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ANZ Simplicity PLUS

If you want a competitive variable rate loan and you only need basic features, consider ANZ Simplicity PLUS. It's a simple loan with no monthly fee that still gives you the flexibility to make extra repayments to pay it off sooner.

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Get your application started in 5 minutes

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Keep it simple with no ongoing fees

Make extra repayments to pay off your loan faster

No extra fees for making additional repayments whenever you can.

Choose how you make repayments

Pick a loan term from 1 to 30 years, and repay weekly, fortnightly or monthly.

Redrawdisclaimeryour extra repayments if you need to

If you've made additional repayments, you could be able to access these funds using ANZ Redraw.

More benefits

Draw down the loan progressively as you builddisclaimer

If you're constructing a property, your loan can be drawn down over a period of up to 24 months. (Fees and charges apply.)

Make interest only payments - residential investment loans onlydisclaimer

You can apply for a Simplicity PLUS Residential Investment loan with interest only payments for an agreed term (10 years maximum). Making interest only payments 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.

Learn more about payment types

Can't decide between variable and fixed?

Some customers choose to split their home loan between the two: 50-50, 60-40 or some other ratio, it's up to you.

What's a split loan?

Find the rate that applies to you

          See all rates

Fees and other important numbersdisclaimer

Rates and fees
Loan Approval Fee

$600
Loan Administration Charge

$0 per month
Renegotiation Feedisclaimer

$200 or $350 depending on change requested
Minimum loan amount

$50,000
Rates and fees
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?

Comparing ANZ Simplicity PLUS and ANZ Standard Variable featuresdisclaimer

 
  ANZ Simplicity PLUS ANZ Standard Variable
Available with ANZ Breakfree package No Yes
Link it to an ANZ One offset account No Yes
Minimum loan amount $50,000 $20,000
Loan Approval Fee $600 $600 (waived on ANZ Breakfree)
Renegotiation Fee $200 or $350 depending on change requested $200 or $350 depending on change requested (waived on ANZ Breakfree)
Loan Administration Charge $0 per month $5 per month

(waived on ANZ Breakfree; annual ANZ Breakfree package fee applies)
Interest Only Paymentsdisclaimer A home to live in - not available. Residential investment property - up to 10 years. A home to live in - up to 5 years. Residential investment property - up to 10 years.


Need a bit more detail on our home loans?

Our home loans comparison tool can help you compare interest rates, loan terms, fees and features.

Compare home loans

Home loan calculators

How much could I borrow?

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

What could my repayments be?

Get an estimate of your potential loan repayments

Got a number? Apply for pre-approvaldisclaimer

Budget, bid and buy with more confidence.

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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 (5 years maximum for owner occupied and 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.

  

Which is better - fixed or variable home loan? 

 

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 and redrawing when needed, using an offset account 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. 

  

What are LMI and LVR?

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.

  

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.

  

What is a comparison rate?

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.

  

Connect with our Home Loan Specialists

Quick Start Home Loan Application

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

Apply online now

   

Request a call back

Leave your details 

   

Connect with a mobile lender disclaimer

Find a mobile lender

  

Visit a branch or ANZ Home Centre

Find your nearest location

  

Call us

1800 100 641

Monday - Friday
8am to 8pm (AEST)

   

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

   

You might also be interested in

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There are some simple strategies that could reduce your loan period and save you thousands of dollars in interest.

  

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Redraw facilities: the what, why and how

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Redraw lets you access extra principal repayments you’ve made on your loan. This could come in handy if you need some extra cash down the track. 

  

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Property settlement: what is it and how does it work?

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If buying a new home were a marathon, settlement would be the finish line. But there’s a little more to it than simply handing over the cash and picking up the keys.

  

Important information

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 conditions, Product 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.

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 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, 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 rate 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.

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.

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

Borrowing power calculator

Applications for credit are subject to ANZ’s 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. The estimate might be different if payment type is interest only. 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's normal 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.

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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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 a Breakfree package discount (if applicable). 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.

The repayment calculator does not show all interest rates. Our home loan interest rates page shows all available rates, including special offers and discounts when borrowing 80% or less of the property value.

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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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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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When we approve an application by you to renegotiate or convert your loan/facility, we may charge either a Renegotiation Fee or a further Loan Approval Fee / Facility Approval Fee. The Renegotiation Fee is $200, except in the cases below, where it is $350.

  • There is a change to the borrowers or guarantors, the term or amount of the loan/facility or the security provided for the loan/facility.
  • Payments are changing to interest-only payments, an interest only period is being extended or there is a change from interest in arrears to interest in advance or vice versa.
  • Two or more loans are being combined into a single loan.
  • A loan is converted to a facility or vice versa.
  • A Lenders Mortgage Insurance premium would become payable as a result of the change.
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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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Comparison between ANZ Simplicity PLUS and ANZ Standard Variable is based on loans with principal and interest repayment type. Different interest rates apply for interest only loans. Interest only payment is currently unavailable on new ANZ Simplicity PLUS home loans (for a home to live in).

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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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Subject to ANZ's credit assessment criteria.

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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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