Learn more about bundled home loans

Want a home loan package deal, combining a mortgage with a bank account, credit card, and more? Learn more about how bundled home loans work, as well as their risks and rewards, before comparing interest rates on the Australian mortgage market. - Data last updated on

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What is a bundled home loan?

Bundled home loans, also known as packaged loans, allow you to combine several different financial products from the same supplier.

Generally, a bundled mortgage will let you add one or more of the following to your standard variable home loan:

  • Credit cards
  • Financial planning
  • Insurance products (building and contents, car, income protection, life, total and permanent disability)
  • Mortgage offset account
  • Savings accounts
  • Share trading 

Why choose bundled home loans? 

Bundled home loans can provide a range of financial products in a single offer, which you can tailor to suit your circumstances.

This is similar to the bundle deals offered by utilities companies that let you combine your gas and electricity in to one account, or the phone, internet and entertainment packages offered by telecommunications companies. 

A packaged home loan generally offers you the convenience of having one supplier of your financial services. Plus, you may pay one fee, and enjoy advantageous discounted rates.

What are the main choices for bundled home loans? 

Not all bundled home loans are the same, so you should consider your options before choosing one.

For instance, if you’re buying a home to live in, then as an owner-occupier you may want a package that includes an affordable variable rate loan, a credit card and possibly a savings account.

If you are self-employed, you might want a credit card and a transaction account, plus a flexible low-doc home loan with an interest-only option. This can be helpful if your business income fluctuates from time to time.

If your plan is to borrow to invest in one or more properties, then you may be interested in a flexible home loan with a discounted fixed rate, plus a credit card.

What are the rewards and risks?

In the right circumstances, bundled home loans can be very convenient, and offer lower interest rates. Also, packaged home loans that offer flexible features can become very useful if your circumstances change.

However, if you know that you won’t use all the features in a bundled home loan package, it may not be right for you. For example, if you already have a good deal on a credit card, you don’t need another transaction account, or discounted insurance products won’t suit you, then you may want to re-think whether a package home loan will be worth your time and money.

It’s also important to compare the cost of any fees and charges on a home loan bundle to the value of its features and benefits, so you can be confident the bundle will be worth it for you. For example, if you wanted to borrow a relatively small sum, say $100,000, the fee for the bundle might be higher than the value of the discounts on the bundle’s features – you may want to check if a stand-alone home loan may suit you better.

The following mortgage offers are not specifically bundled home loans. We’ve shown you these home loans to help you compare what’s available in the Australian mortgage market, and make a more informed financial decision.

To get a bundled home loan offer, contact a bank or mortgage lender and ask which of their other services can be packaged with their home loans, and what fees and charges may apply.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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