based on 800 Adelaide Bank banking product reviews as rated by Mozo community

Adelaide Bank home loans

As one of Australia's largest retail banks, Adelaide Bank began in 1994 as an offspring of the Co-operative Building Society of South Australia (the country's biggest building society at the time). 

In 2007, it merged with Bendigo Bank and it's now the dedicated intermediary lending branch of the merged organisation. That means when you take out a home loan with Adelaide Bank, you can rest assured you're in the hands of experienced and devoted mortgage professionals.

What home loans do Adelaide Bank offer?

Rates and fees verified as correct at 24 October, 2021. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If you’re after the security of fixed rates but also want a range of flexible features in your back pocket, then check out the fixed rate home loan on offer from Adelaide Bank. Available for up to 95% of the property’s value, for loan amounts ranging from $10,000 up to $5 million, this home loan allows borrowers to secure competitive rates over 1-5 year terms. It also comes with plenty of perks: free extra repayments up to $20,000 p.a., free redraws (minimum $1 applies), and even access to an offset account. You can also choose to split your loan between fixed and variable interest rates. 

With this sort of versatility under its belt, it's little wonder why Adelaide Bank's SmartFix won two 2020 Mozo Experts Choice Awards for best Fixed Rate Loan and best Split Home Loan. For this loan, you’ll need to budget for application, settlement and monthly service fees, as well as a discharge fee. 

Home loan repayments calculator

years

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

2.94% p.a.

3.06% p.a.

$15.00 monthly

$498

2.40% p.a.

2.93% p.a.

$15.00 monthly

$498

2.94% p.a.

2.87% p.a.

$0.00

$498

2.40% p.a.

2.73% p.a.

$0.00

$498

3.04% p.a.

3.20% p.a.

$15.00 monthly

$498

2.55% p.a.

3.11% p.a.

$15.00 monthly

$498

3.04% p.a.

3.00% p.a.

$0.00

$498

2.55% p.a.

2.92% p.a.

$0.00

$498

Variable Rate Home Loans

For borrowers who want even more flexibility, the Adelaide Bank variable rate options could be a good place to look. Both loans are available for amounts starting at $10,000 and you can borrow up to 95% of the property's value. For both, you also have the option to split your loan between fixed and variable rates, as well as make unlimited free extra repayments and free redraws ($1 minimum applies). 

However there are a few differences between the two variable rate products. Opt for the SmartFit home loan offer and you’ll also have the use of an offset account, while the SmartSaver lacks this feature. But as a result, the SmartSaver charges zero ongoing service fees whereas the Smartfit comes with a $15 monthly fee. Like the fixed rate alternative, you’ll need to pay application, settlement and discharge fees regardless of which variable rate loan you pick.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

2.99% p.a.

2.73% p.a.

$15.00 monthly

$498

2.24% p.a.

2.48% p.a.

$15.00 monthly

$498

3.23% p.a.

3.16% p.a.

$15.00 monthly

$498

2.79% p.a.

3.02% p.a.

$15.00 monthly

$498

3.43% p.a.

3.66% p.a.

$15.00 monthly

$498

2.99% p.a.

3.03% p.a.

$0.00

$498

2.24% p.a.

2.28% p.a.

$0.00

$498

2.79% p.a.

2.83% p.a.

$0.00

$498

3.43% p.a.

3.47% p.a.

$0.00

$498

2.78% p.a.

3.01% p.a.

$15.00 monthly

$498

2.38% p.a.

2.62% p.a.

$15.00 monthly

$498

3.23% p.a.

3.46% p.a.

$15.00 monthly

$498

2.99% p.a.

3.22% p.a.

$15.00 monthly

$498

2.78% p.a.

2.82% p.a.

$0.00

$498

2.38% p.a.

2.42% p.a.

$0.00

$498

2.99% p.a.

3.03% p.a.

$0.00

$498

Adelaide Bank home loan features in a glance

Offset icon

Offset account

You’ll have access to an offset account with any Adelaide Bank home loan, except for the variable rate SmartSaver offer. This is a handy feature that can help you cut down significantly on interest costs. For instance, if your loan amount is $700,000 and you park $100,000 inside your offset account, then you'll only need to pay interest on $600,000. 

Image of coins

Fee-free extra repayments

Pay off your home loan faster and save on interest by making free additional repayments. Just remember that for Adelaide Bank, these extra repayments are capped at $20,000 p.a. on fixed terms but unlimited for variable rate offers. Should you need to withdraw those payments later on, you'll also be able to make fee-free redraws, as long as each redraw exceeds $1.

Account icon

Split account

Can't decide whether you prefer the flexibility of a variable rate loan or the security of a fixed rate loan? Why not both? All of Adelaide Bank's home loans offer you the ability to split your loan into fixed and variable rates. 

Schedule icon

Flexible repayment schedule

Make your repayments monthly, fortnightly or weekly - whatever suits your budget best!

