ANZ home loan review
Also known as Australia and New Zealand Banking Group, ANZ Bank
ANZ suits borrowers who want a major bank without paying an annual package fee: ANZ says it charges no home loan package, set-up or ongoing fees on new loans and refinances, and its offset account costs $10 a month. It takes part in the 5% Deposit Scheme. The trade-off is a narrower range of perks than a package gives you at CommBank or Westpac.
This review covers ANZ's variable, basic and fixed loans, the digital ANZ Plus home loan, how ANZ sets rates by LVR, and how ANZ compares with Suncorp Bank, which it now owns.
By Better Rate Mate Editorial Team · Last reviewed · Checked against ANZ's own website
Latest ANZ variable rate change
On 30 September 2026 ANZ announced a 0.25% p.a. rise in variable rates across its Australian home loans. It took effect on 9 October 2026. ANZ's announcement (checked 10 October 2026). For today's rates, see ANZ's rates page.
ANZ home loans at a glance
| Feature | ANZ |
|---|---|
| Offset account | ANZ One offset on Standard Variable, $10 a month |
| Redraw | Yes on variable loans |
| Split loans | Yes, any fixed/variable ratio |
| Package | None: ANZ says no home loan package, set-up or ongoing fees on new loans |
| Minimum loan | $20,000 (Standard Variable, Fixed), $50,000 (Simplicity PLUS) |
| Other loan types | Bridging, construction and supplementary loans |
| Profession-based LMI waiver | None published on anz.com.au when we checked |
| Ways to apply | Online, ANZ home loan specialist, mortgage broker (ANZ Mortgage Solutions franchises) |
| 5% Deposit Scheme | Participating lender (first home buyers can buy with 5% and no LMI) |
ANZ mortgage and home loan repayment calculator
Enter the rate for the ANZ loan you're considering (from its rates page), your loan amount and term. The calculator uses the standard principal and interest formula lenders use, so for the same rate, amount and term it gives the same repayment as ANZ's own calculator. It doesn't include fees or future rate changes. For the maths and assumptions, see our mortgage repayment calculator page, and test your buffer with the stress test calculator. If you're buying, you can also estimate your stamp dutyand work out how much you can borrow.
Mortgage repayment calculator
Repayments and total interest, with optional extra repayments, an offset account or an interest-only period.
Monthly repayment
$2,997.75
| Loan amount | $500,000 |
|---|---|
| Interest rate | 6.00% a year |
| Time to repay | 30 years |
| Total repayments | $1,079,191 |
| Total interest paid | $579,191 |
Year-by-year balance
| Year | Interest | Principal repaid | Balance |
|---|---|---|---|
| 1 | $29,833 | $6,140 | $493,860 |
| 2 | $29,454 | $6,519 | $487,341 |
| 3 | $29,052 | $6,921 | $480,420 |
| 4 | $28,625 | $7,348 | $473,073 |
| 5 | $28,172 | $7,801 | $465,272 |
| 6 | $27,691 | $8,282 | $456,990 |
| 7 | $27,180 | $8,793 | $448,197 |
| 8 | $26,638 | $9,335 | $438,862 |
| 9 | $26,062 | $9,911 | $428,951 |
| 10 | $25,451 | $10,522 | $418,429 |
| 11 | $24,802 | $11,171 | $407,257 |
| 12 | $24,113 | $11,860 | $395,397 |
| 13 | $23,381 | $12,592 | $382,805 |
| 14 | $22,605 | $13,368 | $369,437 |
| 15 | $21,780 | $14,193 | $355,244 |
| 16 | $20,905 | $15,068 | $340,176 |
| 17 | $19,975 | $15,998 | $324,178 |
| 18 | $18,989 | $16,984 | $307,194 |
| 19 | $17,941 | $18,032 | $289,162 |
| 20 | $16,829 | $19,144 | $270,018 |
| 21 | $15,648 | $20,325 | $249,693 |
| 22 | $14,395 | $21,578 | $228,115 |
| 23 | $13,064 | $22,909 | $205,205 |
| 24 | $11,651 | $24,322 | $180,883 |
| 25 | $10,151 | $25,823 | $155,060 |
| 26 | $8,558 | $27,415 | $127,645 |
| 27 | $6,867 | $29,106 | $98,539 |
| 28 | $5,072 | $30,901 | $67,638 |
| 29 | $3,166 | $32,807 | $34,831 |
| 30 | $1,142 | $34,831 | $0 |
Stress test this loan at higher rates, or see how much you can borrow.
