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Bank Australia open to serve our customers: As an essential service under the shutdowns announced, our branches and contact centres will remain open to serve our customers with their banking needs over the coming days and weeks. All branches will be operating from 10:00am to 3:00pm, Monday to Friday until further notice. You can still get in touch with us by phone on 132 888 from 8:00am to 8:00pm, Monday to Friday and 9:00am to 2:00pm Saturday. It may take us longer to answer your call as more customers choose to call rather than come into a branch so thanks in advance for your patience and please take care of yourselves. View details

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A line of credit allows you to use the equity you've successfully built up in your home to borrow.

Interest rate
4.16% p.a.

effective 4 June 2020

More rates and fees
Variable Rates
Total Lending Interest Rate Comparison Rate
Standard 4.16% p.a. n/a
Fees and Charges
Monthly fee $12.50
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 Line of Credit?

 

Available to new and existing customers for both investment and owner occupied loans.

Provides you a pre-approved limit to ensure you have funds available when investment opportunities arise, without having to re-apply.

A loan that only charges interest on the amount you use.

Ability to make additional lump sum payments and if you need the money again, you can redraw up to your limit at any time.

You'll be able to access funds with the features of our Everyday Access account at a mortgage secured rate.

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
Assessment

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

Approval

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. 

A truly responsible bank can make society better

We use the money our customers deposit to make loans to people, community organisations and businesses that create positive change. When you bank with Bank Australia, you can be confident your money is working towards a positive and more sustainable future. 

That’s why we’re the bank with clean money.

The fine print

* Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval. Rates apply to new applications received from 22/10/2019 however are subject to change at anytime.