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Bank Australia - Basic Home Loan 3.60%p.a. Comparison Rate (No Other Fees) - upto $1500 Cashback if Finance Via Naritas

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Bank Australia - Basic Home Loan 3.60%p.a. Comparison Rate (No Other Fees) - upto $1500 Cashback if Finance Via Naritas
Go to Deal
pyramid on 27/10/2016 - 14:02 bankaust.com.au (1100 clicks)
Last edited 27/10/2016 - 16:13 by 1 other user

After looking at 2 deals about home loans in past 24 hours, i did some google research and found that bank australia is also giving home loans for 3.59% comparison rate. They have also waived off ~$500 loan establishment charges..You can borrow upto 95% and it gives you redraw facility….

https://bankaust.com.au/personal/borrow/home-loans/

Some good reviews about this home loan

Naritas is doing upto $1500 cashback on this home loan
Here is naritas cash bank amounts based on loan size.

The Cashback Payment offer-

$0 rebate for loans under $250,000.
$500 rebate for loans $250,000-$400,000.
$1000 rebate for loans $400,000-$500,000.
$1500 rebate for loans $500,000+.

As usual, do your due diligence before committing yourself to any home loan and rates.

Disclaimer: I am not associated with this bank and i am not mortgage broker. Also i m not associated with naritas.

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closed Comments

  • hugh on 27/10/2016 - 15:25
    +24

    I hope your username is not a part of some get rich quick scheme…

    • pyramid on 27/10/2016 - 16:09

      No its not. I would not be searching for cheapest home loan if i m part of rick quick group….

    • sevendollarsfifty on 27/10/2016 - 16:17
      +8

      Anyone on OzBargain is on a get poor slow scheme.

  • dumkaze on 27/10/2016 - 15:41

    My currently interest rate is 3.64 .. don't I should change for .04% :D

    • ruskiromka on 27/10/2016 - 15:51
      +1

      Yes.

    • yoba on 27/10/2016 - 16:30
      +1

      No.

    • syl_kn on 27/10/2016 - 16:39
      +2

      No, ask your bank to match it

      • dumkaze on 27/10/2016 - 19:21

        I sent them email… will see

    • Brianqpr on 27/10/2016 - 17:14
      +1

      Costs involved with changing probably outweigh the benefit. Not worth it IMHO.

      Reduce have a 3.44% comparison rate with 100% offset. Need at least 20% equity though. They also have a cheaper one of you don't need or want the offset account.

      • uder on 27/10/2016 - 22:26
        +1

        Reduce?

        • Brianqpr on 28/10/2016 - 09:40

          Reduce Home Loans. Well rated on Canstar and one of the cheapest rates on the market if you have at least 20% equity. I'm about to start the process of refinancing with them.

    • MyLoginName on 27/10/2016 - 17:23

      Which bank is it with? Fixed or variable and does it have offset facility?
      I am on 3.99 and would be good to have some savings :)

      • dumkaze on 27/10/2016 - 19:20

        I am with IMB bank 3.64 variable rate .

  • Turbonetics on 27/10/2016 - 15:42

    When I view the Basic Home Loan, it shows:
    A maximum LVR of 80% applies

    • pyramid on 27/10/2016 - 15:54
      +1

      I went to branch and inquired about lvr, they give loan up to 90% lvr+ LMI.

  • herbo on 27/10/2016 - 15:46
    +4

    Would be worth mentioning that the $1500 cash back is only for loans $500k and above.

    • pyramid on 27/10/2016 - 16:32

      I re-read naritas details and updated post now.

  • ruskiromka on 27/10/2016 - 15:50

    Shame the Bank of Sydney offer has expired. 3.54% as well as an offset account.

    • FindMeADeal on 27/10/2016 - 15:53
      +1

      for some reason I didnt trust that offer. There was some stuff around them being a bit dodgy or something. Not sure. or I could have been a bit lazy to research properly.

  • oogabooga on 27/10/2016 - 15:51

    HSBC is 3.55%…The application fee (usually $600) is waived, however there is a valuation fee ($224) + settlement fee ($150)

    • pyramid on 27/10/2016 - 15:58
      +2

      I had a discussion them but they needed 100% stamp duty at the time of settlement. AND later you need to apply for rebate on stamp duty if you are eligible for first home stamp duty reduction.

    • HeWhoKnows on 28/10/2016 - 10:49
      +1

      Now that's a joke if i ever saw one. The Valuation cost is part of the application fee. Never charged as an extra. If they were true about no application fee then there shouldn't be a valuation fee either. What a load of cock and bull. Good reason not to trust HSBC. Im sure there must be loads more hidden fees with them. Settlement fee on the other hand is nearly always charged as a separate item as it has nothing to do with a loan application.

      • oogabooga on 28/10/2016 - 14:08

        yeah they love the talk up… the BS fee that they made up is waived too. I am still in front as Suncorp was a joke.

