8.4 / 10

based on 176 reviews as rated by Mozo community

Regional Australia Bank home loans

Regional Australia Bank (previously known as Community Mutual Group) is a member owned lender that has been providing Aussies with finance solutions for over 45 years. When you become a member, you’ll get a say in how your bank is run, so you can be sure you’ll get the home loan experience you want.

Of course, without the big overheads of the major banks, you'll enjoy lower rates and fees when borrowing from this member owned provider.

What home loans do Regional Australia Bank offer?

Rates and fees verified as correct at 23 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Variable Rate Home Loans

For a little more flexibility in your mortgage, opt for a Regional Australia Bank variable rate home loan. Like the fixed rate alternative, you can borrow up to 95% of the property’s value, and you’ll pay an upfront legal fee. You’ll have a bunch of great features, including unlimited free extra repayments, the chance to take a repayment holiday, and the ability to redraw funds, although a minimum applies to this. If you choose the Mortgage Offset option, you'll also have the use of an offset account.

Home loan repayments calculator

years

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

3.75% p.a.

3.77% p.a.

$0.00

$250

3.50% p.a.

3.52% p.a.

$0.00

$250

3.00% p.a.variable for 36 months and then 3.75% p.a.

3.58% p.a.

$0.00

$250

2.75% p.a.variable for 36 months and then 3.50% p.a.

3.33% p.a.

$0.00

$250

2.91% p.a.

2.93% p.a.

$0.00

$250

4.63% p.a.

4.65% p.a.

$0.00

$250

4.38% p.a.

4.40% p.a.

$0.00

$250

3.20% p.a.

3.22% p.a.

$0.00

$250

2.95% p.a.

2.97% p.a.

$0.00

$250

4.15% p.a.

4.17% p.a.

$0.00

$250

3.90% p.a.

3.92% p.a.

$0.00

$250

5.13% p.a.

5.15% p.a.

$0.00

$250

4.88% p.a.

4.90% p.a.

$0.00

$250

Fixed Package Home Loan

Home loan repayments calculator

years

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

2.74% p.a.

3.77% p.a.

$375.00 yearly

$0

2.74% p.a.

3.63% p.a.

$375.00 yearly

$0

2.34% p.a.

3.49% p.a.

$375.00 yearly

$0

2.34% p.a.

3.35% p.a.

$375.00 yearly

$0

2.94% p.a.

4.18% p.a.

$375.00 yearly

$0

2.94% p.a.

4.04% p.a.

$375.00 yearly

$0

2.54% p.a.

3.90% p.a.

$375.00 yearly

$0

2.54% p.a.

3.76% p.a.

$375.00 yearly

$0

Variable Package Home Loan

Want to cash in on bundling bonuses? The Regional Australia Bank variable rate package home loan will allow you to borrow up to 95% of the property’s value, and you’ll pay a yearly service fee for the privilege. It comes with all the bells and whistles, including unlimited free extra repayments, a free redraw facility (minimum amount applies), the chance to take a repayment holiday and the use of an offset account. Plus, you’ll get a discount on insurance policies from Regional Australia Bank, and grab a credit card with no annual fee and a discounted interest rate.

Home loan repayments calculator

years

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

3.60% p.a.

3.99% p.a.

$375.00 yearly

$0

3.40% p.a.

3.79% p.a.

$375.00 yearly

$0

3.35% p.a.

3.74% p.a.

$375.00 yearly

$0

3.15% p.a.

3.55% p.a.

$375.00 yearly

$0

4.10% p.a.

4.48% p.a.

$375.00 yearly

$0

3.90% p.a.

4.28% p.a.

$375.00 yearly

$0

3.85% p.a.

4.23% p.a.

$375.00 yearly

$0

3.65% p.a.

4.04% p.a.

$375.00 yearly

$0

*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.

Regional Australia Bank home loan features in a glance

Free icon

Low deposit

With Regional Australia Bank you can secure a mortgage with as little as a 5% deposit. Just keep in mind that different LVRs and loan amounts come with different rate tiers, and that, as with any bank, for a deposit less than 20% you’ll also have to shell out for Lender’s Mortgage Insurance.

Offset icon

Offset account

Pay off your loan quicker and save on interest by making use of the offset account feature available with the variable rate package deal and the Mortgage Offset variable rate offer.

Repayment Icon

Flexible repayment schedule

On any Regional Australia Bank home loan, you can choose to make your repayments weekly, fortnightly or monthly.

How are Regional Australia Bank home loans rated?

Mozo users have rated Regional Australia Bank 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
Regional Australia Bank home loans
Overall
8.1/10
Price
Features
Customer service
Convenience
Trust
30 reviews

Recent Regional Australia Bank home loan reviews

Regional Australia Bank Basic Home Loan review
Overall 4/10
Not what it used to be.

Small bank, but have grown enough to have lost that small bank customer service. Products are a little out of date compared to others. Too close to the end of mortgage to look at moving now.

Read full review

Small bank, but have grown enough to have lost that small bank customer service. Products are a little out of date compared to others. Too close to the end of mortgage to look at moving now.

Price
5/10
Features
5/10
Customer service
5/10
Convenience
3/10
Trust
6/10
Less
Adam, New South Wales reviewed 4 months ago
Regional Australia Bank Basic Home Loan review
Overall 10/10
Regional Australia bank is amazing. Love them!

Regional Australia bank is amazing. I so love this bank. I banked with a few different banks and was terribly unsatisfied with so I moved to Regional Australia Bank. I couldn't be more happy, highly recommend in all areas, including friendly costumer service.

Read full review

Regional Australia bank is amazing. I so love this bank. I banked with a few different banks and was terribly unsatisfied with so I moved to Regional Australia Bank. I couldn't be more happy, highly recommend in all areas, including friendly costumer service.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
J, New South Wales reviewed 7 months ago
Regional Australia Bank Home Loan review
Overall 9/10
Excellent customer service.

Great friendly people to deal with. Excellent rates.

Read full review

Great friendly people to deal with. Excellent rates.

Price
9/10
Features
7/10
Customer service
10/10
Convenience
6/10
Trust
10/10
Less
Ian, South Australia reviewed 11 months ago
Regional Australia Bank Fixed Home Loan (Partnership Advantage) review
Overall 9/10
Great

They are great.

Read full review

They are great.

Price
8/10
Features
8/10
Customer service
9/10
Convenience
9/10
Trust
10/10
Less
Melissa, New South Wales reviewed about 2 years ago
Regional Australia Bank Home Loan review
Overall 5/10
Good bank

They are good bank, just wish they were 24/7.

Read full review

They are good bank, just wish they were 24/7.

Price
5/10
Features
5/10
Customer service
7/10
Convenience
4/10
Trust
5/10
Less
R, New South Wales reviewed about 5 years ago

What do you need to apply for a Regional Australia Bank home loan?

First things first, you’ll need to become a member of Regional Australia Bank by applying at your local branch. Then, you can enquire online about taking out a home loan with the customer owned lender but to actually secure the loan, you’ll need to visit your local branch. When you do, it’s good to have a few details on hand to make the process as smooth and easy as possible, including:

  • Your personal contact details
  • Details about your current financial situation, which can include:
  • Savings
  • Assets such as property or investments
  • Debts
  • Living expenses
  • You employment and income details including recent payslips
  • Photo I.D.

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