Bank Australia Basic Home Loan Fixed
Fixed rate
Our Basic Home Loan is anything but, with a low rate, low fees and feel-good features. With the certainty of a fixed rate.
- Interest rate a year, from
- 6.74%
- Comparison rate
- 6.42%
- Upfront fees
- None
- Annual fee
- None
- Monthly fee
- None
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.74% (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
- $3,888
- Total repayments
- $1,399,536
- Interest
- $799,536
Rates
Every rate Bank Australia 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 | Up to 60% | 6.74% | 6.42% |
| 1 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.74% | 6.42% |
| 1 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.74% | 6.43% |
| 1 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.04% | 6.69% |
| 1 year fixed | Live in | Principal and interest | Over 90% | 7.04% | 6.92% |
| 2 year fixed | Live in | Principal and interest | Up to 60% | 6.79% | 6.47% |
| 2 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.79% | 6.47% |
| 2 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.79% | 6.47% |
| 2 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.04% | 6.72% |
| 2 year fixed | Live in | Principal and interest | Over 90.1% | 7.09% | 6.94% |
| 3 year fixed | Live in | Principal and interest | Up to 60% | 6.89% | 6.53% |
| 3 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.89% | 6.53% |
| 3 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.89% | 6.54% |
| 3 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.19% | 6.80% |
| 3 year fixed | Live in | Principal and interest | Over 90% | 7.19% | 6.99% |
| 5 year fixed | Live in | Principal and interest | Up to 60% | 6.99% | 6.65% |
| 5 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.99% | 6.65% |
| 5 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.99% | 6.66% |
| 5 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.29% | 6.93% |
| 5 year fixed | Live in | Principal and interest | Over 90% | 7.29% | 7.08% |
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
- None
- Annual fee
- None
- Monthly fee
- None
Features
- Offset account
- No
- Redraw
- No
- Highest LVR
- 90%
- Loan amount
- From $10,000
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
None
Typical upfront fees are $600.
Annual fee
None
A typical annual fee is $350.
Smallest deposit
10%
Most loans need at least 10% of the price.
Pros and cons
Pros
- No upfront fees. Less cash needed at settlement.
- No annual fee. Nothing extra to pay each year over the life of the loan.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- 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.