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Bank First Home Loan (Premier Package)

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest, interest only loan between $200,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan up to with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan up to with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan up to with an LVR below 98%

The details shown below are for an investor taking out a principal & interest, interest only loan up to with an LVR below 80%

The details shown below are for an investor taking out a principal & interest, interest only loan up to with an LVR below 90%

The details shown below are for an investor taking out a principal & interest, interest only loan up to with an LVR below 95%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 80%

    Loan: $200,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan:

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan:

  • Owner Occupier (Principal & Interest)

    LVR 90%-98%

    Loan:

  • Investor (Principal & Interest, Interest Only)

    LVR < 80%

    Loan:

  • Investor (Principal & Interest, Interest Only)

    LVR 80%-90%

    Loan:

  • Investor (Principal & Interest, Interest Only)

    LVR 90%-95%

    Loan:

Rate
2.15% p.a.variable for 36 months and then 2.48% p.a.
Comparison Rate
2.81% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
2.51% p.a.variable for 36 months and then 2.98% p.a.
Comparison Rate
3.26% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
2.48% p.a.
Comparison Rate
2.94% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
3.08% p.a.
Comparison Rate
3.52% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
3.18% p.a.
Comparison Rate
3.62% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
2.98% p.a.
Comparison Rate
3.43% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
3.53% p.a.
Comparison Rate
3.96% p.a.
Service fee
$390.00 yearly
Upfront fee
$400
Rate
3.63% p.a.
Comparison Rate
4.06% p.a.
Service fee
$390.00 yearly
Upfront fee
$400

Mozo editorial review Bank First Home Loan (Premier Package) - last updated: 1 September 2021

4 / 5
binocular icon
What's hot
  • Competitive variable rates from 2.48% p.a. (2.94% p.a. comparison rate*)
  • Offset account, extra repayments and redraws
  • Discounts on other Bank First products
  • Discounted 3-year variable rate from 2.15% p.a. (2.81% p.a. comparison rate*)
What's not
  • $390 annual fee
Mozo snapshot

If you’re looking for a full-feature home loan with competitive variable rates then you’ve come to the right place. Bank First’s Home Loan (Premier Package) offers a suite of useful features including an offset account, redraw facility and extra repayments, plus variable rates start at a competitive 2.48% p.a. (2.94% p.a. comparison rate*). And borrowers can even make the most of discounts on other Bank First banking products.

key icon
Key features

The Home Loan (Premier Package) from Bank First is available to all sorts of borrowers – from first home buyers to refinancers and property investors –with no minimum or maximum loan amount. 

There are also options for borrowers with varying deposits or existing equity, ranging from <80% loan-to-value ratio (i.e. a 20% deposit or more) all the way up to <95% LVR for investors and <98% LVR for borrowers. Just bear in mind, lenders mortgage insurance may be required on loans with higher LVRs.  

As we said above, the Premier Package Home Loan comes with quite competitive variable interest rates for a packaged mortgage offer, which currently start at: 

  • 2.48% p.a. (2.94% p.a. comparison rate*) for owner occupiers making principal and interest repayments (<80% LVR)

  • 2.98% p.a. (2.43% p.a. comparison rate*) for investors making principal and interest repayments (<80% LVR)

There's also a new discounted introductory variable rate for 3 years on offer to borrowers with an LVR under 80%. For owner occupiers it's 2.15% p.a. (2.81% p.a. comparison rate*) and for investors it's 2.51% p.a. (3.26% p.a. comparison rate*)

In terms of features, Premier Package mortgage holders will have a lot of choice at their disposal. There’s an offset account to help borrowers reduce the amount of interest they’re paying, an extra repayments option to pay the loan down faster, and a redraw facility which can be used to dip back into those additional repayments if need be ($500 minimum redraw amount applies). Borrowers who are ahead of their repayments may even be able to take a repayment holiday for a short amount of time. 

Bank First also offers Premier Package customers a number of discounts on other products. These include no annual fee on the Bank First Visa Platinum Credit Card and an establishment fee waiver on the Bank First Personal Loan

There are a few fees to weigh up with the Premier Package Home Loan though, including a $390 annual service fee and one-off settlement ($400) and discharge ($395) fees.

snapshot
Who is it good for

With a range of features, package discounts and some relatively competitive variable rates, the Home Loan (Premier Package) from Bank First could prove to be an offer worth considering for either owner occupiers or investors looking for a packaged home loan. 

question icon
Any catches

Just remember, the $390 annual service fee applies over the course of the loan, so that cost may be worth taking into account if your loan is likely to run over 25 or 30 years.

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 24 September 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

2.48% p.a.

2.15% p.a.

36 Months

Variable

2.81% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

Special Discounted 3 Year Introductory Rate available for applications made by 24 November 2021 and settled by 24 February 2022.

First home buyer can apply for first home buyers package with waived home loan establishment fee. No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

2.98% p.a.

2.51% p.a.

36 Months

Variable

3.26% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

$200,000

$2,000,000

none

80.00%

Features

Investor

Principal & Interest, Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

Special Discounted 3 Year Introductory Rate available for applications made by 24 November 2021 and settled by 24 February 2022.

First home buyer can apply for first home buyers package with waived home loan establishment fee. No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

2.48% p.a.

n/a

n/a

n/a

2.94% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

none

First home buyer can apply for first home buyers package with waived home loan establishment fee. No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

3.08% p.a.

n/a

n/a

n/a

3.52% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

80.00%

90.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

none

First home buyer can apply for first home buyers package with waived home loan establishment fee. No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

3.18% p.a.

n/a

n/a

n/a

3.62% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

90.00%

98.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

98% LVR available only to first home buyers, otherwise maximum LVR is 95%.

First home buyer can apply for first home buyers package with waived home loan establishment fee. No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

2.98% p.a.

n/a

n/a

n/a

3.43% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

none

80.00%

Features

Investor

Principal & Interest, Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

none

Ability to borrow up to 85% LVR with no LMI (conditions apply); No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

3.53% p.a.

n/a

n/a

n/a

3.96% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

80.00%

90.00%

Features

Investor

Principal & Interest, Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

none

Ability to borrow up to 85% LVR with no LMI (conditions apply); No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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 24 September 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

3.63% p.a.

n/a

n/a

n/a

4.06% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$400.00

n/a

$390.00 yearly

$395.00

Other financial bits

none

none

90.00%

95.00%

Features

Investor

Principal & Interest, Interest Only

Weekly, Fortnightly, Monthly

yes - free

yes

yes - free

$500.00

yes

yes

none

Ability to borrow up to 85% LVR with no LMI (conditions apply); No personal loan establishment fee; No Platinum Credit Card Annual fee; Discounts to Premium GCU insurance policies.

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.

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About Bank First

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.