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ANZ 2.68% Fixed 2yr Home Loan + $4000 Refinance Rebate + 0.3% Bundle Rebate


Lowest ever fixed rate for a big 4 bank!

2.68% (CPR 4.40%) fixed 2 year owner occupied P&I home loan + up to $3,500 rebate +0.3% Bundle rebate!
Update 3/3/20: big 4 banks have already passed on the full 0.25% cut incl ANZ. Note this is for variable rates only.
Update 9/3/20: ANZ increase rebate to $4000 refinance >$250k, once per 12 month period. exp 31/5/20

Available under ANZ Breakfree package, including offset account, redraw, premium credit card. Annual fee $395.
Can be split with variable 100% offset. Fixed has break costs if closed before expiry. No break costs under variable.
Suggest doing rate lock.

ANZ fixed rates

2.68% (CPR 4.40%) fixed 2 year owner occupied P&I [3.48% interest only (CPR 4.53)]
2.88% (CPR 4.91%) fixed 2 year investor P&I
2.98% interest only investor (CPR 4.92%) fixed 2 year investor IO

ANZ variable rates

3.09% (CPR 4.65%) owner occupied P&I (Approx +0.5% interest only)
3.50% (CPR 4.87%) investor P&I (approx +0.2% interest only)

PLUS ANZ bank rebate:

$4,000 loan size above $250k

PLUS 0.3% Bundle Rebate

In ADDITION to bank rebates, Bundle Home Loans gives a rebate of 0.3% of loan size (net at drawdown) for ANY bank or product, eg:

$400,000 = $1,200 Bundle cash rebate
$700,000 = $2,100 Bundle cash rebate
$1,000,000 = $3,000 Bundle cash rebate

Total Fees eg NSW & VIC incl GST


Mortgage discharge fees $143.5 (NSW), $116.80 (VIC)
Transfer/Mortgage Registration fee $143.5 (NSW), $116.80 (VIC)
Title search $14.70 (NSW)
Legal/settlement fee from incoming lender – Approx $100-$350
Discharge admin fee from outgoing lender – Approx $250-$350
Total fees approx $650 - $800 in most cases.

Why should I fix?

Given lower chance of a rate cut forecast, a low fixed rate can still save you more money as you can get an immediate benefit from today as opposed to waiting for the drop to occur. Given many banks are only passing on 0.1-0.15% each cut, and the RBA cash rate is 0.75%, there can only be a maximum of 3 cuts to zero, which may take a long time or unlikely to occur.

Always worth doing a calculation for your situation, eg:

If you have an existing loan and your rate is 3.18%, fixing at 2.68% will save you 0.5% each year.
On a $500k loan, that is a saving of $2500 every year.
If you're saving 0.5% and go with a lender giving rebates eg Westpac $6,000 for 2 properties, plus our Bundle Rebate of $1,500, that's a further $7,500 in rebates, plus $2,500 interest savings, you are getting a benefit of $10,000 in just one year!

Let me know if we can help.
We have some of the lowest rates, and can get pricing discounts up to 1.9%.
Our policy is to beat any competitor/broker/lending manager with our rates and rebates, so will do whatever it takes to get the best deal for you.

Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]
ACL 445947

The information provided is for general education purposes only and is not intended to constitute specialist or personal advice. This has been provided without taking into account your objectives, financial situation or needs. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.

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closed Comments

    • Westpac $2k purchase rebate see above.

  • -1

    Do you need to be a neurosurgeon?

    • Hi Dr Nick!

  • +1

    Can someone explain how this is better than ubank or Athena? Noob here. Don’t care about big4 as I think they will become less relevant with open banking initiative. I just want to pay the least I can and happy to refinance frequently

    Edit: loan value of 900k

    • +2

      I recently refinanced an investment loan to ubank and I can speak of my experience.

      The process took approximately two months from application to settlement, which was longer than I expected. The questions and requests for statements/bills/notices/payslips were very thorough/deep but this is probably the standard anywhere you go to. The app is a little more 'clunky' than that on CBA or Westpac in the sense the numbers are clearly there but the redraw process looks disjointed as it requires an additional login within the app itself. I am happy with the rate I got.

      I tried refinancing my PPOR to ubank recently but their valuation process required that I reduce my home loan size significantly or close all of my credit cards. Given that I was only opening a 180K facility, my income is reasonably high and I am on 3.2ish% rate already, I did not proceed. Ubank is not following up either but I think being proactive in chasing up applications would do their image a service. Overall I feel like they do a take-it-or-leave-it approach. I'm sure this is not the case with Big 4 banks.

      Hence my interest in this deal for my PPOR.

  • +1

    I'm already with ANZ. Can I still take advantage of this deal?

    • +20

      Unfortunately not, as ANZ is already taking advantage of you.

      • +2

        Bugger, well then it's time to move on, had enough of ANZ ripping me off

        • +3

          Might be worthwhile using this deal as ammo for negotiating a further rate discount if existing customer, and threatening to leave. Can’t hurt.

          • @john_conner: I feel burned a couple of times by fixed rate drops (obviously because we're in a market that is moving down). I can't wait for the property market in WA to actually start moving so I can move away from the big 4, but I think like many in WA and probably the NT as well we're locked to the bank we're with because the equity isn't there to reasonably be able to move away.

    • Also want to know. I have a (non break-free) loan and CC, would like to convert into this offer.

  • +1

    @OzzyBuy I’m awaiting an email response from you could you please get back to me?

    • +1

      Hi Steve84 we have sent you an email on the products. If not received pls DM me will forward again.

  • is it worth to change for me?
    i am with commonwealth bank
    owning 240000, 03.270%pa

    • +2

      You can save 0.69% x $240k = $1416 per year.
      Plus $2500k anz + $720 bundle rebate = $3220 rebate
      Total saving in year 1 = $4636
      Just take a $250k loan size.

      • so is that gonna have a home loan account and allow me to put more money in and pay it off earlier?
        if I want to transfer to anz what should I do?

  • I have about 110K owing on my PPOR. If I refinance to this and open a 250K facility (is this possible?), am I still eligivle for the rebate?

    • I was wondering the same thing. Is this scenario, is the loan just $110k with 140k avail in redraw?

    • Hi, i moved to ANZ break-free at the end of last year and was in the same boat as you before the move. in my case, anz happily upped my refinance amount just for the purpose of getting the bonus, with no extra cost.

      So i would say you should be able to do that, just give them a call, doesn't hurt.


      • Thanks for that. I'll give them a call to explain my situation. Cheers!

        • yes you can

        • Do I call the number in the OP or should I use the official ANZ contact?

  • +1

    Yeah I wouldn't dive into this deal. There will be better ones from other banks soon.

  • U bank offers zero yearly fees, just a one off establishment fee of $395 and fixed at 2.69% for 3 years. Surely this is a much better deal than ANZ who charge $395 each year ongoing?

    • +1

      The rebate can make up for the difference.

      I tried to refinance my existing PPOR to ubank recently but their demand that I either halve my existing facility size or close off all my credit cards made me decide not to progress. I was only refinancing <$200K. The requests/demands for rates/statements/income for every single property & job were over-excessive as well. They are not chasing up the application with me either but I wish after giving them that much documents they would try to retain me (the guy accessing my documents definitely has a clear idea of my ozbargain lifestyle and everything I own). Not saying the same won't happen with ANZ or other big banks but I do believe they have a larger team and who will try to retain potential customers better than this.

  • Damn it, one of my loans just came out of fixed rate on 19/2 with ANZ and rerated for 2 years at the higher rate. What do you reckon the chances are they'll drop it to the new rate in good faith?

    • 0 chance

      • +1


      • +1

        For anyone that is even remotely interested or was following, ANZ did in good faith match the drop in rates. I am more than happy to be an ANZ customer, cannot speak more highly of their service.

  • I have 3.14% investor home loan, variable at CBA.

    Is it worth me swapping over? I'll have an increased rate but balanced with rebate.


    • Depends on loan amount

      I worked out a 4k rebate from BOM was worth nearly 8-10 basis points (loan less than 300k)

    • Fixed ANZ is only 2.88%

    • How'd you manage a variable 3.14% investor loan with CBA?

      • mortgage broker. a damn good one!

  • -2

    Does anyone have advice for a first time home buyer? Don't know how to tell if this is good or not and everyone is using acronyms

  • +1

    FYI, I believe some of the bank's are forecasting 2x rate cuts this year, so weigh up the option of waiting vs fixing now.

    • +1

      Problem with this is how much do they pass on…

      I agree that economy is (profanity) and rates are low for a while
      but if you look at the USeven with central bank rates close to 0 home loans still averaged around 3%

  • How does the 0.3% cashback work? What does net of drawdown mean?

    • Net means loan minus offset

      • And when do we get this cashback?

        • 50/50 at 2 and 24 months after settlement. Pls refer to response above thanks.

      • Y net and not loan established?

        • Bank only makes money on charging interest on balance owing

          • +1

            @Len -Bundle Loans: So how exactly does the net of offset rebate work e.g. for the first rebate at the 2 month mark do you just not put any money in the offset then get the full 0.15% X loan amount? Then subsequently put whatever you want into the offset?

            Just trying to get clarity on the mechanics of this because people can just control how much and when they put money into the offset …

          • @Len -Bundle Loans: suppose your fees are based on loan outstanding and is not based on net?

  • which fees apply when refinancing? legal fees!’v discharge fees? and a valuation fee?

  • Noob question.
    How to justify the $395 annual fee when compared to a similar interest rate from a non bank lender which also provides an offset account without any such fees?

    Is this because its a big 4 bank?

    • It's because the bigger lenders like packaging things e.g. CC. So you pay one fee for the convenience of using all their products.

      • Pros of a big bank: Bank rebate + bundle rebate, Offset account (potentially save thousands year), premium credit card, branch access

  • Damn if this came with 300k points ill be switching now

    • the $3500 rebate should be worth more?

  • Anything stopping me changing over from CBA even though I'm selling in March? 😊

    I'm guessing you have to stay for a set time frame to qualify?

  • +3

    Thanks for sharing this.

    OO, P&I, LVR is 40%.

    Going to hit up NAB and ask for 2.63% rate match. I wont bother with the rebate from bank and broker, just give me the same rate!

    Will let u know how i will go

  • How does this stack up against athena's offering?

  • Has anyone taken through them? How has been the experience?

  • Do they come an look through the house for a valuation? What happens with the valuations if your mid renovating?

    • If your LVR is <80% then they will probably just do an automated valuation or a desktop valuation so nobody would need to physically look at the house.

  • +4

    Kudos for @OzzyBuy for going thru and actually answering everyone's questions. But you should make it clear:

    • In the main post that your Bundle rebate of 0.3% is 50% payable in 2 and 24 months respectively. Most of us at OzB are probably planning our next refinance whilst trying to sign up the current refinance deal and not receiving the full 0.3% at the outset is an important consideration.
    • what is the "net loan amount" that the 0.3% is calculated from?

    People seem to be obsessed with absolute comparisons i.e. fixed of 2.68% must be better than variable at 3.09% because it's lower. Some considerations:

    • If rates fall banks (usually but not always) cut both fixed and variable so if you're on fixed 2.68% but it falls further your relative cost of funding has now increased because you're stuck at 2.68% but new 2YR fixed being issued at lower rates. Banks take this into account when they price the fixed rates, hence more appealing rates at the 2yr mark than the 1yr mark.
    • With variable you have flexibility to leave if you don't like the bank (or appealing refi deals on OzB ;) )
    • If you have an offset with your variable and you have some savings + positive cashflow each month, your interest cost will be lower than 3.09% - how much depends on your individual circumstance
    • At the end of the day porque no los dos - split your loan between fixed and variable to capture the rate differential between the two plus any future rate decreases.
    • +1

      Also for those planning on loan hopping - please consider whether your future situation will still allow you to meet loan criteria.
      E.g. having kids, change of income etc. could all affect your ability to take advantage of the next deal.

  • I guess the Variable Rate still isn't the lowest available by big 4s. Unfortunately can't disclose too much detail but I know someone was offered 3.04% variable with annual fee waiver for life on a 800K 89% LVR OO-loan by Westpac. Saw the paperwork with my own eyes.

    • 3% variable is achievable… I guess 2.68% is really good rate, I doubt the variable from the big banks will reach that low. The question you should ask yourself is that will your circumstance change in the next 2 years.. i.e. selling your house etc…

      • 3 years ago we doubted interest rates would even go down and then here we are. I do agree that the time to lock might be here but still unsure. If there are two further rate cuts then the new fixed rate applications would be sitting somewhere around 2.4%

  • @OzzyBu: I sent email on Saturday with my details. Waiting for your response.

    • Have just DM'ed you, pls DM me your email thanks.

  • @OzzyBuy also sent you PM / text, awaiting to hear back. Thanks

    • Have just DM'ed you, pls DM me your email thanks.

  • Can people in WA apply with you or are you only handing NSW customers?

  • Hi
    I have sent an email, haven't heard anything back yet.
    can you please contact me: [email protected]

  • Is the offset definitely available on the 2 year fixed? According to the ANZ website for fixed it's 1 year loans only:

    "Save on interest payable with an ANZ One offset account (only available for one year fixed rate loans)"

    • Offset only avail on variable loans. So I would do a fix/variable split for best of both worlds.

  • I'm permanently living and working overseas now, but still have a property in Australia, can I apply and refinance my existing loan?

    • Yes as an expat, which country? they take 80% of income and sometimes max 70% LVR.

  • Has anyone who sent emails to them got their reply back yet? I've sent the first email inquiry on Saturday when the deal was posted, and followed up with another email as well as multiple SMS and phone calls since then but still haven't received any reply via email back.

    I need to refinance quickly and hoped to be able to get an application done quick and smoothly with Bundle Loans but now I'm a bit concerned that with the popularity of this deal they have been overwhelmed and could not handle all the inquiries and potential applications (not to mention they've just posted another deal with St George Bank!)

    • Hi Peteoz - Please allow 24-48 business hours to get back to you. If urgent eg. purchase or fixed expiring, please email or text with "Urgent" and we will contact you ASAP. Pls DM me your email/mobile thanks

    • Likewise with my case… emailed no reply and called mobile phone just straight to message bank hence texted to him too… smelly fishy about this bloke.

      • Same, all this broker who posted deal in ozbargain doesnt seems replying their emails, have similar experience with Nick Azure Financial. i have my own broker thought to give this people in ozbargain community a go, but seems like no service at all

        • HI Ishe, you emailed us yesterday at 5:42pm after we closed. We have replied your email. Pls allow 1-2 business days as you can appreciate we have had many enquires at once, but will reply to each.

      • Hi Thomalfa, you emailed us yesterday and we have replied your email. Pls allow 1-2 business days as you can appreciate we have had many enquires at once, but will reply to each. If urgent eg. purchase or fixed expiring, please email or text with "Urgent" and we will contact you ASAP.

  • Has the $2500 refinancing cash rebate offer from ANZ as part of the Breakfree package now expired? I can no longer find reference to it on their website…

    • +1

      Correct. No longer advertised after 31/1/2020 but it's still available to us. Can send you the confirmation email.

      • Thanks, that would be much appreciated.

      • Almost went refinancing with my broker today (with no rebate offer) and just saw this post! Will send you an email soon!

  • Has anyone had success negotiationg a split loan?

    i.e loan of 450k

    300k fixed and 150k variable with offset?

    • You can do that - split var and fixed no problem

  • Len, can you drop me a line? PMd / emailed you. Thanks v much.

  • Len dropped you a message yest, pls revert when you can.

    • Hi I have sent you DM thanks

      • I emailed and msg-ed you as well. Please reply or DM me. Also with fixed rate, we can't use offset yea? Thanks.

        • Replied. Can do a split:

          Choice of variable/fixed split amounts:
          o   Variable amount – try to keep this as low as possible (if rates are higher than fixed) being the maximum extra amount you will repay into the home loan during the fixed period eg 2 or 3 years, so you have enough headroom for offset (as only variable has offset, not fixed).
          o   Fixed amount – try to keep this as high as possible (if rates are lower than variable). That way you enjoy the lowest rate for the majority of your loan, given you will not be able to repay the whole loan during the fixed term in 2 or 3 years.

  • Thewe guys do not respond to your emails. I can't imagine what it would be like if once you had a mortgage from them and you actually needed service.

    • Hi dontask - Please allow 24-48 business hours to get back to you. If urgent eg. purchase or fixed expiring, please email or text with "Urgent" and we will contact you ASAP. DM'ed you