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Planned outage: The outage will start on Saturday 18 at 9pm and finish on Sunday 19 at 8am. During this time, you'll be unable to apply for accounts, home loans or credit cards during the outage. 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
4.41% p.a.

effective 22 October 2019

More rates and fees
Variable Rates
Total Lending Interest Rate Comparison Rate
Standard 4.41% 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?

 

Currently only available to new customers for investment purposes

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.