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 mortgage repayments

at interest rate 2.19%

Total interest payable

$0

Total loan repayments

$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

Advertised Rate

2.19

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

2.51

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.19

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

2.54

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.19

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

2.58

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.61

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

2.70

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

2.74

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

2.78

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.79

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

2.83

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.06

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.99

% p.a

Fixed - 1 year

Total estimated upfront fees
$0
Comparison Rate*

3.15

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Fixed - 2 years

Total estimated upfront fees
$0
Comparison Rate*

3.16

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.10

% p.a

Variable

Total estimated upfront fees
$0
Comparison Rate*

3.16

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Fixed - 3 years

Total estimated upfront fees
$0
Comparison Rate*

3.18

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.19

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.21

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.33

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.43

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.47

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.32

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.50

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.45

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.65

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.63

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.69

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.93

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

3.97

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

3.99

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

4.05

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.13

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

4.19

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

4.33

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

4.41

% p.a

Ongoing fee
$0
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 3 years

Total estimated upfront fees
$1150
Comparison Rate*

4.59

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.99

% p.a

Fixed - 3 years

Total estimated upfront fees
$1150
Comparison Rate*

4.69

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 2 years

Total estimated upfront fees
$1150
Comparison Rate*

4.78

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

4.61

% p.a

Variable

Total estimated upfront fees
$650
Comparison Rate*

4.78

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.99

% p.a

Fixed - 2 years

Total estimated upfront fees
$1150
Comparison Rate*

4.85

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 1 year

Total estimated upfront fees
$1150
Comparison Rate*

4.99

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.99

% p.a

Fixed - 1 year

Total estimated upfront fees
$1150
Comparison Rate*

5.04

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

4.38

% p.a

Fixed - 3 years

Total estimated upfront fees
$1150
Comparison Rate*

5.07

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

4.38

% p.a

Fixed - 2 years

Total estimated upfront fees
$1150
Comparison Rate*

5.13

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

4.38

% p.a

Fixed - 1 year

Total estimated upfront fees
$1150
Comparison Rate*

5.19

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

5.06

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

5.22

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

5.06

% p.a

Variable

Total estimated upfront fees
$650
Comparison Rate*

5.22

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

5.06

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

5.24

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

5.06

% p.a

Variable

Total estimated upfront fees
$1150
Comparison Rate*

5.26

% p.a

Ongoing fee
$10 monthly
Go to site
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 home loans

What are the features of home loans for expats from Westpac?

If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

What do people do with a Macquarie Bank reverse?

There are a number of ways people use a Macquarie Bank reverse mortgage. Below are some reasons borrowers tend to release their home’s equity via a reverse mortgage:

  • To top up superannuation or pension income to pay for monthly bills;
  • To consolidate and repay high-interest debt like credit cards or personal loans;
  • To fund renovations, repairs or upgrades to their home
  • To help your children or grandkids through financial difficulties. 

While there are no limitations on how you can use a Macquarie reverse mortgage loan, a reverse mortgage is not right for all borrowers. Reverse mortgages compound the interest, which means you end up paying interest on your interest. They can also affect your entitlement to things like the pension It’s important to think carefully, read up and speak with your family before you apply for a reverse mortgage.

Why does Westpac charge an early termination fee for home loans?

The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

When does Commonwealth Bank charge an early exit fee?

When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

  • If you switch your loan from fixed interest to variable rate
  • When you apply for a top-up home loan
  • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
  • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

When do mortgage payments start after settlement?

Generally speaking, your first mortgage payment falls due one month after the settlement date. However, this may vary based on your mortgage terms. You can check the exact date by contacting your lender.

Usually your settlement agent will meet the seller’s representatives to exchange documents at an agreed place and time. The balance purchase price is paid to the seller. The lender will register a mortgage against your title and give you the funds to purchase the new home.

Once the settlement process is complete, the lender allows you to draw down the loan. The loan amount is debited from your loan account. As soon as the settlement paperwork is sorted, you can collect the keys to your new home and work your way through the moving-in checklist.

How do I find out my current interest rate and how much is owing on my loan?

Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

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.

How can I apply for a first home buyers loan with Commonwealth Bank?

Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

How to apply for a pre-approval home loan from Bendigo Bank?

Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork. 

Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home. 

With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances. 

To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.

What are the benefits of getting a pre-approved home loan from Citibank?

While hunting for your dream home, getting a Citibank home loan pre-approval can have multiple benefits, which include:

  • You'll have an idea on your personal price range, which can save time to find your home.
  • With a pre-approved home loan, you may find yourself with more financial control to better decide how much you can spend.
  • A Citibank pre-approved home loan is a commitment  by a lender that signals you're ready to jump into the property market.

You can apply for pre-approval by providing basic details, such as name, email, and phone number on the bank’s website. Alternatively, you can contact the bank on 1300 361 922 or find a home lending officer on the website.

Cash or mortgage – which is more suitable to buy an investment property?

Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

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.

What is break fee?

Break fees are charged when a customer terminates a fixed-rate mortgage. The amount is determined at the time you decide to break the loan and is based on how much your bank stands to lose by you breaking the contract. As a general rule, the more the variable rate has dropped, the higher the fee will be.

What is the amortisation period?

Popularly known as the loan term, the amortisation period is the time over which the borrower must pay back both the loan’s principal and interest. It is usually determined during the application approval process.

What is a honeymoon rate and honeymoon period?

Also known as the ‘introductory rate’ or ‘bait rate’, a honeymoon rate is a special low interest rate applied to loans for an initial period to attract more borrowers. The honeymoon period when this lower rate applies usually varies from six months to one year. The rate can be fixed, capped or variable for the first 12 months of the loan. At the end of the term, the loan reverts to the standard variable rate.