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Compare home loans - Home loans
Compare home loans
| Loan information | ANZ Fixed Rate | ANZ Standard Variable Rate | ANZ FlexiPlus |
|---|---|---|---|
| Benefits | Budget with confidence and protect yourself from interest rate rises during the fixed term. | Flexibility, the ability to make extra payments or switch to a fixed rate home loan any time. This loan can also adapt with changes in your circumstances. | Put all your available money into this all-in-one home loan and transaction account. You could reduce your interest costs and may pay off your loan sooner. |
| Interest rate | Fixed for six months or one, two, three, four or five years | Variable | Variable |
| Minimum loan term | No minimum term | No minimum term | No minimum term |
| Maximum loan term | 30 years | 30 years | No set term |
| Minimum loan amount | No minimum amount | No minimum amount | $10,000 |
| Maximum loan amount | 80%* of the value of your property | 80%* of the value of your property | 80%* of the value of your property or $350,000 |
| Repayment frequency |
|
|
No set frequency** |
| Increased regular payments | Early repayment fee^ | No early repayment fee | No early repayment fee |
| Extra lump sum payments | Early repayment fee^ | No early repayment fee | No early repayment fee |
| Loan repayment holidays | Yes^^ (on application) | Yes^^ (on application) | NA |
| Loan top-ups | Yes (as a separate loan) | Yes (on application) | Yes (on application) |
| ANZ Flexidraw | No | Yes (on application) | NA |
| Interest only option | Up to 10 years (on application) | Up to 10 years (on application) | NA |
| Monthly fees | Nil | Nil | $12.50 |
| Loan approval fee | Maximum $400 | Maximum $400 | Maximum $400 |
| Available for residential investment loans | Yes | Yes | Yes |
Loan top-ups
You can apply to borrow more money on the same terms as your existing ANZ Standard Variable Rate Home Loan or FlexiPlus (a fee may apply). If you have an ANZ Fixed Rate Home Loan, you can apply for a separate loan at the interest rate applying at the time you start using your "top-up".
ANZ Flexidraw
If you have an ANZ Standard Variable Rate Home Loan, you can use ANZ Flexidraw to redraw any extra payments (one-off or additional regular repayments) that you've made over and above your regular minimum payment amount. The minimum redraw amount is $1,000 and a redraw fee applies.
Interest only
With an interest-only home loan, you start out by paying only the interest due on the amount you've borrowed. Because you're not repaying any of the principal, your payments aren't as high as with other loan types.
You can choose either a fixed or variable interest-only loan for a term of up to 10 years. After that, you have to either pay off your original loan amount (the principal) or change to a table loan or a reducing loan.
Interest-only loans are useful if:
- you need a loan now, but don't want to make full payments straight away – for example as "bridging finance" when you need money for a new home before you've sold your old one
- you know you'll have enough money to pay off your original loan before the end of your interest-only term – for example, if you have a large investment due to mature in three years' time.
Remember, at the end of the interest-only term, you'll still owe your entire original loan amount.
More information
For more information or to apply for an ANZ Home Loan:
Call 0800 ANZ HOME (0800 269 4663)
* Lending criteria apply. A loan approval fee may apply. For loans over 80% of the property value, a low equity premium on a graduated scale will apply (the fee range is 0.20% to 1.25% of the loan amount) and a registered valuer's report is required.
** A $5 fee applies per ANZ Flexidraw application. The minimum redraw amount is $1,000.
^ If you have a fixed rate home loan, for each year of the fixed rate term, you can make extra payments (in addition to your regular fixed payments) of up to 5% of the loan balance, to a maximum of $10,000, without incurring an early repayment fee. If you choose to make extra payments over this threshold or repay your fixed rate home loan early, you may have to pay an early repayment fee and an early repayment administration fee.
^^ Home Loan repayment holidays are not available on interest only.
ANZ lending criteria, terms and conditions and fees apply to all loans.
You can ask for more information, including full terms and conditions for all of ANZ's lending products and a current Disclosure Statement, published by ANZ National Bank Limited, at any ANZ branch.
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