Bank Australia logo

Bank Australia Basic Home Loan (Fixed)

Advertiser disclosure

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

  • 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

Fixed 3 year rate
1.95% p.a.
Comparison Rate
2.93% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.00% p.a.
Comparison Rate
2.94% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.20% p.a.
Comparison Rate
2.99% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.30% p.a.
Comparison Rate
3.02% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.15% p.a.
Comparison Rate
2.98% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.35% p.a.
Comparison Rate
3.19% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.20% p.a.
Comparison Rate
3.15% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.50% p.a.
Comparison Rate
3.22% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.40% p.a.
Comparison Rate
3.20% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.40% p.a.
Comparison Rate
3.20% p.a.
Service fee
$0.00
Upfront fee
$595
Fixed 3 year rate
2.60% p.a.
Comparison Rate
3.25% p.a.
Service fee
$0.00
Upfront fee
$595

Mozo editorial review Bank Australia Basic Home Loan (Fixed)

Last updated: 14 April 2021.

binocular icon
What's hot
  • 2.20% fixed three year rate (2.62% comparison rate*) at 80% LVR
  • Borrow up to 90% of the property’s value
  • Make extra repayments and redraws
What's not
  • $595 application fee
Mozo snapshot

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.  


key icon
Key features

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: 

  • 1-year: 2.30% (2.71% comparison rate*)
  • 2-year: 2.20% (2.66% comparison rate*)
  • 3-year: 2.20% (2.62% comparison rate*)
  • 5-year: 2.40% (2.63% comparison rate*)

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.


snapshot
Who is it good for

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.


question icon
Any catches

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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • none

  • 60.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 60.00%

  • 70.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 70.00%

  • 80.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 80.00%

  • 90.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • none

  • 60.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • none

  • 60.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 60.00%

  • 70.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 90.00%

  • 95.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 70.00%

  • 80.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 60.00%

  • 70.00%

Features
  • 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.

Details

Rates and fees information correct as at 23 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 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.

Fees
  • $595.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $10,000

  • none

  • 70.00%

  • 80.00%

Features
  • 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.

Customer Reviews

How are Bank Australia home loans rated by the Mozo community?

Overall
7.8/10
Price
7.8/10
Features
7.2/10
Customer service
7.8/10
Convenience
7.3/10
Trust
7.8/10
Thumbnail icon for Bank Australia

About Bank Australia

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.

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Star Classic Fixed Home Loan

n/a

n/a

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People's Choice Credit Union

Fixed Rate Home Loan (Package)

1.89% p.a.
fixed 3 years

3.03% p.a.

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Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% 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.