounts, credit card or overdraft limits, etc.

To complete the full application, you will need a form of ID if you're not a Bank Australia customer. To verify your identify online please have one or more of these documents with you:

  • Australian Drivers Licence
  • Australian Medicare card
  • Passport
Explore our home buying hub

Want more information about buying a home? Explore our home buying hub. 

Things you need to know

  • 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. Terms and conditions apply. 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.

*Comparison Rate. The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.

IMPORTANT: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^The Basic Special variable interest rate of 2.85% for Principal and Interest repayments with a Loan to Value (LVR) ratio of less than 90% (including the Lender’s Mortgage Insurance premium).  Minimum new borrowings of $150,000. Available to new and existing borrowers:

  • who submit their loan application on or after 21 February 2020 but before 30 June 2020; and
  • settle on their Bank Australia home loan by 30 October 2020.

For all our rates including interest rates for Interest Only payments view our Loan Rates.

  1. Redraw not available during an interest only or fixed period.