  • kampua on 27/10/2016 - 16:36
    +2

    Loans.com.au and reduce home loan are cheaper. Apart from HSBC.

  • MakingBacon on 27/10/2016 - 17:03

    Maybe someone here in the know could point me in the right direction.

    Bit of a read ahead

    Some background. Basically I own my home outright, I didn't get a loan to buy it and the only finance I have had is for mobile phones etc. I owned my own business and saved up to by my house ($299k), I had an dirt bike accident which left me not being able to work so I now receive a Disability Support Pension (~$320pw), my wife is now receiving a carer's payment as well as a family tax part A & B (~$450pw) for our 2 children, she has a personal loan that she is paying off with $2500 owing. We are both under 30 and have no marks on our credit history.

    Now we tried to get an equity loan for the amount of $35k for some renovations to our home, basically 10% of what the house is worth now and have been unsuccessful through 2 vendors. One (Newcastle Permanent Building Society) didn't specify why and the NAB said that they couldn't in good conscience hold my deeds for such a small loan.

    Is there some other option I can explore?

    • pyramid on 27/10/2016 - 17:08
      +1

      It would be wise to talk with mortgage broker…like Tom, Naritas,mls1989 ….

    • Storm on 27/10/2016 - 18:05

      Check out https://www.harmoney.com.au/ . P2P lending with slightly better rates than the banks for personal loans.

    • Jake D on 27/10/2016 - 19:41
      +1

      If, NAB's answer is genuine, then apply to borrow as much as they will allow you, maybe 50% or whatever. Then when the loan settles, use the funds you need and pay back the remainder.

    • LittleKatie on 27/10/2016 - 20:46
      -2

      Hold on. So you were reckless on a dirt bike and had an accident. Now you and your wife don't work, have a fully paid off house, and we're all paying our taxes so you can do renovations. Only in Australia.

      • dtc on 27/10/2016 - 20:49
        +1

        what if the renovations were, you know, to install railings or ramps? would you still get on your high horse?

      • MakingBacon on 28/10/2016 - 02:29
        +4

        Wow, thanks for that inspiring snippet of the Australian spirit.

        We worked hard and saved even harder to get to where we got to, my golden parachute only allowed enough of a buffer for a 18months.

        FYI I was riding my legally registered trail bike and struck a large rock brought down in a recent land slide in a national park. I will not discuss my injuries, my attempt to justify myself to some keyboard thumper has its limits.

        My renovations would more aptly be called preventative maintenance.

  • HADOUKEN on 27/10/2016 - 17:14

    Does anyone with CBA have experience negotiating a rate same as or close to this deal?

    • MyLoginName on 27/10/2016 - 17:26

      I would like to know that as well , CBA also has annual fee…

    • herbo on 27/10/2016 - 17:32
      +1

      I recently threatened to leave BankWest (owned by CBA) unless they gave me a better rate. All they did was crap on about different products that might suit me better. I suspect that unless they receive some sort of paperwork to say you're leaving they're reluctant to negotiate. I'm sure they get stacks of calls every day with people trying to bluff them into a better rate and I'm sure most of them aren't really serious. I'm going to start the shift and then see if my existing bank gets back to me with something better. If not they're out.

      • BlueMM on 27/10/2016 - 19:35

        I'm planning on doing the same, that's disappointing to hear. Was thinking of jumping to Ubank.

        • herbo on 27/10/2016 - 20:38

          I've made enquiries with UBank also. However now this offer has come up I'm likely going to look seriously into it. Bank Australia have a branch in town here so I think that's an advantage over UBank, plus the BA rate is slightly better.

          BankWest actually started to talk to me about another product that did have a lower interest rate than what I am on, but when I asked them the comparison rate that indicated I would have been worse off!

    • rk1314 on 27/10/2016 - 18:21
      +1

      refer to my reply below for further info. To put shortly, depends on what type of customer you are to them (as harsh as that sounds).

  • florachan on 27/10/2016 - 17:57

    Does the basic home loan have offset account ?

    • pyramid on 27/10/2016 - 18:12

      No it does not. It comes with redraw facility.

  • rk1314 on 27/10/2016 - 18:20
    +5

    I used to work for NAB and CBA as a lending manager and have also had a background as a mortgage broker. For those of you who are wondering if big4's will match smaller banks, the short answer is generally NO for most people. The only time (out of my experience working in NAB/CBA) when they are willing to do it is when the client has a good track record within their institution (translation: have a lot of products/equity held there) and are financially very strong. Even then, you would often need authorisation from one or two levels up for huge discounts so it's not a guarantee. Another factor is if it's owner occupied, it's generally easier to get discounts compared to investment properties. If anyone want more info, PM me.

    • ShortyX on 27/10/2016 - 21:00

      Thanks, are you still in lending?

      • rk1314 on 28/10/2016 - 18:26

        Yes, but I've gone back to mortgage brokering as I felt the big banks became too restricting in these market conditions.

