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Australian Military Bank Home Loans

The Australian Military Bank was founded in 1959 and is Australia’s longest serving defence financial organisation with over $1 billion in total assets. Formerly the Australian Defence Credit Union, it was renamed the Australian Military bank in 2015.

The bank has over 50,000 members and over 30 branches at military bases around Australia. They offer home and personal loans, credit cards, savings accounts, insurance and superannuation, as well as financial planning and advice.

The Australian Military Bank has won numerous awards, including Money Magazine’s Best DIY Savings Account Award in 2016.

Australian Military Bank Home Equity Overdraft

The Australian Military Bank Home Equity Overdraft allows customers to borrow up to 80 per cent of the value of their property with a minimum loan amount of $50,000. The loan gives homeowners access to the equity they own in their property as a variable line of credit loan. Customers are charged a small monthly fee and have the ability to make additional repayments and unlimited redraws. A minimum repayment of one per cent of the loan is required each month and the loan can be split.

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Australian Military Bank Fixed Rate Loan

The Australian Military Bank Fixed Rate Loan offers a fixed interest rate for a period of two, three or five years and has a minimum loan amount of $150,000. Customers can borrow a maximum of 95 per cent of the value of their property and are given a discounted interest rate if the loan amount is below 80 per cent of the property value.

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Australian Military Bank Investment Home Loan

The Australian Military Bank Investment Home Loan is a variable rate loan available to investors. The loan has a minimum loan amount of $30,000 and allows customers to borrow up to 90 per cent of the property value. Repayments can be made as either principal and interest or interest-only and customers have the ability to make unlimited additional repayments. There is also an offset account and redraw facility and loans below 80 per cent of the property value receive a discounted variable rate.

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Australian Military Bank Value Home Loan

The Australian Military Bank Value Home Loan allows customers to borrow up to 95 per cent of the value of their property on a variable rate loan with a minimum loan amount of $250,000. Repayments can be made weekly, fortnightly or monthly on a principal and interest basis. Additional repayments are also permitted and customers can access these payments via a redraw facility. There is also a 100 per cent offset account for those wanting to use their savings to minimise the interest paid on the loan.

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Australian Military Bank Variable Offset Loan

The Australian Military Bank Variable Offset Loan is a variable rate loan with a minimum loan amount of $50,000. Customers can borrow up to 95 per cent of the property value and can make repayments on a weekly, fortnightly and monthly basis. Additional repayments and redraws are also available and customers have the option of an offset account to help reduce the interest owed.

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Home Loans from Australian Military Bank

Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
Advertised Rate3.99%Fixed - 3 years
Comparison Rate4.88%
Monthly Repayment$1324over 30 years
Details
Advertised Rate4.84%Variable
Comparison Rate4.89%
Monthly Repayment$1325over 30 years
Details
Advertised Rate4.34%Fixed - 3 years
Comparison Rate4.98%
Monthly Repayment$1339over 30 years
Details
Advertised Rate4.69%Fixed - 5 years
Comparison Rate4.99%
Monthly Repayment$1341over 30 years
Details
Advertised Rate4.29%Fixed - 2 years
Comparison Rate5.03%
Monthly Repayment$1347over 30 years
Details
Advertised Rate5.14%Variable
Comparison Rate5.19%
Monthly Repayment$1371over 30 years
Details
Advertised Rate4.85%Fixed - 3 years
Comparison Rate5.21%
Monthly Repayment$1374over 30 years
Details
Advertised Rate4.80%Fixed - 2 years
Comparison Rate5.23%
Monthly Repayment$1377over 30 years
Details
Advertised Rate5.20%Variable
Comparison Rate5.25%
Monthly Repayment$1381over 30 years
Details
Advertised Rate5.20%Variable
Comparison Rate5.25%
Monthly Repayment$1381over 30 years
Details
Advertised Rate5.25%Fixed - 2 years
Comparison Rate5.32%
Monthly Repayment$1391over 30 years
Details
Advertised Rate5.30%Fixed - 3 years
Comparison Rate5.34%
Monthly Repayment$1394over 30 years
Details
Advertised Rate5.34%Variable
Comparison Rate5.44%
Monthly Repayment$1410over 30 years
Details
Pros
  • Interest only option for investors.
  • Discounted rates for large deposits.
  • Flexible payment options.
Cons
  • Relatively high variable rates.
  • Branch access limited to military bases.
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Customer Service

Home loan customers can contact the Australian Military Bank in a variety of ways. They have a general customer phone line and can also be contacted by email or online. Customers can also meet with a lending specialist in person at a local branch or request a call back via the Australian Military Bank website.

Customer service centre (phone)

Mobile app

Online banking

Email

Branch

Applying and Eligibility

Home loan customers at the Australian Military Bank can apply for a loan via an online application form. There is also the option to call or visit a lending specialist in person at an Australian Military Bank branch, or to make an appointment with a mobile lender at a preferred time and location.

Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Proof of personal identification.
  • Proof of income and employment.
  • Proof of other income, assets and earnings.
  • Details of current debts, loans and liabilities.
  • Personal insurance documents.
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