An estimate: interest is charged at the repayment frequency and the rate never changes. It leaves out fees, redraws and rate changes, and assumes the lender accepts extra repayments. Check fixed rate loans for an extra repayment limit, and confirm figures with your lender.
Is ANZ good for home loans?
ANZ suits borrowers who want a major bank without paying an annual package fee: ANZ says it charges no home loan package, set-up or ongoing fees on new loans and refinances, and its offset account costs $10 a month.
Pros
- +No home loan package fee, set-up fee or ongoing fee on new loans (per ANZ)
- +Offset available on the Standard Variable loan
- +Takes part in the 5% Deposit Scheme
- +Bridging and construction loans available
- +Flexible split between fixed and variable
Cons
- -The offset account costs $10 a month
- -Simplicity PLUS has a $50,000 minimum and basic features only
- -Rate discounts are tiered at 80% LVR, so borrowers above 80% pay more
Who ANZ suits
- Borrowers who dislike annual package fees
- First home buyers using the 5% Deposit Scheme
- People who need a bridging or construction loan from a major bank
About ANZ
Australia and New Zealand Banking Group is one of the four major banks and an APRA-regulated authorised deposit-taking institution. Since 31 July 2024 it has also owned Suncorp Bank, which still sells home loans under its own brand.
ANZ's home loans are the ANZ Standard Variable, ANZ Simplicity PLUS, ANZ Fixed Rate and the ANZ Plus home loan, a digital loan managed in the separate ANZ Plus app. It also offers bridging, construction and supplementary loans.
- Ownership
- One of the four major banks. ANZ acquired Suncorp Bank on 31 July 2024.
- Lender and licence
- Australia and New Zealand Banking Group Limited ABN 11 005 357 522, Australian credit licence 234527
ANZ home loan products
ANZ Standard Variable
ANZ's most flexible loan, with an ANZ One offset account available for $10 a month, extra repayments and redraw. Minimum loan $20,000.
ANZ Simplicity PLUS
A no-frills variable loan with a lower rate and basic features. Minimum loan $50,000.
ANZ Fixed Rate
A fixed-rate loan; ANZ quotes a discounted two-year fixed rate for owner-occupiers borrowing 80% or less. You can split a loan between fixed and variable in whatever ratio suits you.
ANZ Plus home loan
A digital home loan for refinancing an existing home loan of $10,000 to $2 million, applied for and managed only in the ANZ Plus app: a variable rate with principal and interest repayments, up to 80% LVR, and one linked offset account for $10 a month. It isn't available for properties in Tasmania or the Northern Territory.
ANZ home loan rates: how they are set
ANZ sets rates from an index rate for each product, less a discount that depends on whether your LVR is 80% or less or above 80%. Discounted rates also depend on the loan being principal and interest and owner-occupied, and investor and interest-only rates are higher.
Because ANZ doesn't charge a package fee, its advertised rate and comparison rate sit closer together than a packaged loan's. ANZ's own explanation notes that the comparison rate doesn't include government charges, redraw fees or fee waivers.
For a benchmark, the RBA's average rate on new owner-occupier variable loans across all lenders was 6.23% in August 2026, and 6.40% for investors (published 8 October 2026). The RBA's cash rate target was 4.60% as at 10 October 2026, after a 0.25 point rise effective 30 September 2026; its next decision is due on 3 November 2026.
ANZ Plus vs ANZ's standard home loans
ANZ Plus is ANZ's separate digital bank, and its home loan is narrower than ANZ's standard range: it is only for refinancing, only variable, and only managed in the ANZ Plus app. ANZ's standard loans cover buying as well as refinancing, include fixed rates and splits, and come with branch, phone and broker support.
