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Adelaide Bank Home Loans

One of the six largest banks in Australia, Adelaide Bank was established in 1994. Originating from Australia’s largest building society, the Co-operative Building Society of South Australia, Adelaide Bank’s legacy goes back more than 100 years.

Adelaide Bank is among Australia’s leading lenders and manages assets of over $17 billion from its headquarters in South Australia. Adelaide Bank customers have access to over 2000 ATMs across Australia.

Adelaide Bank is well known for its user-friendly products and offers a wide range including insurances, bank accounts, credit cards and home loans. It’s believed to generate more than three per cent of Australian mortgage loan approvals annually.

Since a merger with Bendigo Bank in 2007, Adelaide Bank has operated as a dedicated lending business specialising in providing mortgage and loan services to everyday banking customers.

Adelaide Bank Home Loan Calculator

Interested in an Adelaide Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Adelaide Bank compares to its competitors. Simply plug in your borrowing amount below. 

Adelaide Bank SmartDoc Plus Loan

The SmartDoc Plus Loan from Adelaide Bank has all the features of a SmartDoc Loan including a variable rate, 100 per cent offset, repayment flexibility, and a choice between principal and interest and interest only repayments. It’s straightforward to apply for and requires minimal paperwork which makes it a popular choice among self-employed borrowers. With a SmartDoc Plus Loan it’s possible to borrow up to 70 per cent of a property’s value for a period of five to 30 years. As lenders mortgage insurance is not required with this product, it’s not possible to release equity in your property.

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Adelaide Bank SmartFit Loan

The SmartFit Loan is Adelaide Bank’s basic variable rate home loan which includes free redraw and allows borrowers to make unlimited additional repayments without incurring penalties. Suited to investors or those buying with the longer-term in mind, the SmartFit Loan also offers up to 10 years of interest only repayments. Customers have the option of just paying back the interest incurred on their home loan while benefitting from a 100 per cent offset facility. With a SmartDoc Loan it’s possible to borrow up to 95 per cent of a property’s value for a period of five to 30 years.

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Adelaide Bank SmartSaver Loan

The SmartSaver Loan is a basic home loan with a variable rate and the flexibility of redraw. Helping savers to keep costs to a minimum this mortgage comes with no monthly fees and will allow customers to pay off their entire loan without incurring penalties. As with all Adelaide Bank home loans there’s a choice of principal and interest or interest only repayments and it’s possible to borrow up to 95 per cent of a property’s value for five to 30 years. The SmartSaver Loan is the only home loan that doesn’t offer an offset facility.

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Adelaide Bank SmartFix Loan

Adelaide Bank’s SmartFix Loan gives borrowers the option of fixing their interest rate for a set period of between one and five years. 100 per cent offset is also available, plus a choice between principal and interest and interest only repayments. Additional repayments can also be made to the value of $20,000 per year. With a SmartFix Loan it’s possible to borrow up to 95 per cent of a property’s value for a period of five to 30 years. There’s also free redraw and the option to release equity.

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Adelaide Bank SmartDoc Loan

The Adelaide Bank SmartDoc Loan may be ideal for Australians who are self-employed. This variable rate loan allows customers to access a fully-featured home loan without having to provide all of the paperwork that’s usually required. Instead of payslips and tax returns being needed to prove earnings, this low documentation loan simply requires a signed declaration stating the borrower’s income, which is then verified by their accountant. With a SmartDoc Loan it’s possible to borrow up to 80 per cent of a property’s value for a period of five to 30 years. While the Adelaide Bank SmartDoc Loan offers many beneficial features including 100 per cent offset, repayment flexibility and a choice between principal and interest and interest only repayments, it’s likely customers will pay a higher interest rate as a trade-off for less paperwork.

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Home Loans from Adelaide Bank

Pros
  • 100 per cent offset is available on most home loans (not including the SmartSaver loan).
  • All loans offer a choice between principal and interest or interest only repayments.
  • Can accommodate people with smaller deposits.
  • Extra repayments are allowed on all home loans, with some capping additional repayments at $20,000.
Cons
  • Ongoing monthly fees apply to most home loans (not including the SmartSaver loan).
  • Not all accounts offer equity release.
  • No package deals are offered.
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Customer Service

Adelaide Bank home loan customers can get in touch with their mortgage provider in a variety of different ways. Depending on the needs of the customer it’s possible to speak to the bank directly either face-to-face in branch or by calling the customer service centre. Customers with access to the internet can obtain a full overview of their Adelaide Bank accounts online or via their mobile app. It’s also possible to get in touch via email. If a home loan customer’s personal circumstances change and they need to seek assistance restructuring their repayments, Adelaide Bank offers a financial hardship hotline.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch
Applying and Eligibility

To begin the process of arranging a home loan, borrowers will need to apply online or in branch to arrange a face-to-face interview with a mortgage broker. Adelaide Bank has a network of over 5000 approved mortgage brokers across Australia who will facilitate the entire process for customers. Before meeting a broker it’s recommended that those seeking a mortgage look at the range of home loans available and consider how much they can afford to borrow, and over what time period. Even when applying for the paperwork-light SmartDoc and SmartDoc Plus loans it’s likely that some documents will be required upon application. These may include:

  • Personal identification.
  • Details of current assets, including estimated values.
  • Details of current debts, including credit limits.
  • Gross income.
  • Estimated value of any property offered as security.
  • Details of deposit and equity.
  • Previous mortgage statements (for refinancers).
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