Bank of us Home Loans

Bank of us is a Tasmanian customer-owned bank and provider of a variety of financial products for personal and business banking purposes, including transaction accounts, saving accounts, home and personal loans, business loans and insurance.

What home loans does Bank of us offer?

At the time of writing, Bank of us offers the following home loan products:

FlexiDiscount home loan

A Bank of us FlexiDiscount home loan has the option of a variable interest rate or fixed rates from one to three years. A FlexiDiscount home loan does not offer a mortgage offset account option.

Topline home loan

This is a flexible home loan product with a variable interest rate which allows you to use an offset account, make additional repayments and redraw funds.

FlexiLine home loan

A Flexiline home loan allows you to access the equity that you’ve acquired in your home for a variety of purposes, such as renovating or investing, up to an agreed limit. This loan product also charges a $10 monthly service fee.

FlexiDiscount First Home Loan Deposit Scheme

Bank of us participates in the Australian Government’s First Home Loan Deposit Scheme which supports eligible first home buyers by allowing them to purchase a home with a low deposit. Bank of us may loan up to 95% of the property value for those who are eligible for the scheme.

Canstar does not currently compare Bank of us home loans, but you can compare other home loans providers on Canstar’s database:

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Bank of us home loan features

Depending on the product you choose, a Bank of us home loan may include the following features:

  • No application fees
  • Choice of a variable or fixed interest rate
  • Minimum loan amount of $20,000
  • Additional repayments allowed, including on fixed loans
  • One month off repayments available each year
  • Flexible repayment options, such as weekly or fortnightly payments
  • Offset accounts or redraw options available

The inclusions above represent a selection of the features available with Bank of us home loans. Canstar is not making any suggestion or recommendation to you about this product. Additional terms and conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Check upfront with Bank of us and please ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering and whether it meets your needs, before committing to it.

Bank of us home loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers before choosing a product that suits your needs (please note that Canstar does not currently compare Bank of us home loan products).

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If you decide to apply for a Bank of us home loan, you can complete an application or make an enquiry through its website. Bank of us says that an application takes about five to ten minutes and it recommends having the contact details of your current employer and any details of your current financial commitments handy.

At the time of writing, Bank of us allows extra repayments on its FlexiDiscount and TopLine home loans. Terms and conditions may apply. Contact Bank of us for details.

To give you an idea of how making extra repayments could save money in interest over the life of your loan, you might like to try our Extra Repayments Calculator.

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The Bank of us FlexiDiscount and Topline home loans offer a redraw facility. Fees and charges may apply. Contact Bank of us for details.

→ Related: Home loan redraw facilities: pros and cons

Bank of us was established in 1870 as a co-operative venture to provide housing finance, named the Launceston Equitable Building and Investment Society. It became Bank of us in 2017.

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Written by: Eliza Parry-Okeden | Last updated: September 23, 2020