Bank of us home loan repayment calculator

Thinking about taking out a home loan with Bank of us? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Bank of us home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 2.29 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Suitable for low deposits.
  • Long loan terms of up to 45 years.
  • Flexible repayment schedule with weekly, fortnightly and monthly repayment options.
  • Offers discounts on interest rates.
  • Products are only available to residents of Tasmania.
  • Some products include fees.
  • Early break fees apply across the home loan product range.

Bank of us home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.29%

Fixed - 3 years

$0

2.69%

$10 monthly
Bank of us
More details

2.29%

Fixed - 2 years

$0

2.73%

$10 monthly
Bank of us
More details

2.29%

Fixed - 1 year

$0

2.77%

$10 monthly
Bank of us
More details

2.29%

Fixed - 3 years

$0

2.78%

$10 monthly
Bank of us
More details

2.79%

Variable

$0

2.81%

$10 monthly
Bank of us
More details

2.29%

Fixed - 2 years

$0

2.83%

$10 monthly
Bank of us
More details

2.29%

Fixed - 1 year

$0

2.87%

$10 monthly
Bank of us
More details

2.89%

Variable

$0

2.93%

$10 monthly
Bank of us
More details

3.03%

Variable

$1150

3.20%

$10 monthly
Bank of us
More details

3.19%

Variable

$1150

3.21%

$0
Bank of us
More details

3.29%

Variable

$1150

3.33%

$0
Bank of us
More details

3.43%

Variable

$1150

3.47%

$0
Bank of us
More details

3.32%

Variable

$1150

3.50%

$10 monthly
Bank of us
More details

3.09%

Fixed - 3 years

$0

3.60%

$10 monthly
Bank of us
More details

3.09%

Fixed - 2 years

$0

3.65%

$10 monthly
Bank of us
More details

3.45%

Variable

$1150

3.65%

$10 monthly
Bank of us
More details

2.99%

Fixed - 1 year

$0

3.69%

$10 monthly
Bank of us
More details

3.63%

Variable

$1150

3.69%

$0
Bank of us
More details

3.69%

Variable

$0

3.75%

$10 monthly
Bank of us
More details

3.93%

Variable

$1150

3.97%

$0
Bank of us
More details

3.99%

Variable

$1150

4.05%

$0
Bank of us
More details

4.13%

Variable

$1150

4.19%

$0
Bank of us
More details

4.33%

Variable

$1150

4.41%

$0
Bank of us
More details

2.99%

Fixed - 3 years

$1150

4.67%

$10 monthly
Bank of us
More details

2.99%

Fixed - 3 years

$1150

4.69%

$10 monthly
Bank of us
More details

4.61%

Variable

$650

4.78%

$10 monthly
Bank of us
More details

2.99%

Fixed - 2 years

$1150

4.83%

$10 monthly
Bank of us
More details

2.99%

Fixed - 2 years

$1150

4.85%

$10 monthly
Bank of us
More details

2.99%

Fixed - 1 year

$1150

5.02%

$10 monthly
Bank of us
More details

2.99%

Fixed - 1 year

$1150

5.04%

$10 monthly
Bank of us
More details

4.38%

Fixed - 3 years

$1150

5.07%

$10 monthly
Bank of us
More details

4.38%

Fixed - 2 years

$1150

5.13%

$10 monthly
Bank of us
More details

4.38%

Fixed - 1 year

$1150

5.19%

$10 monthly
Bank of us
More details

5.06%

Variable

$1150

5.22%

$10 monthly
Bank of us
More details

5.06%

Variable

$650

5.22%

$10 monthly
Bank of us
More details

5.06%

Variable

$1150

5.24%

$10 monthly
Bank of us
More details

5.06%

Variable

$1150

5.26%

$10 monthly
Bank of us
More details

Bank of us customer service

Bank of us is a local bank and as such face-to-face banking is only available in a select number of branches in Tasmania. The customer service centre can handle all manner of enquiries if customers would prefer to speak to someone. Alternatively, they can email Bank of us. Bank of us home loan customers can access their accounts online 24-hours a day via online banking and the company’s mobile banking app.

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

How to Apply

To apply for a home loan from Bank of us customers can enquire within a Tasmanian branch or get in touch with the customer service centre by phone. To simplify the process for customers Bank of us offers a call back service, or alternatively customers can apply online 24-hours a day. Before applying for any loan product customers should carefully calculate how much they can afford to borrow based on their earnings and expenses.  In addition to completing an application form Bank of us will require customers to supply a series of documents including:

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

Learn more about Bank of us

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

How does a redraw facility work?

A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.

What is appreciation or depreciation of property?

The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

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.

What is a redraw fee?

Redraw fees are charged by your lender when you want to take money you have already paid into your mortgage back out. Typically, banks will only allow you to take money out of your loan if you have a redraw facility attached to your loan, and the money you are taking out is part of any additional repayments you’ve made. The average redraw fee is around $19 however there are plenty of lenders who include a number of fee-free redraws a year. Tip: Negative-gearers beware – any money redrawn is often treated as new borrowing for tax purposes, so there may be limits on how you can use it if you want to maximise your tax deduction.

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

What is the average annual percentage rate?

Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

Mortgage Calculator, Loan Term

How long you wish to take to pay off your loan. 

Mortgage Calculator, Deposit

The proportion you have already saved to go towards your home. 

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

Mortgage Calculator, Loan Amount

How much you intend to borrow. 

What factors does Real Time Ratings consider?

Real Time RatingsTM uses a range of information to provide personalised results:

  • Your loan amount
  • Your borrowing status (whether you are an owner-occupier or an investor)
  • Your loan-to-value ratio (LVR)
  • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
  • Product information (such as a loan’s interest rate, fees and LVR requirements)
  • Market changes (such as when new loans come on to the market)

What do mortgage brokers do?

Mortgage brokers are finance professionals who help borrowers organise home loans with lenders. As such, they act as middlemen between borrowers and lenders.

While bank staff recommend home loan products only from their own employer, brokers are independent, so they can recommend products from a range of institutions.

Brokers need to be accredited with a particular lender to be able to work with that lender. A typical broker will be accredited with anywhere from 10 to 30 lenders – the big four banks, as well as a range of smaller banks, credit unions and non-bank lenders.

As a general rule, brokers don’t charge consumers for their services; instead, they receive commissions from lenders whenever they place a borrower with that institution.

What is bridging finance?

A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

Usually, these loans have higher interest rates and a shorter repayment duration.