Bank Australia home loans

Bank Australia’s fixed rate home loan is available for loans starting from $10,000 and allows you to borrow up to 95% LVR. There are a number of fixed terms which you can choose from starting from 1 year up to a 3 year fixed period, and you can opt for weekly, fortnightly or monthly repayments. With Bank Australia’s fixed rate loan, you can make extra repayments up to $20,000 without breakout costs and there is a complimentary redraw facility should you ever need to free up funds later on. If you want save in interest over the term of your loan, an offset savings account is available but you’ll have to pay a monthly fee to use it.

From a no-frills, basic home loan starting at $10,000 to a full featured home loan for environmentally friendly homes, Bank Australia’s variable loans give you the most in terms of variety. Designed to save you money and the environment, Bank Australia’s variable rate loans have a range of quality features including additional repayment flexibility, free redraw facility (not available for Basic Home Loan) and a biodiversity offset feature whereby Bank Australia pledges to buy and conserve land equalling the amount financed by the loan. With the First Home Buyers Home Loan and the goGreen home loan options, you can use a mortgage offset facility which can help you save on interest over the life of your loan, but there is a monthly fee to consider. If you have a home built to a 7 star NatTHERS (Nationwide House Energy Rating Scheme) rating, you’ll be eligible for the goGreen Home Loan.

If you want to combine all of your banking to get better rates and pay lower fees, a home loan package from Bank Australia could be a good choice. For first home buyers, there’s a fixed rate first home buyer’s package for loans from $10,000 or a Premium Package if you’re looking to borrow more than $250,000. You’ll have to pay an annual fee for the home loan package option but you’ll receive heaps of money saving features including discounted interest rates, free building insurance during settlement (3 months) and waived annual fees if you have a low rate VISA credit card.

For a little more flexibility with your repayment options, you could opt for a variable home loan from Bank Australia. The same options as the fixed rate alternative are available - for loans from $10,000 a first home buyers package and for more than $250,000 a Premium Package. The same annual fee and great features apply, but you’ll have more choice in regards to when you make repayments (weekly, fortnightly and monthly options) and how much you’d like to put into extra repayments. You’ll also receive a 100% offset account, and the option of a split loan facility if you want to split your loan between a fixed and variable rate portion.

Line of Credit

For property investors wanting to add to their portfolio, Bank Australia’s Premium Investment loan is available for loans starting from $10,000. You are only required to make interest only repayments but the maximum you can borrow is up to 80% LVR. With Bank Australia’s investment loan, you’ll get all the features an investor needs such as the ability to make extra repayments and a free redraw facility. There is also a mortgage offset facility available, but a monthly fee is charged should you choose to use this feature.