| ANZ Plus home loan | ANZ standard home loans | |
|---|---|---|
| Use | Refinancing an existing home loan of $10,000 to $2 million | Buying, building or refinancing |
| Rate types | Variable only, principal and interest | Variable (Standard Variable, Simplicity PLUS) and fixed, with splits |
| Offset | One linked ANZ Plus Everyday account, $10 a month | ANZ One offset on Standard Variable, $10 a month |
| Maximum LVR | 80% (lower in some locations) | Set by product and your situation; rates are tiered at 80% LVR |
| How you apply and manage it | ANZ Plus app only, with app-based specialists; not through internet banking, branches or the call centre | Online, with an ANZ home loan specialist or through a broker |
| Not available for | Properties in Tasmania or the Northern Territory | No such restriction stated |
| Other loans | None | Bridging, construction and supplementary loans |
Contacting ANZ about a home loan
ANZ's phone directory lists 1800 519 766 for new home loan applications and further lending (8am to 9.30pm weekdays and 8am to 4.30pm weekends, Sydney and Melbourne time; +61 3 8699 6977 from overseas), and 13 25 99 for existing home loan customers (8am to 7pm weekdays). You can also request a call back online. ANZ Plus home loans are handled in the ANZ Plus app, not by the call centre.
ANZ vs Suncorp Bank
Suncorp Bank has been part of the ANZ Group since 31 July 2024. To support its customers' move to ANZ, Suncorp Bank is no longer accepting applications for home loans (its home loans page, checked 10 October 2026), so new borrowers need to look at ANZ or another lender. ANZ is on the 5% Deposit Scheme list; Suncorp Bank isn't. See our Suncorp Bank review.
ANZ vs CommBank and Westpac
CommBank and Westpac bundle offset and rate discounts into $395 annual packages; ANZ doesn't charge a package fee but charges $10 a month for its offset. On a larger loan where you would use the package discount, the packaged banks can work out cheaper; on a smaller loan, ANZ's no-package approach often wins. Compare comparison rates at your own loan size. See CommBank and Westpac.
How to apply for an ANZ home loan
- 1
Check eligibility and gather income, expense and debt details
- 2
Apply online, request a call back, or see an ANZ Mortgage Solutions broker
- 3
ANZ assesses serviceability and values the property (ANZ's valuation may differ from the price you pay)
- 4
Conditional then formal approval; sign the loan documents
- 5
Settlement with your conveyancer
Check how much you could borrow with our borrowing power calculator; ANZ's own calculator applies its own lending policy, so its figure can differ.
Budget for stamp duty: NSW stamp duty calculator · VIC stamp duty calculator · QLD stamp duty calculator · WA stamp duty calculator · SA stamp duty calculator · TAS stamp duty calculator · ACT stamp duty calculator · NT stamp duty calculator
Before you apply, ask for the key facts sheet for your loan amount. Every lender must provide one in the same format, which makes loans easy to compare side by side.
ANZ home loan questions
Does ANZ charge a package fee on home loans?
ANZ says it charges no home loan package, ANZ set-up or ongoing fees when you take out a new home loan or refinance. Some feature fees still apply, such as $10 a month for the ANZ One offset account.
What is the minimum ANZ home loan?
$20,000 for new Standard Variable and Fixed Rate loans and $50,000 for new Simplicity PLUS loans.
Is ANZ part of the 5% Deposit Scheme?
Yes, ANZ is on Housing Australia's participating lender list. Suncorp Bank, which ANZ owns, isn't on the list.
What is the ANZ Plus home loan?
A digital home loan for refinancing an existing loan of $10,000 to $2 million, managed only in the ANZ Plus app. It is variable with principal and interest repayments, lends up to 80% of the home's value, and offers one offset account for $10 a month. It isn't available for properties in Tasmania or the Northern Territory.
Is ANZ Plus worth it?
It depends on what you need. ANZ Plus suits refinancers who want a variable loan managed entirely in an app. If you're buying, want a fixed rate or split, need more than 80% of your home's value, or want branch or phone help, ANZ's standard loans fit better. Compare the comparison rate for your loan amount on both.
What are the top 3 banks in Australia?
By assets on their Australian books, the three largest are Commonwealth Bank, Westpac and NAB, with ANZ fourth, according to APRA's monthly banking statistics for August 2026. Together they are known as the four major banks. Size doesn't tell you which loan suits you.
What is ANZ's home loan phone number?
ANZ lists 1800 519 766 for new home loan applications and further lending, and 13 25 99 for existing home loan customers.
How do I work out ANZ home loan repayments?
Take the rate for your loan type and LVR from ANZ's rates page and enter it with your loan amount and term in the calculator on this page. The maths is the same standard principal and interest formula ANZ's own calculator uses.
