Rates and fees verified as correct at 18 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
With a fixed home loan from UBank you can get repayment certainty for 1, 3 or 5 years on loans starting from $100,000 (up to a maximum of $2,000,000). There are no application or ongoing fees but you may be charged a different fixed rate depending on the purpose of your loan (i.e. home ownership vs investment) and whether you choose a principal and interest or interest only payment option. You have the option to make extra repayments during the fixed term of your loan (up to a maximum of $20,000) but you won’t have the flexibility of a redraw facility should you need to free up funds later. There is also a rate lock feature available where you can secure the advertised interest rate up until the settlement of the loan if you’re losing sleep over possible interest rate rises in the future (fees apply).
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 2.29% p.a. | 2.35% p.a. | $0.00 | $395 | Go to site | ||
| 1.95% p.a. | 2.27% p.a. | $0.00 | $395 | Go to site | ||
| p.a. | n/a | $0.00 | $395 | Go to site | ||
| 2.29% p.a. | 2.65% p.a. | $0.00 | $395 | Go to site | ||
| 2.44% p.a. | 2.69% p.a. | $0.00 | $395 | Go to site |
UBank offers a great range of variable home loans to choose from depending on whether you’re an owner occupier or an investor and if you prefer principal and interest or interest only payments. UBank’s variable rates are available on loans starting from $100,000 (up to a maximum of $2,000,000) and you can borrow up to 80% of your property’s value. You won’t have to pay any application or ongoing monthly fees to access the full range of features including extra repayment flexibility, a redraw facility if you’re ahead of your scheduled repayments (minimum $1,000) and the choice between weekly, fortnightly or monthly repayments.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 2.34% p.a. | 2.34% p.a. | $0.00 | $0 | Go to site | ||
| 2.88% p.a. | 2.55% p.a. | $0.00 | $0 | |||
| 3.14% p.a. | 3.01% p.a. | $0.00 | $0 | |||
| 2.74% p.a. | 2.74% p.a. | $0.00 | $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.
Choosing a home loan with UBank means you can manage your home loan from the comfort of your own couch or bed or anywhere really. In case you’re not comfortable using a provider without a physical branch, head on over to our comparison tool and choose a provider with an extensive branch network.
As a direct bank, UBank has passed on its cost savings to customers through no application or ongoing fees on any of its fixed or variable home loans.
When you sign up to UBank’s fixed rate you can use the optional rate lock feature as an added guarantee that you will be charged the advertised interest rate even if there is a rate rise before the loan settles. Be mindful you will be charged a fee to use this feature.
Mozo users have rated UBank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
21 Reviews
We have been sent in circles for 3 months for a refinance. Resubmitted the same documents several times, customer service is disgusting. Would never recommend! Have now made 2 requests for details to lodge a formal complaint, but have not been forthcoming.
Read full reviewWe have been sent in circles for 3 months for a refinance. Resubmitted the same documents several times, customer service is disgusting. Would never recommend! Have now made 2 requests for details to lodge a formal complaint, but have not been forthcoming.
The best interest rates. Such a simple application process, great communication the whole way through. App is super easy to use. They have passed on many interest rate cuts. Brilliant.
Read full reviewThe best interest rates. Such a simple application process, great communication the whole way through. App is super easy to use. They have passed on many interest rate cuts. Brilliant.
Good rates all looks good but once they have you, not much help! Can't even get a home loan account statement online to go somewhere else. Three months work refinancing I thought all was good, go to sign paperwork only to find the amount wasn't what was asked for, nor was I told why or how to improve the problem. Cant wait to go!
Read full reviewGood rates all looks good but once they have you, not much help! Can't even get a home loan account statement online to go somewhere else. Three months work refinancing I thought all was good, go to sign paperwork only to find the amount wasn't what was asked for, nor was I told why or how to improve the problem. Cant wait to go!
Wait lines on the phone can be a bit extensive, however, everything during COVID is. The app doesn’t have the feature to manage your home loan through it- it takes you to a website, if this feature was available, I would not have any complaints what’s so ever.
Read full reviewWait lines on the phone can be a bit extensive, however, everything during COVID is. The app doesn’t have the feature to manage your home loan through it- it takes you to a website, if this feature was available, I would not have any complaints what’s so ever.
Completely waste of time. We tried to refinance with them and it took them more than a month to conclude that we are not eligible. They could have told us to start with. In terms of documents, it went back and forth for 5 rounds for them to say exactly what they need. The guidance on their website is more like a decoration. Living expense is calculated without clarity. Case manager is very unresponsive and unprofessional and refuses to take calls. The low rate comes with all pain!
Read full reviewCompletely waste of time. We tried to refinance with them and it took them more than a month to conclude that we are not eligible. They could have told us to start with. In terms of documents, it went back and forth for 5 rounds for them to say exactly what they need. The guidance on their website is more like a decoration. Living expense is calculated without clarity. Case manager is very unresponsive and unprofessional and refuses to take calls. The low rate comes with all pain!
To apply for a UBank home loan, you will need to complete and submit an online application. In order to finalise your home loan application, you’ll need to supply the following documents:
