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Bank Australia open to serve our customers: As an essential service our branches and contact centre remain open to serve our customers with their banking needs during the COVID-19 pandemic. Please use the 'find us' function to view your nearest branch's current operating hours. 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




First home loan deposit scheme

First Home Loan Deposit Scheme update:

Unfortunately, we’ve filled all of our spots for the First Home Loan Deposit Scheme (FHLDS) allocation. This applies to all banks participating in the FHLDS, including Bank Australia. If you would like further information about this you can speak to one of our lending consultants by calling 132 888 and selecting option 3.

Bank Australia is helping first home buyers as an approved lender for the Federal Government’s First Home Loan Deposit Scheme.

You could be a home owner before you know it.  

We know how hard it is to save for a deposit when you’re renting, working and studying. That’s why we’ve signed on as an approved lender to the Government’s new first home buyer initiative, the ‘First Home Loan Deposit Scheme’.

The First Home Loan Deposit Scheme allows eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5%. The scheme removes the (often significant) cost of Lender’s Mortgage Insurance (LMI) which is something you would usually pay if you have a deposit of less than 20%.

You can check your eligibility below or head to the Government’s website quiz to answer a series of questions.

If you have any questions, call us on 132 888.

To be eligible, you need to tick a few boxes. Here’s the requirements we need about you: 

  • You are purchasing a home to live in yourself or with your spouse or de factor partner
  • You’re a first home buyer
  • You’re aged over 18
  • You’re an Australian citizen
  • You earn less than $125k in a tax year or, as a couple, $200K

There’s also a few other requirements, depending on what you want to buy. These include:

  • The property you want to purchase is a residential property
  • If you’re building, the loan also includes construction costs to build a residential property on the land you want to buy
  • You stay under the price caps for each state and region. For example, if you live in metropolitan Melbourne, the price cap is $600k.
  • You must apply for a Principal and Interest loan (no Interest-Only loans)

By taking out a home loan with us you'll be part of a customer-owned bank that delivers better value for customers and the positive projects they believe in.

Our profits are returned to customers through better rates and fees, and our investments are used to create positive social and environmental change – such as through our Impact Fund, where we donate 4% of our after-tax profits. Learn more about us

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

Joining a bank that doesn't fund harmful industries, such as fossil fuels, is a tangible step towards a more sustainable future.

You can help make a positive impact

By moving your money to Bank Australia, you’re ensuring your money is part of funding a future aligned to your values: renewable energy, not for profits, sustainable and affordable housing and much 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.