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Bank Australia Basic Home Loan

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 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 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 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 60%
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
Owner Occupier Principal & Interest 90%-95% $10,000
Investor Principal & Interest < 60% $10,000
Investor Principal & Interest 60%-70% $10,000
Investor Principal & Interest 70%-80% $10,000
Investor Interest Only < 60% $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
  • Owner Occupier (Principal & Interest)
    LVR 90%-95%
    Loan: $10,000
  • Investor (Principal & Interest)
    LVR < 60%
    Loan: $10,000
  • Investor (Principal & Interest)
    LVR 60%-70%
    Loan: $10,000
  • Investor (Principal & Interest)
    LVR 70%-80%
    Loan: $10,000
  • Investor (Interest Only)
    LVR < 60%
    Loan: $10,000
  • Investor (Interest Only)
    LVR 60%-70%
    Loan: $10,000
  • Investor (Interest Only)
    LVR 70%-80%
    Loan: $10,000
Rate
6.14% p.a.
Comparison Rate
6.19% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.14% p.a.
Comparison Rate
6.19% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.14% p.a.
Comparison Rate
6.19% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.39% p.a.
Comparison Rate
6.44% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.65% p.a.
Comparison Rate
6.70% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.34% p.a.
Comparison Rate
6.39% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.34% p.a.
Comparison Rate
6.39% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.34% p.a.
Comparison Rate
6.39% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.54% p.a.
Comparison Rate
6.47% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.54% p.a.
Comparison Rate
6.47% p.a.
Service fee
$0.00
Upfront fee
$595
Rate
6.54% p.a.
Comparison Rate
6.47% p.a.
Service fee
$0.00
Upfront fee
$595

Mozo editorial review Bank Australia Basic Home Loan - last updated: 13 February 2024

binocular icon
What's hot
  • 6.14% p.a. variable rate (6.19% p.a. comparison rate*)
  • Free extra repayments and redraw facility
What's not
  • No offset account available
  • $595 application fee
Mozo snapshot

If you're looking for a great value home loan, the Bank Australia Basic Home Loan is one to put on your hit list. Why? The Basic Home Loan has all the handy essentials you need to fulfil your home ownership dreams - no monthly fees, flexible repayments and a competitive variable rate of 6.14% p.a. (6.19% p.a. comparison rate*) for borrowers with an LVR equal to or less than 60%. 

key icon
Key features

With low variable interest rates and a range of flexible features, the Basic Home Loan is a loan that will suit everyone from first home buyers through to seasoned property investors. For owner occupiers, variable rates start from a low 6.15% p.a. (6.20% p.a. comparison rate*) for borrowers with LVR < 60%.

For borrowers with an LVR < 80%, variable rates starts from 6.14% p.a. (6.19% p.a. comparison rate*).

If you're an owner occupier, you'll be able to borrow up to 95% LVR, which means that for first home buyers, the minimum deposit required is 5%, while the maximum loan term for the Basic Home Loan is 30 years.

There are a number of repayment options that come standard with the Basic Home Loan. For instance, you can choose your repayment frequency to suit your payday and not the bank's. Options include weekly, fortnightly and monthly repayments.

Unfortunately, there isn't an offset account attached to the Basic Home Loan, but you can make extra payments and take advantage of a redraw facility if you decide you need the money later on.


snapshot
Who is it good for

This offering from Bank Australia could be a good fit for value seekers. Why pay a higher interest rate when the Basic Home Loan has all the essential features you want in a home loan?

question icon
Any catches

One thing to keep in mind, there is no offset account is available with this mortgage, which may not be optimal for every borrower.

With the Bank Australia Basic Home Loan, you'll also need to budget for a few fees, including a $595 application fee and a $250 discharge fee once you've finished paying off your loan.

Details

Rates and fees information correct as at 29 May 2024. 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

6.14% p.a.

n/a

n/a

n/a

6.19% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.14% p.a.

n/a

n/a

n/a

6.19% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.14% p.a.

n/a

n/a

n/a

6.19% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.39% p.a.

n/a

n/a

n/a

6.44% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.65% p.a.

n/a

n/a

n/a

6.70% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.34% p.a.

n/a

n/a

n/a

6.39% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.34% p.a.

n/a

n/a

n/a

6.39% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.34% p.a.

n/a

n/a

n/a

6.39% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.54% p.a.

n/a

n/a

n/a

6.47% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.54% p.a.

n/a

n/a

n/a

6.47% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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 29 May 2024. 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

6.54% p.a.

n/a

n/a

n/a

6.47% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/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

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$0.00

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
7.7/10
Price
7.5/10
Features
6.9/10
Customer service
7.6/10
Convenience
7.1/10
Trust
7.7/10
Based on 98 Bank Australia home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of Bank Australia Basic Home Loan

About Bank Australia

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Unloan

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5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

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Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

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ING

Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

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Unloan

Variable

5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

$0.00

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

$0.00

Thumbnail icon for HSBC
HSBC

Home Value Loan

6.09% p.a.

6.09% p.a.

$0.00

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

$0.00

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

$0.00

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G&C Mutual Bank

First Home Buyer Loan

5.90% p.a.

5.93% p.a.

$0.00

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Community First Bank

Basic Variable Home Loan

5.94% p.a.

5.99% p.a.

$0.00

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Unity Bank

First Home Buyer Advantage Plus Home Loan

5.99% p.a.

6.76% p.a.

$0.00

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.

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