Here is a comparison of our flexible home loan options. 

For more information contact an ANZ Mobile Mortgage Manager or visit any ANZ branch.

Loan information	ANZ Fixed Rate	ANZ Simple 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	No minimum amount
Maximum loan amount	90%* of the value of your property	90%* of the value of your property	Up to 90%* of the value of your property or $350,000, whichever is less.
Repayment frequency	Weekly Fortnightly Monthly.	Weekly Fortnightly Monthly.	No set frequency**
Increased regular payments	Up to 5% of your loan balance to a maximum of $10,000^	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)
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 Simple 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".

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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.

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More information

For more information or to apply for an ANZ Home Loan:

 

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^* Lending criteria apply. A loan approval fee may apply. A low equity premium may apply where a loan amounts to over 85% of the property's value. A registered valuer's report will also be required for lending over 80% of the property's value.

^** A $5 fee applies per ANZ Flexidraw application. The minimum redraw amount is $1000.00. Flexidraw is only available on loans drawn before 27 June 2011.

^{^} 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.

This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008.  It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.

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