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Beyond Bank
Beyond Bank Australia is a bank that is owned by its customers rather than shareholders. The bank has over 200,000 customers, over 40 bank branches and over 3,000 ATMs Australia-wide. Beyond Bank Australia has headquarters in South Australia, the Australian Capital Territory, Western Australia and New South Wales.
Beyond Bank Australia provides a variety of home loan products with interest rates that tend to range between moderately low and moderately high.
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Beyond Bank home loan repayment calculator
Your estimated mortgage repayments
at interest rate 2.49%
Total interest payable
$0
Total loan repayments
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Pros and cons
- Flexible home loan products.
- Multiple points of contact.
- Low deposit requirements.
- Moderate to high fees for some features.
Beyond Bank home loans rates
Product | Advertised Rate 2.49 % p.a Variable | Total estimated upfront fees $445 | Comparison Rate* 2.52 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.79 % p.a Variable | Total estimated upfront fees $445 | Comparison Rate* 2.82 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.90 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.32 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.99 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.41 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.20 % p.a Variable | Total estimated upfront fees $200 | Comparison Rate* 3.61 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.69 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.67 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.69 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 3.74 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.33 % p.a Variable | Total estimated upfront fees $200 | Comparison Rate* 3.74 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.09 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.78 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.59 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.78 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.69 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.81 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.59 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.86 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.69 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 3.88 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 3.53 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 3.93 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.39 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 3.94 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.59 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.95 % p.a | Ongoing fee $395 annually | Go to site | More details |
Advertised Rate 2.69 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 3.96 % p.a | Ongoing fee $395 annually | Go to site | More details | |
Product | Advertised Rate 2.99 % p.a Fixed - 5 years | Total estimated upfront fees $0 | Comparison Rate* 3.96 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.14 % p.a Fixed - 5 years | Total estimated upfront fees $645 | Comparison Rate* 3.96 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.99 % p.a Fixed - 4 years | Total estimated upfront fees $0 | Comparison Rate* 4.02 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.14 % p.a Fixed - 4 years | Total estimated upfront fees $645 | Comparison Rate* 4.05 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.65 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.05 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.39 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.06 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.04 % p.a Fixed - 3 years | Total estimated upfront fees $645 | Comparison Rate* 4.12 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.79 % p.a Fixed - 2 years | Total estimated upfront fees $0 | Comparison Rate* 4.13 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.80 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.21 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.79 % p.a Fixed - 3 years | Total estimated upfront fees $0 | Comparison Rate* 4.22 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 2.79 % p.a Fixed - 1 year | Total estimated upfront fees $0 | Comparison Rate* 4.22 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.04 % p.a Fixed - 2 years | Total estimated upfront fees $645 | Comparison Rate* 4.24 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.29 % p.a Fixed - 5 years | Total estimated upfront fees $200 | Comparison Rate* 4.25 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.44 % p.a Fixed - 5 years | Total estimated upfront fees $645 | Comparison Rate* 4.25 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.89 % p.a Fixed - 3 years | Total estimated upfront fees $200 | Comparison Rate* 4.28 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.29 % p.a Fixed - 4 years | Total estimated upfront fees $200 | Comparison Rate* 4.31 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.09 % p.a Fixed - 3 years | Total estimated upfront fees $200 | Comparison Rate* 4.33 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.94 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.33 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.44 % p.a Fixed - 4 years | Total estimated upfront fees $645 | Comparison Rate* 4.34 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.04 % p.a Fixed - 1 year | Total estimated upfront fees $645 | Comparison Rate* 4.36 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 2.89 % p.a Fixed - 2 years | Total estimated upfront fees $200 | Comparison Rate* 4.38 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 3 years | Total estimated upfront fees $645 | Comparison Rate* 4.39 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 3 years | Total estimated upfront fees $645 | Comparison Rate* 4.39 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.09 % p.a Fixed - 2 years | Total estimated upfront fees $200 | Comparison Rate* 4.42 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 4.45 % p.a Variable | Total estimated upfront fees $645 | Comparison Rate* 4.49 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 4.09 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.50 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 2 years | Total estimated upfront fees $645 | Comparison Rate* 4.51 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 2 years | Total estimated upfront fees $645 | Comparison Rate* 4.51 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.09 % p.a Fixed - 1 year | Total estimated upfront fees $200 | Comparison Rate* 4.52 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.74 % p.a Fixed - 5 years | Total estimated upfront fees $645 | Comparison Rate* 4.55 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 4.24 % p.a Variable | Total estimated upfront fees $0 | Comparison Rate* 4.63 % p.a | Ongoing fee $395 annually | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 1 year | Total estimated upfront fees $645 | Comparison Rate* 4.64 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.24 % p.a Fixed - 1 year | Total estimated upfront fees $645 | Comparison Rate* 4.64 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 3.74 % p.a Fixed - 4 years | Total estimated upfront fees $645 | Comparison Rate* 4.64 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 4.74 % p.a Variable | Total estimated upfront fees $645 | Comparison Rate* 4.78 % p.a | Ongoing fee $0 | Go to site | More details |
Product | Advertised Rate 4.89 % p.a Variable | Total estimated upfront fees $645 | Comparison Rate* 4.94 % p.a | Ongoing fee $0 | Go to site | More details |
Beyond Bank Australia customer service
Beyond Bank has a moderate branch network and a call centre open six days per week. It also offers online banking services 24/7, mobile banking services and live chat. Most of its branches are located in NSW and the ACT.
- Customer service centre (phone) – open 6 days a week
- Phone banking available
- Live Chat
- Online banking
- Branch
- Mobile banking staff
- Mobile apps
How to Apply
Beyond Bank customers can apply for a home loan online or seek assistance from a customer service representative by phone, email or chat. 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 will include:
- Personal identification material.
- Proof of income and other earnings.
- Proof and type of employment.
- Details of current loans, debts and liabilities.
- Personal insurance documents.
About Beyond Bank Australia home loans
Beyond Bank Australia home loans are suited to a variety of mortgage customers:
- First home buyers
- Upgraders
- Investors
- Refinancers
- Renovators
Borrowers who take out Beyond Bank Australia home loans can choose from a variety of interest rate options:
- Principal-and-interest home loans
- Interest-only home loans
- Variable interest rates
- Fixed interest rates
- Split loans
Beyond Bank Australia mortgages have maximum loan terms of 30 years. Additional repayments are allowed on some products. Depending on the Beyond Bank home loan you choose, you may also be offered offset accounts and redraw facilities.
Mortgage borrowers may also enjoy special discounts by combining a Beyond Bank Australia home loan with another Beyond Bank product, such as low-rate credit cards.
Beyond Bank Australia home loan rates tend to be in the middle of the spectrum, ranging between moderately low and moderately high. Fees vary from product to product, with some waiving establishment fees.
Beyond Bank Australia home loan rates
Beyond Bank Australia home loan rates vary from product to product, but generally tend to be middle of the market. Generally speaking, they don’t offer the lowest rates, but their rates are lower than those charged by the big banks.
As a challenger lender, Beyond Bank must find ways to stand out from Australia’s big four banks. Their need to differentiate is one reason they offer lower rates. Another reason is that the bank is owned by its customers rather than shareholders, which means it doesn’t have the same imperative to maximise profits.
Beyond Bank Australia has a range of home loan products that each come with unique interest rates. As a general rule, owner-occupiers are given lower interest rates than investors and variable loans are cheaper than fixed-rate loans. Interest rates can be fixed for up to five years; generally, the rate will go up as the term lengthens.
Beyond Bank Australia home loans review
Beyond Bank Australia is not one of Australia’s big four banks, and therefore it doesn’t provide the same range of home loan products as its larger competitors. It does, however, tend to charge lower rates than the big four banks.
Beyond Bank Australia home loan rates tend to be moderately low to moderate, with owner-occupier loans leaning toward the moderately low range. Investors who pay principal and interest on their variable home loan can typically find moderately low rates as well.
While Beyond Bank’s rates are generally on the cheaper end of the spectrum, its fees are more likely to be moderate than market-leading. Both upfront and ongoing fees typically sit within the moderate to moderately high range. These fees include one-off establishment fees, settlement fees and monthly account-keeping fees.
