Variable Offset Home Loan

100%
offset account

Redraw
facility

No monthly
or annual fees
Overview
The Variable Offset Home Loan features:
- A competitive variable interest rate
- 100% offset facility
- The option to make extra repayments to reduce your loan term
- Minimum loan amount of just $50,000
- Loan term up to 30 years
- Principal and interest repayments
- Flexible repayment frequencies - pay weekly, fortnightly or monthly
- Redraw facility ($500 minimum)
- Split Option (with other Australian Military Bank home loans)
- No monthly or annual fees

Rates & Fees
Here’s a summary of the rates and fees for the Variable Offset Home Loan:
- Interest rate: 4.08% p.a.2
- Comparison rate*: 4.12% p.a.3
*Comparison rate based on a loan of $150,000 repaid over 25 years. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
- Application fee: $500
- Monthly fee: $0
- Annual fee: $0
- Mortgage discharge fee: $300
- Lenders Mortgage Insurance (LMI)4: is required where borrowers do not have a deposit of at least 20% of the purchase price
- 3rd party charges: Stamp duty, legal fees and valuation fees apply
Additional fees may be payable. For more information please see our Schedule of Fees and Charges.
Download our Schedule of Fees and Charges

Questions
We’re often asked similar questions about our Variable Offset Home Loan so here are our top five – can’t see your question? Call 1300 13 23 28.

Use the arrows to scroll through the many Australian Military Bank Home Loans options RESET
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Our simple vanilla loan with a super-low variable rate, unlimited additional repayments as well as the ability to redraw.2.98% p.a.2.99% p.a.Up to 95%$0$0Principal and interest only$150,000Up to 30 yearsOwner OccupierVariable
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Get the flexibility of a variable rate with the benefit of a 100% offset facility3.38% p.a.3.42% p.a.Up to 95%$0$0Principal and interest$250,000Up to 30 yearsOwner OccupierVariable
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Variable rate home loan with the benefit of 100% offset facility4.08% p.a.4.12% p.a.Up to 95%$0$0Principal and interest$50,000Up to 30 yearsOwner OccupierVariable
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One year fixed home loan offering the security of knowing what your repayments will be2.89% p.a.4.55% p.a.Up to 95%$0$0Principal and interest$150,000Up to 30 years with a 1 year fixed rate periodOwner OccupierFixed
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Two year fixed home loan offering the security of knowing what your repayments will be2.64% p.a.4.35% p.a.Up to 95%$0$0Principal and interest$150,000Up to 30 years with a 2 year fixed rate periodOwner OccupierFixed
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Three year fixed home loan offering the security of knowing what your repayments will be2.64% p.a.4.19% p.a.Up to 95%$0$0Principal and interest$150,000Up to 30 years with a 3 year fixed rate periodOwner OccupierFixed
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Five year fixed home loan offering the security of knowing what your repayments will be3.29% p.a.4.15% p.a.Up to 95%$0$0Principal and interest$150,000Up to 30 years with a 5 year fixed rate periodOwner OccupierFixed
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A variable loan that allows you to borrow up to 80% of your property's value4.90% p.a.naUp to 80% of the property value$5$0Minimum of 1% of limit per month$50,000N/AOwner Occupier or InvestorVariable
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A variable rate loan helping you to build your dream home, granny flat or renovate your existing home3.38% p.a.3.42% p.a.Up to 95%$0$0Interest only$50,0002 yearsOwner OccupierVariable
The small print
Applications are subject to Australian Military Bank’s normal lending criteria. Full terms and conditions will be included with our loan offer. Fees and charges are payable. Rates are effective from 24 November 2020 and are subject to change.
1 Rates shown apply during the fixed period of your loan. After the fixed period, your rate will switch to the applicable variable rate for a principal and interest loan. Terms and conditions apply.
2 Rates are current at the time of publication and are subject to change. The rates displayed are at 80% LVR (meaning that a minimum 20% deposit is required). The rates displayed are only available for new owner occupier, loan borrowings of $150,000 or more (excluding the Value Home Loan & Construction Home Loan, the interest rate displayed is applicable for new loan borrowings of $500,000 or more).
3 Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. The rates displayed are at 80% LVR (meaning that a minimum 20% deposit is required). WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
4 This amount is inclusive of Lenders Mortgage Insurance (LMI) premium. LMI is required when borrowing in excess of 80% LVR.
5 Based on total average monthly balance and applies to ATM, EFTPOS, Direct Debit and BPAY® transactions.
6 The First Home Loan Deposit Scheme is an Australian Government initiative to help first home buyers get into their first home sooner. Australian Military Bank is proud to be supporting the initiative and supporting eligible first home buyers enter the property market. This is subject to available offers. For more information, click here.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The small print
Applications are subject to Australian Military Bank’s normal lending criteria. Full terms and conditions will be included with our loan offer. Fees and charges are payable. Rates are effective from 24 November 2020 and are subject to change.
1 Rates shown apply during the fixed period of your loan. After the fixed period, your rate will switch to the applicable variable rate for a principal and interest loan. Terms and conditions apply.
2 Rates are current at the time of publication and are subject to change. The rates displayed are at 80% LVR (meaning that a minimum 20% deposit is required). The rates displayed are only available for new owner occupier, loan borrowings of $150,000 or more (excluding the Value Home Loan & Construction Home Loan, the interest rate displayed is applicable for new loan borrowings of $500,000 or more).
3 Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. The rates displayed are at 80% LVR (meaning that a minimum 20% deposit is required). WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
4 This amount is inclusive of Lenders Mortgage Insurance (LMI) premium. LMI is required when borrowing in excess of 80% LVR.
5 Based on total average monthly balance and applies to ATM, EFTPOS, Direct Debit and BPAY® transactions.
6 The First Home Loan Deposit Scheme is an Australian Government initiative to help first home buyers get into their first home sooner. Australian Military Bank is proud to be supporting the initiative and supporting eligible first home buyers enter the property market. This is subject to available offers. For more information, click here.
® Registered to BPAY Pty Ltd ABN 69 079 137 518