    • Tiggrrrrr on 27/10/2016 - 21:12

      Is HSBC classified as a small bank?

      • rk1314 on 28/10/2016 - 18:25

        Internationally no. Locally, they aren't considered a big player (yet).

    • F1Maniac on 27/10/2016 - 22:22

      wat would be a good discount rate on a SVR for 500k loan? me and my partner have our salary, business transaction, creditcard and share trading over at CBA.

      • rk1314 on 28/10/2016 - 18:28

        I need a little more info so if you want I'll pm you my email and number and we can talk further from there.

  • cucumber on 27/10/2016 - 20:07

    self-employed possible?

  • ABA on 27/10/2016 - 20:26

    Have been with them since they were MECU, very happy. Will be in the market soon for another home loan and will consider them again.

  • 10101010101 on 27/10/2016 - 21:27

    Borrow at 3.6% and invest in Citibank Term Deposit at 4.00% and profit 0.4%! https://www.citibank.com.au/goodterms/?intcid=BN-Productpage…

    • uder on 27/10/2016 - 22:30

      Tax.

    • justtoreply on 28/10/2016 - 00:34

      It's not 4%. Read closer.

      It's 4% on $125k and then you need to buy another $125k of investments.

  • haru on 27/10/2016 - 22:01
    -2

    You might be better off getting this through a broker that passes on trailing commissions to you, like Unbiased Mortgage Brokers. For a $450k loan you get back ~$5k by year 3, up to $14.5k by year 10, etc.

    • pyramid on 27/10/2016 - 22:21

      Care to share more details like lender, rates etc?

      • haru on 27/10/2016 - 22:25

        Sorry I don't understand your question.

        There's a big thread on whirlpool about them.

        • pyramid on 27/10/2016 - 22:28
          +1

          That big thread is 2 yrs old. Any recent experience with them?

        • haru on 27/10/2016 - 23:22
          -2

          I'm planning to check them out when I get a home loan next year. The fee they charge comes out of the lender's commission so you don't actually pay anything to them directly. They also have a money back guarantee. In short, you can't lose.

        • haru on 27/10/2016 - 23:38
          -2

          Here's someone who went with flongle, which is the no-frill version.

        • djkelly69 on 02/11/2016 - 08:48

          Would whoever did all of the down-voting care to share why? Seems like a reasonable proposal?

  • Frozensage on 28/10/2016 - 08:34

    Regard to Naritas.I called them last they had this cashback deal. Left number and email. Never got a call back or anything. Only bunch of spam in my email. Spoke to my AnZ and got 3.8%. Good enough for me.

    • naritas on 28/10/2016 - 09:04

      Hi Frozensage,
      If you care to drop us a PM we'd be happy to investigate how wires got crossed. We sincerely appreciate all enquiries & earnestly want to assist if you'd care to message us.
      Cheers,
      Jodie
      Customer Service Team
      Naritas Finance

  • herbo on 28/10/2016 - 09:50

    $25 per redraw fee, bit of a downer.

    • naritas on 28/10/2016 - 10:02
      +1

      Hi Herbo, redraw fees for broker introduced loans are free when done online.
      Hope this helps :)

      • herbo on 28/10/2016 - 10:51

        Are they unlimited and is there a minimum amount?

        • naritas on 28/10/2016 - 12:00
          +1

          Are they unlimited and is there a minimum amount?

          Thanks for the great questions, Herbo.

          Unlimited: Yes.
          Minimum amount: $500
          Details available here (the linked PDF is direct from Bank Australia).
          NB: The application fee that used to be payable has been waived for this promo ;)

          Hope this helps :)

    • HeWhoKnows on 28/10/2016 - 10:53

      Not really. Thats very reasonable as you are basically borrowing the money back again! Try taking out another loan and see what you go through - and the costs!

      • herbo on 28/10/2016 - 11:05

        Yes it is when compared with the UBank home loan and I'm weighing up between the two. UBank has unlimited and fee free redraws.

        • f4te on 28/10/2016 - 12:03
          +1

          Be aware that UBank's redraws takes a day to come through - so if you redraw after 10am today, you won't have access to that money until tomorrow. I'd imagine Bank Australia's would be instant though as I'm guessing it goes straight to their linked transaction account?

  • tajid on 28/10/2016 - 10:48

    What's the process for referral? Anyone would like me to use them as referral? I think $250 for both of us.

    • pyramid on 28/10/2016 - 14:28

      referral with Bank Australia or Naritas?

  • webtherapist on 22/11/2016 - 12:08

    my young nephew and his partner ask me a question that I don't know how to answer for best, they currently have around 40k saving, they asked if it is better to get a piece of land that costs around 150K first then apply for another loan latter for building?

  • benstella on 06/12/2016 - 16:32

    I'm looking to refinance my home loan through Naritas. Any one care to share their Referrer code?

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