Rates and fees verified as correct at 14 April, 2021. Other information correct at the time of writing. Advertiser disclosure.
After a competitive fixed rate on your home loan? The Fixed Option Home Loan offer from UniBank could deliver just that, with relatively low rates on fixed terms from 1-5 years available to both owner occupiers and investors. Eligible customers can take out a loan from $25,000, with owner occupiers able to borrow up to 95% of the property’s value. The loan also comes with a few flexible options to tailor your loan to your needs including a choice between weekly, fortnightly or monthly repayments and the chance to split your loan between fixed and variable rates. You’ll also have the use of an offset account. But keep in mind there are a number of one-off fees to budget for.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 2.24% p.a. | 3.97% p.a. | $0.00 | $600 | ||
| 2.04% p.a. | 3.81% p.a. | $0.00 | $600 | ||
| 2.54% p.a. | 4.04% p.a. | $0.00 | $600 | ||
| 2.34% p.a. | 3.88% p.a. | $0.00 | $600 |
If you’re after an even more flexible mortgage solution, you might want to opt for one of UniBank’s variable rate home loans instead. The Classic Home Loan offer is available for up to 85% of the property’s value, starting from $250,000, while the Flexi Choice Home Loan and My First Home Loan options are available for up to 95% of the property’s value, starting from $25,000. You’ll have the ability to make unlimited extra repayments on all the offers, as well as the use of a free redraw facility and the chance to take a repayment holiday. However, if an offset account is a feature you need then either the Flexi or My First loans will suit you, whereas borrowers looking for a lower variable rate could be better off with the Classic loan. Keep in mind that you’ll need to pay a number of one-off upfront fees with each other, aside from the first home buyers offers.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 2.55% p.a.fixed for 12 months and then 3.04% p.a. | 3.04% p.a. | $0.00 | $600 | ||
| 3.04% p.a. | 3.08% p.a. | $0.00 | $600 | ||
| 4.37% p.a. | 4.41% p.a. | $0.00 | $600 | ||
| 4.16% p.a. | 4.16% p.a. | $0.00 | $0 | ||
| 3.19% p.a. | 3.23% p.a. | $0.00 | $600 | ||
| 4.37% p.a. | 4.41% p.a. | $0.00 | $600 |
Different rate tiers apply to different loan amounts when you take out UniBank's variable rate home loan package: the Solutions Plus Home Loan (Rewards Package). Minimum loan amounts start from $150,000 to $700,000 and borrowers can borrow anywhere from 60% up to 95% of the property’s value. In terms of features, the package offer includes free extra repayments, a free redraw facility, the use of an offset account and the opportunity to take a repayment holiday. Borrowers can also choose between weekly, fortnightly or monthly repayments, and they can split their loan between fixed and variable rates. The UniBank Rewards Package also offers some extra perks like discounts on your insurance, bonus interest on savings accounts and term deposits, and waived fees on both personal loans and everyday access accounts. Like all package offers, these extra perks come at a cost though - a yearly $300 package fee.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 3.24% p.a. | 3.59% p.a. | $300.00 yearly | $600 | ||
| 3.22% p.a. | 3.57% p.a. | $300.00 yearly | $600 | ||
| 3.20% p.a. | 3.55% p.a. | $300.00 yearly | $600 | ||
| 3.18% p.a. | 3.53% p.a. | $300.00 yearly | $600 | ||
| 3.09% p.a. | 3.44% p.a. | $300.00 yearly | $600 | ||
| 3.07% p.a. | 3.43% p.a. | $300.00 yearly | $600 | ||
| 3.05% p.a. | 3.41% p.a. | $300.00 yearly | $600 | ||
| 3.03% p.a. | 3.39% p.a. | $300.00 yearly | $600 | ||
| 4.21% p.a. | 4.55% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 3.71% p.a. | 4.05% p.a. | $300.00 yearly | $600 | ||
| 3.78% p.a. | 4.12% p.a. | $300.00 yearly | $600 | ||
| 3.83% p.a. | 4.17% p.a. | $300.00 yearly | $600 | ||
| 3.15% p.a. | 3.50% p.a. | $300.00 yearly | $600 | ||
| 3.13% p.a. | 3.48% p.a. | $300.00 yearly | $600 | ||
| 3.17% p.a. | 3.52% p.a. | $300.00 yearly | $600 | ||
| 3.19% p.a. | 3.54% p.a. | $300.00 yearly | $600 | ||
| 2.98% p.a. | 3.34% p.a. | $300.00 yearly | $600 | ||
| 3.00% p.a. | 3.36% p.a. | $300.00 yearly | $600 | ||
| 3.02% p.a. | 3.38% p.a. | $300.00 yearly | $600 | ||
| 3.04% p.a. | 3.40% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 | ||
| 4.21% p.a. | 4.55% p.a. | $300.00 yearly | $600 | ||
| 4.14% p.a. | 4.48% p.a. | $300.00 yearly | $600 | ||
| 4.24% p.a. | 4.58% p.a. | $300.00 yearly | $600 | ||
| 4.28% p.a. | 4.62% p.a. | $300.00 yearly | $600 |
Not sure whether to opt for security or flexibility? UniBank home loan customers will have the best of both worlds by being able to split any mortgage offer into fixed and variable rate portions.
Many UniBank home loan offers are available with a loan-to-value ratio (LVR) as high as 95%. But keep in mind that, as with any other bank or lender, if your LVR is above 80% you’ll likely have to budget for Lender’s Mortgage Insurance as well.
