Advertiser disclosure
Bank of Sydney
Bank of Sydney, has been operating in Australia under a full Banking Licence since April 2001.
The bank employs over 150 staff, with headquarters in Sydney and over 16 branches throughout NSW, Victoria and South Australia. It offers financial products such as personal, car and home loans, credit cards, insurance as well as mortgage broking. The bank also offers currency exchange and international money transfer services.
Bank of Sydney home loan calculator
Interested in a Bank of Sydney home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Bank of Sydney compares to its competitors. Simply plug in your borrowing amount below.
Read More
Bank of Sydney home loan repayment calculator
Your estimated mortgage repayments
at interest rate 5.00%
Total interest payable
$0
Total loan repayments
$0
Pros and cons
- Specialised loans available, including line of credit and low doc loans.
- Additional repayments allowed on most loans.
- Offers discounted package loans.
- Limited branch access outside Sydney.
- High standard variable rate.
Bank of Sydney home loans rates
Product | Advertised Rate 2.84% Variable | Total estimated upfront fees | Comparison Rate* 2.89% | Ongoing fee | Go to site | Company | More details |
Advertised Rate 2.94% Variable | Total estimated upfront fees | Comparison Rate* 2.96% | Ongoing fee | Go to site | Company | Winner of Best package home loan, RateCity Gold Awards 2020 More details | |
Product | Advertised Rate 3.20% Variable | Total estimated upfront fees | Comparison Rate* 3.25% | Ongoing fee | Go to site | Company | More details |
Product | Advertised Rate 3.40% Variable | Total estimated upfront fees | Comparison Rate* 3.27% | Ongoing fee | Go to site | Company | More details |
Advertised Rate 2.79% Fixed - 3 years | Total estimated upfront fees | Comparison Rate* 3.33% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 2.79% Fixed - 2 years | Total estimated upfront fees | Comparison Rate* 3.34% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 2.79% Fixed - 1 year | Total estimated upfront fees | Comparison Rate* 3.36% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 2.99% Fixed - 5 years | Total estimated upfront fees | Comparison Rate* 3.39% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.15% Fixed - 3 years | Total estimated upfront fees | Comparison Rate* 3.83% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.15% Fixed - 2 years | Total estimated upfront fees | Comparison Rate* 3.85% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.35% Fixed - 5 years | Total estimated upfront fees | Comparison Rate* 3.85% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.15% Fixed - 1 year | Total estimated upfront fees | Comparison Rate* 3.88% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.35% Fixed - 3 years | Total estimated upfront fees | Comparison Rate* 3.88% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.35% Fixed - 2 years | Total estimated upfront fees | Comparison Rate* 3.89% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.35% Fixed - 1 year | Total estimated upfront fees | Comparison Rate* 3.90% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.50% Variable | Total estimated upfront fees | Comparison Rate* 3.91% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.60% Variable | Total estimated upfront fees | Comparison Rate* 3.92% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 3.65% Fixed - 5 years | Total estimated upfront fees | Comparison Rate* 3.97% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 5.13% Variable | Total estimated upfront fees | Comparison Rate* 5.29% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 5.13% Variable | Total estimated upfront fees | Comparison Rate* 5.29% | Ongoing fee | Go to site | Company | More details | |
Advertised Rate 6.06% Variable | Total estimated upfront fees | Comparison Rate* 6.21% | Ongoing fee | Go to site | Company | More details |
Bank of Sydney customer service
Home loan customers at Bank of Sydney can contact the bank in a number of ways. These include a customer service phone line, online, by email or in person at Bank of Sydney branches. Customers can enquire about Bank of Sydney home loan products through an online form or apply in person.
- Customer service centre (phone)
- Mobile app
- Online banking
- Live Chat
- Branch
- Mobile banking staff
How to Apply
Bank of Sydney allows potential customers to enquire about a home loan product via an online form, by phone or in person. However, there is no option to apply online and customers may find it easiest to apply at a Bank of Sydney branch. 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 may include:
- Personal identification documents.
- Proof of employment.
- Proof of income, earnings and assets.
- Information on current debts, loans and investments.
Learn more about Bank of Sydney
How do I apply for a home loan pre-approval from Commonwealth Bank?
To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.
Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.
It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.
Do the big four banks have guarantor home loans?
Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.
Interest Rate
Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.
Savings over
Select a number of years to see how much money you can save with different home loans over time.
e.g. To see how much you could save in two years by switching mortgages, set the slider to 2.
How can I get ANZ home loan pre-approval?
Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget.
At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.
An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.
You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).
Remaining loan term
The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.
Who offers 40 year mortgages?
Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank.
Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.
Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.
Can I take a personal loan after a home loan?
Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:
- Higher-income to show repayment capability for both the loans
- Clear credit history with no delays in bill payments or defaults on debts
- Zero or minimal current outstanding debt
- Some amount of savings
- Proven rent history will be positively perceived by the lenders
A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.
As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.
What is a variable home loan?
A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.
Monthly Repayment
Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.
Does Australia have no cost refinancing?
No Cost Refinancing is an option available in the US where the lender or broker covers your switching costs, such as appraisal fees and settlement costs. Unfortunately, no cost refinancing isn’t available in Australia.
Can I change jobs while I am applying for a home loan?
Whether you’re a new borrower or you’re refinancing your home loan, many lenders require you to be in a permanent job with the same employer for at least 6 months before applying for a home loan. Different lenders have different requirements.
If your work situation changes for any reason while you’re applying for a mortgage, this could reduce your chances of successfully completing the process. Contacting the lender as soon as you know your employment situation is changing may allow you to work something out.
If I don't like my new lender after I refinance, can I go back to my previous lender?
If you wish to return to your previous lender after refinancing, you will have to go through the refinancing process again and pay a second set of discharge and upfront fees.
Therefore, before you refinance, it’s important to weigh up the new prospective lender against your current lender in a number of areas, including fees, flexibility, customer service and interest rate.
Can I refinance if I have other products bundled with my home loan?
If your home loan was part of a package deal that included access to credit cards, transaction accounts or term deposits from the same lender, switching all of these over to a new lender can seem daunting. However, some lenders offer to manage part of this process for you as an incentive to refinance with them – contact your lender to learn more about what they offer.
What is an ombudsman?
An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.
These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.