Our loans come in many forms, and if you prefer the financing of your property to be kept simple then you can count on our Basic Variable loan.
Key features.
| Owner occupied and investor. | Annual rate. | Comparison rate.* |
|---|---|---|
| Variable rate. | 3.45% p.a. | 3.49% p.a. |
| Fees. | |
|---|---|
| Application fee. | $0 |
| Loan Settlement fee.^ | $275 |
| Valuation fee.^ | |
| – Standard valuation. | $205.25 |
| Loan Service fee.^ (monthly) | $8 |
| Consent and variation fee.^ | $250 |
| Switching fee.^ (For example switching from fixed to variable interest rate.) | $300 |
| Security discharge administration fee.^ | $250 |
| Substitution of loan security fee.^ | $275 |
| May be payable.^ | |
| – Solicitors and other parties actioning requests. | Not ascertainable |
| Rate lock fee. | |
| – When you ask us to lock in a fixed, or guaranteed, rate of interest on a home loan. | 0.15% of the fixed interest rate loan amount. |
| Break cost fee.† | |
| Payable before expiry of any period when interest rate is fixed on any portion of loan due to loan being repaid, interest becoming variable or default. We calculate the ‘break cost’ using the following formula: | |
| Let n = the remaining number of months for which the rate is fixed. Let A = current outstandings. Let P = monthly scheduled payments. Let z = annual fixed interest rate payable monthly. Let y = annual reinvestment rate payable monthly. Let b = (1+y/12)n Let d = (1+z/12)n. Then the Break Value is given by: (A/b)*(d-b)+12P/(byz)*(z(b-1)-y(d-1)). |
|
| Arrears reminder notice fee (per letter). | $20 |
| Default Notice (enforcement notice). | $20 |
| Redraw Fee (Basic Variable home loan only). | $25 |
Comparison rates based on a $150,000 secured loan over 25 years. Fees and charges are payable. Terms and conditions available on request. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. For interest only variable loans, the comparison rates are based on an initial 5 year interest only term. For fixed rate interest only loans, the comparison rates are based on an initial interest only period equal in term to the fixed period.
Not payable under the Ultimate Package.
Not payable on the DHOAS Premier and DHOAS Premier Low Rate Home Loan or Premier and Premier Low Rate Home Loan. Details available in branch or at defencebank.com.au
Terms and conditions, fees and charges apply and are available upon request.
Approval subject to Defence Bank's lending criteria.
Rates apply to new applications received however are subject to change at anytime.
Defence Bank’s Target Market Determination can be viewed here.
You need to have at least 5% genuine savings plus enough funds to cover fees and charges.
Where you have less than a 20% deposit, lenders mortgage insurance (LMI) or, if you are eligible, a First Home Loan Deposit Scheme Guarantee will be required. It’s best to talk to a home loan consultant to find out more.
The Defence Home Ownership Assistance Scheme (DHOAS) assists current and former Australian Defence Force (ADF) members and their families to achieve homeownership.
DHOAS is administered by the Department of Veterans' Affairs (DVA) on behalf of the Department of Defence.
DHOAS provides eligible current and former serving members of the Permanent Force and the Reserves with a subsidy on the interest of their home loans.
The subsidy is paid monthly, directly into a DHOAS home loan. The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit.
To learn more about Defence Bank DHOAS home loans click here.
To find out more about DHOAS and your eligibility click here.
Yes, we are one of the financial institutions who are able to offer this scheme to our members. To check your eligibility, visit the National Housing Finance and Investment Corporation (NHFIC) website.
Check if you’re eligible.
