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loans.com.au ZIP Home Loan

Advertiser disclosure
Rate
6.44% p.a.
Comparison Rate
6.46% p.a.
Service fee
$0.00
Upfront fee
$530

Mozo editorial review loans.com.au ZIP Home Loan - last updated: 7 February 2024

binocular icon
What's hot
  • 6.44% variable rate (6.46% comparison rate*)
  • Free extra repayments and a redraw facility
  • Zip Visa Debit Card
What's not
  • $600 in upfront fees
Mozo snapshot

The Zip Home Loan from loans.com.au may be just thing thing you’re looking for to get you into the property market, with a relatively competitive variable interest rate of 6.44% p.a. (6.46% p.a. comparison rate*). The loan is also equipped with a few flexible repayment features including free extra repayments and a redraw facility, as well as the innovative Zip Debit Card which gives borrowers access to a $5,000 credit facility with no fees and no interest.

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Key features

The Zip Home Loan from loans.com.au is available to owner occupier borrowers looking to borrow between $250,000 to $2,000,000. It comes with a variable rate of 6.44% p.a. (6.46% p.a. comparison rate*), though something to keep in mind is that the maximum loan-to-value ratio (LVR) is 80%, which means that you’ll need at least a 20% deposit to access the loan. 

Customers keen to pay off their loans faster will be able to make unlimited extra repayments for free, and they can make unlimited free redraws (no minimum amount required) using the online redraw facility. 

This is more than just your regular home loan though. That's because loans.com.au has introduced a Visa Debit Card option called the Zip Card which provides borrowers with a $5,000 credit facility with no fees and no interest rate attached. Although if you choose to use this option, just keep in mind that you will need to make a $100 minimum repayment each month.

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Who is it good for

Given the competitive variable interest rate, flexible features and Zip Debit Card which all come attached to the loan, the Zip Home Loan could be an option worth considering for owner occupier borrowers with an LVR below 80%.

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Any catches

While the loan is general is pretty scant on fees, there are a few one-off upfront costs to consider, including the $230 valuation fee and $300 settlement fee. A discharge fee may also be applicable to borrowers who don't bring the loan to full term. 

Details

Rates and fees information correct as at 29 March 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

6.44% p.a.

n/a

n/a

n/a

6.46% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$230.00

$300.00

n/a

$0.00

$0.00

Other financial bits

$250,000

$2,000,000

none

80.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - free

$0.00

no

no

$300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

Zip Debit Card attached provides $5,000 credit facility with 0% interest and $100 monthly minimum repayment.

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 loans.com.au home loans rated by the Mozo community?

Overall
Price
Features
Customer service
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About loans.com.au

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6.30% p.a. variable

6.58% p.a.

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Flex Home Loan Fixed

5.99% p.a.
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6.37% p.a.

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Basic Home Loan (Fixed)

5.99% p.a.
fixed 3 years

6.13% p.a.

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Variable

5.99% p.a.

5.90% p.a.

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Sucasa

Ultra Low Rate

6.30% p.a.

6.58% p.a.

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Offset Home Loan (Package)

6.15% p.a.

6.40% p.a.

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6.01% p.a.

6.14% p.a.

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5.99% p.a.

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6.14% p.a.

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6.17% p.a.

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p.a.

6.30% p.a.

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Bendigo Bank

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6.04% p.a.
fixed 3 years

6.15% p.a.

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5.99% p.a.
fixed 3 years

6.13% p.a.

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6.54% p.a.
fixed 3 years

6.38% p.a.

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5.99% p.a.
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5.99% p.a.
fixed 3 years

6.12% p.a.

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6.29% p.a.
fixed 3 years

6.30% p.a.

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Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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6.09% p.a.
fixed 3 years

6.19% p.a.

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6.15% p.a.

6.40% p.a.

$248.00 yearly

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Bendigo Bank

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6.01% p.a.

6.14% p.a.

$10.00 monthly

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6.30% p.a.

6.58% p.a.

$0.00

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Variable

5.99% p.a.

5.90% p.a.

$0.00

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ubank

Neat Home Loan

6.14% p.a.

6.16% p.a.

$0.00

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6.15% p.a.

6.17% p.a.

$0.00

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5.95% p.a.

5.95% p.a.

$0.00

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5.99% p.a.

6.00% 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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