Rates as at 28 Sep 2026
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The Australian Military Bank Ratesaver Home Loan investment option has a variable rate of 6.59% (comparison rate 6.62%), which can move when the lender changes its rates. Repayments are principal and interest, reducing the loan balance over time, and borrowers can borrow up to 95% of the property value with a deposit of at least 5%. Deposits under 20% (an LVR above 80%) usually attract Lenders Mortgage Insurance. The loan also offers unlimited additional repayments and a redraw facility.
This summary was generated from Australian Military Bank’s published product data for this specific rate option. Always confirm current rates with the lender.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Australian Military Bank or a mortgage broker just to be sure. This information should be used as a guide only.
Australian Military Bank charge a discharge fee of $120, which covers the cost for removing the mortgage that has been registered on the title of your property.
No, Ratesaver Home Loan does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
No, Ratesaver Home Loan does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Ratesaver Home Loan comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
There is upfront costs of $1036 to apply for Ratesaver Home Loan. Application fee: $500
Valuation fee: $250
Legal fee: $286 Ratesaver Home Loan also comes with ongoing account fees of $96 per year. Monthly fee: $8 per month
There is upfront costs of $986 to apply for Ratesaver Home Loan. Application fee: $450
Valuation fee: $250
Legal fee: $286 Ratesaver Home Loan also comes with ongoing account fees of $96 per year. Monthly fee: $8 per month
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Australian Military Bank or a mortgage broker just to be sure. This information should be used as a guide only.