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ANZ Simplicity PLUS

Get a competitive variable interest rate and pay no ANZ set up or ongoing feesdisclaimer on your home loan. ANZ Simplicity PLUS is our basic variable rate home loan that still gives you the ability to make extra repayments to pay it off sooner.

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Get 300,000 Qantas Points when you apply or switch to an eligible ANZ home loan

Take off to Rome, Honolulu or more dreamy destinationsdisclaimerwith 300,000 Qantas Points when you apply or switch to a new eligible ANZ home loan of $300k or more and LVR 80% or less.disclaimer

The best bit? Come home to discounted home loan rates on eligible loans from ( comparison rate).disclaimer

See where 300,000 Qantas Points could take you

Featured variable rates

feature-rates

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Interest ratedisclaimer

Comparison ratedisclaimer

Interest rate with special offer discountdisclaimer when borrowing 70% or less of the property valuedisclaimeron owner occupied home loan with principal and interest repayments.

What is a variable home loan?

A variable home loan means the interest rate that's applied to your home loan can change whenever your lender changes the rate. This means your minimum repayments decrease when interest rates go down, or increase when rates go up.

ANZ Simplicity PLUS is our basic variable home loan. It's a no frills loan that still gives you flexibility in how you manage your repayments.

what-is
  • Pay your loan off sooner

Other home loan options to consider

If you're looking for more features like an offset account to help save on interest (a fee of $10 per month applies), check out our ANZ Standard Variable home loan - our most flexible variable home loan with plenty of features to help suit your needs.

If you'd like more certainty in your home loan repayments, consider our ANZ Fixed Rate home loan. You could also split your loan into part variable, part fixed.

See our standard variable home loan

See our fixed rate home loan

Basic variable interest rates

Why choose a variable home loan?

  • No ongoing fees
    You won’t pay any ANZ set up or ongoing fees on your home loan.disclaimer
  • Discounted interest rate
    Get a discounted interest rate based on your Loan to Value Ratio (LVR). Higher discounts may apply if your LVR is 80% or less.
  • Pay your loan off sooner
    Make additional repayments whenever you can, with no fee.
  • Redraw funds if you need to
    Need to access some cash? If you've made additional repayments, you may be able to access these funds using ANZ Redraw.disclaimer
  • Draw down the loan progressively as you build
    If you're constructing a property, your loan can be drawn down over a period of up to 24 months.
  • Make interest only repaymentsdisclaimer
    You can apply to make interest only repayments for an agreed term (maximum 10 years for residential investment loans).disclaimer Making interest only repayments may suit you in some circumstances. 

Freedom from ongoing home loan fees

Fee freedom. Sounds good, doesn't it?

With our new simpler home loan fee structure you'll only pay for the features you choose to use, and you won't be charged any ANZ set up or ongoing fees.disclaimer

Here are all the fees you won’t be charged on your home loan, plus some facts and figures you should know.

The fees and charges shown are current and applicable for loans applied for on or from 19 March 2022. For further information, see ANZ Personal Banking General Fees and Charges (PDF 155kb).

Compare our variable home loans

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  Simplicity PLUS Standard Variable Rate

Interest ratedisclaimer

(Owner occupied, Principal and Interest repayments, LVR greater than 80%)

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Comparison ratedisclaimer
Link an ANZ One offset account No Yes
ANZ Redraw Yes Yes
ANZ set up or ongoing feesdisclaimer $0 $0
Minimum new loan amount $50,000 $20,000
Interest only paymentsdisclaimer for a home to live in No Yes, up to five years
Interest only paymentsdisclaimer for a residential investment property Yes, up to 10 years Yes, up to 10 years

Home loan calculators

Loan to Value Ratio Calculator

You can apply for a discounted interest rate based on your Loan to Value Ratio (LVR). Higher discounts may apply if your LVR is 80% or less.

Your LVR is the amount you're looking to borrow, divided by the value of the property you want to buydisclaimerand expressed as a percentage. For instance, if you're borrowing $400,000 to buy a $500,000 property, your LVR would be 80%.

   

Your home loan questions answered

Home loan interest rates can go up or down as the lending market changes. With a variable home loan, the interest rate you pay will change whenever your lender changes the rate.

 Your minimum repayment amount will go up if interest rates go up and go down if interest rates go down.

Find out more about fixed vs variable home loans.

 

   

Variable home loan interest rates will change whenever your lender changes the rate. This means your minimum repayment amount will go up or down depending on what the current interest rate applied by your lender is.

While variable home loans can make budgeting more challenging, and you should consider whether you can afford higher loan repayments if interest rates go up, variable home loans generally offer greater flexibility than fixed rate home loans.

With a variable home loan, you could make extra repayments to pay off your loan faster, choose your repayment frequency or make interest only repaymentsdisclaimerfor an agreed term (10 years maximum for residential investor loansdisclaimer). You could also be able to redrawdisclaimeryour extra repayments if you need to, or save on interest payable with an offset account.disclaimer

With a fixed home loan, making extra payments usually incurs a penalty. Find out more about fixed vs variable home loans.

 

Your loan repayments can be adjusted by ANZ accordingly. Do consider whether you can afford higher loan repayments if interest rates go up.

  

It’s not so much about whether a fixed or variable home loan is better than the other. Both offer different benefits, so it’s about which one is better for you, taking into account your particular circumstances, objectives and needs.

Fixed rate home loans provide more certainty because your interest rate and repayments are locked in for the duration. However, there can be less flexibility in making additional repayments, paying off the loan early and refinancing before the term is up.

On the other hand, variable rate home loans can provide the flexibility of making additional payments, redrawing when needed and paying off the loan early. However, variable rates go up and down, so there’s less certainty about your repayment amounts. Your minimum repayment amount will be lower when rates go down but it will also go up if rates increase, which can make budgeting more challenging.

If you can't decide between fixed and variable rates, you might want to consider splitting your loan. That way you can enjoy the benefits of both options. 

Learn more about the difference between variable and fixed home loans.

LVR stands for 'Loan to Value Ratio' and it's the amount you’re looking to borrow, calculated as a percentage of the value of the property you want to buy (as assessed by ANZ). For instance if you’re borrowing $400,000 to buy a $500,000 property, your LVR would be 80% (because $400,000 is 80% of $500,000).

LVR is important because it may affect your borrowing power. Generally, the lower the LVR the better, as it carries less risk for the lender. If your LVR is above 80% (that is, you're looking to borrow more than 80% of the value of the property you want to buy), you may need to pay Lenders Mortgage Insurance (LMI). This insurance protects the lender - ANZ, not you - if you default on your home loan and there’s a shortfall following the sale of the property. Generally speaking the higher your LVR, the more LMI will cost.

Learn more about ANZ LMI with our Key Fact Sheet (PDF 370kB) or read our article on Lenders Mortgage Insurance.

*Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

 

  

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.

  

A comparison rate is designed to help you work out the total cost of a home loan by building the known costs like up-front and ongoing fees into that rate. It doesn’t include things like government charges, redraw fees or fee waivers. 

You can use comparison rates to help you compare the cost of different home loans with similar features. When deciding which home loan is right for you, it’s important to think about what features each home loan offers, and how much these matter to you. Keep in mind that you may not necessarily pay the comparison rate that is advertised for your loan type.  This is because, for example, you may not pay all the fees and charges which the comparison rate includes.

  

If you choose interest only, the minimum payment amount on your loan will be lower during the interest only period because you are not required to repay any of the loan principal. You will have to repay the principal down the track and so you may end up paying more over the life of your loan. There may be additional restrictions on the amount you can borrow or loan type you can select if you choose to pay interest only.

Choosing to repay principal and interest means that, with each repayment, you're paying off interest charges as well as some of the loan principal.

Learn more about payment types.

  

Your Loan to Value Ratio (LVR) is the amount you’re looking to borrow, calculated as a percentage of the value of the property you want to buy*. For instance if you’re borrowing $400,000 to buy a $500,000 property, your LVR would be 80% (because $400,000 is 80% of $500,000).

The calculator will show your estimated LVR rounded up to one decimal point. For instance if your estimated LVR is calculated as 80.01%, it will be rounded up to 80.1%. Having an LVR of 80% or less (and for some loans 70% or less) means you could access some of ANZ’s higher discounts, and may be able to avoid paying Lenders Mortgage Insurance (which protects the lender if you default on your loan). Learn more about ANZ Lenders Mortgage Insurance with our Key Fact Sheet (PDF 370kB).

Generally, the lower your LVR the better. This is because from the lender’s perspective, a lower LVR carries less risk. Plus, a lower LVR means you’ll have more equity in your home from the start. Find out more about LVR and what it means for your home loan.

*Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

   

Connect with our home loan specialists or apply

Quick Start home loan application

Get started in just 5 minutes. Apply for pre-approvaldisclaimer, a new home loan or to refinance or top up your existing ANZ home loan.

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Monday - Friday
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You can also chat to an ANZ accredited broker for help with your home buying, investing or refinancing needs.

   

The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditionsProduct Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product. 

Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence number 234527.

The target market for these products can be found within the product’s Target Market Determination, available here.

Repayment Calculator

All applications for credit are subject to ANZ credit approval criteria. Product terms and conditions are available on application.

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, once the interest only period expires, the loan will revert to the applicable variable rate loan for the remainder of the loan term (unless another interest only period is taken). At the end of the interest only period, minimum repayment amounts may increase to cover principal and interest. Interest only loans are not for everyone and you should consider if this is the right strategy for you.

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

ANZ Home Loans are available for periods between of at least 1 year and up to 30 years in duration.

ANZ Home Loans are available for a minimum of $20,000 for new Standard Variable and new Fixed Rate loans and $50,000 for new Simplicity PLUS home loans. This calculator has been set to a maximum of $9,900,000 but you can apply for a higher amount.

Applications for credit are subject to ANZ credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.

The interest rate shown includes an interest rate discount from the index rate and applies to home loan applications or renewals submitted on and from 19 March 2022. For ANZ Standard Variable, this discount is  for loans with a Loan to Value Ratio (LVR) of greater than 80% and  for loans with a LVR 80% or less. For ANZ Fixed, this discount is  for loans with a LVR greater than 80% and  for loans with a LVR 80% or less. This interest rate discount is not available for eligible loans linked to an existing Breakfree Package. Eligible loans linked to the Breakfree Package will receive an interest rate discount under the Breakfree Package. To view rates that apply to loans linked to the ANZ Breakfree Package and for more information, see here.

* The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount. Rates are subject to change. Eligibility criteria apply to special offer discounts, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime.

LVR is the amount you're looking to borrow, calculated as a percentage of the value of the property you want to buy. Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

Borrowing power calculator

Applications for credit are subject to ANZ credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.

This estimate is based on the accuracy of the limited information provided. It is also based on a loan term of 30 years, payment type principal and interest 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. Rate includes a discount on the ANZ Standard Variable index rate. The estimate might be different if payment type is interest only or if a different interest rate discount applies. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application. All applications for credit are subject to ANZ credit approval criteria. ANZ does not store the information you provided to generate this document.

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.

Other home loan fees including Late Payment Fee, Lock Rate Fee, Early Repayment Cost (Fixed Rate Loans) and ANZ Equity Manager facility fee still apply. Loan security fees including Lodgement Fee, Production Fee, Settlement Fee and Search Fee still apply however will not be charged on establishment of a loan. Government fees and charges (including government search fees and stamp duty) may still apply.

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Examples are a guide only and subject to change. Equivalent value based on a sample of the Qantas Frequent Flyer Rewards that could be obtained by redeeming through the Qantas Frequent Flyer program and will vary depending on how and when points are redeemed. Classic Flight Rewards are available on Qantas, Jetstar and partner airlines. Classic Flight Reward seats are subject to capacity controls, availability is limited and some flights may not have any Classic Flight Rewards available. The Qantas Points, taxes, fees and carrier charges stated are accurate as at 5 May 2022 but may vary at the time of booking. Status Credits and Qantas Points will not be earned on Classic Flight Rewards. Visit Classic Flight Rewards for more information.

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Eligibility criteria, terms and conditions, fees and charges apply. This offer is only available if you apply between 10 June 2022 and 19 August 2022 and if approved, settle by 31 January 2023. Only one 300,000 Qantas Points offer can be claimed by any one person. Only the first person to successfully claim on joint loans will be awarded Qantas Points. Qantas Points credited within 60 days after valid claim form redeemed with ANZ following loan settlement. See full Terms & Conditions (PDF 124kB).

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The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount for loans with a Loan to Value Ratio of 70% or less. Rates are subject to change. Eligibility criteria apply to special offer discounts, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime.

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The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount. Rates are subject to change. Eligibility criteria apply to special offer discounts, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime.

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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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Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly payments, including any applicable interest rate discounts. 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.

For interest only variable loans, the comparison rates are based on an initial 5 year interest only term. For fixed rate interest only loans, the comparison rates are based on an initial interest only period equal in term to the fixed period.

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Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

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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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Index rate current as at  and subject to change. The index rate (or reference rate) does not include any interest rate discounts that may apply.

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Rates shown apply during the interest only period of your loan. Choose from 1-5 year interest only terms for owner occupied on an ANZ Standard Variable (Land Loan up to three years) and ANZ Fixed (Land Loan up to three years) and choose from 1-5, 7 and 10 year interest only terms for residential investments on an ANZ Standard Variable (Land Loan up to one year), ANZ Fixed (Land Loan up to one year) and ANZ Simplicity PLUS. If you choose to make interest only payments on ANZ Fixed, your fixed period and interest only period will be the same. After the interest only period, your rate will switch to the applicable variable rate for a principal and interest loan. At the end of the interest only period, minimum repayment amounts may increase to cover principal and interest. Interest only loans are not for everyone and you should consider if this is the right strategy for you.

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Interest only repayments are not available for new ANZ Simplicity PLUS Home Loan applications.

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The rate shown is the Simplicity PLUS Residential Investment Property Loan index less the applicable special offer discount. Rates are subject to change. Eligibility criteria apply to special offer discounts, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime. 

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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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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). For some property types, LMI might be required when LVR is less than 80%.

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The interest rate shown includes an interest rate discount from the index rate and applies to home loan applications or renewals submitted on and from 19 March 2022. For ANZ Standard Variable, this discount is  for loans with a Loan to Value Ratio (LVR) of greater than 80% and  for loans with a LVR 80% or less. For ANZ Fixed, this discount is  for loans with a LVR greater than 80% and  for loans with a LVR 80% or less. This interest rate discount is not available for eligible loans linked to an existing Breakfree Package. Eligible loans linked to the Breakfree Package will receive an interest rate discount under the Breakfree Package. To view rates that apply to loans linked to the ANZ Breakfree Package and for more information, see here.

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Estimated LVR is based on the limited information provided and is for illustrative purposes only. Estimated LVR is rounded up to one decimal place. For example, an estimated LVR of 80.01% will be rounded up to 80.1%. The value of the property (as assessed by ANZ) may differ from your estimate. It does not constitute a quote or an offer for credit. To apply for an ANZ home loan you must complete an application. All applications for credit are subject to ANZ's credit approval criteria.

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ANZ may provide pre-approval (also known as approval in principle or conditional approval) to eligible customers who apply for an ANZ home loan and complete an application form and satisfy any other applicable requirements. Pre-approval is an approval for a loan subject to conditions being met, including that security is satisfactory to ANZ. Australian Credit Licence Number 234527.

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Terms and Conditions, fees and charges apply. Refer to ANZ Personal Account Fees and Charges booklet (PDF 139kB).

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ANZ Mobile Lenders operate as an independently operated ANZ Mortgage Solutions franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527.

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