ANZ Simplicity PLUS Loan


The ANZ Simplicity PLUS Home Loan offers a low interest rate and you don’t pay for any extra features you don't need. You can make additional repayments at any time to help you pay off your loan sooner.  Borrowers can also redraw any extra monies paid on the loan when they need without being charged extra.

So while it’s a ‘basic’ home loan, these features will allow you to reduce interest costs over the life of the loan.

There are other extras not often found on a basic home loan. Borrowers can, for example, arrange a repayment holiday of up to three months if anything unexpected crops up, like an involuntary redundancy, a long-term illness in your family or if you’re travelling. There are no additional fees for this although your repayment amount will be adjusted to ensure your loan is still paid out on time.

The minimum borrowing amount is $50,000. New customers need a 10 per cent deposit or equity equivalent while existing customers need at least five per cent. If you have a deposit of 20 per cent or more (or equity equivalent) you don’t need to pay for lenders mortgage insurance.

ANZ also offer the Simplicity PLUS Home Loan as a construction loan, allowing you to draw down progress payments if you are building or renovating your home. There are fees attached to this, however, so be mindful of incurring extra charges.

Borrowers have the option of combining their Simplicity PLUS loan with a fixed rate loan or other loan type. But you’ll need to pay a $600 fee for the first loan into which you split and $200 for each subsequent split. You can choose how much you allocate to each, depending on your circumstances. You could also opt to split your loan into two variable products, such as the ANZ Standard Variable Home Loan and ANZ Simplicity PLUS Home Loan, or even two ANZ Fixed Loans. It's up to you.

Who is the ANZ Simplicity Plus Loan good for?

The Simplicity Plus Home Loan is good for first home and established buyers who want a low cost loan which offers some flexibility to repay and structure the loan, according to their needs. The loan may be of particular interest to existing ANZ home loan customers as discounts on fees and rates may apply. ANZ’s Simplicity PLUS is not offered to investors.

Review - What RateCity says

As the name implies, ANZ’s Simplicity Plus Loan is a fairly simple loan offering a lot of flexibility. As a first home loan or a simple refinance option it may suit your needs.

One of the biggest advantages of this home loan is that there is little in the way of ongoing fees. The fee-free redraw facility is also attractive, as are the extra repayment options.

Being able to pay extra monies into your loan without penalty may help save you thousands in interest costs. The Simplicity Plus Loan does, however, come with high upfront fees so make sure you factor these into your calculations.

ANZ Simplicity PLUS Loan Options

Follow the provided link for more about the ANZ Simplicity Plus Loan.

Variable Rates from


Advertised rate


Comparison rate
  • No monthly fee.
  • Early repayments and redraws allowed.
  • Constructions loans allowed.
  • High establishment fees.
  • Not available to investors.
  • No offset facility.

Owner occupiers only. Deposit of at least five per cent (existing customers) or 10 per cent (new customers). Minimum borrowings of $50,000 or more.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $310.00 - $910.00
  • Discharge fees: $160
  • Ongoing fees: $0

High upfront fees apply on the ANZ Simplicity PLUS Home Loan, although these may be waived for new customers. Splitting your loan may also incur high additional application and approval fees. A modest discharge fee applies. There are, however, no ongoing administration fees for this loan and no fees for extra repayments, redraws, or paying out your loan early, which is good news for borrowers.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About ANZ

ANZ is one of Australia’s ‘Big Four’ banks. They have an extensive branch network both locally and overseas. They also offer mobile lenders who come to you, as well as a 24/7 website for online banking and a call centre. They have the ANZ App* suited to most mobile devices for banking on the go. This gives you a range of options should you need assistance with your loan.

*The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available at and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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