8.6 / 10

based on 137 reviews as rated by Mozo community

Bank of us home loans

Bank of us, formerly known as B&E Personal Banking, is one of Tasmania’s last locally owned financial institutions, and has strong roots in the community. It started life way back in 1870, and has promoted the value of home ownership and thriftiness ever since. Read on to see what home loans are on offer from Bank of us to help Aussies own their homes today.

What home loans do Bank of us offer?

Rates and fees verified as correct at 24 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

If you’re after the security of fixed rates when you go to buy your home, check out Bank of us’ fixed rate home loan offer. You can borrow up to 95% of the property’s value but keep in mind you’ll pay both application and monthly service fees. In terms of features, you’ll have the chance to make unlimited free extra repayments and to redraw funds, although fees and a minimum amount apply. If you opt for the Flexichoice option you’ll also have the use of an offset account.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

p.a.

n/a

$0.00

$1,250

2.49% p.a.

2.84% p.a.

$0.00

$625

3.19% p.a.

3.65% p.a.

$0.00

$1,250

2.49% p.a.

2.76% p.a.

$0.00

$625

3.43% p.a.

4.79% p.a.

$10.00 monthly

$625

3.43% p.a.

4.79% p.a.

$10.00 monthly

$625

4.38% p.a.

5.08% p.a.

$10.00 monthly

$1,250

Variable Rate Home Loans

There are a number of different variable rate home loan options from Bank of us - on some you can borrow up to 95% of the property’s price, on others, up to 90%. All variable rate offers also come with unlimited free extra repayments and a redraw facility, although fees and a minimum amount apply to the latter. Most offers also give you the use of an offset account and the ability to split between fixed and variable rates. Depending which offer you choose, you might pay an upfront application fee, a monthly service fee, or in some cases, both.

Home loan repayments calculator

years

Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

2.78% p.a.

2.87% p.a.

$0.00

$1,250

2.89% p.a.

2.94% p.a.

$0.00

$625

2.79% p.a.

2.84% p.a.

$0.00

$625

3.69% p.a.

3.78% p.a.

$0.00

$1,250

3.29% p.a.

3.34% p.a.

$0.00

$625

3.19% p.a.

3.24% p.a.

$0.00

$625

3.99% p.a.

4.08% p.a.

$0.00

$1,250

5.06% p.a.

5.22% p.a.

$10.00 monthly

$625

5.06% p.a.

5.22% p.a.

$10.00 monthly

$625

5.06% p.a.

5.27% p.a.

$10.00 monthly

$1,250

3.32% p.a.

3.50% p.a.

$10.00 monthly

$625

3.03% p.a.

3.20% p.a.

$10.00 monthly

$350

3.45% p.a.

3.65% p.a.

$10.00 monthly

$1,250

4.13% p.a.

4.18% p.a.

$0.00

$625

3.93% p.a.

3.98% p.a.

$0.00

$625

4.33% p.a.

4.42% p.a.

$0.00

$1,250

3.63% p.a.

3.68% p.a.

$0.00

$625

3.43% p.a.

3.48% p.a.

$0.00

$625

*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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Bank of us home loan features in a glance

Offset icon

Offset account

With the exception of some of the variable rate options, you’ll have the use of an offset account on your Bank of us home loan to help keep interest costs down.

Free icon

Unlimited free extra repayments

Pay off your home loan faster by making free additional repayments. Just keep in mind, if you pay your whole loan off before the fixed term is up, there could be early break fees.

Repayment Icon

Flexible repayment schedule

Make your repayments weekly, fortnightly or monthly - whatever will suit your budget best.

How are Bank of us home loans rated?

Mozo users have rated Bank of us home loan on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Bank of us home loans
Overall
8.7/10
Price
Features
Customer service
Convenience
Trust
26 reviews

Recent Bank of us home loan reviews

Bank of us Home Loan review
Overall 10/10
Excellent products

Awesome people at branch and great bank

Read full review

Awesome people at branch and great bank

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Cheree, Tasmania reviewed almost 5 years ago
Bank of us Home Loan review
Overall 10/10
Friendly helpful staff

B&E is the best bank in Australia because of the friendly staff who go out of their way to serve you with a smile and they even know my name! Their interest rates are fabulous and they talk to you in an easy to understand manner and nothing is too much trouble to explain. We have been with B&E for over 40 years and would never consider changing to any other bank!

Read full review

B&E is the best bank in Australia because of the friendly staff who go out of their way to serve you with a smile and they even know my name! Their interest rates are fabulous and they talk to you in an easy to understand manner and nothing is too much trouble to explain. We have been with B&E for over 40 years and would never consider changing to any other bank!

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Joanne, Tasmania reviewed over 5 years ago
Bank of us Topline review
Overall 10/10
Best interest rates & service

This bank is small enough to tailor their loans to the individual borrower. I have had bank accounts with the "big four" banks, but none could provide the individual service like B&E. I walk in the door and am greeted by my name. With Westpac and NAB, every time I enter the bank, the staff are different to the last time I visited. I am not recognised, I am just a number on a computer! If I ask for something a little different to their standard product line, no-one seems to have enough authority to approve and am told to return another day when someone else will be there. At B&E the comment was "what a great idea! We can organise that straight away". The branch manager has the authority to approve deals,without having to refer to higher authority.

Read full review

This bank is small enough to tailor their loans to the individual borrower. I have had bank accounts with the "big four" banks, but none could provide the individual service like B&E. I walk in the door and am greeted by my name. With Westpac and NAB, every time I enter the bank, the staff are different to the last time I visited. I am not recognised, I am just a number on a computer! If I ask for something a little different to their standard product line, no-one seems to have enough authority to approve and am told to return another day when someone else will be there. At B&E the comment was "what a great idea! We can organise that straight away". The branch manager has the authority to approve deals,without having to refer to higher authority.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Elvin, Tasmania reviewed almost 6 years ago
Bank of us Home Loan review
Overall 10/10
Excellent all round service, clear and concise

To be addressed by name and greeted with a smile makes me feel valued and appreciated. The ladies at the counter are always cheerful and helpful. Always willing to help and explain any questions. The manager is fantastic and always helpful and considerate. Online banking is great and I just love my bank.

Read full review

To be addressed by name and greeted with a smile makes me feel valued and appreciated. The ladies at the counter are always cheerful and helpful. Always willing to help and explain any questions. The manager is fantastic and always helpful and considerate. Online banking is great and I just love my bank.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Caroline, Tasmania reviewed about 6 years ago
Bank of us Topline review
Overall 10/10
Awesome personal service

My local branch has the best staff and nothing is too much trouble on any enquiry we have had, I would never use one of the 4 big banks again as this is the best personal service you could receive. They even follow up a few months down the track to see if you are happy with the way things are going and if you need any further help.

Read full review

My local branch has the best staff and nothing is too much trouble on any enquiry we have had, I would never use one of the 4 big banks again as this is the best personal service you could receive. They even follow up a few months down the track to see if you are happy with the way things are going and if you need any further help.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Kim, Tasmania reviewed over 6 years ago

What do you need to apply for a Bank of us home loan?

You can apply for a Bank of us home loan either in a branch or online. Here’s what you’ll need:

  • I.D - photo I.D is best, but birth certificates and Medicare cards can also be used.
  • Proof of income - such as payslips, group certificates or a letter from your employer.
  • Details of any other income - from things like shares, investments or rental properties
  • Details on your financial situation - including savings, assets, debts, super and ongoing expenses

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