based on 15 86 400 banking product reviews as rated by Mozo community

86 400 home loans

86 400 launched in 2019 as one of Australia’s pioneering neobanks, promising ‘smarter banking’ for customers. The company is backed by Cuscal, one of Australia’s leading payments providers, and is also the first among its peers to offer home loans. With a straightforward digital application process and personalised insights to help you pay off your mortgage faster, you won’t be disappointed by the innovative features that come with 86 400 home loans. 86 400 has a full banking licence through NAB.

In 2021, 86 400 was awarded two Mozo Experts Choice Home Loan Awards in the Low Cost and Investor Home Loan categories.

What home loans do 86 400 offer?

Rates and fees verified as correct at 9 December 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

Interested in fixing your home loan rate for 1-5 years? Then the 86 400 Own Home Loan (Fixed) could be worth a look. With this loan, you can borrow up to 80% of the property value, although be mindful your revert rate (once your fixed term ends) will vary depending on your loan-to-value ratio (LVR). 

A unique feature of the 86 400 Own Home Loan (Fixed) is the option to lock in your rate for 90 days from your application date (this comes with a fee). You’ll have other standard perks at your disposal, including the ability to make extra repayments up to $20,000 per fixed rate term and to access a redraw facility for free. There is also the choice to split your loan into fixed and variable rates which, if selected, will enable you to open multiple offset accounts. For this loan, you’ll need to factor in a settlement fee and yearly service fees. 

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments  

3.24% p.a.

2.78% p.a.

$250.00 yearly

$250

3.24% p.a.

2.78% p.a.

$250.00 yearly

$250

3.24% p.a.

2.78% p.a.

$250.00 yearly

$250

2.69% p.a.

2.68% p.a.

$250.00 yearly

$250

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2.69% p.a.

2.68% p.a.

$250.00 yearly

$250

Go to site

2.99% p.a.

3.08% p.a.

$250.00 yearly

$250

Go to site

2.79% p.a.

2.75% p.a.

$250.00 yearly

$250

2.79% p.a.

2.75% p.a.

$250.00 yearly

$250

2.79% p.a.

2.75% p.a.

$250.00 yearly

$250

2.69% p.a.

2.75% p.a.

$250.00 yearly

$250

2.69% p.a.

2.75% p.a.

$250.00 yearly

$250

2.69% p.a.

2.75% p.a.

$250.00 yearly

$250

Variable Rate Home Loans

If you prioritise flexibility in a home loan above all else, then turn your attention to 86 400’s variable rate home loans. 86 400 has two variable loans to cater for different borrower needs: the Neat Home Loan and the Own Home Loan (Variable). 

Both loans offer borrowers interest rates based on their LVR, and allow you to make an unlimited amount of extra repayments and redraws for free. However some of their benefits differ: for instance, the Neat Variable loan comes with a lower rate and repayment holidays, while the Own Variable loan offers borrowers the options to set up multiple offset accounts and to split their loan into fixed and variable rates. As for fees, both home loans charge the same upfront fees, but their other costs vary: the Neat Variable has a discharge fee whereas the Own Variable has an annual service fee to budget for. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

2.29% p.a.

2.30% p.a.

$0.00

$250

2.34% p.a.

2.35% p.a.

$0.00

$250

2.54% p.a.

2.55% p.a.

$0.00

$250

2.09% p.a.

2.10% p.a.

$0.00

$250

2.89% p.a.

2.76% p.a.

$250.00 yearly

$250

2.99% p.a.

2.90% p.a.

$250.00 yearly

$250

3.14% p.a.

2.95% p.a.

$250.00 yearly

$250

2.29% p.a.

2.58% p.a.

$250.00 yearly

$250

2.44% p.a.

2.73% p.a.

$250.00 yearly

$250

2.44% p.a.

2.73% p.a.

$250.00 yearly

$250

2.74% p.a.

3.02% p.a.

$250.00 yearly

$250

2.44% p.a.

2.39% p.a.

$0.00

$250

2.64% p.a.

2.46% p.a.

$0.00

$250

2.44% p.a.

2.33% p.a.

$0.00

$250

2.34% p.a.

2.35% p.a.

$0.00

$250

2.34% p.a.

2.35% p.a.

$0.00

$250

2.24% p.a.

2.25% p.a.

$0.00

$250

2.54% p.a.

2.70% p.a.

$250.00 yearly

$250

2.59% p.a.

2.78% p.a.

$250.00 yearly

$250

2.79% p.a.

2.91% p.a.

$250.00 yearly

$250

2.39% p.a.

2.68% p.a.

$250.00 yearly

$250

2.49% p.a.

2.78% p.a.

$250.00 yearly

$250

2.59% p.a.

2.87% p.a.

$250.00 yearly

$250

86 400 home loan features in a glance

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100% offset account

If you opt for the Own Home Loan, you’ll be able to set up multiple offset accounts via your 86 400 Pay Account or Save Accounts. When used wisely, this feature can go a long way to helping you reduce interest costs. 

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Free extra repayments and redraws

Pay off your home loan sooner by putting free extra repayments towards your mortgage. Just bear in mind extra repayments are capped at $20,000 per fixed rate term for the Own Home Loan (Fixed) while it’s unlimited for the variable loan options. And should you need to access those additional payments down the track, say for a big expense, you can also access a fee-free redraw facility. 

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Flexible repayment schedule 

Match your repayment frequency to pay day. Choose between monthly, fortnightly or weekly repayments, depending on what fits your budget best. 

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Rate lock for 90 days

If you’re happy with the current rate but are worried it’ll go up soon, you can lock it down for 90 days after applying. This feature is exclusive to the 86 400 Own Home Loan (Fixed), and comes with a $500 fee. 

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$2,000 cashback

Are you a refinancer? For a limited time, if you switch to the 86 400 Own Home Loan (fixed or variable) for a loan amount over $250,000, you’ll be able to snag $2,000 in cashback. 

What do you need to apply for a 86 400 home loan?

Applying for a home loan with 86 400 is simple, and involves an online application process. Should you have any questions along the way, 86 400’s customer support team is just a phone call or email away. To apply, you’ll need to have a few details handy:

  • Personal details for each applicant (if necessary)
  • Contact details including a valid email address
  • Proof of salary (i.e. payslips) and evidence of other income including government payments and rental income
  • Statements for any liabilities including credit cards or other existing loans
  • A copy of your council rates notice
  • A copy of your driver's licence or passport
  • Home loan statements (if you’re refinancing).

Before applying, make sure you’re eligible first. To qualify for a 86 400 home loan, you’ll need to:

  • Have at least a 20% deposit, as 84 600’s maximum loan-to-value ratio (LVR) is 80%
  • Be buying or refinancing or a residential property 
  • Be an Australian citizen or permanent resident
  • Have a good credit history
  • Be a PAYG employee.

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