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UBank UHomeLoan - Discount Offer

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan of at least $100,000 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

  • Owner Occupier (Interest Only)

    LVR < 80%

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

Rate
2.34% p.a.
Comparison Rate
2.34% p.a.
Service fee
$0.00
Upfront fee
$0
Go to site
Rate
2.88% p.a.
Comparison Rate
2.55% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review UBank UHomeLoan - Discount Offer

Last updated: 18 March 2021.

5 / 5
binocular icon
What's hot
  • 2.34% variable interest rate (2.34% comparison rate*)
  • No annual fees
  • 2021 Mozo Experts Choice Award winner
What's not
  • No offset account available
Mozo snapshot

The UBank UHomeloan is available for refinancing and new purchases and it's sure to impress. Borrowers can snag seriously competitive rates as low as 2.34% (2.34% 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 was also awarded two 2021 Mozo Experts Choice Awards for Best Low Cost Home Loan and Best Split Home Loan. 


key icon
Key features

The UBank UHomeloan comes with competitive low rate tiers from as little as 2.34% (2.34% comparison rate*) for owner occupiers, as well as no upfront or ongoing fees. You must apply for the home loan online, in fact the entire home loan is online. You will get 24 hour Australian-based phone support if you need it though, 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 four times, with a minimum split amount of $20,000. The UBank UHomeLoan also has an interest-only payment option for an agreed period. While this may reduce your financial pressure, you won't be paying off the principal, so you may only want to consider this as a short-term option.

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.

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Who is it good for

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

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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. There's also no offset account available with the loan, which may be an important feature for some borrowers. 

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 17 April 2021. 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
  • 2.34% p.a.

  • n/a

  • n/a

  • n/a

  • 2.34% 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

  • 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 17 April 2021. 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
  • 2.88% p.a.

  • n/a

  • n/a

  • n/a

  • 2.55% 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
6.6/10
Price
8.3/10
Features
6.0/10
Customer service
6.0/10
Convenience
5.6/10
Trust
6.7/10

Latest reviews of UBank UHomeLoan - Discount Offer

Thumbnail icon for 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

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UHomeLoan (Fixed)

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1.75% p.a.
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2.09% p.a.
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2.43% p.a.

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AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

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1.99% p.a.
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2.20% p.a.

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1.98% p.a.
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2.97% p.a.

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Smart Booster Home Loan

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Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

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Tic:Toc

Fixed Home Loan

1.99% p.a.
fixed 3 years

2.15% p.a.

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Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

1.98% p.a.
fixed 3 years

3.56% p.a.

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Low Rate Home Loan

2.14% p.a. variable

2.16% p.a.

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UHomeLoan (Fixed)

1.75% p.a.
fixed 3 years

2.22% p.a.

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2.20% p.a.

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Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

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Basic Home Loan

2.64% p.a.

2.64% p.a.

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UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

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Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.19% p.a.

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Low Rate Home Loan

2.14% p.a.

2.16% p.a.

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2.44% p.a.

2.45% p.a.

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1.79% p.a.

1.84% p.a.

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Variable Home Loan Special

2.09% p.a.

2.12% p.a.

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Fixed Home Loan

1.99% p.a.
fixed 3 years

2.70% p.a.

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UBank

UHomeLoan (Fixed)

1.75% p.a.
fixed 3 years

2.22% p.a.

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Macquarie

Basic Home Loan (Fixed)

2.09% p.a.
fixed 3 years

2.43% p.a.

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Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

1.98% p.a.
fixed 3 years

3.56% p.a.

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Fixed Rate Home Loan (Home Loan Package)

2.09% p.a.
fixed 3 years

2.86% p.a.

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Homestar

Star Classic Fixed Home Loan

n/a

n/a

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People's Choice Credit Union

Fixed Rate Home Loan (Package)

1.89% p.a.
fixed 3 years

3.03% p.a.

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Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% p.a.

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loans.com.au

Smart Booster Home Loan

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

$0.00

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Athena

AcceleRATES Variable Home Loan

2.19% p.a.

2.19% p.a.

$0.00

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Well Home Loans

Well Balanced

2.17% p.a.

2.20% p.a.

$0.00

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Homestar

Star Gold Home Loan

1.79% p.a.

1.84% p.a.

$0.00

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homeloans.com.au

Low Rate Home Loan

2.14% p.a.

2.16% p.a.

$0.00

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86 400

Neat Home Loan

2.19% p.a.

2.20% p.a.

$0.00

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Athena

AcceleRATES Variable Home Loan

2.29% p.a.

2.23% p.a.

$0.00

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Yard

Variable Home Loan Special

2.29% p.a.

2.32% 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.