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Buying your first home?
Join an ethical bank.

Apply now

Basic Home Loan offer

If you're a first homebuyer, unlock savings with our low rate limited time offer — and we'll also waive the $595 establishment fee.
6.09
%
p.a.
 Variable rate
LVR ≤ 90% applies.
Effective 4 July 2024
6.14
%
p.a.
  Comparison rate*

Things you need to know

  • New loans only
  • Limited time offer, subject to change at our discretion at anytime#
Apply now

Signature features

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"We are proud to be with Bank Australia knowing it’s an ethical choice that supports a healthy environment."
Marnee and Diego from NSW
See more on Product review
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It might be called our Basic Home Loan, but it’s anything but. If you’re a first homebuyer looking for a home loan with extra features, here’s why this one’s for you.

  • Clean money

    A portion of the interest paid on your loan supports sustainable housing, renewable energy and more.

  • Eco pause

    Pause repayments after you’ve been with us a while to pay for new green household elements like solar.

  • Parental pause

    Catch your breath in the early days of parenthood by pausing repayments.

What ethical banking means to us?

To us, ethical banking means making decisions that benefit people and the planet. We live our values through investing and lending in line with our responsible banking policy. We don’t fund harmful industries like fossil fuels, weapons and gambling, and we do support everyday customers, clean energy transition, protecting nature, and social and affordable housing.

Read about our responsible banking policy
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First homebuyer schemes

Victorian Homebuyer Fund
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The Victorian Homebuyer Fund has the potential to open the property ownership door for people who may have thought owning their own home was always just out of reach.
Person holding a baby and kissing it on the cheek in front of a house.
First Home Guarantee
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The First Home Guarantee (FHBG) is part of the Home Guarantee Scheme, an Australian government initiative to support eligible homebuyers purchase a home sooner.
a woman cooking in a kitchen on an induction stovetop
Regional Home Guarantee
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The Regional First Home Buyer Guarantee (RFHBG) is part of the Home Guarantee Scheme, an Australian government initiative supporting eligible regional home buyers to purchase a home sooner.

Thinking of buying your first home?

Your home loan is probably the biggest investment you'll ever make. By choosing a bank that doesn’t invest in fossil fuels, you’re helping shape a better future. Your choice to get a loan with a responsible bank has a ripple effect.
‍
Apply for a loan or pre-approval. All you need is your driver's licence or passport, and your Medicare card, to get started.

Apply now

Explore our home buyers hub


For first home buyers in Australia, here's all you need to know about getting your first home. No sales, just great tips to help you get started out right as you go from renter to happy homeowner.

Learn more

What to expect when you apply

  • You tell us about your situation, including income, expenses and debts – either by phone or online.

    Allow about 20 minutes

  • If it looks good on paper, we offer conditional approval and let you know if we need any documentation.

    Allow 3-7 days

  • Once we verify your credit score and financial position, and conduct a property valuation, you receive formal approval.

    Allow up to 10 days

Apply now

Things you need
to know

‍

#FIRST HOMEBUYER OFFER TERMS AND CONDITIONS

  • Applications received on and from 4 July 2024
  • Limited time offer, subject to change at our discretion at anytime
  • ≤ 90% LVR limit
  • Includes eligible Victorian Homebuyer Fund and NHFIC Guarantee Loans
  • New loans only

We reserve the right to change the rate at any time. Advertised variable rates are current at the time of publication but can be changed at any time. Applications received within the period 4 July 2024 up until offer ends or is withdrawn must be funded no later than 31 December 2024.

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GENERAL ADVICE

  • Any information and advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and seek any third party advice you need.
  • Before deciding to apply, we provide and recommend you read our Financial Services Guide.
  • All applications are subject to a credit assessment and approval. All applicable terms and conditions will be included in our loan offer.
  • Additional fees and charges may be payable – all relevant details will be included in our loan offer.
  • Information and interest rates are current as at the date of publication and are subject to change at any time, at the discretion of Bank Australia Limited.
  • This document does not constitute a contract for finance.

FIXED RATE LOANS

  • If a Fixed Rate is selected, then that rate may vary from the date of application anytime up until the date of funding, unless a rate lock agreement applies.
  • Mortgage Offset and Redraw are not available on Basic Fixed Rate loans.
  • Additional repayments are capped at $30,000 and cannot be redrawn. Repayments in excess of the cap may be subject to a Break Fee.

*Comparison Rate. The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.

IMPORTANT: 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.

Terms and conditions, fees and charges apply. Loans subject to normal lending criteria and approval