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

Here’s a snapshot of Bank Australia’s home loans currently on offer for a purchase value of $600,000 in NSW, with links direct to the providers website. Please note that this table is formulated based on paying both principal and interest whilst being sorted by comparison rate (lowest to highest). To compare other home loans, please click here.

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Loan Options: What Bank Australia home loans offer

The inclusions below represent a selection of the features available with a standard Variable Rate home loan of $350,000 for an owner-occupier. Additional conditions may apply to different features. Please ensure that you read the product disclosure statement to determine all the current loan terms and conditions for the product you are considering.

CANSTAR is an information provider and in giving you product information CANSTAR is not making any suggestion or recommendation about a particular product. If you decided to apply for a home loan, you will deal directly with a financial institution, and not with CANSTAR. Rates and product information should be confirmed with the relevant financial institution. For more information, read our detailed disclosure, important notes and additional information.

Basic Home Loan (Variable home loan) features

  • Redraw facility available.
  • Split loan option available.
  • Repayments may be made weekly, fortnightly, or monthly.
  • Lump sum repayments and additional repayments are available.
  • Top up facility available.
  • Offset account available on 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:

  • Variable rate home loan
  • Fixed rate home loan
  • Split home loan (part variable rate, part fixed rate home loan – find out more about split home loans here)
  • Line of credit home loan
  • Bridging home loan
  • Packaged home loan
  • Investment home loan

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

See our comparison tables for details of Bank Australia home loans:

Compare Home Loans

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. Follow our applying for a home loan checklist, and if you’re having trouble, you can phone Bank Australia on 132 888 (open Mon-Fri), or visit a branch in-store.

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.

How Bank Australia supports the community

  • Helping disadvantaged kids: Bank Australia sponsors State Schools’ Relief, an organisation which began providing free uniforms to students who had stopped coming to school during the Great Depression because they couldn’t afford to buy uniforms. In 2015, State Schools’ Relief provided uniforms for 20,500 kids so they didn’t have to worry about getting into trouble about little things like socks or hats. Last year, the SSR expanded to providing senior high students with maths calculators so they could study Maths B, Maths C, or the Sciences, which are required if you want to study health or science at university.
  • Bank Australia Impact Fund: The Bank Australia Impact Fund invests 4% of the bank’s profits in projects that contribute to improving Australia’s environmental, societal, or economic needs. Any Bank Australia customers with a great project idea can apply for the annual Small Investments Round.
  • Bridging the gap for Indigenous students: In 2011, as part of their Reconciliation Action Plan, Bank Australia began sponsoring the CSIRO Science Pathways for Indigenous Communities program in schools, so indigenous kids can reach their full scientific potential.

How Bank Australia protects the environment

  • Carbon neutral: Bank Australia has been carbon neutral since 2013. They have been offsetting the carbon emissions on cars they financed through personal loans since 2004.
  • Bank Australia Conservation Reserve: In a world first for a financial institution, in 2008 Bank Australia began buying five properties to become private nature reserves, where they work with conservationists and local community groups to offset the impact of their products on the environment. In Victoria, their first Reserve is home to many endangered species including the South-Eastern Red-Tailed Black Cockatoo in this video. You can meet the other people and animals behind the Conservation Reserves on Bank Australia’s YouTube channel.
  • Biodiversity: Bank Australia has offered biodiversity offsets for new home construction loans since 2008.

Compare Home Loans

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.

 Compare Other Home Loans

Bank Australia Basic Home Loan -00 (LVR <80%)

CANSTAR Research
Rating:
Award: Outstanding Value Home Loans

2016 Home Loans - Construction Variable

Basic Home Loan -00 (LVR <80%)

View the 2017 Home Loans Star Ratings Report

Written by: TJ Ryan | Last updated: May 16, 2017