Fixed rates for Bank Australia’s Clean Energy Home Loan fall below 2%!
For the first time ever, fixed home loan rates now start with a 1! That’s right, the Bank Australia Clean Energy Home Loan now sits at a rock bottom 1.79% p.a. (3.10% p.a. comparison rate*) for a three year fixed rate home loan. This comes not long after the Reserve Bank’s emergency cash rate cut in mid-March.
Who is eligible for Bank Australia’s Clean Energy Home Loan?
Bank Australia introduced its Clean Energy Home just a few short months ago as an incentive for Australians looking to purchase or build a more environmentally friendly home.
The details of the loan are pretty much the same as Bank Australia’s Premium Home Loan, but with a 0.40% annual interest rate discount if you can meet the relevant criteria. To get the discount, your home will need to achieve a minimum rating under one of the following energy efficiency schemes:
- 7 plus star NatHERS rating (Nationwide House Energy Rating Scheme)
- 7 plus star Residential Efficiency Scorecard (excludes the impact of installed/installing rooftop solar)
- Passive House Certification
- Green Star - Design & As Built v1.2 score 8 points or more on the credit ‘15 Greenhouse Gas Emissions’
Exactly how low are Bank Australia’s fixed rates now?
With Bank Australia’s Clean Energy Home Loan you can opt to fix your rate for 1, 2, 3, or 5 years. Granted you are eligible for the 0.40% annual interest rate discount, fixed rates for owner-occupier, principal and interest loans with an LVR of 70% start from the following low rates:
- 1 year fixed rate - 1.84% p.a. (3.30% p.a. comparison rate*)
- 2 year fixed rate - 1.79% p.a. (3.09% p.a. comparison rate*)
- 3 year fixed rate - 1.79% p.a. (3.10% p.a. comparison rate*)
- 5 year fixed rate - 2.89% p.a. (3.41% p.a. comparison rate*)
In fact, with such low rates, this is the first time ever that fixed home loan rates have fallen to below 2%!^ Plus, if you’re looking to take out a loan with an LVR between 70% and 90% you may still be able to get a loan in the 1% range, with 3 year fixed rates for this size deposit starting from 1.84% p.a. (3.18% p.a. comparison rate*).
Mozo Experts Choice Award winning home loan!
On top of offering some of the lowest fixed home loan rates around, Bank Australia’s Clean Energy Home Loan also won a Mozo Experts Choice Award this year!
Every year Mozo’s team of data experts compare home loans available in Australia to determine which ones really are offering borrowers more competitive rates and lots of useful features. Impressed with the bank’s eco-friendly home loan, our expert judges awarded Bank Australia’s variable rate Clean Energy Home Loan the inaugural Mozo Experts Choice Award for best Green Home Loan.
Is there anything else I should know?
This home loan package comes with a number of extra features including an offset account, the ability to make up to $20,000 worth of extra repayments each year, a free redraw facility and the possibility to apply for repayment holidays.
Of course, as with most premium home loan packages, Bank Australia’s Clean Energy Home Loan does come with an annual fee. So you’ll want to make sure the $350 yearly fee is worth it to access all the extra features and eco interest rate discount.
Keen to check out more fixed rate home loans? With rates falling everyday now might be the time to take stock of what’s out there and you can do just that by heading to Mozo’s compare fixed home loans page.
Compare fixed rate home loans - rates updated daily
Special Offer Fixed Rate Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment
1.99% p.a.
fixed 3 years2.70% p.a.Limited time 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.
Special Offer Fixed Rate Home Loan
Limited time 3 Year Fixed Rate Special Offer for purchase or refinance. Rate lock option available. No monthly or ongoing fees.
- interest rate
- 1.99% p.a.
fixed 3 years
- comparison rate
- 2.70% p.a.
- upfront fees
- $520
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free up to $10,000 p.a.
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $1,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Special Offer Fixed Rate Home Loan
UHomeLoan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment
1.75% p.a.
fixed 3 years2.22% p.a.$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
UHomeLoan
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
- interest rate
- 1.75% p.a.
fixed 3 years
- comparison rate
- 2.22% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free up to $20,000 p.a.
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $100,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $395 Establishment fee waived for fixed rate loans that settle by 30 September 2022. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
comparison rate
Initial monthly repayment
2.09% p.a.
fixed 3 years2.43% p.a.Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
Basic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
- interest rate
- 2.09% p.a.
fixed 3 years
- comparison rate
- 2.43% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 70.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $750,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Basic Home Loan
Special Fixed Rate Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment
1.89% p.a.
fixed 2 years3.67% p.a.Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
Special Fixed Rate Home Loan
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
- interest rate
- 1.89% p.a.
fixed 2 years
- comparison rate
- 3.67% p.a.
- upfront fees
- $0
- Ongoing fees
- $395.00 yearly
- Discharge Fee
- $0.00
- Extra repayments
- yes - free up to $25,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- -
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- $2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 June 2021 and are funded by 31 August 2021, min $250k, LVR
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
Fixed Rate Home Loan
Owner Occupier, Principal & Interest, LVR <80%
interest rate
comparison rate
Initial monthly repayment
1.88% p.a.
fixed 2 years2.86% p.a.Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply).
Fixed Rate Home Loan
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Refinancers borrowing $250,000 or more will receive $3288 (T&Cs, eligibility and lending criteria apply).
- interest rate
- 1.88% p.a.
fixed 2 years
- comparison rate
- 2.86% p.a.
- upfront fees
- $270
- Ongoing fees
- $390.00 yearly
- Discharge Fee
- $300.00
- Extra repayments
- yes - free up to $10,000 p.a.
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $500,000
- maximum borrowing amount
- $7,500,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- Receive $3,288 when you refinance a minimum of $250k for applications from 15 Feb to 30 April 2021, settled by 30 June 2021.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
^This is the first time fixed home loan rates in the Mozo database have fallen to below 2%.
^See information about the Mozo Experts Choice Home Loans Awards
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