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UBank UHomeLoan (1 Year Fixed)

Advertiser disclosure
Fixed 3 year rate
p.a.
Comparison Rate
n/a
Service fee
$0.00
Upfront fee
$0
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Mozo editorial review UBank UHomeLoan (1 Year Fixed) - last updated: 6 October 2021

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What's hot
  • Low fixed 1.79% interest rate (2.18% comparison rate*) for 1 year offer
  • Free extra repayments up to $20,000 (per fixed period)
  • No service fee
What's not
  • $395 application fee
Mozo snapshot

If you’re looking to take advantage of a low 1 year fixed home loan rate, UBank’s UHomeLoan (1 Year Fixed) could be a good place to start and end your search. UBank is currently offering a competitive 1.79% p.a. 1-year fixed rate (2.18% p.a. comparison rate*), plus, it comes with no ongoing fees throughout the life of your loan. Not only that, this loan gives borrowers the flexibility to make weekly, fortnightly or monthly repayments, as well as to make free extra repayments up to $20,000 within the fixed period.

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Key features

UBank’s UHomeLoan (1 Year Fixed) currently offers a competitive 1.99% p.a. 1-year fixed rate (2.18% p.a. comparison rate*) and you can borrow up to 80% of the property value, anywhere between $100,000 and $2,000,000. 

An attractive feature of the UBank UHomeLoan (1 Year Fixed) is that you can make repayments at a frequency that suits you, whether that’s weekly, fortnightly or monthly. 

But that’s not all. If you make your regular repayments on time, you’ll be able to make free extra repayments of up to $20,000 over the fixed period. Make sure you tread with a bit of caution before you throw all your money at your home loan however. The UBank UHomeLoan doesn’t have a redraw facility, so you won’t be able to access those extra contributions if you need to later on. 

Not only do borrowers receive a low rate in the first year and flexible repayment options on this loan, there are no ongoing fees. Keep in mind though, UBank does charge a $395 application fee straight off the bat. 

Also remember that after the first year, your loan will revert from the 1st year fixed rate to a higher 2.19% variable interest rate.

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Who is it good for

The UBank UHomeLoan (1 Year Fixed) could be the perfect home loan for someone wanting both repayment stability and flexibility, but most importantly, a seriously competitive rate for the first year of the loan.

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Any catches

While there aren’t any ongoing fees on this home loan, keep in mind you will be charged a $395 fee when you first apply.

Details

Rates and fees information correct as at 4 December 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

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n/a

n/a

n/a

1.79% (2.18%*)

n/a

n/a

n/a

n/a

n/a

n/a

2.19% p.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

Weekly, Fortnightly, Monthly

yes - free up to $20,000 during fixed rate term

no

no

none

yes

no

none

none

$395 Establishment fee waived for fixed rate loans that settle by 30 September 2022.

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.

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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.