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ANZ Fixed Rate Home Loan

The ANZ Fixed home loan gives you the certainty of a fixed interest rate period, whether you're buying a home to live in or an investment property.
 

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What is a fixed rate home loan?

A fixed rate home loan is a loan where your interest rate and repayments stay the same during the agreed fixed period. Watch our video to learn more.

A fixed rate home loan means that while your loan is within the agreed fixed period, for example 2 years, your interest rate and repayments will remain the same. 

Most fixed loans are between 1-3 years but you may be able to get a longer one.

The main advantage of a fixed rate is certainty and control.

For instance, with a fixed rate loan, you can lock in your interest rate for a certain period, knowing that your repayments will not be impacted by any rate rise. The downside is, if there is an interest rate decrease, you’ll miss out on the rate reduction as your rate is fixed.

But because your interest rate is fixed, you'll know exactly how much your loan repayments will be during the fixed rate period - great for budgeting!

It’s important to know that if you make early or additional repayments or break the fixed term before it expires, you may have to pay an early repayment cost (PDF, 168KB).

Be careful and check with ANZ before doing this as the early repayment costs could be substantial.

After the fixed period expires, your loan will switch to a variable rate but if you want to refix your loan period, contact ANZ to see if you’re eligible.  

Why choose fixed interest rates when buying a house?

Easier budgeting

Because your interest rate is fixeddisclaimeryou'll know exactly how much your loan repayments will be during the fixed rate period. So you can budget accordingly.

You can choose to pay weekly, fortnightly or monthly.


Make interest only paymentsdisclaimer 

You can apply for a loan with interest only payments for an agreed term (5 years maximum for owner occupied and 10 years maximum for investment property.)disclaimerMaking interest only payments may suit you in some circumstances.


Lock in your rate 

The fixed rate is set on the day the loan is drawn down. If you want to lock in a rate prior to drawdown, you can pay a Lock Rate fee of $750 per $1 milliondisclaimerof lending to secure the interest rate for 90 days from when the fee is paid. Available for fixed rate loans with terms of 1-5 years.

Save interest with an offset account on one-year fixed rate loans

With an ANZ One offset account, you could offset the amount you owe on your one-year fixed rate home loan and you'll only be charged interest on the difference. 

Buying investment property

You could pay interest in advancedisclaimer

With an ANZ Fixed Residential Investment loan, if you pre-pay the following year's interest for your investment property, you may be able to structure your interest payments for tax purposes.

Invest some time in learning more

Our guide to buying investment property has more tips and tools to help you.

Learn more

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?

Fixed home loan interest rates

Owner occupied interest rate

 

Principal and interest

  disclaimer

Comparison ratedisclaimer

2 year fixed interest rate with discounted rate when borrowing 80% or less of the property valuedisclaimeron owner occupied home loan under the ANZ Breakfree package.disclaimer Annual fee $395.

   

Investment loan interest rate

 

Owner occupied rates

Principal and interest 

  disclaimer

Comparison ratedisclaimer

2 year fixed interest rate with discounted rate when borrowing 80% or less of the property valuedisclaimeron an ANZ Fixed Residential Investment Loan under the ANZ Breakfree package.disclaimer Annual fee $395.

   

The interest rate for your loan is the rate that applies on the day the loan is drawn down, not the time of application – so it can change. You could apply to lock in a fixed rate for 90 days on eligible loans (terms and conditions and fee of $750 per $1 million of lending apply).

Find the rate that applies to you

          See all rates

Fees and other important numbersdisclaimer

Rates and fees
Available fixed rate loan terms

1 - 5, 7, 10 years

Interest only: 1 - 5 years for owner occupier and 1 - 5, 7 and 10 years maximum for residential investment loans

Loan Approval Fee

$600

Loan Administration Charge

$10 per month

Renegotiation Feedisclaimer

$200 or $350 depending on change requested

Lock Rate fee per loan

$750 (per $1 million of lending)disclaimer

Rates and fees
Minimum loan amount

$20,000

Maximum loan amount

Subject to ANZ's credit assessment critieria

Maximum loan term

30 years

Early Repayment Costdisclaimer

Yes

Redraw fee

N/A

Lenders Mortgage Insurance (LMI)disclaimer

If LVR is more than 80%

What is LVR?

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

Fixed rate home loans have a fixed interest rate for a set period of time. That means the interest rate you pay on your home loan doesn’t change during that period.

Home loan interest rates can go up or down at different times, so fixing your home loan interest rate can provide greater certainty. If interest rates were to increase, you would continue to pay your lower fixed rate for the duration of the fixed period. However, if interest rates were to fall, you wouldn’t be able to benefit from the reduction during your fixed rate period.

The fixed interest rate that will apply to your loan is the rate which applies on the day your loan is drawn down. If there is a great fixed interest rate on offer at the time of your loan application and you’d like to secure that rate, talk to your lender about whether applying to lock in that rate is an option for you (a lock rate fee will apply).

   

The fixed interest rate for your loan is the rate that applies on the day the loan is drawn down (not at the time of application) so there’s a chance it could change during that period.  If you're keen to lock in an interest rate you can do so by paying a Lock Rate fee that will secure the interest rate as it applies on the date of payment for up to 90 days.

The Lock Rate fee of $750 applies per $1 million of lending.  This means a fee of $750 applies for any loan up to $1 million, then $1,500 for any loan amount between $1 million and $2 million. If you have more than one loan, the same rule will apply to each loan. Here are a few examples:

  • For a single loan of $400,000, the fee would be $750
  • For a single loan of $1,300,000 the fee would be $1,500
  • For two fixed loans of $1,300,000 and $400,000, the fee would be $2,250

Talk to your home loan specialist for more information.

   

Generally, you can choose how long you would like to fix your home loan interest rate. ANZ offers fixed home loan rates for one, two, three, four, five, seven and 10-year loan terms.

  

When your fixed rate term ends, a variable interest rate will then apply to your home loan and your repayment amount will change. If you don’t want to stay with the variable rate, you may be able to fix your rate again for another period (talk to your lender about whether that could be an option for you). 

  

The biggest advantage of a fixed interest rate is the certainty that your home loan repayments will stay the same throughout the fixed rate term. You won't have to worry about rate changes and how they could affect your repayments. This makes budgeting easier.

However, if you want to make additional repayments, pay off your loan early or refinance during the fixed rate period, you may need to pay Early repayment costs (PDF, 168KB). Be careful and check with ANZ before doing this as early repayment costs can be very large, and can change from day to day.

Fixed home loan rates could work for you if your priorities are certainty and stability. Just remember that the trade-off is flexibility and the benefit of interest rate reductions (if they occur during your fixed rate period).

   

Fixed home loan rates mean the interest rates on your home loan are locked in for a set period. Rate changes will not affect you and your repayments will remain the same during the fixed rate term. Fixed rate home loans provide certainty and stability. However, you may be charged costs if you change any of the terms of the loan, for example, make additional repayments above a permitted limit.

Variable home loan rates can change from time to time. This is great if interest rates go down but your budget would need to cover the possibility of rates going up as well. Variable rate home loans offer greater flexibility because you can make additional repayments and redraw, pay off your loan early or take advantage of an offset account.

As both fixed and variable rate loans have pros and cons, split loans are a way to get the best of both worlds. For example, you could split a $400,000 loan 50/50, with half in an ANZ Fixed Loan and the other half in an ANZ Standard Variable Loan

You can split your loan into whatever ratio of fixed and variable suits you.

  

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.

  

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. 

    

You may have to pay a break cost (also known as Early repayment costs (PDF, 168KB) if you pay off your fixed rate loan before it's full duration, switch to another loan before the end of the fixed term or make early or additional payments. This cost can be very large and can change from day to day.

  

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.

  

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.

  

Contact us or apply

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

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

   

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Working out how much to borrow when buying property

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Whether you’re in the market for your first home, next home, or an investment property, you’d probably like to know how much you could borrow. 

  

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Costs of buying a home

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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.

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.

Fixed Rate Home Loans aren’t for everyone and the rate may change at any time prior to the loan being settled. You can ask ANZ about options for locking in a fixed rate before settlement on eligible loans. A fee of $750 per $1 million of lending applies. Terms and Conditions available on application.

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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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Terms and Conditions, fees and charges apply please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).

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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 rate current as at  and subject to change. Rate incorporates a Breakfree discount applied to eligible home loans linked to the Breakfree package. ANZ Breakfree discounts and benefits apply only while the customer maintains the package and meets ongoing eligibility criteria.

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This Comparison Rate is for secured loans of $150,000 over 25 years based on monthly repayments, including minimum Breakfree discount.

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.

Fixed home loans aren’t for everyone and early repayment costs may apply if you repay your loan or switch to another one before the end of your fixed term or make early or additional repayments. Once the fixed rate period ends, the loan reverts to a variable rate loan and repayment amounts will change.

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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. ANZ Fixed Home Loan discounts when borrowing 80% or less of the property value are available for applications submitted from Monday 15 February 2021.

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Annual package fee currently $395 and subject to change. Eligibility criteria and terms and conditions apply, including a minimum total mortgage lending requirement of $150,000. See ANZ Breakfree Terms and Conditions for details. ANZ Breakfree package benefits only apply while you maintain the package and meet ongoing eligibility criteria. Terms and conditions and fees and charges apply to products and services taken out in connection with an ANZ Breakfree package.

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Rates shown apply during the fixed period of your loan. After the fixed period, your rate will switch to the applicable variable rate for a principal and interest loan.

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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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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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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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For ANZ Fixed Rate loans, you can make early or additional repayments up to a set available tolerance amount (the lesser of 5% of the loan amount at the start of the current fixed rate period or $5,000) each year of the fixed rate period, without triggering an Early Repayment Cost.  An Early Repayment Cost may be incurred if, during the fixed rate period, the available tolerance amount is exceeded, the loan is fully repaid or refinanced, or ANZ agrees to change the interest rate at your request. Please be aware that Early Repayment Costs can be very large. Terms and Conditions apply please refer to the ANZ Consumer Lending Terms and Conditions (PDF 296kB) and ANZ Fixed Rate Loans - What happens if you repay some or all of it early? (PDF 140kB). Alternatively please visit any ANZ branch or phone the Home Loan Hotline on 1800 035 500, 8:00am to 8:00pm (AEST), Monday to Friday.

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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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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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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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