Rates and fees verified as correct at 25 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
Want the security of knowing your interest rate is locked in for a set time, without having to compromise on flexibility? Then you may find the best of both worlds with Auswide Bank’s fixed rate home loan offer. This loan is available for amounts up to $3.5 million and loan-to-value ratios (LVRs) up to 95%, so it can cater for a whole range of borrowers including those with a smaller deposit or those looking to purchase a more expensive home.
While this loan does come with an application and monthly service fees, in return, you'll get the full gamut of flexible features! This includes access to an offset account, the opportunity to take a repayment holiday if you're ahead on repayments, plus the option to make unlimited additional repayments and redraws at no extra cost. Just beware that as with most fixed loans, if you do pay off your entire mortgage before the fixed period ends, you may be charged break costs.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.39% p.a. | 4.74% p.a. | $10.00 monthly | $600 | ||
| 2.79% p.a. | 4.43% p.a. | $10.00 monthly | $600 | ||
| 3.39% p.a. | 4.58% p.a. | $10.00 monthly | $600 | ||
| 4.39% p.a. | 5.60% p.a. | $10.00 monthly | $600 | ||
| 4.09% p.a. | 5.36% p.a. | $10.00 monthly | $600 |
There are a range of variable home loan options available with Auswide Bank, and depending on which one you go with, you will see some differences in interest rates, fees and features. Opt for the basic offer and you'll have access to a lower interest rate and fewer fees but there's no offset account available with the loan. Meanwhile the standard offer comes with a 100% mortgage offset, but you'll need to factor in higher rates and more fees. Both loans are available for amounts up to $3.5 million, with the basic option accepting LVRs up to 90% and the standard option accepting slightly higher LVRs up to 95%.
With both the basic and standard loans, you'll get the many great benefits and features of the fixed rate alternative, including fee-free repayments and a free redraw facility. But unlike the fixed rate version, there’s no danger of being hit with an early break fee if you pay off your loan sooner. You also can tailor your repayment schedule by choosing to make monthly, fortnightly or weekly payments.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.39% p.a. | 2.42% p.a. | $0.00 | $300 | ||
| 2.74% p.a. | 2.77% p.a. | $0.00 | $300 | ||
| 5.01% p.a. | 5.17% p.a. | $10.00 monthly | $600 | ||
| 4.79% p.a. | 4.95% p.a. | $10.00 monthly | $600 | ||
| 3.19% p.a. | 3.22% p.a. | $0.00 | $300 | ||
| 2.99% p.a. | 3.02% p.a. | $0.00 | $300 | ||
| 5.84% p.a. | 6.00% p.a. | $10.00 monthly | $600 | ||
| 5.62% p.a. | 5.78% p.a. | $10.00 monthly | $600 |
Want to save on your other Auswide Bank products while securing a great rate on your home loan? The Auswide Freedom Package is just what you need. The Freedom Package is available for amounts starting from $100k, for up to 95% of the property’s value if you go with the Fixed Home Loan option and 90% if you go with the Special Discount Home Loan Plus option. While the Fixed Home Loan package offers rates across 1-5 year terms, the Special Discount package is only available for shorter terms (1-3 years) although it offers slightly more competitive rates.
Along with all the great features of the Auswide Bank fixed rate home loan, like unlimited free extra repayments, a free redraw facility and the use of an offset account, the Freedom Package allows you cash in on discounted insurance from Auswide, including cover for your home and car. But it doesn’t stop there! You can also forget about annual fees on your Auswide credit card and establishment fees on any Auswide personal loans.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.29% p.a. | 4.27% p.a. | $395.00 yearly | $0 | ||
| 2.69% p.a. | 3.75% p.a. | $395.00 yearly | $0 | ||
| 3.29% p.a. | 4.01% p.a. | $395.00 yearly | $0 | ||
| 2.09% p.a. | 3.60% p.a. | $395.00 yearly | $0 | ||
| 2.49% p.a. | 3.70% p.a. | $395.00 yearly | $0 | ||
| 3.79% p.a. | 4.87% p.a. | $395.00 yearly | $0 | ||
| 3.49% p.a. | 4.42% p.a. | $395.00 yearly | $0 | ||
| 2.79% p.a. | 4.61% p.a. | $395.00 yearly | $0 | ||
| 2.59% p.a. | 4.19% p.a. | $395.00 yearly | $0 |
Want all the Auswide Freedom Package benefits with the added flexibility of variable rates? You got it! The variable rate version of Auswide’s home loan package is much the same as its fixed rate counterpart, including discounts on home and car insurance as well as fee waivers for any Auswide credit cards and personal loans that you have. All the flexible features still apply, so you’ll have the full use of an offset account, fee free extra repayments and a free redraw facility. If you opt for the Special Discount Freedom Package option, you’ll snag some killer interest rates, although you’ll only be able to borrow up to 90% of the property’s value.
