UBank UHomeLoan - Discount Offer

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan between $100,000 and $199,999 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $200,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $100,000 and $2,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $100,000 $199,999

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $200,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $100,000 $2,000,000

2.74% p.a.

2.74% p.a.

$0.00

UBank UHomeLoan - Discount Offer

2.74% p.a.

2.74% p.a.

$0.00

2.59% p.a.

2.59% p.a.

$0.00

UBank UHomeLoan - Discount Offer

2.59% p.a.

2.59% p.a.

$0.00

3.13% p.a.

3.13% p.a.

$0.00

UBank UHomeLoan - Discount Offer

3.13% p.a.

3.13% p.a.

$0.00

Mozo Review   UBank UHomeLoan - Discount Offer Review

Last updated: 3 April 2020.

What's hot:
  • 2020 Home Lender Bank of the Year

  • 2.59% variable interest rate for loans over $200,000 (2.59% p.a. comparison rate*)

  • Two other 2019 Mozo Experts Choice Awards

  • No annual fees

What's not:
  • No offset account available

Mozo snapshot:

The UHomeLoan from 2020 Home Lender Bank of the Year, UBank, is available for refinancing and new purchases and it's sure to impress. For loans over $200k, borrowers can snag seriously competitive rates as low as 2.59% (2.59% comparison rate*). The loan also offers free extra repayments and a free redraw facility, plus UBank is also backed by NAB so you have the security of a big bank.

It even picked up two other 2020 Mozo Experts Choice Awards for Best Low Cost Home Loan and Best Split Home Loan. 

Key features:

The UBank UHomeloan comes with competitive low rate tiers from as little as 2.59% (2.59% comparison rate*) for borrowers taking out a loan of $200,000 or more, as well as no upfront or ongoing fees. You must apply for the home loan online, in fact the entire home loan is online - so get your digital skills ready. You'll get 24 hour Australian-based phone support if you need it and once you've applied you can keep track of your application with the online 'Application Tracker', so you know just where you are in the approval process.

Once you've been approved for the home loan, the flexibility on offer will not disappoint. There's a split account feature, which gives you the option of splitting your home loan up to 4 times, with a minimum split amount of $20,000. The UBank UHomeLoan also has a interest only payment option for an agreed period. While this may reduce your financial pressure, you won't be paying off the principal, so only do this for a short time.

Get paid weekly? Well, you'll be happy to hear that you have the option to choose between weekly, fortnightly and monthly repayments. When your finances are booming, you can make extra repayments through direct debit, salary crediting, BPAY and EFTPOS. But if you ever need to get that cash back, the home loan has a redraw facility over the phone.

Who it's good for:

The UBank UHomeLoan is made for anyone looking to switch to a low variable interest rate home loan, with the added benefit of extra repayments.

Any catches?

The Discount Offer is only available on new variable rate UHomeLoan applications, so if you already have a UHomeLoan you wont be eligible. 

Details

Rates and fees information correct as at 7 April 2020. 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
  • 2.74% p.a.

  • n/a

  • n/a

  • n/a

  • 2.74% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $100,000

  • $199,999

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • 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.

Details

Rates and fees information correct as at 7 April 2020. 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
  • 2.59% p.a.

  • n/a

  • n/a

  • n/a

  • 2.59% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $200,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • 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.

Details

Rates and fees information correct as at 7 April 2020. 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
  • 3.13% p.a.

  • n/a

  • n/a

  • n/a

  • 3.13% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $100,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • 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 UBank home loans rated by the Mozo community?

Overall customer rating
8.0/10
Price
9.4/10
Features
6.2/10
Customer service
7.3/10
Convenience
6.2/10
Trust
7.7/10

Latest review of UBank UHomeLoan - Discount Offer

  • Overall 7/10
    Cheap rates with no fuss.

    I like this bank because their rates are very low. A con is they take a long time 2-3 business days to return emails.

    Read full review

    I like this bank because their rates are very low. A con is they take a long time 2-3 business days to return emails.

