Aussie home loans

3.4
Based on 186 Aussie home loan product reviews.
Fact Checked
Last updated

About Aussie home loans 

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Aussie Select Basic Variable home loan review

Select Basic Variable

  • LVR 70-80%
  • Owner Occupier
  • Principal & Interest
Interest rate
6.14 % p.a.
Variable
Comparison rate
6.17 % p.a.
Link not supplied
  • No application, valuation or settlement fees

  • Lending up to $5 million

  • Free redraw facility.

  • $330 legal fee

  • $535 discharge fee

  • No offset account available.

Our verdict

With over three decades in the game, Aussie’s Select Basic Variable represents everything a basic home loan should be: no-frills, no ongoing fees, and a free redraw facility to top it all off.

The Select Basic Variable is a solid option for loans between $100,000 to $5 million and comes with a competitive interest rate of 6.14% p.a. (6.17% p.a. comparison rate*) for borrowers with 70-80% LVR. 

Upfront fees are relatively low compared to other home loans we track, thanks to no application, valuation, or settlement fees being charged. However, there is a legal fee of $330 to cover at the start of your mortgage and a $535 discharge fee at the end. 

While it doesn’t come with an offset account (which is normal for a basic home loan), the free redraws Aussie lets you make are a useful feature. If you’ve made extra repayments and need access to cash, not having to pay a fee to redraw your funds is a bonus. 

If you’re interested in an Aussie home loan with an offset, then check out Aussie’s Elevate home loan.

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Last updated 4 November 2024 Important disclosures and comparison rate warning*

Aussie home loans

  • Elevate Fixed

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.64 % p.a.
    Fixed 2 years
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $2,883
    Link not supplied

  • Select Basic Fixed

    • LVR<70%
    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.79 % p.a.
    Fixed 3 years
    Comparison rate
    6.05 % p.a.
    Initial monthly repayment
    $2,931
    Link not supplied

  • Select Basic Fixed

    • LVR<80%
    • Investment
    • Principal & Interest
    Interest rate
    5.89 % p.a.
    Fixed 2 years
    Comparison rate
    6.32 % p.a.
    Initial monthly repayment
    $2,962
    Link not supplied

  • Select Basic Variable

    • LVR<60%
    • Owner Occupier
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.17 % p.a.
    Initial monthly repayment
    $3,043
    Link not supplied

  • Elevate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.18 % p.a.
    Variable
    Comparison rate
    6.18 % p.a.
    Initial monthly repayment
    $3,056

    Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.

  • Select Basic Variable

    • LVR<60%
    • Investment
    • Principal & Interest
    Interest rate
    6.29 % p.a.
    Variable
    Comparison rate
    6.32 % p.a.
    Initial monthly repayment
    $3,092
    Link not supplied

  • Elevate

    • Investor
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.43 % p.a.
    Variable
    Comparison rate
    6.47 % p.a.
    Initial monthly repayment
    $3,137
    Link not supplied

  • Elevate Fixed

    • Investor
    • Principal & Interest
    Interest rate
    6.49 % p.a.
    Fixed 3 years
    Comparison rate
    6.49 % p.a.
    Initial monthly repayment
    $3,157
    Link not supplied

  • Activate Prime

    • Owner Occupier
    • Principal & Interest
    • <55% LVR
    Interest rate
    6.84 % p.a.
    Variable
    Comparison rate
    6.86 % p.a.
    Initial monthly repayment
    $3,273
    Link not supplied

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Aussie home loan ratings

Overall customer rating for Aussie home loans

3.4
Based on 186 product reviews.

Customer reviews

Important disclosures

FAQs about Aussie home loans

Who started Aussie home loans?

Aussie was started by a man named John Symond in 1992, with a vision to take on the big banks and help Australians save money. 

Who owns Aussie home loans?

Aussie is owned by the Lendi Group, which consists of shareholders including CommBank, 1835i (ANZ), Macquarie Bank, UniSuper, and more. 

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

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