To top things off, Auswide Bank's Home Loan Plus (Freedom Package) was even recognised in our 2020 Mozo Experts Choice Awards for best Packaged Home Loan.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.08% p.a. | 4.48% p.a. | $395.00 yearly | $0 | ||
| 3.56% p.a. | 3.97% p.a. | $395.00 yearly | $0 | ||
| 3.71% p.a. | 4.12% p.a. | $395.00 yearly | $0 | ||
| 2.69% p.a. | 3.11% p.a. | $395.00 yearly | $0 | ||
| 2.99% p.a. | 3.40% p.a. | $395.00 yearly | $0 | ||
| 4.73% p.a. | 5.11% p.a. | $395.00 yearly | $0 | ||
| 4.21% p.a. | 4.61% p.a. | $395.00 yearly | $0 | ||
| 3.44% p.a. | 3.85% p.a. | $395.00 yearly | $0 | ||
| 3.24% p.a. | 3.66% p.a. | $395.00 yearly | $0 |
Got a renovation in the works? Or maybe you’re eyeing off an investment property? Whatever your next spending goal, you can make it a reality with a line of credit mortgage from Auswide Bank. You can get your hands on up to 80% of the value of your property, up to $3,500,000, but you’ll have to contend with application and monthly service fees for the privilege. There are plenty of convenient ways to access these funds, including at the ATM with your Auswide debit card and via online banking.
| Product | Rate | Comparison Rate | Service fee | Upfront fee |
|---|---|---|---|---|
| 5.51% p.a. | n/a | $10.00 monthly | $600 | |
| 6.03% p.a. | n/a | $10.00 monthly | $600 |
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.
Opt for the Auswide Freedom Package and you can cash in on discounts for your home, contents and car insurance, plus wave goodbye to ongoing service fees on your mortgage offset account, everyday account, Platinum credit card and debit card. Not to mention you'll have establishment fees waived for any personal loans that you apply for with Auswide.
All Auswide Bank home loans - even the fixed rate options - allow you to make unlimited additional repayments at no extra cost. But if you choose a fixed rate option and pay off your entire mortgage early, you may incur a break cost fee.
Match your repayment schedule to when you get paid by choosing from weekly, fortnightly or monthly repayments on your Auswide Bank home loan.
Keep your home loan costs low by making use of the full offset account available with any Auswide Bank home loan offer, except the line of credit mortgage.
Nearly all of Auswide's home loans (except for the line of credit) allow customers to borrow up to 90% or 95% of the property value, which means that if you've saved up less than the standard 20% deposit, you'll still be able to qualify for a loan. Just bear in mind that if your deposit is below 20%, you may have to budget for an additional cost known as Lenders Mortgage Insurance.
Mozo users have rated Auswide Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
66 Reviews
Never apply for a home loan with this bank. They wasted our time and took weeks to get back to us. We met every criteria to get our first home loan and they kept making up excuse after excuse, even after doing the things we were told we needed to. They left everything till last minute TWICE and lost us TWO houses that we had put offers on, and spent money getting building inspections done. Customer service was terrible and the assessor was very rude. Went with another bank and got our home loan straight away.
Read full reviewNever apply for a home loan with this bank. They wasted our time and took weeks to get back to us. We met every criteria to get our first home loan and they kept making up excuse after excuse, even after doing the things we were told we needed to. They left everything till last minute TWICE and lost us TWO houses that we had put offers on, and spent money getting building inspections done. Customer service was terrible and the assessor was very rude. Went with another bank and got our home loan straight away.
Initially their interest rates were awesome - I’m part fixed, part variable. At the moment their interest seems to be higher than others but I think it’s just me who needs to follow up with a phone call. Their service is brilliant and I like that my business is with one of that smaller banks.
Read full reviewInitially their interest rates were awesome - I’m part fixed, part variable. At the moment their interest seems to be higher than others but I think it’s just me who needs to follow up with a phone call. Their service is brilliant and I like that my business is with one of that smaller banks.
Disappointed in some ways and in other ways they helped.
Read full reviewDisappointed in some ways and in other ways they helped.
This is a great product and the service is excellent.
Read full reviewThis is a great product and the service is excellent.
Very high interests rates and they also removed a lot of payment methods which makes it very difficult to pay on time increasing the chance of you getting charged with late fees.
Read full reviewVery high interests rates and they also removed a lot of payment methods which makes it very difficult to pay on time increasing the chance of you getting charged with late fees.
If you’re ready to go ahead and sign on the dotted line for an Auswide Bank home loan, here’s a checklist of what information you’ll need to have with you:
