Bank Australia Offset Home Loan Fixed
Fixed rateOffset
A home loan packed with positives for future generations.
- Interest rate a year, from
- 6.74%
- Comparison rate
- 6.60%
- Upfront fees
- None
- Annual fee
- $388
- 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% | 6.60% |
| 1 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.74% | 6.60% |
| 1 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.74% | 6.65% |
| 1 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.04% | 6.87% |
| 1 year fixed | Live in | Principal and interest | Over 90% | 7.04% | 7.31% |
| 2 year fixed | Live in | Principal and interest | Up to 60% | 6.79% | 6.65% |
| 2 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.79% | 6.65% |
| 2 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.79% | 6.69% |
| 2 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.04% | 6.91% |
| 2 year fixed | Live in | Principal and interest | Over 90% | 7.09% | 7.31% |
| 3 year fixed | Live in | Principal and interest | Up to 60% | 6.89% | 6.71% |
| 3 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.89% | 6.71% |
| 3 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.89% | 6.75% |
| 3 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.19% | 6.98% |
| 3 year fixed | Live in | Principal and interest | Over 90% | 7.19% | 7.34% |
| 5 year fixed | Live in | Principal and interest | Up to 60% | 6.99% | 6.84% |
| 5 year fixed | Live in | Principal and interest | 60.099999999999994% to 70% | 6.99% | 6.84% |
| 5 year fixed | Live in | Principal and interest | 70.1% to 80% | 6.99% | 6.87% |
| 5 year fixed | Live in | Principal and interest | 80.10000000000001% to 90% | 7.29% | 7.12% |
| 5 year fixed | Live in | Principal and interest | Over 90% | 7.29% | 7.39% |
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
- $388
- Monthly fee
- None
Features
- Offset account
- Yes
- 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
$388
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.
- An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
- 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
Nothing stands out.