    Price
    10/10
    Features
    10/10
    Customer service
    2/10
    Convenience
    3/10
    Trust
    6/10
    Less
    Craig, Queensland reviewed about 2 months ago
UBank

About UBank

UBank is a new direct bank which is backed by NAB, one of Australia's big four banks. UBank launched in 2008 with a competitive term deposit product, which customers can apply for and manage online. As a direct bank, UBank doesn't have a branch network but it does have a 24-hour, seven day a week 'person to person' phone banking centre for those wanting to speak to a real person. Cost savings are passed onto customers in the form of higher rates and lower fees. UBank now has a range of competitive term deposits, super and savings accounts. In 2011, it launched UHomeloan for refinancing its first home loan product.

See UBank home loans

Promoted

UBank

UBank

UHomeLoan (Fixed)

p.a.

3.00% p.a.

$0.00

Promoted

UBank

UBank

UHomeLoan (1 Year Fixed)

p.a.

n/a

$0.00

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.59% p.a. variable

2.59% p.a.

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.63% p.a. variable

2.65% p.a.

Promoted

ING

ING

Fixed Rate Loan (Owner Occupiers with Orange Advantage)

2.14% p.a.
fixed 3 years

3.62% p.a.

Promoted

HSBC

HSBC

Home Value Loan

2.65% p.a. variable

2.66% p.a.

Promoted

ME

ME

Flexible Home Loan (Member Package)

2.79% p.a. variable

3.23% p.a.

Promoted

Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

2.94% p.a. variable

2.98% p.a.

Promoted

ING

ING

Mortgage Simplifier

2.78% p.a. variable

2.81% p.a.

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.39% p.a.
fixed 3 years

3.08% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.59% p.a. variable

2.59% p.a.

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.63% p.a. variable

2.65% p.a.

Promoted

ING

ING

Mortgage Simplifier

2.78% p.a. variable

2.81% p.a.

Promoted

HSBC

HSBC

Home Value Loan

2.65% p.a. variable

2.66% p.a.

Promoted

ME

ME

Flexible Home Loan (Member Package)

2.79% p.a. variable

3.23% p.a.

Promoted

Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

2.94% p.a. variable

2.98% p.a.

Promoted

Gateway Bank

Gateway Bank

Low Rate Essentials Home Loan

2.76% p.a. variable

2.79% p.a.

Promoted

IMB Bank

IMB Bank

Budget Home Loan

2.78% p.a. variable

2.84% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.59% p.a.

2.59% p.a.

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.63% p.a.

2.65% p.a.

Promoted

ING

ING

Mortgage Simplifier

2.78% p.a.

2.81% p.a.

Promoted

HSBC

HSBC

Home Value Loan

2.65% p.a.

2.66% p.a.

Promoted

ME

ME

Flexible Home Loan (Member Package)

2.79% p.a.

3.23% p.a.

Promoted

Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

2.94% p.a.

2.98% p.a.

Promoted

Gateway Bank

Gateway Bank

Low Rate Essentials Home Loan

2.76% p.a.

2.79% p.a.

Promoted

Qudos Bank

Qudos Bank

Qantas Points Home Loan (Package)

3.14% p.a.

3.14% p.a.

Promoted

ING

ING

Fixed Rate Loan (Owner Occupiers with Orange Advantage)

2.14% p.a.
fixed 3 years

3.62% p.a.

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.69% p.a.
fixed 3 years

3.00% p.a.

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.39% p.a.
fixed 3 years

3.08% p.a.

Promoted

HSBC

HSBC

Fixed Rate Home Loan (Premier)

2.25% p.a.
fixed 3 years

3.12% p.a.

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.84% p.a.
fixed 3 years

3.40% p.a.

Promoted

Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

2.39% p.a.
fixed 3 years

3.66% p.a.

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.39% p.a.
fixed 3 years

3.08% p.a.

Promoted

Qudos Bank

Qudos Bank

Fixed Rate Home Loan

2.49% p.a.
fixed 3 years

2.94% p.a.

Promoted

UBank

UBank

UHomeLoan - Discount Offer

2.59% p.a.

2.59% p.a.

$0.00

Promoted

loans.com.au

loans.com.au

Smart Home Loan

2.63% p.a.

2.65% p.a.

$0.00

Promoted

HSBC

HSBC

Home Value Loan

2.65% p.a.

2.66% p.a.

$0.00

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.44% p.a.

2.47% 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.