Adelaide Bank SmartFix Loan


The SmartFix Loan gives you the benefit of knowing that your repayments won’t change over the fixed period. Adelaide Bank offers fixed loans from one to five years for owner occupier and investment purposes. This may put off borrowers who want longer fixed terms. You can choose between principal and interest and interest only repayments. An added plus for investors is that interest only repayments are available for up to 10 years, longer than some other lenders offer.

For principal and interest repayments, you have the option to pay weekly, fortnightly or monthly. With interest only repayments you can only repay monthly. Adelaide Bank offers a 100 per cent offset account. The offset account offering is a definite advantage, particularly for a fixed rate product as they aren't usually offered with fixed loans.

Offset accounts are a great way to cut interest costs, as the balance in the account offsets the home loan balance, which reduces interest costs. As interest is calculated daily on the mortgage, benefits accrue as soon as there is cash in the offset account.

Borrowers can make fee-free additional repayments of up to $20,000 each year on fixed rate loans, which is a generous amount, but break costs will apply if you repay more that. You can also get access to any extra repayments made with a free redraw facility, although the minimum redraw amount is $500.

A minimum loan amount of $10,000 applies and you can borrow up to $5 million. Having said that, you'll need lenders mortgage insurance if you borrow more than 60 per cent of the value of the property. But you can borrow up to 95 per cent with such insurance on a principal and interest loan or up to 90 per cent with an interest only loan. Another flexible feature is that you can split your loan into more than one portion, though a modest $100 fee applies per split.

Who is the Adelaide Bank SmartFix Loan good for?

The SmartFix Loan could suit first home buyers or established owner-occupier seeking to refinance or investors wanting a flexible home loan that allows interest only repayments and the use of an offset account, which is great if you have lots of savings as it will help you keep interest costs down. Borrowers can also use it for bridging finance. The loan can’t be used for construction, land or inner-city apartment purposes. The SmartFix Loan doesn’t allow for a second mortgage.

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If you are on the market for a fixed loan with flexible features, then the SmartFix Loan could be a great loan to consider. Adelaide Bank offers real benefits on its fixed loans such as an offset account and redraw facility, which could be highly beneficial. The option to make additional repayments is also a bonus if you’re looking to reduce the amount of interest payable. However, the monthly fee is a little high and may be something to consider before choosing this loan. There is also limited branch access in comparison to other banks, although they do provide an online banking service and 24-hour assistance. And if you’re after a longer fixed loan, then the five-year maximum on these loans may not meet your needs. But all up, given the flexibility of this fixed loan which most other lenders don’t offer, and the fact that it’s free to re-fix, it may be worthwhile to consider.

Adelaide Bank SmartFix Loan Options

The SmartFix Loan offers interest rates of one to five year terms for owner occupied and investment purposes. To see which loan is right for you, click on the links below to find out more.

Advertised rate
Comparison rate*
Monthly repayment
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Fixed Rates from


Advertised rate


Comparison rate
  • 100 per cent offset account.
  • Redraw facility.
  • Interest only repayments.
  • High interest rates.
  • Need lenders mortgage insurance where borrowings are 60 per cent or greater of a property’s value.
  • Relatively high monthly fees.

For individual or joint borrowers.

Not available for companies, trusts, or those self-employed for less than two years, or overseas or non-permanent Australian residents.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $495
  • Discharge fees: $325
  • Ongoing fees: $15 monthly

The SmartFix Loan comes with a moderate upfront fee. Adelaide Bank does charge a relatively high ongoing monthly fee. If you have more than one security, require guarantor support, or are seeking bridging finance, there you’ll need to pay additional fees, with a $200 fee for bridging finance. But on the plus side, it’s free to re-fix or convert to a SmartFit variable rate loan after the fixed period expires.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Adelaide Bank

Adelaide Bank was established in 1994 is now a division of Bendigo and Adelaide Bank Group formed in November 2007. Branch access is through Bendigo Bank that has almost 900 outlets and 1900 ATMs nationwide. Adelaide Bank operates a wholesale banking business, but its mortgages are available via its network of over 5000 mortgage broking partners across Australia. Once you have the loan, Adelaide Bank can be contacted 24 hours a day, seven days a week.

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