Australian Military Bank home loans

Australian Military Bank
Australian Military Bank's overall rating for home loans

(as rated by the Mozo community)

7.9 / 10

based on 9 reviews

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.

Rates and fees verified as correct at 04 December, 2016. Other information correct at the time of writing.

What home loans do Australian Military Bank offer?

Fixed Rate Home Loans 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 ‡

3.89% p.a.

4.52% p.a.

$0.00

$500

3.99% p.a.

4.54% p.a.

$0.00

$500

4.14% p.a.

4.76% p.a.

$8.00 monthly

$500

4.04% p.a.

4.73% p.a.

$8.00 monthly

$500


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Variable Rate Home Loans 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 ‡

4.80% p.a.

4.93% p.a.

$8.00 monthly

$500

4.15% p.a.

4.28% p.a.

$8.00 monthly

$500

4.09% p.a.

4.13% p.a.

$0.00

$500

4.69% p.a.

4.73% p.a.

$0.00

$500


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Australian Military Bank home loan features in a glance

Offset accountOffset 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.

No ongoing fees for owner occupiersNo 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.

Flexible repayment scheduleFlexible 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?

Find out what customers of the Australian Military Bank think about their home loans in terms of things like price, convenience and customer service with our customer review section.

Australian Military Bank home loans

Overall 7.9*

Price

Features

Customer service

Convenience

Trust

9 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Australian Military Bank home loan reviews Recent Australian Military Bank home loan reviews

Australian Military Bank

Australian Military Bank Value Home Loan home loan review

Overall rating   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...

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 (ACT), reviewed 12 months ago

Australian Military Bank

Australian Military Bank Fixed Rate Home Loan (LVR>80%, Owner Occupier) home loan review

Overall rating   7 / 10

Great bank!

Fantastic bank.

Full review

Fantastic bank.

    Price   7 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   -1 / 10

Less

Tanya (NSW), reviewed over 1 year ago

Australian Military Bank

Australian Military Bank Variable Offset Home Loan home loan review

Overall rating   9 / 10

Unsurpassed customer service

It's about service, where you always speak to the person at the bank down the road, not a call centre, it's when you ask for the manager & get them.

Full review

It's about service, where you always speak to the person at the bank down the road, not a call centre, it's when you ask for the manager & get them.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Don (WA), reviewed over 2 years ago

Australian Military Bank

Australian Military Bank home loan review

Overall rating   8 / 10

Great customer service, competitive products.

I love the competitive rates and products they provide. The customer service I got was excellent and internet support is great. The only downfall is, they closed the branch where we became members. I can use local ATMs for money. Although I now...

Full review

I love the competitive rates and products they provide. The customer service I got was excellent and internet support is great. The only downfall is, they closed the branch where we became members. I can use local ATMs for money. Although I now have to travel one and a half hours to go to the closest branch if I want to speak to someone at the bank. They have now provided us with a mobile consultant who will come to us if we request, but they have to travel 2 hours to come and see me. Where is the logic in that? I would prefer to go to the bank than have someone come into my home. The pros are that they treat you like a person not just a number. They are professional and very personal in their service. ADCU will do all they can to help you and they are very good at following up on any queries. The cons, there is no local branch now. Make sure there is a branch close by that will not close down.

    Price   10 / 10

    Features   10 / 10

    Customer service   9 / 10

    Convenience   3 / 10

    Trust   10 / 10

Less

Lee-anne (QLD), reviewed over 2 years ago

Australian Military Bank

Australian Military Bank Investment Home Loan (LVR<80%) home loan review

Overall rating   10 / 10

Great service

Always friendly service, low fees, value for money.

Full review

Always friendly service, low fees, value for money.

    Price   8 / 10

    Features   9 / 10

    Customer service   7 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Steph (NSW), reviewed about 3 years ago

Hide reviews

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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