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ANZ variable home loan rates
ANZ Standard Variable Home Loan
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ANZ BANK | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
ANZ Simplicity PLUS
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ANZ BANK | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
Construction Home Loan
| COMPANY | TYPE | TERM | INITIAL RATE | THE OVERALL COST FOR COMPARISON IS | PRODUCT FEE | LOAN TO VALUE (LTV) |
|---|---|---|---|---|---|---|
| ANZ BANK | 2 year Offset Tracker at BEBR + 1.22% for 2 years Residential Purchase Offset | 2 years | 5.97% | 6.9 APRC | £1749.00 | 75% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 0.60% | 5 years | 5.35% | 6.4 APRC | £999.00 | 60% |
| ANZ BANK | Residential Remortgage Tracker at BEBR + 1.00% | 5 years | 5.75% | 6.6 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 4.89% | 6.6 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.24% | 6.6 APRC | £0.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.11% | 6.7 APRC | £999.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.25% | 6.6 APRC | £0.00 | 75% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.61% | 6.7 APRC | £99.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.21% | 6.7 APRC | £999.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.95% | 6.8 APRC | £0.00 | 90% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.35% | 6.3 APRC | £999.00 | 60% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 5 years | 5.75% | 6.5 APRC | £999.00 | 85% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 5.97% | 6.9 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 5 years | 6.00% | 6.7 APRC | £1749.00 | 80% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Tracker | 2 years | 5.10% | 6.6 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Residential Mortgage Customers Reward Offset Tracker | 2 years | 6.65% | 7.0 APRC | £1999.00 | 70% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.69% | 8.8 APRC | £1795.00 | 65% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.77% | 8.9 APRC | £1795.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 6.30% | 8.9 APRC | £0.00 | 75% |
| ANZ BANK | Existing Mortgage Customers Reward Buy-to-Let Tracker | 2 years | 5.90% | 8.8 APRC | £1795.00 | 60% |
ANZ variable home loan rates FAQs
Why choose a variable home loan?
Choosing a variable home loan offers flexibility and potential savings. Unlike fixed rates, variable rates fluctuate, affecting your repayment amounts. Here are the benefits in detail:
- save on interest with an offset account: an offset account reduces the interest you pay. Link an ANZ One Offset account to your loan, and only pay interest on the remaining balance. A $10 monthly fee applies
- no ongoing fees: ANZ variable home loans have no setup or ongoing fees, reducing your overall costs
- discounted variable interest rates: your interest rate may be discounted based on your Loan to Value Ratio (LVR). Lower LVRs can mean higher discounts
Flexibility in repayments
A significant advantage of ANZ variable home loan rates is repayment flexibility.
- pay your loan off sooner: make extra repayments anytime without penalty. Extra payments can reduce your loan term and interest paid
- redraw facility: access funds from extra repayments through ANZ Redraw if needed
- progressive drawdown: draw down your loan progressively over 24 months if you’re building a property
Managing loan payments
Variable home loans allow for various payment structures.
- interest-only payments: you can opt for interest-only payments for a set term. This is available for up to five years for owner-occupied properties and ten years for investment properties
- repayment frequency: choose a repayment schedule that suits you: weekly, fortnightly, or monthly
ANZ variable home loan rates provide a blend of flexibility and savings. They are ideal if you want to make extra repayments, use an offset account, or need flexible repayment options. Consider if the potential for fluctuating repayments aligns with your financial situation.
How is interest calculated?
Interest on ANZ variable home loan rates is calculated daily based on your unpaid loan balance. The daily interest is then summed and charged monthly.
Calculation method
Interest is calculated by multiplying the loan balance by the interest rate and dividing by 365 days. Example:
- for a $300,000 loan at 4% p.a., daily interest is $300,000 x 4% / 365 = $32.88
- daily calculation means your interest charges reflect your balance every day
- monthly charging simplifies your repayment schedule
Influencing factors
Several factors influence ANZ variable home loan rates.
- Reserve Bank of Australia (RBA) cash rate: lenders use the RBA cash rate as a baseline
- market conditions: supply and demand for credit can affect rates
- interbank transactions: rates are influenced by transactions between banks
Interest on ANZ variable home loan rates is calculated daily and influenced by several economic factors. Understanding this can help you better manage your loan.
Is ANZ increasing interest rates?
ANZ’s variable home loan rates will adjust once the RBA officially changes the cash rate. ANZ forecasts the next rate change in 2025, based on market conditions and economic factors discussed in their recent commentary on potential rate hikes.
November 2023 interest rate increase
As ANZ remains vigilant on potential RBA rate decisions, it will adjust its rates accordingly, much like the 0.25% increase in November 2023. This change impacted home, residential investment, and line of credit loans.
- effective date: the new rates took effect on 17 November 2023
- repayment adjustments: minimum repayment amounts increased due to the rate hike
What this means for customers
Customers saw the new rates in their accounts from 17 November 2023. The minimum repayment amounts adjusted accordingly.
- the new rate became visible on ANZ Internet Banking
- minimum repayments increased due to the rate hike
- ANZ notified clients if there were changes to their repayments
What customers can do
Customers have several options to manage the increased rates, including:
- adjust repayments: change your repayment amount if you manage it yourself
- switch repayment frequency: switching to fortnightly or weekly payments can reduce interest costs
- offset accounts: use an ANZ One offset account to lower interest payments
Home loan options
These are different options to better manage customers’ home loan after the rate change:
- switch to a lower rate loan: consider ANZ Simplicity PLUS for competitive rates
- fix or split your loan: fix part of your loan or split it for rate stability
- reduce to minimum repayments: lower your payments if you’re paying more than the minimum
ANZ’s criteria for interest rate decisions
ANZ reviews interest rates based on several factors, such as:
- wholesale funding costs: the expense of obtaining funds impacts rates
- market position: competitive dynamics influence pricing
- economic conditions: the broader economic environment is considered
- regulatory requirements: compliance with regulations affects rates
Why did the RBA increase rates in November 2023?
The RBA raised rates to combat persistent inflation and a stronger-than-expected economy. This action aims to prevent larger rate hikes in the future.
ANZ variable home loan rates have increased due to economic factors and regulatory considerations. Customers can manage their loans through various strategies, ensuring they stay on top of repayments.
Is an ANZ bank reliable?
ANZ Bank is considered reliable due to its strong history and reputation. Established in 1835, ANZ has become one of Australia's largest investment providers and holds investment-grade ratings from leading credit agencies.
Investment-grade ratings
- AA- from S&P
- A+ from Fitch
- Aa3 from Moody’s
These ratings reflect ANZ’s financial strength and stability.
Customer relationships
ANZ ranks highly in customer relationship strength. The bank has received recognition for its exceptional performance in various customer satisfaction surveys and metrics. ANZ also ranked number one for lead bank status, relationship manager capability, and overall satisfaction with products and services.
Customer reviews
Clients highlight ANZ's reliability, dependable funding, and great anti-fraud system. The bank is praised for its trustworthy services and strong customer support. The competitive nature of ANZ variable home loan rates also plays a significant role in the bank’s good relationship with customers.
Strong investment ratings and positive customer feedback all support its reliability. Mortgage brokers and businesses can trust ANZ for consistent and secure financial services.
