ANZ home loans

3.5
Based on 4,140 ANZ home loan product reviews.
Fact Checked
Last updated

About ANZ home loans

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ANZ Simplicity Plus home loan review

Simplicity PLUS Special Offer

  • Owner Occupier
  • Principal & Interest
  • LVR 70-80%
Interest rate
6.64 % p.a.
Variable
Comparison rate
6.64 % p.a.
Link not supplied
  • $3,000 cashback for eligible first home buyers

  • $2,000 cashback for eligible refinancers

  • No ongoing fees

  • There’s a $160 settlement fee, although that’s not too expensive relative to other providers

  • No offset account available with the Simplicity PLUS home loan.

Our verdict

Low upfront fees (just $160 for settlement), generous cashback offers, and a competitive interest rate make ANZ’s Simplicity PLUS (Special Offer) a serious contender for first home buyers and refinancers alike. 

Relative to similar Big Four bank home loans, Simplicity PLUS comes with a competitive interest rate of 6.64% p.a. (6.64% p.a. comparison rate*) which, on a $500,000 home loan over 25 years, works out at about $3,420 per month. 

An attractive cashback offer (one of the few still offered by lenders in 2024, according to Mozo data) of $3,000 for eligible first home buyers who borrow at least $250,000 at <80% LVR and settle within 180 days is also a big plus. 

For refinancers moving over to ANZ from another lender (not including ANZ Plus or Suncorp), $2,000 in cashback is on the table, as long as their LVR is below 80% and they settle within 120 days.

There are also no ongoing fees on the Simplicity PLUS loan. However, a settlement fee of $160, a discharge fee of $160, and other fees may apply. 

No ongoing fees can often mean less features and while there isn’t an offset account to speak of, you are able to make extra repayments and use your loan’s redraw facility for free.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 3 November 2024 Important disclosures and comparison rate warning*

ANZ home loans

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    5.74 % p.a.
    Fixed 3 years
    Comparison rate
    6.81 % p.a.
    Initial monthly repayment
    $2,915

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

  • Fixed Rate

    • Investment
    • Principal & Interest
    • LVR <80%
    Interest rate
    5.94 % p.a.
    Fixed 3 years
    Comparison rate
    7.29 % p.a.
    Initial monthly repayment
    $2,978
    Link not supplied

  • Simplicity PLUS Special Offer

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.54 % p.a.
    Variable
    Comparison rate
    6.54 % p.a.
    Initial monthly repayment
    $3,174
    Link not supplied

  • Simplicity PLUS Special Offer

    • Investment
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.69 % p.a.
    Variable
    Comparison rate
    6.69 % p.a.
    Initial monthly repayment
    $3,223
    Link not supplied

  • Standard Variable Rate

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    7.24 % p.a.
    Variable
    Comparison rate
    7.25 % p.a.
    Initial monthly repayment
    $3,407
    Link not supplied

  • Standard Variable Rate

    • Investment
    • Principal & Interest
    • LVR <80%
    Interest rate
    7.84 % p.a.
    Variable
    Comparison rate
    7.85 % p.a.
    Initial monthly repayment
    $3,613
    Link not supplied

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ANZ home loan ratings

Overall customer rating for ANZ home loans

3.5
Based on 4,140 product reviews.

Customer reviews

Important disclosures

ANZ products

FAQs about ANZ home loans

How to redraw on my ANZ home loan

You can redraw the extra repayments you have made towards your home loan using ANZ Internet Banking, by calling ANZ on 1800 077 070, or by submitting a redraw request form that can be downloaded from the bank’s website.

Does ANZ have an offset account?

ANZ only offers offset accounts on the following home loans:

  • ANZ Standard Variable Rate: Optional, $10/month 
  • ANZ Fixed Rate: Optional, $10/month, 1-year fixed terms only.
Which ANZ app do I use to manage my home loan?

The correct app is called ‘ANZ Australia’ if you have a home loan with ANZ. Using the app, you can see details about your home loan, including your interest rate, loan balance, redraw facility balance, and repayments. 

However, if you’re a customer of ANZ Plus, then you’ll need to download the ANZ Plus app. 

What is the difference between ANZ and ANZ Plus?

ANZ Plus is ANZ’s digital banking arm, only accessible through the ANZ Plus mobile app. While ANZ continues to offer more traditional banking through brick and mortar branches and online, ANZ Plus is meant to compete with the likes of CommBank’s digital banking service, Unloan.

Home loan quick links


* 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.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.