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Up Home Fixed Rate

Advertiser disclosure
Fixed 3 year rate
5.80% p.a.
Comparison Rate
5.91% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review Up Home Fixed Rate - last updated: 1 March 2024

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What's hot
  • 5.85% p.a. fixed rate (5.93% p.a. comparison rate*) for 2 year term
  • Low on fees
  • Up to $30,000 in extra repayments
  • 10% minimum deposit
What's not
  • Only for capital cities and major regional centres
Mozo snapshot

Up is a digital bank that came into the Australian banking world in 2018—and, since 2022, has offered a variable and fixed home loan known as Up Home. The fixed home loan comes with low fees, the ability to make up to $30,000 in additional repayments, and terms 1-5 years with the 2-year fixed rate option of 5.85% p.a. (5.93% p.a. comparison rate*) and is available for borrowers with a deposit of 10% or more.

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Key features

With the fixed rate option for Up Home, borrowers can choose terms from 1 to 5 years, which helps with budgeting as they’ll know what their repayments will be for the length of the loan term. What happens when a term ends? Borrowers can choose to re-fix for another term or be rolled over to Up Home’s variable rate option.   

For borrowers who want to make extra repayments with a fixed rate loan, Up Home comes with the ability to repay an additional $30,000. Plus, if they ever need that money, Up Home comes with a free redraw facility. 

What about fees then? Up Home has no application, setup, monthly or annual bank fees. However, while Up Home does pay the first $400 in valuation fees, borrowers do need to pay anything above that. 

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Who is it good for

Up Home might be a good option for owner-occupiers looking to get themselves a property in a major city. It could also be a good choice for borrowers who want the certainty of a fixed interest rate while still being able to make extra repayments and redraw.

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Any catches

Up’s home loan is only for capital cities and major regional centres. Borrowers who are unsure whether their intended property might be suited for Up Home can check in-app during the application process.

Details

Rates and fees information correct as at 29 May 2024. 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

6.00% (5.96%*)

5.85% (5.93%*)

5.80% (5.91%*)

5.80% (5.90%*)

5.80% (5.89%*)

n/a

n/a

5.95% p.a.

Fees

$0.00

$0.00

n/a

$0.00

n/a

$0.00

$0.00

Other financial bits

$50,000

$10,000,000

none

90.00%

Features

Monthly

yes - up to $30,000 during fixed rate term

no

yes - free

none

no

no

If valuation over $400, Up will cover the first $400. Must hold an Up everyday account.

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

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About Up

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6.01% p.a.

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HSBC

Home Value Loan

6.09% p.a. variable

6.09% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ANZ

Fixed Rate

6.59% p.a.
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7.06% p.a.

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Macquarie

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6.14% p.a. variable

6.16% p.a.

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Mortgage Simplifier

6.14% p.a. variable

6.17% p.a.

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Unloan

Variable

5.99% p.a. variable

5.90% p.a.

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Macquarie

Basic Home Loan

6.14% p.a. variable

6.16% p.a.

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Heritage Bank

Discount Variable Home Loan

5.99% p.a. variable

6.01% p.a.

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Unloan

Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan

6.24% p.a. variable

6.48% p.a.

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Aussie

Elevate

6.09% p.a. variable

6.20% p.a.

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ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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Macquarie

Offset Home Loan (Package)

6.14% p.a. variable

6.39% p.a.

Thumbnail icon for Unloan
Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Heritage Bank
Heritage Bank

Discount Variable Home Loan

5.99% p.a.

6.01% p.a.

Thumbnail icon for Aussie
Aussie

Elevate

6.09% p.a.

6.20% p.a.

Thumbnail icon for ING
ING

Mortgage Simplifier

6.14% p.a.

6.17% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.14% p.a.

6.39% p.a.

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loans.com.au

Variable Home Loan 90

6.04% p.a.

6.06% p.a.

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Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.25% p.a.
fixed 3 years

6.20% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

Thumbnail icon for ING
ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan (Fixed)

6.35% p.a.
fixed 3 years

6.26% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ANZ
ANZ

Fixed Rate

6.59% p.a.
fixed 3 years

7.06% 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.

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