Defence Bank home loan repayment calculator

Thinking about taking out a home loan with Defence Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Defence Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 2.85 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Offers discounts on the interest rate.
  • Suitable for low deposits.
  • Opportunity to package financial products.
  • Pre-approval available for home loans.
  • Some products include high upfront fees.
  • Not all products offer offset facilities.

Defence Bank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.85%

Variable

$0

2.85%

$0
Defence Bank
More details

3.15%

Variable

$0

3.15%

$0
Defence Bank
More details

3.09%

Fixed - 5 years

$900

3.63%

$8 monthly
Defence Bank
More details

2.79%

Fixed - 3 years

$900

3.64%

$8 monthly
Defence Bank
More details

3.09%

Fixed - 4 years

$900

3.67%

$8 monthly
Defence Bank
More details

2.79%

Fixed - 2 years

$900

3.71%

$8 monthly
Defence Bank
More details

3.72%

Variable

$900

3.72%

$8 monthly
Defence Bank
More details

2.79%

Fixed - 1 year

$900

3.79%

$8 monthly
Defence Bank
More details

3.49%

Fixed - 5 years

$900

3.79%

$8 monthly
Defence Bank
More details

3.49%

Fixed - 5 years

$900

3.79%

$8 monthly
Defence Bank
More details

3.49%

Fixed - 4 years

$900

3.80%

$8 monthly
Defence Bank
More details

3.49%

Fixed - 4 years

$900

3.80%

$8 monthly
Defence Bank
More details

2.99%

Fixed - 5 years

$0

3.81%

$380 annually
Defence Bank
More details

2.69%

Fixed - 3 years

$0

3.84%

$380 annually
Defence Bank
More details

3.59%

Fixed - 3 years

$900

3.84%

$8 monthly
Defence Bank
More details

3.59%

Fixed - 3 years

$900

3.85%

$8 monthly
Defence Bank
More details

2.99%

Fixed - 4 years

$0

3.86%

$380 annually
Defence Bank
More details

3.59%

Fixed - 2 years

$900

3.86%

$8 monthly
Defence Bank
More details

3.59%

Fixed - 2 years

$900

3.86%

$8 monthly
Defence Bank
More details

3.59%

Fixed - 1 year

$900

3.87%

$8 monthly
Defence Bank
More details

3.59%

Fixed - 1 year

$900

3.87%

$8 monthly
Defence Bank
More details

3.72%

Variable

$900

3.88%

$8 monthly
Defence Bank
More details

2.69%

Fixed - 2 years

$0

3.92%

$380 annually
Defence Bank
More details

3.39%

Fixed - 5 years

$0

3.97%

$380 annually
Defence Bank
More details

3.39%

Fixed - 5 years

$0

3.98%

$380 annually
Defence Bank
More details

3.39%

Fixed - 4 years

$0

3.99%

$380 annually
Defence Bank
More details

2.69%

Fixed - 1 year

$0

4.00%

$380 annually
Defence Bank
More details

3.39%

Fixed - 4 years

$0

4.00%

$380 annually
Defence Bank
More details

3.49%

Fixed - 3 years

$0

4.04%

$380 annually
Defence Bank
More details

3.49%

Fixed - 3 years

$0

4.05%

$380 annually
Defence Bank
More details

3.67%

Variable

$0

4.05%

$380 annually
Defence Bank
More details

3.67%

Variable

$0

4.05%

$380 annually
Defence Bank
More details

3.49%

Fixed - 2 years

$0

4.06%

$380 annually
Defence Bank
More details

3.49%

Fixed - 2 years

$0

4.07%

$380 annually
Defence Bank
More details

3.49%

Fixed - 1 year

$0

4.08%

$380 annually
Defence Bank
More details

3.49%

Fixed - 1 year

$0

4.09%

$380 annually
Defence Bank
More details

3.93%

Variable

$900

4.09%

$8 monthly
Defence Bank
More details

3.93%

Variable

$0

4.32%

$380 annually
Defence Bank
More details

4.77%

Variable

$900

4.83%

$0
Defence Bank
More details

4.62%

Variable

$0

5.00%

$380 annually
Defence Bank
More details

Defence Bank customer service

Defence Bank home loan customers can get in touch in a number of ways. By calling the customer service centre it’s possible to speak to a member of staff on the phone, or alternatively customers can visit one of its 40-plus branches primarily located on defence bases across Australia. Wherever customers are located cash can be withdrawn through one of Australia’s largest ATM networks and enquiries can be made via email or through the bank’s website. Defence Bank mobile and online banking services are available 24/7.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Branch

How to Apply

To get in touch with Defence Bank regarding their home loan customers can call the customer service centre and arrange to speak to a home loan consultant. Customers can also make enquiries online and complete Defence Bank’s obligation-free pre-approval process. Home loan applications can be made both online and face-to-face in a branch. Before settling on a home loan it’s important for customers to calculate how much they can comfortably borrow at various terms and interest rates. To support any Defence Bank home loan application the following documentation may be required:

  • Personal identification material.
  • Proof of income and tax file number.
  • Proof of additional earnings.
  • Information regarding current debts, liabilities and assets.
  • Documentation on the new property.

Learn more about Defence Bank

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

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.

What is bridging finance?

A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

Usually, these loans have higher interest rates and a shorter repayment duration.

What is appraised value?

An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

Mortgage Calculator, Loan Term

How long you wish to take to pay off your loan. 

What does going guarantor' mean?

Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.

Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.

Mortgage Calculator, Repayment Frequency

How often you wish to pay back your lender. 

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

Savings over

Select a number of years to see how much money you can save with different home loans over time.

e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

What is the average annual percentage rate?

Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

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.