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Bank of Sydney BOSBasic Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan of at least $100,000 with an LVR below 70%

The details shown below are for an investor taking out a principal & interest loan of at least $100,000 with an LVR below 70%

The details shown below are for an investor taking out a interest only loan of at least $100,000 with an LVR below 70%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $100,000

  • Investor (Principal & Interest)

    LVR < 70%

    Loan: $100,000

  • Investor (Interest Only)

    LVR < 70%

    Loan: $100,000

Rate
2.84% p.a.
Comparison Rate*
2.89% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
3.20% p.a.
Comparison Rate*
3.25% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
3.40% p.a.
Comparison Rate*
3.45% p.a.
Service fee
$0.00
Upfront fee
$750

Mozo editorial review Bank of Sydney BOSBasic Home Loan

Last updated: 25 March 2020.

binocular icon
What's hot
  • 2.84% p.a. interest rate (2.89% comparison rate*)
  • Free extra repayments and redraw facility
What's not
  • $150 settlement fee
  • Limited to metro postcodes
Mozo snapshot

With a fantastic variable interest rate and a number of attractive features, the Bank of Sydney BOSBasic Home Loan is sure to impress. The low 2.84% interest rate (2.89% comparison rate*) for owner occupiers puts this loan among the lowest rates in our database, and while there are a few one-off fees, they hardly detract from the overall value.

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Key features

First things first, the Bank of Sydney BOSBasic Home Loan offers a 2.84% variable interest rate (2.89% comparison rate*) for owner occupiers making principal and interest repayments, making it one of the more impressive home loan options we’ve come across.

But there’s plenty more to love. Along with the option to make free extra repayments and use a free redraw facility ($2,000 minimum redraw applies), you won’t have to worry about account keeping fees or application fees. There’s also the option to take a repayment holiday and to split your loan between fixed and variable rates.

Plus, digital natives will be happy to learn that the account can be managed online, making your property journey that much more simple and convenient.

You’ll be able to borrow up to 70% of the property’s value, with principal and interest repayments made monthly. And to cap things off, there’s plenty of flexibility in terms of loan length, as terms range up to 30 years.

This loan is also available with competitive interest rates for investors, who can choose between interest-only or principal and interest repayments, but must have a deposit of at least 30% of the property's value.

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Who is it good for

If you have an eye for value, the BOSBasic should definitely pique your interest. Successful applicants can be confident that most of their earnings will be going towards paying off the loan rather than any hefty interest rates.

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Any catches

There are a few conditions for this one. To be able to apply, you’ll need to show you’ve been working at the same job for at least a year. Beyond that, the property itself will have to be an existing residential property situated in a metro postcode, and unfortunately the BOSBasic isn’t available for homes in NT, WA and TAS. Properties in Queensland will face some restrictions too.

Details

Rates and fees information correct as at 15 July 2020. 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
  • 2.84% p.a.

  • n/a

  • n/a

  • n/a

  • 2.89% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $300.00

Other financial bits
  • $100,000

  • none

  • none

  • 70.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $2,000.00

  • yes

  • no

  • Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only.

  • 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 15 July 2020. 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
  • 3.20% p.a.

  • n/a

  • n/a

  • n/a

  • 3.25% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $300.00

Other financial bits
  • $100,000

  • none

  • none

  • 70.00%

Features
  • Investor

  • Principal & Interest

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $2,000.00

  • yes

  • no

  • Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only.

  • 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 15 July 2020. 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
  • 3.40% p.a.

  • n/a

  • n/a

  • n/a

  • 3.45% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $300.00

Other financial bits
  • $100,000

  • none

  • none

  • 70.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • yes

  • yes - free

  • $2,000.00

  • yes

  • no

  • Valuation & legal fees payable at cost. Up to $475 in legal fees and up to $420 in valuation fees covered by Bank of Sydney. Existing residential dwellings in metro postcodes only.

  • 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 of Sydney home loans rated by the Mozo community?

Overall customer rating
7.5/10
Price
8.3/10
Features
8.7/10
Customer service
9.7/10
Convenience
8.5/10
Trust
7.5/10
Bank of Sydney

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