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.
How to use the ME Bank reverse mortgage calculator?
You can access the equity in your home to help you fund your needs during your senior years. A ME Bank reverse mortgage allows you to tap into the equity you’ve built up in your home while you continue living in your house. You can also use the funds to pay for your move to a retirement home and repay the loan when you sell the property.
Generally, if you’re 60 years old, you can borrow up to 15 per cent of the property value. If you are older than 75 years, the amount you can access increases to up to 30 per cent. You can use a reverse mortgage calculator to know how much you can borrow.
To take out a ME Bank reverse mortgage, you’ll need to provide information like your age, type of property – house or an apartment, postcode, and the estimated market value of the property. The loan to value ratio (LVR) is calculated based on your age and the property’s value.
How is interest charged on a reverse mortgage from IMB Bank?
An IMB Bank reverse mortgage allows you to borrow against your home equity. You can draw down the loan amount as a lump sum, regular income stream, line of credit or a combination. The interest can either be fixed or variable. To understand the current rates, you can check the lender’s website.
No repayments are required as long as you live in the home. If you sell it or move to a senior living facility, the loan must be repaid in full. In some cases, this can also happen after you have died. Generally, the interest rates for reverse mortgages are higher than regular mortgage loans.
The interest is added to the loan amount and it is compounded. It means you’ll pay interest on the interest you accrue. Therefore, the longer you have the loan, the higher is the interest and the amount you’ll have to repay.
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.
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.
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.
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.
What are the different types of home loan interest rates?
A home loan interest rate is used to calculate how much you’ll pay the lender, usually annually, above the amount you borrow. It’s what the lenders charge you for them lending you money and will impact the total amount you’ll pay over the life of your home loan.
Having understood what are home loan rates in general, here are the two types you usually have with a home loan:
Fixed rates
These interest rates remain constant for a specific period and are a good option if you’re a first-time buyer or if you’re looking for a fixed monthly repayment. One possible downside of a fixed rate is that it may be higher than a variable rate. Also, you don’t benefit from any lowering of interest rates in the market. On the flip side, if rates go up, your rate won’t change, possibly saving you money.
Variable rates
With variable interest rates, the lender can change them at any time. This change can be based on economic conditions or other reasons. Changes in interest rates could be beneficial if your monthly repayment decreases but can be a problem if it increases. Variable interest rates offer several other benefits often not available with fixed rate home loans like redraw and offset facilities and free extra repayments.
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.
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 happens to my home loan when interest rates rise?
If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.
When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.
There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.
Does the Home Loan Rate Promise apply to discounted interest rate offers, such as honeymoon rates?
No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Home Loan Rate Promise.
However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.
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.
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 do I apply for a home improvement loan?
When you want to renovate your home, you may need to take out a loan to cover the costs. You could apply for a home improvement loan, which is a personal loan that you use to cover the costs of your home renovations. There is no difference between applying for this type of home improvement loan and applying for a standard personal loan. It would be best to check and compare the features, fees and details of the loan before applying.
Besides taking out a home improvement loan, you could also:
- Use the equity in your house: Equity is the difference between your property’s value and the amount you still owe on your home loan. You may be able to access this equity by refinancing your home loan and then using it to finance your home improvement. Speak with your lender or a mortgage broker about accessing your equity.
- Utilise the redraw facility of your home loan: Check whether the existing home loan has a redraw facility. A redraw facility allows you to access additional funds you’ve repaid into your home loan. Some lenders offer this on variable rate home loans but not on fixed. If this option is available to you, contact your lender to discuss how to access it.
- Apply for a construction loan: A construction loan is typically used when constructing a new property but can also be used as a home renovation loan. You may find that a construction loan is a suitable option as it enables you to draw funds as your renovation project progresses. You can compare construction home loans online or speak to a mortgage broker about taking out such a loan.
- Look into government grants: Check whether there are any government grants offered when you need the funds and whether you qualify. Initiatives like the HomeBuilder Grant were offered by the Federal Government for a limited period until April 2021. They could help fund your renovations either in full or just partially.