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ANZ Simplicity PLUS

Our low rate, low fee loan

If you need a variable rate loan for a home to live in, but you don't want to pay for extra features you won't use, consider ANZ Simplicity PLUS. It's a basic loan that still gives you the flexibility to make extra repayments to pay it off sooner. 

View rates & fees    Apply now



 

Loan features

What this loan offers

Make extra repayments to pay off your loan faster

No extra fees for making additional repayments whenever you can.

 

Redrawdisclaimer your extra repayments if you need to

If you've made additional repayments to an eligible loan account, you could apply to access these funds using ANZ Redraw.

 

Choose how you make repayments

Pick a loan term of up to thirty years, and repay weekly, fortnightly or monthly.

 

Draw down the loan progressivelydisclaimer

If you're constructing a property, your loan can be drawn down over up to 12 months. (Fees and charges may apply.)

Make interest only repaymentsdisclaimer

You can apply for a loan with interest only repayments for an agreed term (5 years maximum for a home to live in).disclaimer Making interest only repayments may suit you in some circumstances.

(Note that if you decide this option is right for you, your repayments will be lower during the interest only period but you will have to repay the principal down the track and you may pay more over the life of your loan.)

 

Ask for an ANZ Home Loan repayment holidaydisclaimer

If you are eligible, you could apply to suspend payments for up to three months. 

 

What's the difference between ANZ Simplicity PLUS and ANZ Standard Variable

 
  ANZ Simplicity PLUS ANZ Standard Variable
Variable interest rate (for a home to live in)
Comparison ratedisclaimer
Available with ANZ Breakfree package No Yes
Link it to an ANZ One offset account No Yes
Use it for a residential investment property No Yes
Minimum loan amount $50,000 $20,000
Loan Approval Fee LAF waived on request (special offer, usually $600)disclaimer $600 (waived on ANZ Breakfree)
Renegotiation Fee Waived on request (special offer, usually $200 or $350 depending on change requested)disclaimer $200 or $350 depending on change requested (waived on ANZ Breakfree)
Loan Administration Charge Nil $5 per month

Things to consider

 What should I do if interest rates move up or down?

Your loan repayments can be adjusted by ANZ accordingly. As ANZ Simplicity PLUS is a variable rate loan, do consider whether you can afford higher loan repayments if interest rates go up.

Can't decide between variable and fixed?

Some customers choose to split their home loan between the two. For example: if you need to borrow $200,000 to buy a property, you may decide on a 50-50 split loan, with $100,000 each as an ANZ Simplicity PLUS Home Loan and ANZ Fixed Home Loan.

  

OFFER

Save 0.52% p.a. off the advertised rate

Take out an ANZ Simplicity PLUS home loan of $50,000 or more in new to ANZ lending and save 0.52% p.a. off the advertised ANZ Simplicity PLUS home loan interest rate. We'll also waive the Loan Approval Fee or any Renegotiation Fee upon request.disclaimer

Rates and fees

The important numbersdisclaimer

Rates and fees
Interest rate

See all rates for this loan

Comparison ratedisclaimer

Loan Approval Fee

LAF waived on request (special offer, usually $600)disclaimer

Loan Administration Charge

Nil

Renegotiation Feedisclaimer

Waived on request (special offer, usually $200 or $350 depending on change requested)disclaimer

Rates and fees
Minimum loan amount

$50,000

Maximum loan amount

Subject to ANZ's credit assessment criteria

Maximum loan term

30 years

Early Repayment Cost  

$0

Redraw fee

$0

Lenders Mortgage Insurance (LMI)disclaimer

If LVR is more than 80%

What is LVR?

Calculators

Let's do the maths

What could my repayments be?

Get an estimate of your potential loan repayments


How much could I borrow?

Get an indication of how much you may be able to borrow

FAQs

Get your questions answered

   What are LMI and LVR?

If you need to borrow more than 80% of the amount your property is valued at by ANZ you may need to pay Lenders Mortgage Insurance (LMI). Banks often call this percentage the ‘LVR’ , which stands for ‘Loan to Value Ratio’. LMI protects the lender if you default on your loan. For some property types, LMI might be required when LVR is less than 80%. 

   How is interest calculated?

Interest is calculated based on the unpaid daily balance of your loan. For example, if you had a loan balance of $150,000 and your interest rate was 6% p.a., your interest charge would be: $150,000 x 6% divided by 365 days = $24.66 for that day. For most ANZ Home Loans, interest is usually calculated daily and charged monthly. For details refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB) and your letter of offer.

   Principal and interest, or interest only?

Let’s put it this way: if you choose interest only, your minimum repayments will be lower during the interest only period because you are not required to repay the principal balance. You will have to repay the principal down the track and you will pay more over the life of your loan. Choosing to repay principal and interest means that you’re actually paying off the total loan amount over the period of the loan, not just the interest charges.

Contact us, we're here to help

Call a Home Loan Specialist

1800 100 641

Mon-Fri 8.00am to 8.00pm (AEST),
Sat-Sun 8.00am to 6.00pm (AEST)

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All applications for credit are subject to ANZ’s credit assessment criteria. Terms and conditions are available on application. Fees and charges apply. 

Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the Terms and Conditions, Product Disclosure Statement and Financial Services Guide before acquiring any product. 

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Repayment Calculator

All applications for credit are subject to ANZ’s normal credit approval criteria. Product terms and conditions are available on application and eligibility criteria applies to the Breakfree package. An annual Breakfree package fee of $395 and a minimum lending requirement of $150,000 applies. Breakfree benefits only apply while you maintain the package and meet ongoing eligibility criteria. See anz.com/breakfree or ask ANZ for details.

This is an estimate for illustrative purposes only and is based on the limited information provided. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application.

The estimated repayment amount does not include any fees or charges.

If a Variable Rate Loan is selected, the interest rate will be subject to change throughout the term of the Loan, which can impact on repayment amounts.

Results are based on approximate amortised scheduled repayments and do not take into account interest rate changes or other events that may change repayment amounts on a loan.

For fixed rate loans, once the fixed rate period expires, the loan reverts to a variable rate loan and repayment amounts will change.

For interest only loans, minimum repayments will increase to principal and interest after the interest only period expires. Interest only loans are not for everyone and you should consider if this is the right strategy for you.

The calculator does not include ANZ Equity Manager.

Interest rates are current as at  and are subject to change.

Rates shown for loans of less than $150,000 do not include the Breakfree discount. Visit ANZ Breakfree to find out if you are eligible for the Breakfree discount.

ANZ Home Loans are available for periods between 1 and 30 years.

ANZ Home Loans are available for a minimum of $10,000. This calculator has been set to a maximum of $9,900,000 but you can apply for a higher amount.

Borrowing power calculator

All applications for credit are subject to ANZ's normal credit approval criteria. Product terms and conditions are available on application. Fees and charges apply.

This estimate is based on the accuracy of the limited information provided. It is also based on a loan term of 30 years and either an ANZ Standard Variable rate for home loans or an ANZ Standard Variable rate for residential investment property loans depending on the type of property you have selected. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application.

The calculation of estimated maximum home loan borrowing power excludes Lenders Mortgage Insurance. The value of the security property is also considered in any credit assessment criteria.

Minimum loan amounts apply to different loan types. For more information, visit anz.com or contact us.

Terms and Conditions and eligibility criteria apply to ANZ Redraw. ANZ Redraw is not available on loans in a company name. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).

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A Progress Payment Fee of $250 will be payable when you first request a Progress Payment to be drawn down under the loan. See ANZ Personal Banking General Fees and Charges (PDF 116kB).

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Interest only loans are not for everyone and you should consider if this is the right strategy for you. Applications are subject to credit assessment.

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Subject to ANZ's credit assessment criteria.

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Approval is at ANZ’s discretion.  See the ANZ Consumer Lending Terms and Conditions (PDF 412kB) for eligibility criteria. Interest on the amount of principal outstanding will continue to accumulate during the repayment holiday period.

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This comparison rate is for a loan of $150,000 over 25 years based on monthly repayments. These rates are for secured loans only.

WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. 

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Offers can be withdrawn or changed at any time.

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Interest rates shown on this page are current as at  and are subject to change. For all applicable fees & charges please see the ANZ Personal Banking Account Fees and Charges (PDF 139kB)ANZ Personal Banking General Fees and Charges (PDF 155kB) and your letter of offer.

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Converting or renegotiating - We charge a fee for when you renegotiate or convert your ANZ home or residential investment loan or ANZ Equity Manager. The amount of this fee will be as follows:

$200 - If there is no change to the borrowers, the term or amount of the loan or the security provided in connection with the loan, and the repayments are not changing to interest-only repayments.

$350 - If there is a change to the borrowers, the term or amount of the loan or the security provided in connection with the loan, or the repayments are changing to interest-only repayments.

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Lenders Mortgage Insurance (LMI) is paid by the borrower and protects ANZ in the event that the borrower defaults and a shortfall arises following the sale of the security property. ANZ usually requires LMI where the Loan to Value Ratio (LVR) is above 80% (depending on the type of property).

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