Bank Australia is a Victoria-based mutual bank that is owned by its customers, rather than by shareholders. Beginning in 1957 as the Members and Education Credit Union, Bank Australia was renamed as bankmecu before adopting its current name in 2015. Bank Australia is based in Melbourne and has served tens of thousands of customers over its history.

Bank Australia offers a wide range of mortgages that charge competitive home loan interest rates.

Bank Australia home loans rates

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Pros:
  • Suitable for low deposits.
  • Opportunity to bundle financial products together.
  • Discounts available on interest rates.
  • Split loan options are included.
  • Flexible repayment schedule with weekly, fortnightly and monthly repayment options.
Cons:
  • Some products include fees.
  • Early exit fees apply to some products.
Bank Australia customer service:

Bank Australia has over 30 branches located across Australia, and it’s customers have access to more than 3000 rediATMs nationwide. Home loan customers can get in touch with Australia Bank by calling the customer service centre or seeking face-to-face advice in branch. Customers can also use online banking and a mobile app 24-hours a day. Email and post are also options for contact.

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking

How to Apply

Bank Australia home loan customers can visit a branch for assistance or seek further information by calling the customer service centre. Alternatively, customers can submit their contact details online and Bank Australia will get in touch with a courtesy call to help facilitate the application process. By applying online customers can choose a time that’s most convenient for their needs and receive an indicative decision within minutes. Before committing to any loan customers should conduct thorough research and calculate how much they can afford to borrow. To assist in completing a loan application customers should have the following documentation:

  • Personal identification.
  • Personal income details.
  • Details of current debts and assets.

FAQs

... are on a variable rate home loan, every so often your rate ... reading "What happens to my home loan when interest rates rise?"
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