The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 60%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 90%
The details shown below are for an investor taking out a principal & interest loan of at least $10,000 with an LVR below 60%
The details shown below are for an investor taking out a interest only loan of at least $10,000 with an LVR below 60%
The details shown below are for an investor taking out a principal & interest loan of at least $10,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $10,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan of at least $10,000 with an LVR below 80%
The details shown below are for an investor taking out a interest only loan of at least $10,000 with an LVR below 70%
The details shown below are for an investor taking out a interest only loan of at least $10,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 60% | $10,000 | |
| | Owner Occupier | Principal & Interest | 60%-70% | $10,000 | |
| | Owner Occupier | Principal & Interest | 70%-80% | $10,000 | |
| | Owner Occupier | Principal & Interest | 80%-90% | $10,000 | |
| | Investor | Principal & Interest | < 60% | $10,000 | |
| | Investor | Interest Only | < 60% | $10,000 | |
| | Investor | Principal & Interest | 60%-70% | $10,000 | |
| | Owner Occupier | Principal & Interest | 90%-95% | $10,000 | |
| | Investor | Principal & Interest | 70%-80% | $10,000 | |
| | Investor | Interest Only | 60%-70% | $10,000 | |
| | Investor | Interest Only | 70%-80% | $10,000 |
Owner Occupier (Principal & Interest)
LVR < 60%
Loan: $10,000
Owner Occupier (Principal & Interest)
LVR 60%-70%
Loan: $10,000
Owner Occupier (Principal & Interest)
LVR 70%-80%
Loan: $10,000
Owner Occupier (Principal & Interest)
LVR 80%-90%
Loan: $10,000
Investor (Principal & Interest)
LVR < 60%
Loan: $10,000
Investor (Interest Only)
LVR < 60%
Loan: $10,000
Investor (Principal & Interest)
LVR 60%-70%
Loan: $10,000
Owner Occupier (Principal & Interest)
LVR 90%-95%
Loan: $10,000
Investor (Principal & Interest)
LVR 70%-80%
Loan: $10,000
Investor (Interest Only)
LVR 60%-70%
Loan: $10,000
Investor (Interest Only)
LVR 70%-80%
Loan: $10,000
With extensive rate options for everyone from existing borrowers with built up equity, to first home buyers with smaller deposits, the Basic Home Loan (Fixed) from Bank Australia could be a solid choice for anyone looking to lock in with a competitive rate. There are also some handy features on offer and there are relatively few fees.
The Bank Australia Basic Home Loan (Fixed) could be the easy-to-manage loan you’ve been looking for. Since this is a fixed rate home loan, you’ll have the comfort in knowing your repayment amount won't change over the time period you lock in for, which means you'll be able to plan your budget over the long term.
Speaking of terms, borrowers will be able to lock in a rate for either 1, 2, 3 or 5 years. For borrowers with a 20% deposit (80% LVR), fixed rates currently start at:
There are also lower rates available for those with loan-to-value ratios (LVRs) of 60% and below or 70% and below, as well as for borrowers with an LVR above 80% - an option which could be useful for first time buyers who haven't saved up a 20% deposit.
You won’t have to worry about any ongoing service fees, nor any legal, valuation or settlement fees. There is a $595 application fee to budget for though, as well as the $250 discharge fee once you fully pay off your loan.
Another thing to keep in mind is that since this is a 'basic' loan, features like an offset account aren't available, though extra repayments (up to $20k p.a.) and a redraw facility are available.
Aren’t too worried about having access to an offset account? Then the Bank Australia Basic Home Loan (Fixed) with its competitive rates, relative lack of fees and useful features could be a worthy pick.
Just remember, there is a costly application fee to consider, and if you are looking to refinance or pay off your loan, you will be charged a $250 discharge fee.
n/a
n/a
n/a
n/a
2.00% (3.14%*)
1.95% (3.03%*)
1.95% (2.93%*)
n/a
2.10% (2.81%*)
n/a
n/a
3.20% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
none
60.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.10% (3.15%*)
2.00% (3.04%*)
2.00% (2.94%*)
n/a
2.20% (2.85%*)
n/a
n/a
3.20% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
60.00%
70.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.30% (3.16%*)
2.20% (3.07%*)
2.20% (2.99%*)
n/a
2.40% (2.93%*)
n/a
n/a
3.20% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
70.00%
80.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.40% (3.17%*)
2.30% (3.09%*)
2.30% (3.02%*)
n/a
2.50% (2.97%*)
n/a
n/a
3.20% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
80.00%
90.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.20% (3.15%*)
2.15% (3.06%*)
2.15% (2.98%*)
n/a
2.30% (2.89%*)
n/a
n/a
3.20% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
none
60.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.40% (3.36%*)
2.35% (3.27%*)
2.35% (3.19%*)
n/a
2.50% (3.09%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
none
60.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.30% (3.35%*)
2.20% (3.24%*)
2.20% (3.15%*)
n/a
2.40% (3.06%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
60.00%
70.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.60% (3.38%*)
2.50% (3.30%*)
2.50% (3.22%*)
n/a
2.70% (3.17%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
90.00%
95.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.50% (3.37%*)
2.40% (3.28%*)
2.40% (3.20%*)
n/a
2.60% (3.13%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
70.00%
80.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.50% (3.37%*)
2.40% (3.28%*)
2.40% (3.20%*)
n/a
2.60% (3.13%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
60.00%
70.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
n/a
n/a
n/a
n/a
2.70% (3.39%*)
2.60% (3.31%*)
2.60% (3.25%*)
n/a
2.80% (3.21%*)
n/a
n/a
3.41% p.a.
$595.00
$0.00
$0.00
$0.00
n/a
$0.00
$250.00
$10,000
none
70.00%
80.00%
Weekly, Fortnightly, Monthly
yes - up to $20,000 p.a.
yes
yes - free
none
yes
no
none
none
none
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.
Bank Australia is a customer owned bank. Formerly bankmecu, Bank Australia has over 130,000 customers which act as shareholders of the bank. It offers a full range of products including home loans, savings, credit cards and loan products, and because its shareholders are its customers, they benefit from lower rate and fees. Bank Australia also invests up to 4% of its profits in various community projects every year.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
Homestar
Star Gold Home Loan
1.79% p.a. variable
1.84% p.a.
Bank of Queensland
Fixed Rate
1.94% p.a.
fixed 3 years
2.97% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
1.98% p.a.
fixed 3 years
3.56% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Homestar
Star Gold Home Loan
1.79% p.a.
1.84% p.a.
Yard
Variable Home Loan Special
2.09% p.a.
2.12% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
1.98% p.a.
fixed 3 years
3.56% p.a.
Homestar
Star Classic Fixed Home Loan
n/a
n/a
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.89% p.a.
fixed 3 years
3.03% p.a.
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.
