Bank Australia's reduced rate home loan for green upgrades and property purchases.
Category: Home Loans Last Updated October 4, 2024 Effective November 1, 2024
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information
Interest Rate 5.88% PA
Comparison Rate 6.38%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
Eco/ Eco Upgrade
Lending Rate Type: Variable
Interest Rate: 5.98%, Comparison Rate 6.42%
Repayment Type: Principal And Interest
Loan Purpose: Owner Occupied
Product Features
Digital BankingAdditional Information: You can self-serve your day-to-day banking needs via Bank Australia's App or Internet Banking.
OffsetAdditional Information: A Mortgage Offset account reduces the amount of interest you pay on your home loan. The amount within this account is offset against your home loan, meaning you only pay interest on the difference.
OtherAdditional Information: Eco-Pause: Our Eco-Pause lets customers take a break from their mortgage repayments and redirect their money to eco upgrades such as solar panels, batteries and water tanks. With an eco-pause you can pause your repayments for three months or halve them fditions apply.
OtherAdditional Information: Flexible Repayments: Make your loan repayments weekly, fortnightly or monthly
OtherAdditional Information: Parental Pause: Welcoming a new family member to the family can place a pretty big strain on finances so we offer you the option of pausing your home loan repayments to give you some breathing space.This allows you to take a break from payments for three months# or halve them for six. Conditions apply.
OtherAdditional Information: Construction Loan Offset: We protect an equivalent amount of land on the Bank Australia Conservation Reserve as is being constructed to help offset the environmental impact of land clearing
RedrawAdditional Information: If you're ahead of your repayments, you may be able to redraw fee free, with restrictions if your loan is fixed
Product Eligibility
Min Age - 18. Additional Information: Individuals (natural persons) must have the legal capacity to enter into the loan contract, provide acceptable identification documentation and be 18 years or older.
Natural PersonAdditional Information: Individuals only: Not available for non-personal borrowers.
OtherAdditional Information: Eligibility for the Clean Energy Home Loan reduced rate is subject to the Bank's Energy Efficiency Criteria. Conditions apply.
OtherAdditional Information: Applications for loans are subject to the Bank's lending criteria.
Residency Status - Au. Additional Information: Australian citizen or permanent resident of Australia
Bank Fees and Charges
Mortgage Discharge Fee (Event), Amount: 350.00. Additional Information: Payable when you discharge the mortgage. Statutory government registration fees will still apply
Valuation Administration Fee (Event), Amount: 250.00. Additional Information: If you request a loan variation, Bank Australia may need to revalue your property before approving the request.
Loan Package Fee (Periodic), Amount: 350.00. Additional Information: Annual fee payable on all Premium Package loans. The fee is debited to the loan annually on the anniversary date of funding and is non refundable. Only one annual package fee applies per customer where multiple package loans exist
Portability Fee- New Mortgage (Event), Amount: 500.00. Additional Information: Payable when you request that a property securing a loan is replaced with a property that is a new security to Bank Australia.
Additional Valuation (Event), Amount: 150.00. Additional Information: The establishment fee covers a standard loan, which includes one valuation. This fee applies for any additional standard residential valuation required.
Portability Fee- Existing Mortgage (Event), Amount: 150.00. Additional Information: Payable when a property securing a loan is replaced with a property that is already registered with a Bank Australia mortgage.
Loan Variation Fee (Event), Amount: 150.00. Additional Information: Payable when transferring from a home loan product to a different home loan product. For example, transferring a variable rate product to a fixed rate product.