Bank First Complete Loan


One of the Bank First Complete Home Loan’s most attractive features is the low variable interest rate offered to both investors and owner-occupiers. This means that over time, you will be paying interest on your loan at one of the lowest rates available on the market.

There is an option to make repayments weekly, fortnightly or monthly, depending on your income cycle, and if you need a break, you can take a repayment holiday for an approved term or a repayment pause if you leave work for maternity or paternity leave.

Conversely, if you have extra funds, you can put them towards making an unlimited number of extra repayments to help pay your loan off early without penalty.

Consistently making early repayments could potentially take years off your loan term which could help you save on interest. Another perk is the redraw facility from which you can withdraw any of the funds you’ve put forth in early repayments, but there is a minimum amount you must redraw each time.

To save even more on interest, the 100 per cent offset account that is available can help you to offset your interest through the balance you maintain in this offset deposit account, since interest is charged just on the difference between this balance and your loan balance.

The loan portability option could come in handy if you decide to move homes during your loan term because you’ll be able to take your Bank First Complete Home Loan with you. This can be great for first home buyers with a growing family needing to upgrade or for investors who want to switch which security this loan is secured against.

Who is the Bank First Complete Loan good for?

The Bank First Complete Home Loan is available to first home buyers, owner-occupiers, refinancers and investors and has been designed to bend and flex depending on your financial situation.

But, this loan might be most suitable for first home buyers with options such as family guarantee, repayment holiday and loan portability.

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The relatively low interest rate could make this loan an attractive option for refinancers and investors while the waived upfront costs for first home buyers could reduce the initial upfront costs for them.

However, regardless of what type of mortgage holder you are, it is worth calculating what the total cost of the loan will be to help you determine whether this is an affordable option for you.

Bank First Complete Loan Options

The Complete Home Loan from Bank First has options for different borrowing needs and deposit sizes. Click the corresponding links for more information about these options.

Variable Rates from


Advertised rate


Comparison rate
  • Low variable interest rates.
  • Repayment holiday.
  • Early repayments and redraws allowed.
  • Entry and exit fees.
  • Minimum redraw amount.
  • Limited branch access.

Must be a citizen or permanent resident of Australia.

Must be able to provide proof of income.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $0 - $600.00
  • Discharge fees: $350
  • Ongoing fees: $0

There is a moderately high establishment fee charged upfront when you set the Complete Home Loan up, however this fee is waived for first home purchasers which means you will have no upfront cost should this be the case. While there are no ongoing fees, you will have to pay a moderately high fee when you are discharged from your loan at its completion.

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

Bank First, formerly known as Victoria Teachers Mutual Bank, is a mutually owned bank and, as such, reinvests profits into services and products that best suit its members and the community. While there is limited branch access in Victoria, there is an accessible ATM network throughout the country as well as internet and phone banking.

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