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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.40% p.a. |
7.42% p.a. |
$0.00 |
$600 |
||
|
6.50% p.a. |
7.80% p.a. |
$0.00 |
$600 |
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.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
9.39% p.a. |
9.44% p.a. |
$0.00 |
$600 |
||
|
5.90% p.a. |
5.94% p.a. |
$0.00 |
$600 |
||
|
9.29% p.a. |
9.42% p.a. |
$8.00 monthly |
$600 |
||
|
5.75% p.a. |
5.88% p.a. |
$8.00 monthly |
$600 |
||
|
6.30% p.a. |
6.34% p.a. |
$0.00 |
$600 |
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.
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.
You can choose to make repayments monthly, fortnightly or weekly to suit your budget and pay cycle.
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.
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!
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.
7 Reviews
Only downside is the bank is not well known.
Read full reviewOnly downside is the bank is not well known.
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 reviewGreat service, have a branch in a small town (this is really valued.) ATM is local and accessible. Staff are great!!! Product is competitive.
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 reviewI 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.
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: