Auswide Bank is proof that good things come in small packages. They’ve been around for over 50 years, and in that time, have carved out a niche for themselves as a homegrown, down-to-earth alternative to the big banks. Speaking of good things, Auswide Bank also took out a 2019 Mozo Experts Choice Award for best Packaged Home Loan!
Check out the details about Auswide Bank home loans below and see for yourself why going small can make a big difference.
Rates and fees verified as correct at 10 August, 2020. Other information correct at the time of writing.
Want the security of knowing your interest rate is locked in for a set time? Check out Auswide Bank’s fixed rate home loan offer for amounts up to $3,500,000 and LVRs up to 95%. This loan comes with an application, settlement and monthly service fees, but in return, you get the full gamut of flexible features, including the use of an offset account, the opportunity to take a repayment holiday, use of a redraw facility (but remember a minimum does apply), plus the option to make unlimited additional repayments at no extra cost. But if you’re nearing the end of your home loan term be careful when making extra repayments, as you may incur a penalty for repaying the entire amount before the fixed term is up.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.89% p.a. | 5.46% p.a. | $10.00 monthly | $600 | ||
| 3.59% p.a. | 5.23% p.a. | $10.00 monthly | $600 | ||
| 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 |
Opt for the variable home loan option from Auswide Bank, and you’ll get all the great benefits and features of the fixed rate alternative, including the use of an offset account and free redraw facility, along with added flexibility. You’ll pay a monthly service fee in addition to the application and settlement fees, but unlike the fixed rate version of this loan, there’s no danger of being hit with an early break fee when you make use of the unlimited, fee free extra repayments. Plus, you can tailor your repayment schedule by choosing to make monthly, fortnightly or weekly payments. The variable rate home loan is available for borrowers with an LVR of up to 95%, for amounts up to $3,500,000.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.74% p.a. | 2.77% 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 | ||
| 5.01% p.a. | 5.17% p.a. | $10.00 monthly | $600 | ||
| 4.79% p.a. | 4.95% p.a. | $10.00 monthly | $600 |
Want to save on your Auswide Bank products while securing a great rate on your home loan? The Auswide Freedom Package is just what you need. The fixed rate version is available for amounts starting at $250,000, for up to 95% of the property’s value. Along with all the great features of the Auswide Bank fixed rate home loan, like unlimited free extra repayments, the use of an offset account and free redraw facility, you’ll also be able to 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 everyday account, Platinum MasterCard and debit card, plus enjoy high rates on an Auswide term deposit.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.79% p.a. | 4.87% p.a. | $395.00 yearly | $0 | ||
| 3.49% p.a. | 4.42% p.a. | $395.00 yearly | $0 | ||
| 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 | ||
| 2.29% p.a. | 3.65% 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 | ||
| 2.44% p.a. | 3.69% 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 and waived annual fees on the Auswide Platinum MasterCard, debit card and everyday transaction accounts. All the flexible features still apply, so you’ll have the full use of an offset account, fee free extra repayments and 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 if you’re an investor, or 80% for owner occupiers.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.73% p.a. | 5.11% p.a. | $395.00 yearly | $0 | ||
| 4.21% p.a. | 4.61% p.a. | $395.00 yearly | $0 | ||
| 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 | ||
| 2.79% p.a. | 3.21% 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 | ||
| 2.99% p.a. | 3.40% 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 90% of the value of your property, up to $3,500,000, but you’ll have to contend with an application, settlement and monthly service fee 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 |
|---|---|---|---|---|
| 6.03% p.a. | n/a | $10.00 monthly | $600 | |
| 5.51% p.a. | n/a | $10.00 monthly | $600 |
‡ 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.
| Package discountsPackage discounts | Opt for the Auswide Freedom Package and you can cash in on discounts for your home, contents and car insurance, plus wave goodbye to annual fees on your Home Loan Plus, mortgage offset account, everyday account, Platinum credit card and debit card. Not to mention a boost to your Auswide term deposit interest rates. |
| Unlimited extra repaymentsUnlimited extra repayments | 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. |
| Flexible repayment scheduleFlexible repayment schedule | Match your repayment schedule to when you get paid by choosing from weekly, fortnightly or monthly repayments on your Auswide Bank home loan. |
| 100% offset account100% offset account | 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. |
So now you’ve seen all the facts and figures - but what about some real world experiences? Check out our customer reviews to see how Aussies have ranked Auswide Bank in areas like trust, customer service and price.
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...
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.
Katie, Queensland, reviewed about 2 months ago
Disappointed in some ways and in other ways they helped.
Disappointed in some ways and in other ways they helped.
Deb, Queensland, reviewed 5 months ago
This is a great product and the service is excellent.
This is a great product and the service is excellent.
Tracy, New South Wales, reviewed 10 months ago
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.
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.
Melinda, Victoria, reviewed over 1 year ago
We have been with this bank since they first started as Mackay Permanent and now as a bank. They have always been able to help us out especially with the interest rates.
We have been with this bank since they first started as Mackay Permanent and now as a bank. They have always been able to help us out especially with the interest rates.
Michelle, Queensland, reviewed over 3 years ago
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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: