ANZ Banking Group
Lender Overview
ANZ is one of Australia's big four banks, with a strong presence across Australia, New Zealand and the Asia-Pacific region. ANZ has invested heavily in its digital banking platform (ANZ Plus) and is known for competitive home loan pricing relative to its major bank peers. ANZ is listed on the ASX (ASX: ANZ) and regulated by APRA.
Loan Products Offered
ANZ Plus Home Loan
Digital-first variable rate home loan with a competitive rate and fully featured app. No annual fee. Includes offset account and unlimited extra repayments.
ANZ Simplicity PLUS
No-frills variable rate product with a low ongoing rate and basic features. No offset account.
ANZ Breakfree Package
Annual fee package ($395/year) with discounted rates, offset account, and fee waivers. Suitable for borrowers with larger loan balances.
ANZ Fixed Rate Home Loan
Fixed terms of 1 to 5 years. $10,000 per year limit on additional repayments during the fixed term.
Pros and Cons
Pros
- +ANZ Plus is a genuine digital banking innovation with strong rate competitiveness
- +Competitive pricing relative to the other major banks
- +Strong presence in New Zealand useful for trans-Tasman property ownership
- +Clear online application process with good digital support
Cons
- -Smaller branch network than CBA or Westpac in some states
- -ANZ Plus is digital-only with limited in-branch support for Plus products
Typical Rates
| Loan Type | Indicative Rate |
|---|---|
| Owner-Occupier Variable (P&I) | RBA cash rate + 2.60% to 3.15% (indicative) |
| Owner-Occupier Fixed | Market rate at time of fixing, varies by term |
| Investor Variable (P&I) | RBA cash rate + 2.90% to 3.50% (indicative) |
ANZ Plus rates may differ from standard ANZ rates. Confirm current rates directly with ANZ or through a broker.
Application Process
- 1
Apply via ANZ Plus app (for Plus loans) or the ANZ website/branch (for standard products)
- 2
Income verification, identification, and property details required
- 3
Automated valuation may be used for refinancers in stable markets
- 4
Conditional approval typically 2 to 5 business days via digital channel
- 5
Settlement coordinated with conveyancer
Who ANZ Banking Group Suits Best
- ✓Tech-savvy borrowers who prefer a digital-first experience via ANZ Plus
- ✓Borrowers seeking a major bank rate that is slightly more competitive than peers
- ✓Trans-Tasman borrowers who own property in both Australia and New Zealand
