Australian Mutual Bank Your Way Fixed Rate Home Loan
Fixed rateRedraw
Stay in control with the ability to adapt your loan as your needs change. Lock in a rate for up to 5 years with our Fixed Rate option.
- Interest rate a year, from
- 6.49%
- Comparison rate
- 6.29%
- Upfront fees
- $850
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.49% (1 year fixed, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,788
- Total repayments
- $1,363,847
- Interest
- $763,847
Rates
Every rate Australian Mutual Bank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| 1 year fixed | Live in | Principal and interest | Any | 6.49% | 6.29% |
| 2 year fixed | Live in | Principal and interest | Any | 6.89% | 6.39% |
| 3 year fixed | Live in | Principal and interest | Any | 6.99% | 6.48% |
| 4 year fixed | Live in | Principal and interest | Any | 7.09% | 6.59% |
| 5 year fixed | Live in | Principal and interest | Any | 7.14% | 6.68% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $850
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 98%
- Loan amount
- From $25,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Upfront fees
$850
Typical upfront fees are $600.
Smallest deposit
2%
Most loans need at least 10% of the price.
Pros and cons
Pros
- A smaller deposit. You can borrow with 2% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
- Redraw. You can take back extra repayments later if you need the money.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.