Looking to cut down on interest costs? Stashing your savings in an offset account could help you do just that, so you'll be pleased to know that many of UBank's variable and even fixed home loan offers come with an offset account attached.
UniBank lets you choose to make your home loan repayments on a schedule which suits you best: either weekly, fortnightly or monthly.
Mozo users have rated UniBank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
7 Reviews
Clueless customer service team.
Read full reviewClueless customer service team.
I do not think Unicredit looks after existing customers very well. I tried to change the interest rate to fixed rate, they told me to come in to their office and I did, but the documents were not ready, never received any apologies or information after that. Their website is not very user friendly. In the end we decided to switch the banks. Although our new bank tried to settle the transfer, they did not answer, did not try to assist the process. It has been more than 4 weeks now, we are still waiting. When they found out that we were switching the banks, they tried to match the rate, but it was too late. We have already found out they are no good for the existing customers, our decision did not change. They should know that we have choices and should look after the existing customers as well as new customers.
Read full reviewI do not think Unicredit looks after existing customers very well. I tried to change the interest rate to fixed rate, they told me to come in to their office and I did, but the documents were not ready, never received any apologies or information after that. Their website is not very user friendly. In the end we decided to switch the banks. Although our new bank tried to settle the transfer, they did not answer, did not try to assist the process. It has been more than 4 weeks now, we are still waiting. When they found out that we were switching the banks, they tried to match the rate, but it was too late. We have already found out they are no good for the existing customers, our decision did not change. They should know that we have choices and should look after the existing customers as well as new customers.
They need to employ more people because having one person is not enough. Their customer service is good but just takes too long. I do not appreciate being told that I'll be called back, and it never happens. That is lying in my books. Applications take way too long to go through compared to other banks. What we get in a low interest (which is why we joined) we make up for with shocking customer service. Oh well.
Read full reviewThey need to employ more people because having one person is not enough. Their customer service is good but just takes too long. I do not appreciate being told that I'll be called back, and it never happens. That is lying in my books. Applications take way too long to go through compared to other banks. What we get in a low interest (which is why we joined) we make up for with shocking customer service. Oh well.
I joined Unicredit over thirty years ago and have been with them ever since. They are small and local, yet innovative. They are trustworthy and efficient to an unprecedented level. In over three decades, they have not once made an error, neglected to send a statement, ignored a request or done any of the things that are unfortunately so common in so-called "customer service" today. The most spectacular thing about them is that when I was a single, twenty-one year old woman, and wanted to buy a house on my own, they happily gave me a mortgage. Every other bank, building society and credit union turned me down unless I provided them with a male guarantor, despite the fact that I had a full-time, stable, permanent job. This shows that they have always been ahead of their time. Since then, I've had savings accounts, cheque accounts, credit cards, debit cards, and insurance with them. I have remained loyal to them, and they have never let me down.
Read full reviewI joined Unicredit over thirty years ago and have been with them ever since. They are small and local, yet innovative. They are trustworthy and efficient to an unprecedented level. In over three decades, they have not once made an error, neglected to send a statement, ignored a request or done any of the things that are unfortunately so common in so-called "customer service" today. The most spectacular thing about them is that when I was a single, twenty-one year old woman, and wanted to buy a house on my own, they happily gave me a mortgage. Every other bank, building society and credit union turned me down unless I provided them with a male guarantor, despite the fact that I had a full-time, stable, permanent job. This shows that they have always been ahead of their time. Since then, I've had savings accounts, cheque accounts, credit cards, debit cards, and insurance with them. I have remained loyal to them, and they have never let me down.
Setting up the account was fairly straight forward and the customer service in this respect was great. ATM network is okay with rediteller being widely available but branch access is not great. Not a huge problem for me. I signed up for the equity access account at 6.2% and a couple of months on the RBA cut rates by 0.25%. Unicredits answer to this was to increase my rate to 6.50%!!! No warning, no letter and no response to my query on why the interest rate went up when the cash rate went down. Very disappointed with this action as such a drastic move has considerable interest implications. A simple letter would have been appreciated. The rate is still decent in comparison to other lenders but I find it very hard to take that an unannounced rate increase is justified in this case. The slogan on the website 'Lower rates. Pass it on.' is not applicable here. I don't believe any other lender has increased their rates!
Read full reviewSetting up the account was fairly straight forward and the customer service in this respect was great. ATM network is okay with rediteller being widely available but branch access is not great. Not a huge problem for me. I signed up for the equity access account at 6.2% and a couple of months on the RBA cut rates by 0.25%. Unicredits answer to this was to increase my rate to 6.50%!!! No warning, no letter and no response to my query on why the interest rate went up when the cash rate went down. Very disappointed with this action as such a drastic move has considerable interest implications. A simple letter would have been appreciated. The rate is still decent in comparison to other lenders but I find it very hard to take that an unannounced rate increase is justified in this case. The slogan on the website 'Lower rates. Pass it on.' is not applicable here. I don't believe any other lender has increased their rates!
To take out a home loan with UniBank, you'll need to become a member first. To do that, you need to be a current or retired employee, graduate, post-graduate or current student of an Australian University or a family member of a member. Plus, you need to be an Australian citizen. You’ll pay a small fee to become a shareholder when you sign up.
After that you can look at applying for a home loan, for which you may need the following:
