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Customer alert update: Due to a technical issue monthly interest payments have not been paid to Bonus Saver and mySaver accounts. The problem has been identified and the bonus interest payments issue will be resolved overnight (1 June 2020). We will pay bonus interest at the previous interest rates (1.34%p.a. for Bonus Saver or 1.54% for mySaver + 0.01%p.a. base rate) effective to 31 May 2020 to all eligible account holders. The new interest rates announced on 28 May 2020 will now apply from 1 June 2020. The interest payment for May will now appear on your June statement, and in Internet Banking and the App. Again, we are very sorry for the delay in paying your interest and any inconvenience caused. View details

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Interest rate from
2.93% p.a.
Comparison Rate
3.31% p.a.*

effective 31 March 2020

More rates and fees
Variable Rates Loan Only
Total Lending Interest Rate Comparison Rate
Premium Home Loan Reference Rate 4.06% p.a. 4.10% p.a.*
Premium Home Loan Interest Only Rate 4.06% p.a. 4.10% p.a.*
Premium Investment Loan Reference Rate 4.41% p.a. 4.45% p.a.*
Premium Investment Loan (Interest Only) Rate 4.61% p.a. 4.65% p.a.*
Variable Rates w/ Package
Total Lending Discount Interest Rate Comparison Rate
$150,000 - $500,000 (LVR <70%) 1.03% 3.03% p.a. 3.41% p.a.*
$500,000+ (LVR <70%) 1.13% 2.93% p.a. 3.31% p.a.*
$150,000 - $500,000 (LVR 70%-90%) 0.93% 3.13% p.a. 3.51% p.a.*
$500,000+ (LVR 70%-90%) 0.98% 3.08% p.a. 3.46% p.a.*
$150,000 - $500,000 (LVR >90%) 0.58% 3.48% p.a. 3.85% p.a.*
$500,000+ (LVR >90%) 0.63% 3.43% p.a. 3.80% p.a.*
$100,000-$400,000 - Investment P&I 0.80% 3.61% p.a. 3.98% p.a.*
$400,000-$700,000 - Investment P&I 0.90% 3.51% p.a. 3.88% p.a.*
$700,000+ - Investment P&I 1.00% 3.41% p.a. 3.78% p.a.*
$100,000-$400,000 - Investment IO 0.80% 3.81% p.a. 4.13% p.a.*
$400,000-$700,000 - Investment IO 0.90% 3.71% p.a. 4.03% p.a.*
$700,000+ - Investment IO 1.00% 3.61% p.a. 3.93% p.a.*
Fixed Rates Loan Only
Total Lending Interest Rate Comparison Rate
Fixed 1 Year - LVR <80% 2.44% p.a. 3.95% p.a.*
Fixed 2 Year - LVR <80% 2.39% p.a. 3.81% p.a.*
Fixed 3 Year - LVR <80% 2.39% p.a. 3.67% p.a.*
Fixed 5 Year - LVR <80% 3.44% p.a. 3.85% p.a.*
Fixed 1 Year - Investment P&I 2.74% p.a. 4.30% p.a.*
Fixed 2 Years - Investment P&I 2.69% p.a. 4.14% p.a.*
Fixed 3 Years - Investment P&I 2.69% p.a. 4.01% p.a.*
Fixed 5 Years - Investment P&I 3.74% p.a. 4.18% p.a.*
Fixed 1 Year - Investment IO 2.94% p.a. 4.50% p.a.
Fixed 2 Years - Investment IO 2.89% p.a. 4.35% p.a.
Fixed 3 Years - Investment IO 2.89% p.a. 4.22% p.a.
Fixed 5 Years - Investment IO 3.94% p.a. 4.39% p.a.
Fixed Rates w/ Package
Total Lending Discount Interest Rate Comparison Rate
Fixed 1 Year - LVR <70% 1.02% 2.24% p.a. 3.34% p.a.*
Fixed 1 Year - LVR 70-90% 0.97% 2.29% p.a. 3.43% p.a.*
Fixed 1 Year - LVR >90% 0.72% 2.54% p.a. 3.77% p.a.*
Fixed 2 Year - LVR <70% 1.47% 2.19% p.a. 3.27% p.a.*
Fixed 2 Year - LVR 70-90% 1.42% 2.24% p.a. 3.36% p.a.*
Fixed 2 Year - LVR >90% 1.17% 2.49% p.a. 3.68% p.a.*
Fixed 3 Year - LVR <70% 1.47% 2.19% p.a. 3.20% p.a.*
Fixed 3 Year - LVR 70-90% 1.42% 2.24% p.a. 3.29% p.a.*
Fixed 3 Year - LVR >90% 1.17% 2.49% p.a. 3.60% p.a.*
Fixed 5 Year - LVR <70% 0.77% 3.24% p.a. 3.49% p.a.*
Fixed 5 Year - LVR 70-90% 0.72% 3.29% p.a. 3.57% p.a.*
Fixed 5 Year - LVR >90% 0.38% 3.54% p.a. 3.88% p.a.*
Fixed 1 Year - Investment P&I 1.02% 2.59% p.a. 3.89% p.a.*
Fixed 2 Years - Investment P&I 1.37% 2.54% p.a. 3.79% p.a.*
Fixed 3 Years - Investment P&I 1.37% 2.54% p.a. 3.71% p.a.*
Fixed 5 Years - Investment P&I 0.67% 3.59% p.a. 3.97% p.a.*
Fixed 1 Year - Investment IO 0.82% 2.79% p.a. 4.07% p.a.*
Fixed 2 Years - Investment IO 1.17% 2.74% p.a. 3.97% p.a.*
Fixed 3 Years - Investment IO 1.17% 2.74% p.a. 3.88% p.a.*
Fixed 5 Years - Investment IO 0.47% 3.79% p.a. 4.13% p.a.*
Fees and Charges Loan Only
Establishment fee - new mortgage $595
Establishment fee - existing mortgage $295
Discharge fee $250
Offset service fee - per month $8
Fees and Charges w/ Package
Annual package fee $350
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 Premium
Home Loan
package? 

No redraw fee5

There are no fees to redraw.

Fee waived on your everyday banking

Fee waived on Everyday Access or Mortgage Offset accounts.

No annual fee on our Platinum Rewards Visa Credit Card

We'll waive the fee and provide 0% for 12 months on balance transfers. 

No establishment fee for Personal loans and home loan top-ups

We'll waive the establishment fee when taking out a personal loan. 

10% off general insurance products6

Receive a 10% discount across Building, Contents and Comprehensive Motor insurance.

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. 

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?

Calculators

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

Find out more

Eligibility

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. 

The Fine Print

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

IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

  1. Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval. Rates apply to new applications received from 31/03/2020 however are subject to change at anytime.
  2. For construction loans, Bank Australia protects an equivalent amount of land on the Bank Australia Conservation Reserve as is being constructed to help offset the environmental impact of land clearing. Homes constructed on large lots of land such as hobby farms will be offset according to the amount of land occupied by the dwelling.
  3. Annual package fee of $350 is payable in advance and is nonrefundable. The fee is debited to the loan balance on funding, and then annually on the anniversary date of funding. Package benefits cease to apply once the loan is repaid in full. Other fees and charges may be payable. Refer to the Loan Fees schedule available from bankaust.com.au or by calling 132 888 for more details.
  4. 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.
  5. Redraw is not available 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.
  6. Insurance. This insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Bank Australia Limited ABN 21 087 651 607 AFS Licence No. 238431 acts as an agent of Allianz and not as your agent. Before making a decision about this insurance, please refer to the relevant Product Disclosure Statement available on 132 888 or visit bankaust.com.au. 10% discount applies to Building, Contents and Comprehensive Motor insurance, and/or standalone building insurance, when you sign up for this home loan package. Minimum premiums apply. Any discounts/entitlements only apply to the extent that any minimum premium is not reached. If you are eligible for more than one, we also apply each of them in a predetermined order to the premium (excluding applicable taxes and government charges) as reduced by any prior applied discounts/ entitlements.
  7. Allows for Interest Only repayments during property construction period.