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Bank Australia

Basic Home Loan

Interest rate

3.20

% p.a

Fixed - 5 years

Comparison Rate*

2.86

% p.a

Maximum LVR
70%
Real Time Rating™

1.19

/ 5
Monthly Repayment

$1,454

based on $300,000 loan amount for 25 years at 3.20%

Interest rate

3.20

% p.a

Fixed - 5 years

Comparison Rate*

2.86

% p.a

Maximum LVR
70%
Real Time Rating™

1.19

/ 5
Monthly Repayment

$1,454

based on $300,000 loan amount for 25 years at 3.20%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,454

based on $300,000 loan amount for 25 years at 3.20%

Quick home loan review

For Basic Investment Loan Fixed (Interest Only) 5 Years (LVR 60%-70%)

These are the benefits of this home loan.

  • No ongoing fees
  • Parents can sign as guarantor
  • Split account option

These are the drawbacks of this home loan.

  • No extra repayments
  • No redraw and no offset
  • Higher than average interest rate
  • Loan reverts to higher rate after fixed period
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 70% of the property's value

Home loan overview

For Basic Investment Loan Fixed (Interest Only) 5 Years (LVR 60%-70%)

TMD

Details

Maximum LVR

70%

Total Repayments

Next LVR

Interest rate type

Fixed - 5 years

Borrowing range

Suitable for

Investors

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Not Allowed

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

595

Application fee

595

Valuation fee

$0

Settlement fee

0

Other upfront fee

0

Ongoing fee

$0

Discharge fee

250

Application method

Online

Phone

In branch

Target Market Determination

Visit Bank Australia to view Target Market Determination.

Other Benefits

Eligible for a 0.40% p.a. discount off your interest rate for up to five years on buying or building a NatHERS rated 7 Star or higher home, or planning sustainable upgrades

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $10k to $99,999,999.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 70 percent, which means it requires a minimum deposit of 30 percent

What's the maximum length for this loan?

Bank Australia allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Bank Australia allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $595 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

Where can you apply for this loan?

Bank Australia makes it possible to apply for this product online. Apply here.

Can a broker help me with this loan?

Yes, this Bank Australia loan is available through a broker. Find a broker to help you with your needs.