Australian Mutual Bank offer a number of fixed rate home loans which may be suitable for borrowers ready to lock in an interest rate over the short term. Both owner occupiers and investors with a deposit of at least 5% may be eligible for the Fixed Rate Home Loan which comes with a minimum loan amount of $20,000 and the option of a 2 or 3-year fixed term. First time buyers also have the First Home Buyers Fixed Rate Special Offer open to them, which offers borrowers with at least a 5% deposit the chance to secure a 2-year fixed rate on loans of $100,000 and above. Both fixed loans also come with features such as free extra repayments and access to an online redraw facility, though there may be some one-off fees to consider.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
p.a. |
n/a |
$0.00 |
$0 |
||
|
5.48% p.a. |
6.24% p.a. |
$0.00 |
$250 |
||
|
5.58% p.a. |
6.62% p.a. |
$0.00 |
$250 |
||
|
5.78% p.a. |
6.81% p.a. |
$0.00 |
$250 |
For an even greater amount of choice and flexibility, Australian Mutual Bank also has a number of variable rate home loans available. The First Home Buyer Loan, Basic Variable Home Loan and Variable Rate Home Loan are open to owner occupiers, while the Standard Variable Rate Home Loan is available to investors as well. Australian Mutual Bank allows borrowers to take out these offers with a deposit as low as 5% on loan amounts of $20,000 and above, but aside from that each loan has its own unique mix of features and fees, so to delve into the specific details check out the linked reviews in the table below.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
6.19% p.a. |
6.21% p.a. |
$0.00 |
$250 |
||
|
6.19% p.a. |
6.19% p.a. |
$0.00 |
$0 |
||
|
6.44% p.a. |
6.44% p.a. |
$0.00 |
$0 |
||
|
5.94% p.a. |
5.96% p.a. |
|
$250 |
||
|
5.99% p.a. |
6.01% p.a. |
|
$250 |
||
|
6.04% p.a. |
6.06% p.a. |
|
$250 |
||
|
5.89% p.a. |
5.91% p.a. |
|
$250 |
||
|
6.04% p.a. |
6.06% p.a. |
|
$250 |
||
|
6.09% p.a. |
6.11% p.a. |
|
$250 |
||
|
6.14% p.a. |
6.16% p.a. |
|
$250 |
||
|
5.99% p.a. |
6.01% p.a. |
|
$250 |
||
|
6.44% p.a. |
6.46% p.a. |
$0.00 |
$250 |
||
|
6.49% p.a. |
6.51% p.a. |
|
$250 |
||
|
6.54% p.a. |
6.56% p.a. |
|
$250 |
||
|
6.59% p.a. |
6.61% p.a. |
|
$250 |
||
|
6.44% p.a. |
6.46% p.a. |
|
$250 |
||
|
6.24% p.a. |
6.26% p.a. |
|
$250 |
||
|
6.29% p.a. |
6.31% p.a. |
|
$250 |
||
|
6.34% p.a. |
6.36% p.a. |
|
$250 |
||
|
6.19% p.a. |
6.21% p.a. |
|
$250 |
||
|
7.04% p.a. |
7.06% p.a. |
$0.00 |
$250 |
||
|
6.94% p.a. |
6.96% p.a. |
$0.00 |
$250 |
Owner occupiers and investors alike may be able to purchase their designed property with a smaller deposit, as Australian Mutual Bank allows deposits as small as 5% of the properties value. That's one both variable and fixed home loans, though it's worth remembering that borrowers with a deposit below 20% may be required to take out Lenders Mortgage Insurance (LMI).
Among other features on offer, borrowers will be able to access an offset account and make extra repayments towards their outstanding loan balance depending on the Australian Mutual Bank home loan they choose.
Looking to purchase your very first home? Australian Mutual Bank has dedicated fixed and variable home loans available to first home buyers, equipped with competitive rates, relatively low fees and some handy features.
Mozo users have rated Australian Mutual Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
15 Reviews
I signed my Sydney Mutual Bank home loan up at the Campbelltown branch. Great staff and kept me informed all the way. They don’t have a huge branch network but there’s a few around and it suits me. Recommended.
Read full reviewI signed my Sydney Mutual Bank home loan up at the Campbelltown branch. Great staff and kept me informed all the way. They don’t have a huge branch network but there’s a few around and it suits me. Recommended.
Interest rate are low. They keep an eye out for suspicious transactions. Give great financial advice. Only thing that I'm not happy about is that it is a bit difficult to send money to a few countries overseas to family so we don’t use them for that.
Read full reviewInterest rate are low. They keep an eye out for suspicious transactions. Give great financial advice. Only thing that I'm not happy about is that it is a bit difficult to send money to a few countries overseas to family so we don’t use them for that.
I left a major bank to become a member, they gave me my home loan and I had never banked with them before. Their rates are on par with the other lenders, but their customer service rates are so much higher than the banks. They know you by name and take an interest in you, nothing is ever an effort. All my family and friends now bank with them.
Read full reviewI left a major bank to become a member, they gave me my home loan and I had never banked with them before. Their rates are on par with the other lenders, but their customer service rates are so much higher than the banks. They know you by name and take an interest in you, nothing is ever an effort. All my family and friends now bank with them.
This credit union has such a personal service. Even though I applied online the service was excellent. They answered all my questions and met all my needs.
Read full reviewThis credit union has such a personal service. Even though I applied online the service was excellent. They answered all my questions and met all my needs.
Sydney Credit Union (when I had a mortgage) was the best bank to deal with. They were fair, always ready to explain things and were very happy when I paid out the mortgage early.
Read full reviewSydney Credit Union (when I had a mortgage) was the best bank to deal with. They were fair, always ready to explain things and were very happy when I paid out the mortgage early.
Ready to take the next step and apply? Starting an application for an Australian Mutual Bank home loan can be done online through their website, though it's worth pointing out that they are only available to Australian citizens or permanent residents who are 18 years or over and have a regular permanent income.
It could also be useful to pull together the following before you start an application: