7.4 / 10

based on 102 reviews as rated by Mozo community

abal banking home loans

abal banking, formerly Arab Bank, has been operating in Australia since 1986, with branches in Sydney and Melbourne. Globally, it has over 600 branches across five continents. Property is one of its specialties, so you can feel confident taking out a home loan with abal banking. 

abal banking also snagged two Mozo Experts Choice Awards in 2020 for best Fixed Rate Home Loan and best Investor Fixed Home Loan. 

What home loans do abal banking offer?

Rates and fees verified as correct at 22 January, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If a simple, no-frills home loan is what you’re after, then the fixed rate option from abal banking may just be the one for you. This loan is available for amounts starting at $50,000, up to 95% of the property’s value, for 1-5 year terms. You can choose between weekly, fortnightly or monthly payments, and if you like, you can split your loan between fixed and variable rates. Keep in mind there’s an application and discharge fee to consider. 

abal banking's fixed rate offer was also recognised in our 2020 Mozo Experts Choice Awards as one of the best Fixed Rate Home Loans and best Investor Fixed Home Loans in the market. 

Home loan repayments calculator

years

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

2.30% p.a.

3.27% p.a.

$0.00

$600

2.00% p.a.

3.20% p.a.

$0.00

$600

2.70% p.a.

3.74% p.a.

$0.00

$600

2.40% p.a.

3.66% p.a.

$0.00

$600

Variable Rate Home Loans

If you’d like the benefit of a few more flexible features with your home loan, check out the abal banking variable rate offers. You’ll be able to borrow up to 95% of the property’s value, starting from $50,000, and choose to make repayments weekly, fortnightly or monthly. However for the most competitive variable rates from abal banking, you'll need to have at least a 40% deposit.

In terms of features, there's plenty to enjoy including the ability to take a repayment holiday and make unlimited extra repayments and free redraws, although a hefty minimum amount applies to the latter. The Essentials Home Loan offer also gives borrowers access to an offset account. You’ll pay an application fee, and if you opt for The Basics offer, a monthly service fee as well.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

5.14% p.a.

5.19% p.a.

$0.00

$600

2.70% p.a.

2.74% p.a.

$0.00

$600

5.04% p.a.

5.18% p.a.

$8.00 monthly

$600

2.60% p.a.

2.75% p.a.

$8.00 monthly

$600

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or 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. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

abal banking home loan features in a glance

Free icon

Low deposit

With home loans available with as little as a 5% deposit, abal banking is a great choice if you're struggling to save up a deposit. But just remember that, as with most lenders, if your LVR is above 80%, you’ll need to also pay Lender’s Mortgage Insurance.

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Fee-free extra repayments

Choose a variable rate home loan from abal banking and you’ll be able to make unlimited free extra repayments to save on interest and pay your mortgage off faster. Plus, you'll be able access a redraw facility for free, should you need to dip into those repayments later on, although each redraw must be at least $2,000. 

Repayment Icon

Flexible repayment schedule

You can choose to make repayments monthly, fortnightly or weekly to suit your budget and pay cycle. 

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Repayment holidays 

Perhaps you've encountered some financial headwinds and need a break from paying off your mortgage. If you're ahead on repayments, abal banking's variable rate offers come with repayment holidays to help you get back on your feet. 

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Offset account 

If you opt for the variable rate Essentials home loan, you'll be able to use an offset account to help you save on interest costs. This feature functions like a regular bank account, except any money that you put inside offsets the amount of principal that you pay interest on. Now that's handy!

How are abal banking home loans rated?

Mozo users have rated abal banking home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
abal banking home loans
Overall
7.0/10
Price
Features
Customer service
Convenience
Trust

7 Reviews

Recent abal banking home loan reviews

abal banking Home Loan review
Overall 5/10
Easy everyday account

Only downside is the bank is not well known.

Read full review

Only downside is the bank is not well known.

Price
5/10
Features
5/10
Customer service
7/10
Convenience
7/10
Trust
6/10
Less
James, Victoria, reviewed 7 months ago
abal banking Revolving Line of Credit review
Overall 5/10
Would not recommend

Was not impressed.

Read full review

Was not impressed.

Price
4/10
Features
6/10
Customer service
3/10
Trust
2/10
Less
James, Western Australia, reviewed over 5 years ago
abal banking Home Loan review
Overall 9/10
Great site to use

Great service, have a branch in a small town (this is really valued.) ATM is local and accessible. Staff are great!!! Product is competitive.

Read full review

Great service, have a branch in a small town (this is really valued.) ATM is local and accessible. Staff are great!!! Product is competitive.

Price
8/10
Features
5/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Mozo community reviewer, New South Wales, reviewed over 7 years ago
abal banking Revolving Line of Credit review
Overall 9/10
10/10 for keeping us on the alert.

I rate Adelaide Bank 10/10 for having there Customer service rating acheivable for acuratsy in keeping us on the alert. And for helping us with the mortgage payment. If we are left behind, we can then catch up and keep infront.

Read full review

I rate Adelaide Bank 10/10 for having there Customer service rating acheivable for acuratsy in keeping us on the alert. And for helping us with the mortgage payment. If we are left behind, we can then catch up and keep infront.

Price
7/10
Features
8/10
Customer service
9/10
Convenience
10/10
Trust
10/10
Less
Cecile norris, Queensland, reviewed over 8 years ago
abal banking Home Loan review
Overall 1/10
bad

bad product. a scam

Read full review

bad product. a scam

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Jadin, New South Wales, reviewed over 8 years ago

What do you need to apply for a abal banking home loan?

To apply for an abal banking home loan, you'll need to either visit your local branch or arrange for a home loan specialist to pay you a visit at home or work. Here are a few things you’ll need when you set up an application interview:

  • Identification documents - either a birth certificate, passport or Australian driver's licence, plus your current council rate notice, water rate notice or other document that contains your photograph and residential address  
  • Your last two years’ tax returns
  • Three of your most recent pay slips or an original letter of employment from your employer;
  • Details of your assets, including savings and investments
  • Details of your debts, including credit cards and personal loans
  • Front page of the contract of sale (if you're buying a new property) 
  • Copies of your last six months' loan or transaction statements (if you're refinancing)
  • Land rates notice to prove your ownership of the land (if you're refinancing).

Home loan quick links