7.1 / 10

based on 294 reviews as rated by Mozo community

Australian Military Bank home loans

As a mutual bank, Australian Military Bank has been providing money savvy products to Australian defence personnel and their families since 1959. But membership is open to everyone, not just the defence community, so if you’re after a great home loan, check out the details of Australian Military Bank below.

What home loans do Australian Military Bank offer?

Rates and fees verified as correct at 30 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

The fixed rate home loan offer from Australian Military Bank is available for amounts starting at $150,000, up to 95% of the property’s value for owner occupiers, and 90% for investors. You can choose to make repayments weekly, fortnightly or monthly and you’ll have the use of a redraw facility, although fees apply. Speaking of fees, owner occupiers will pay application, legal and valuation costs, while investors will have an extra monthly service fee on top of that.

Home loan repayments calculator

years

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

2.79% p.a.

4.06% p.a.

$0.00

$750

2.79% p.a.

3.80% p.a.

$0.00

$750

3.59% p.a.

4.23% p.a.

$8.00 monthly

$750

3.59% p.a.

4.55% p.a.

$8.00 monthly

$750

Variable Rate Home Loans

As with the fixed rate alternative, investors can borrow up to 90% of the property’s value with a variable rate home loan from Australian Military Bank, while buyers who are planning to live in the home can borrow up to 95%. There’s a bunch of flexible features attached to this home loan, including unlimited free repayments, the use of an offset account and a redraw facility, although fees and a minimum amount apply to the latter. Both owner occupiers and investors will pay application, legal and valuation fees on this loan.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

3.95% p.a.

3.97% p.a.

$0.00

$250

2.98% p.a.

3.00% p.a.

$0.00

$250

3.38% p.a.

3.43% p.a.

$0.00

$750

4.08% p.a.

4.14% p.a.

$0.00

$750

4.25% p.a.

4.40% p.a.

$8.00 monthly

$750

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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Australian Military Bank home loan features in a glance

Offset icon

Offset account

Choose an Australian Military Bank variable rate home loan, and you’ll get the use of an offset account to keep interest costs low.

Image of coins

No ongoing fees for owner occupiers

If you’re going to live in the home you’re buying, then the good news is there are no ongoing service fees on your Australian Military Bank home loan. But keep in mind there are some upfront fees to consider.

Repayment Icon

Flexible repayment schedule

Choose to make your repayments on a schedule that suits your budget - either monthly, fortnightly or weekly.

How are Australian Military Bank home loans rated?

Mozo users have rated Australian Military 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
Australian Military Bank home loans
Overall
7.4/10
Price
Features
Customer service
Convenience
Trust

24 Reviews

Recent Australian Military Bank home loan reviews

Australian Military Bank Variable Offset Home Loan review
Overall 7/10
Have been very good in past

Currently revising all banking systems at same time, utter chaos.

Read full review

Currently revising all banking systems at same time, utter chaos.

Price
6/10
Features
7/10
Customer service
3/10
Convenience
7/10
Trust
9/10
Less
Don, Western Australia reviewed over 2 years ago
Australian Military Bank Value Home Loan review
Overall 8/10
ADCU - I use their mobile banker for convenience

I was recently well looked after by the mobile banker in Canberra (again). She was clearly unwell and watching her over time she is always under the pump but never made me feel like I was a bother to her and took the time to explain things others didn't. I didn't have to leave my house for the entire process. Not all their employees are quite the same though so make sure you choose the right one particularly in Canberra - Duntroon branch has the most help so go there or get Liz who does the house calls. I wouldn't trust anyone else after dealing with their opposition prior!

Read full review

I was recently well looked after by the mobile banker in Canberra (again). She was clearly unwell and watching her over time she is always under the pump but never made me feel like I was a bother to her and took the time to explain things others didn't. I didn't have to leave my house for the entire process. Not all their employees are quite the same though so make sure you choose the right one particularly in Canberra - Duntroon branch has the most help so go there or get Liz who does the house calls. I wouldn't trust anyone else after dealing with their opposition prior!

Price
6/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
West, Australian Capital Territory reviewed almost 5 years ago
Australian Military Bank Fixed Rate Home Loan review
Overall 7/10
Great bank!

Fantastic bank.

Read full review

Fantastic bank.

Price
7/10
Features
8/10
Customer service
7/10
Convenience
8/10
Less
Tanya, New South Wales reviewed over 5 years ago
Australian Military Bank Home Loan review
Overall 10/10
free

free

Less
Bob, Western Australia reviewed over 5 years ago
Australian Military Bank Home Loan review
Overall 10/10
Good

Good

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Max, reviewed almost 6 years ago

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

The first step in applying for a home loan from Australian Military Bank is to become a member. Although Australian Military Bank specialises in providing financial solutions to the defence community, anyone can apply for membership. You’ll just need to be:

  • 18 years or over
  • a citizen or resident of Australia

And have with you:

  • your current Driver's Licence
  • your Medicare Card

When you apply for a home loan, you’ll need to have:

  • Details about your employment and income
  • Details of your assets which means savings, investments or property among other things
  • Details of your debts, including credit cards or personal loans

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