Essentials home loan - Ultimate Package (interest only).

Our most comprehensive home loan, with loads of extra benefits and support with fixed rate options from 1 to 5 years.

2 .49 % p.a. 1 year fixed rate.
3 .68 %* p.a. Comparison rate.

Fixed rate options 1 to 5 years.

Can make extra repayments.

No application or extra repayment fees.

Added benefits.

The cream of the crop when it comes to our range of home loans on offer. This is the option for you if you want the ultimate in value across your entire financial set up, one simple annual fee, free redraws and benefits across our debit card, credit card, insurance, personal loan and term deposit options.

Everything you could want in a home loan, this has it - not to mention our Australia-based Contact Centre team who understand the unique challenges and opportunities of being in the defence community.

Key features.

  • Fixed-rate options 1 to 5 years.
  • No application or establishment fees.
  • No monthly fees.
  • No annual fee on our Defence Bank Foundation credit card.
  • No fees for extra repayments.
  • 15% discount on CGU home, contents and landlord insurance.
  • No application fee on personal loans.
  • 0.15% p.a. bonus rate on term deposits.
Investor - fixed interest-only. Annual Rate Comparison Rate
Fixed 1 year. 2.49% p.a. 3.79% p.a.
Fixed 2 year. 2.49% p.a. 3.68% p.a.
Fixed 3 year. 2.49% p.a. 3.57% p.a.
Fixed 4 year. 2.79% p.a. 3.57% p.a.
Fixed 5 year. 2.79% p.a. 3.50% p.a.
Fees.  
Annual package fee. $380
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

 

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.

On expiry of the fixed interest rate period, the interest rate will revert to the applicable Essentials home loan with Ultimate package variable interest rate (Investor) which applies at the time of expiry.

Next steps...

We offer a range of DHOAS-compatible home loans for owner-occupiers.
Use our home loan calculators to see how your dream home fits into your budget.
Any questions? Speak to our experienced, helpful staff.
Find a home loan consultant at a branch near you.

Frequently asked questions.

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.

Look at our home loan options.

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.

Let's talk.

Got a question or feedback? Get in touch at any time.
Jump into a Live Chat session to address your queries.
Visit a branch and discuss your finances face-to-face.
Need to talk to someone right away? Call us now.