6.8 / 10

based on 793 Adelaide Bank 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 21 April, 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.

3.13% p.a.

$15.00 monthly

$498

2.40% p.a.

2.99% p.a.

$15.00 monthly

$498

2.94% p.a.

2.93% p.a.

$0.00

$498

2.40% p.a.

2.80% p.a.

$0.00

$498

3.04% p.a.

3.41% p.a.

$15.00 monthly

$498

2.55% p.a.

3.29% p.a.

$15.00 monthly

$498

3.04% p.a.

3.22% p.a.

$0.00

$498

2.55% p.a.

3.10% 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.

3.22% p.a.

$15.00 monthly

$498

2.49% p.a.

2.73% p.a.

$15.00 monthly

$498

3.23% p.a.

3.46% p.a.

$15.00 monthly

$498

2.88% p.a.

3.11% 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

2.49% p.a.

2.53% p.a.

$0.00

$498

2.88% p.a.

2.92% p.a.

$0.00

$498

3.43% p.a.

3.47% p.a.

$0.00

$498

3.09% p.a.

3.32% p.a.

$15.00 monthly

$498

2.79% p.a.

3.02% p.a.

$15.00 monthly

$498

3.23% p.a.

3.46% p.a.

$15.00 monthly

$498

3.23% p.a.

3.46% p.a.

$15.00 monthly

$498

3.09% p.a.

3.13% p.a.

$0.00

$498

2.79% p.a.

2.83% p.a.

$0.00

$498

3.23% p.a.

3.27% 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
6.6/10
Price
Features
Customer service
Convenience
Trust

287 Reviews

Recent Adelaide Bank home loan reviews

Adelaide Bank SmartSaver review
Overall 9/10
Happy customer.

Excellent rates offered on home loan for both personal and investment. Had been easy dealing with customer service. Their online banking app is user friendly.

Read full review

Excellent rates offered on home loan for both personal and investment. Had been easy dealing with customer service. Their online banking app is user friendly.

Price
8/10
Features
9/10
Customer service
7/10
Convenience
10/10
Trust
9/10
Less
Jackie, Victoria, reviewed 5 months ago
Adelaide Bank Home Loan review
Overall 10/10
Adelaide Bank - Care about their customers

Refinanced our home loan with Adelaide Bank mid 2019 for our investment home which will be for our retirement. They have been amazing from the very beginning and throughout COVID-19. Reduced our rate twice without us asking, customer service is excellent. Called us 3 times so far throughout COVID-19 to check on us if we need assistance - you cannot ask for a better bank.

Read full review

Refinanced our home loan with Adelaide Bank mid 2019 for our investment home which will be for our retirement. They have been amazing from the very beginning and throughout COVID-19. Reduced our rate twice without us asking, customer service is excellent. Called us 3 times so far throughout COVID-19 to check on us if we need assistance - you cannot ask for a better bank.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Deborah, New South Wales, reviewed 6 months ago
Adelaide Bank Home Loan review
Overall 1/10
Waste of time and money, Don't bother.

I can honestly say Adelaide (and Bendigo) Bank is the most disfunctional bank I have ever dealt with. After applying for an 80% LVR home loan through one of their affiliated loans channels where I was provided repeated assurances that my financial position passed their credit assessment policy we arranged for valuations, credit assessment and all our documentation to be sent. Once it reached the bank for approval they decided at that point to tell us that they had "additional internal" policies which they did not disclose to either their affiliated loans manager nor us which meant that they could only offer to finance our home loan at an unreasonably low 60% LVR. Even worse, when we tried to engage with the bank to work out compromise options they flat out refused to entertain the idea even after escalating the matter to their executive management team. After struggling to work out a way to fund a 60% LVR loan and coming up with a solution, finally putting through a final application we were then told that the bank wanted us to pay down an additional $140k for an unrelated loan we had in order to qualify for a 60% LVR loan which we were applying for. In summary, this bank managed to waste 3 months of my life by advertising a product which they had no intention of allowing us to qualify for in its advertised form, a clear example of bait advertising, but were happy for us to waste our time and money attempting to 'apply' for. The communication and the way we have been treated throughout the loans process is nothing short of disgraceful and I hope by sharing this review it will help warn others that attempting to do business with this bank is an unnecessary waste of time and money.

Read full review

I can honestly say Adelaide (and Bendigo) Bank is the most disfunctional bank I have ever dealt with. After applying for an 80% LVR home loan through one of their affiliated loans channels where I was provided repeated assurances that my financial position passed their credit assessment policy we arranged for valuations, credit assessment and all our documentation to be sent. Once it reached the bank for approval they decided at that point to tell us that they had "additional internal" policies which they did not disclose to either their affiliated loans manager nor us which meant that they could only offer to finance our home loan at an unreasonably low 60% LVR. Even worse, when we tried to engage with the bank to work out compromise options they flat out refused to entertain the idea even after escalating the matter to their executive management team. After struggling to work out a way to fund a 60% LVR loan and coming up with a solution, finally putting through a final application we were then told that the bank wanted us to pay down an additional $140k for an unrelated loan we had in order to qualify for a 60% LVR loan which we were applying for. In summary, this bank managed to waste 3 months of my life by advertising a product which they had no intention of allowing us to qualify for in its advertised form, a clear example of bait advertising, but were happy for us to waste our time and money attempting to 'apply' for. The communication and the way we have been treated throughout the loans process is nothing short of disgraceful and I hope by sharing this review it will help warn others that attempting to do business with this bank is an unnecessary waste of time and money.

Customer service
1/10
Trust
1/10
Less
Li, New South Wales, reviewed 8 months ago
Adelaide Bank Home Loan review
Overall 3/10
Wouldn't recommend.

Their rates and offset are OK, but their account fees are exorbitant. I'm tired of the $40 dishonour/overdrawn fees. Don't get caught by their EFTPOS fees either :-(

Read full review

Their rates and offset are OK, but their account fees are exorbitant. I'm tired of the $40 dishonour/overdrawn fees. Don't get caught by their EFTPOS fees either :-(

Price
5/10
Features
5/10
Customer service
5/10
Convenience
5/10
Trust
1/10
Less
Tay, New South Wales, reviewed 10 months ago
Adelaide Bank Home Loan review
Overall 4/10
What customer service?

It took 3 months and more emails and phone calls than I can count to refinance my three mortgages. They then gave me a higher rate than promised. Finally they agreed to a lower rate if I fixed my loans but this took more than a month of emails and phone calls. Have dealt with four customer service consultants now and all have lost documents and not returned calls. Customer service is an oxymoron where Mortgagehouse is concerned.

Read full review

It took 3 months and more emails and phone calls than I can count to refinance my three mortgages. They then gave me a higher rate than promised. Finally they agreed to a lower rate if I fixed my loans but this took more than a month of emails and phone calls. Have dealt with four customer service consultants now and all have lost documents and not returned calls. Customer service is an oxymoron where Mortgagehouse is concerned.

Price
8/10
Features
6/10
Customer service
1/10
Convenience
3/10
Trust
1/10
Less
Carol, New South Wales, reviewed 10 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