Bank Australia will waive the $595 establishment fee on its variable Basic Home Loan for another three months.
The fee waiver was due to end on 30 June 2018, but this has now been extended to 30 September.
The interest rate for the Basic Home Loan starts at 3.65 per cent (comparison rate 3.66 per cent).
There are no ongoing fees with the Basic Home Loan, although there is a $250 discharge fee.
Anyone who took out a $400,000 Basic Home Loan with a 30-year loan term would have to repay $1,830 per month and $658,742 over the life of the loan.
According to data from the end of May, the average interest rate for the variable mortgages listed on RateCity was:
- 4.62 per cent for all loans
- 4.44 per cent for owner-occupied loans
- 4.86 per cent for investment loans