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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: 19 February 2021.

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What's hot
  • Low fixed 1.99% interest rate (2.33% comparison rate*) for 1 year
  • Free extra repayments up to $20,000 (per year)
  • 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 offers a competitive fixed 1.99% rate (2.33% comparison rate*) in the first year as well as 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 a year.

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Key features

UBank’s UHomeLoan (1 Year Fixed) offers one of the lowest rates in Mozo’s database at 1.99% (2.33% comparison rate*) in the first year of your loan. 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 p.a. 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 2.34% interest rate.

snapshot
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 20 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
  • n/a

  • n/a

  • n/a

  • n/a

  • 1.99% (2.33%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.34% 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 p.a.

  • no

  • no

  • none

  • yes

  • no

  • none

  • none

  • $395 Establishment fee waived for fixed rate loans that settle by 30 September 2021.

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
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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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UBank

UHomeLoan (Fixed)

p.a.

2.22% p.a.

$0.00

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UBank

UHomeLoan - Discount Offer

2.34% p.a.

2.34% p.a.

$0.00

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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. variable

2.47% 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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Athena

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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Well Home Loans

Well Balanced

2.17% p.a. variable

2.20% 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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Bank of Queensland

Fixed Rate

1.94% p.a.
fixed 3 years

2.97% 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. variable

2.47% p.a.

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Macquarie

Basic Home Loan (Fixed)

2.19% p.a.
fixed 3 years

2.53% p.a.

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Athena

AcceleRATES Variable Home Loan

2.19% p.a. variable

2.19% p.a.

Thumbnail icon for Tic:Toc

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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UBank

UHomeLoan (Fixed)

1.75% p.a.
fixed 3 years

2.22% p.a.

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86 400

Neat Home Loan

2.19% p.a. variable

2.20% p.a.

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Suncorp

Fixed Home Loan (Home Package Plus)

1.99% p.a.
fixed 3 years

2.83% p.a.

Thumbnail icon for loans.com.au

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.

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Macquarie

Basic Home Loan

2.64% p.a.

2.64% p.a.

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UBank

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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Suncorp

Back to Basics

2.44% p.a.

2.45% p.a.

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Homestar

Star Gold Home Loan

1.79% p.a.

1.84% p.a.

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Yard

Variable Home Loan Special

2.09% p.a.

2.12% p.a.

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HSBC

Home Value Loan

2.44% p.a.

2.45% p.a.

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loans.com.au

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.

Thumbnail icon for Macquarie

Macquarie

Basic Home Loan (Fixed)

2.09% p.a.
fixed 3 years

2.43% p.a.

Thumbnail icon for Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

1.98% p.a.
fixed 3 years

3.56% p.a.

Thumbnail icon for HSBC

HSBC

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

Thumbnail icon for People's Choice Credit Union

People's Choice Credit Union

Fixed Rate Home Loan (Package)

1.89% p.a.
fixed 3 years

3.03% p.a.

Thumbnail icon for Well Home Loans

Well Home Loans

Well Balanced Fixed

2.04% p.a.
fixed 3 years

2.17% p.a.

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.