Image of coins

Accepts smaller deposits

Saving up for a 20% deposit can be challenging for any first home buyer, which is why Adelaide Bank has lowered the barriers of entry. Its fixed rate loan allows you to borrow up to 95% of the property value, while its variable rate offers give you the option to borrow up to 90%. Just be mindful that if you don't have a guarantor while taking out a low-deposit loan, you may need to account for an extra cost known as Lenders Mortgage Insurance

How are Adelaide Bank home loans rated?

Mozo users have rated Adelaide Bank 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
Adelaide Bank home loans
Overall
Price
Features
Customer service
Convenience
Trust

292 Reviews

Recent Adelaide Bank home loan reviews

Adelaide Bank Home Loan
Overall 1/10
Don't trust the bank and its employees

Worst bank ever to process home loan application for refinancing if you are existing customer. 4 and half months in and bank still coming up with lot of lies about deadlines.

Read full review

Worst bank ever to process home loan application for refinancing if you are existing customer. 4 and half months in and bank still coming up with lot of lies about deadlines.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Hopefull, South Australia, reviewed 2 months ago
Adelaide Bank Home Loan
Overall 1/10
Not a modern bank

The online banking system is ancient. I sent two emails to customer service about issues I had concerning my account and didn't even get a response.

Read full review

The online banking system is ancient. I sent two emails to customer service about issues I had concerning my account and didn't even get a response.

Price
5/10
Features
5/10
Customer service
1/10
Convenience
1/10
Trust
5/10
Less
Jackson, New South Wales, reviewed 2 months ago
Adelaide Bank SmartFix
Overall 1/10
Rude and inconsiderate

The account setups was a disaster and confusing not to mentioned staffs themselves were not able to assist us on a numerous occasions, the rates charged was way too high, staff members were rude and not friendly. We’re now in the process of looking to refinance with another lender, I wouldn’t recommend Mortgage House or Adelaide Bank to anybody who is buying a house preferably big bank a lot better as I would rather pay more and get a better customer service and get treated rudely.

Read full review

The account setups was a disaster and confusing not to mentioned staffs themselves were not able to assist us on a numerous occasions, the rates charged was way too high, staff members were rude and not friendly. We’re now in the process of looking to refinance with another lender, I wouldn’t recommend Mortgage House or Adelaide Bank to anybody who is buying a house preferably big bank a lot better as I would rather pay more and get a better customer service and get treated rudely.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Kim, New South Wales, reviewed 3 months ago
Adelaide Bank Home Loan
Overall 1/10
Good initially but..........

After returning my signed documents to Tic Toc lawyers and not hearing anything, I chased up with them what is happening only to be told that the paperwork had been sent to my settlement agent. As I had not been advised that I needed to get an agent prior to finalising so therefore there was no agent, I asked what would have happened if I had not chased up the delay. The online chat told me that I had to have a conveyancing officer which I argued it was not a legal requirement but rather just the "easiest" way to complete the transaction. It is obvious that once Tic Toc get the commission from signing up a customer to Adelaide Bank they forget about them.

Read full review

After returning my signed documents to Tic Toc lawyers and not hearing anything, I chased up with them what is happening only to be told that the paperwork had been sent to my settlement agent. As I had not been advised that I needed to get an agent prior to finalising so therefore there was no agent, I asked what would have happened if I had not chased up the delay. The online chat told me that I had to have a conveyancing officer which I argued it was not a legal requirement but rather just the "easiest" way to complete the transaction. It is obvious that once Tic Toc get the commission from signing up a customer to Adelaide Bank they forget about them.

Price
8/10
Features
5/10
Customer service
1/10
Convenience
5/10
Trust
1/10
Less
Richard, Western Australia, reviewed 3 months ago
Adelaide Bank Home Loan
Overall 1/10
Absolute rubbish.

Worst home loan experience ever. They moved the benchmark, constantly asked for more documentation, were never available when I wanted to speak to them and were incredibly rude on the phone. They made me feel like I was a second rate citizen and terrible financial prospect despite owning 2 homes and selling my current one. Would never recommend this bank to anyone.

Read full review

Worst home loan experience ever. They moved the benchmark, constantly asked for more documentation, were never available when I wanted to speak to them and were incredibly rude on the phone. They made me feel like I was a second rate citizen and terrible financial prospect despite owning 2 homes and selling my current one. Would never recommend this bank to anyone.

Price
3/10
Features
3/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Natasha, New South Wales, reviewed 6 months ago

What do you need to apply for a Adelaide Bank home loan?

To apply for a home loan with Adelaide Bank, you'll need to apply online or in-branch and set up an interview with one of the 5000+ mortgage brokers affiliated with the bank. They’ll help you sort out your application, and for that, you’ll need to:

  • know your gross annual income
  • know the figure of any other income you earn
  • provide details of your assets (such as savings accounts, property or shares)
  • provide a list of your liabilities (including things like credit cards and personal loans)
  • provide previous home loan statements (if you're a refinancer). 

Home loan quick links