Bank Australia Home Loans

Bank Australia - Outstanding Value Award Winner

Bank Australia is a provider of home loans, personal loans, credit cards, bank accounts, investment products, home and contents insurance, car insurance, life insurance, health insurance, and travel insurance.

“Responsible banking.” (Bank Australia)

Compare Bank Australia’s home loans and rates

The following table displays a snapshot of Bank Australia’s home loan products on Canstar’s database, sorted by Star Rating (highest to lowest). The results and Star Ratings displayed are based on a variable principal & interest loan in Queensland worth $350,000.

To compare other home loans, please click here.

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Basic Home Loan (Variable home loan) features

Bank Australia’s Basic Home Loan product offers the following features:

In addition to these features, an offset account is available on the Premium Variable home loan. To view details or compare other home loans, visit our comparison pages:

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What types of home loans does Bank Australia offer?

At the time of writing, Bank Australia offers the following types of home loans:

Find out about how different types of home loans work here.

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You can apply for a Bank Australia loan online by clicking on the Bank Australia home loan product of your choice in the Canstar home loan comparison tables and hitting ‘enquire’ on Bank Australia’s site.

This isn’t the full application, but will help facilitate a more thorough conversation with Bank Australia at a later date.

You need to meet the following requirements to apply for a Bank Australia home loan:

  • You must be over 18
  • You must be an Australian citizen or resident
  • You must not have been a declared bankrupt in the past seven years

Once you actually begin the home loan application process, there are many more documents that you’ll need to provide, such as proof of your income, assets and expenses.

Follow our applying for a home loan checklist, and if you’re having trouble.

Yes, Bank Australia allows extra repayments on their home loans. Terms and conditions apply; contact your lender for details.

Yes, Bank Australia offers redraw facilities on their home loans. Fees and charges may apply to use of a redraw facility, except on Bank Australia Premium Home Loans or Premium Package Loans. Contact your lender to confirm fees and charges that may apply.

Bank Australia lets you make loan repayments via their mobile banking app, Apple Pay, bank transfer, or online.

If you’re in the market for a home loan, compare your home loan options with Canstar:

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Bank Australia was founded in 1957 with just 40 members, as the CSIRO Co-operative Credit Society Ltd. Within their first year, they granted three loans totalling $525.

Formerly known as bankmecu, Bank Australia is a 100% customer-owned bank and profits are reinvested in the bank. Bank Australia is committed to keeping Aussies employed rather than outsourcing, so their call centre and lending centre are both located in regional Victoria.

In 1984, it was the first credit co-operative to issue Visa credit cards in Victoria. Today, Bank Australia has nearly 130,000 people and community sector organisations banking with them.

Bank Australia offers access to over 3,000 rediATMs and 24 branches around the country, and you can also make deposits through Australia Post. They also have a mobile smartphone app available for Apple idevices and Android devices.

Bank Australia’s Board of Directors is 50% women as of 2015, which is far better than the 20% rate reported by other ASX boards in this 2015 study.

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Showing products in Canstar’s database with links to lenders’ websites. The display is sorted by the advertised interest rate (lowest to highest), then provider name (alphabetically).

Source: Canstar. Based on residential variable home loans available for a loan amount of $350,000 at 80% LVR, and available for Principal and Interest repayments. 
*Comparison rate based on loan amount of $150,000. Read the Comparison Rate Warning.

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Bank Australia Basic Home Loan - 80%

Canstar Research
Rating:
Award: Outstanding Value Home Loans

Written by: William Jolly | Last updated: May 25, 2018