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Your ANZ Breakfree package explained

  ANZ home and residential investment loans

  • Interest rate discounts on eligible loan accountsdisclaimer
  • Fee waivers on eligible loan accountsdisclaimer including Loan Approval Fee, Valuation Administration Fee, Renegotiation Fee and Loan Administration Charge 
  • No limit on the number of eligible home loans under the one package
  • Choice of variable or fixed home loan options

  ANZ everyday banking

  • Monthly account service fee waived on one eligible everyday account. Choose from ANZ Access Advantage or ANZ One offset account
  • Apply for an ANZ Assured overdraft facility of $500 or $1,000 on your ANZ Access Advantage or ANZ One offset account to help with temporary cash flow shortfalls

  ANZ credit cards

  • Annual account fee waived on one eligible ANZ credit carddisclaimer
  • Additional Cardholder Fee waiveddisclaimer

  ANZ insurance and advice benefits

  • Discount available on the first year's premium for ANZ Home, Landlord and Car Insurancedisclaimer
  • Discount available on premiums for ANZ Mortgage Protection Insurancedisclaimer
  • Up to $550 off the ANZ Financial Planning one-off Adviser Service Fee towards your personalised advicedisclaimer

An example of how you could save money with the ANZ Breakfree package

 

Benefit

First year savings

Ongoing annual savings p.a.

 interest rate discount on $250,000 ANZ Standard Variable Home Loan

$1,500

$1,500

Loan Approval Fee waived on your ANZ home loan

$600

N/A

Monthly Loan Administration Charge waived on your ANZ Standard Variable Home Loan

$60

$60

Monthly account service fee waived on one ANZ One offset account

$120

$120

Annual account fee waived on your ANZ Frequent Flyer Platinum credit card account

$240

$240

MINUS the annual ANZ Breakfree package fee

-$395

-$395

Your savings

$2,125

$1,525

The above assumes interest only repayments, minimum repayments are made as scheduled through the life of the loan and no additional repayments are made. In this example, the interest rate discount is applied to the ANZ Home Loan Interest Only Index, which is subject to change. Benefits shown in this example are current as at April 2017 and are subject to change.

Other information

Just one package fee, even if you have more than one loan

If you're planning to take out another home or residential investment loan with us, or even if you decide to split your existing loan, you won't have to pay another package fee. If you take out a new eligible loan with us, it can be covered under your existing ANZ Breakfree package, so you can benefit from the various fee waiversdisclaimer and interest discounts.

You could start saving on interest charges with an offset accountdisclaimer

With your ANZ Breakfree package, you get a monthly account service fee waived on one eligible everyday account. If you choose an ANZ One offset account, the money you have in this account could offset the amount you owe on your home loan, and you'll only be charged the interest on the difference.

Want to earn rewards for eligible credit card purchases?

Your ANZ Breakfree package includes one eligible ANZ credit card with annual account fee waived. If you'd like to be rewarded for eligible purchases, consider:

  • an ANZ Rewards credit card to earn Reward Pointsdisclaimer on eligible purchases and have the flexibility to redeem for a wide range of rewards including gift cards, merchandise and cashbackdisclaimer, or;
  • an ANZ Frequent Flyer credit card to earn Qantas Pointsdisclaimer when you make eligible purchases, automatically transferred to your Qantas Frequent Flyer account every month.

Give your insurance coverage a health check

When's the last time you reviewed whether you, your loved ones and your possessions had enough protection? Consider taking a look at what insurance you already have — through your super, credit cards and other policies. Once you know where you’re at, you can decide whether it’s enough, and whether it delivers value for money. Remember that you're entitled to discounts on your premiums for ANZ Home, Landlord and Car Insurancedisclaimer, as well as ANZ Mortgage Protection Insurancedisclaimer.

Need some financial advice?

Already planning on your next investment? Don't forget you'll get up to $550 off the ANZ Financial Planning one-off Adviser Service Fee towards your personalised advicedisclaimer. So go ahead and make an appointment for your no-obligation consultation with an ANZ Financial Planner.

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%. 

   Should I get an offset account?disclaimer

If you have money in an everyday banking account, you may choose to move it into an ANZ One offset account. You can link it to your ANZ Standard Variable loan or one-year ANZ Fixed loan to help you save on interest charges. The money you have in ANZ One will offset the amount you owe on your home loan, and you’ll only be charged interest on the difference.

   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. 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 you're actually paying off the total loan amount over the period of the loan, not just the interest charges. Learn more about repayment types

   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.

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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. ANZ recommends you read the Terms and Conditions and Product Disclosure Statement, which are available at anz.com or by calling 13 13 14, before deciding whether to acquire, or continue to hold, the product.

Interest rate discounts apply to eligible loan accounts linked to the Breakfree package which meet minimum lending requirements (total mortgage lending must be at least $150,000) and apply while you hold a package and meet ongoing eligibility criteria. Annual package fee $395 and subject to change.

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Fees are waived on eligible loan accounts linked to the Breakfree package where those fees become due on or after those loans become part of your Breakfree package. Other fees and charges may apply in relation to your nominated loan accounts, including in respect of a renegotiation. Please refer to the ANZ Personal Banking General Fees & Charges booklet (PDF 156kB).

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The Annual Account Fee is waived on one eligible ANZ credit card account held under an ANZ Breakfree Package. The waiver only applies while the account is held under the package. A Rewards Program Services Fee of $55 per cardholder may apply to ANZ Rewards and ANZ Frequent Flyer accounts.

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ANZ Home Insurance, ANZ Landlord Insurance and ANZ Car Insurance are issued by QBE Insurance (Australia) Limited (QBE) ABN 78 003 191 035 (AFSL 239545). ANZ Mortgage Protection Insurance is jointly issued by OnePath Life Limited (ABN 33 009 657 176) and QBE. This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs.  You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. ANZ recommends that you read  ANZ Financial Services Guide (PDF, 104kB) and the relevant ANZ Home insurance Product Disclosure Statement and Policy (PDF 936kB)ANZ Landlord Insurance Product Disclosure Statement and Policy (PDF 736kB)ANZ Car Insurance Product Disclosure Statement and Policy (PDF 656kB) and ANZ Mortgage Protection Insurance Product Disclosure Statement and Policy (PDF 307kB), available by calling 13 16 14 or visiting anz.com before deciding whether to acquire, or to continue to hold, any of these products. To be entitled to a discount on your insurance you must notify the issuers of these products at the time of application that you are an ANZ Breakfree package customer. Please note for ANZ Home Insurance, ANZ Landlord Insurance and ANZ Car Insurance the discount is only applicable to the first year’s premium. Reference to insurance premium amounts for the purposes of calculating the applicable Breakfree package benefits exclude any stamp duty, GST and other government fees, charges or levies components that are included in the total premium amount paid by you. These discounts are not available in conjunction with any other discount offer made by issuers of these products or ANZ.

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The discount applies upon you notifying your ANZ Financial Planner that you are an ANZ Breakfree package customer. ANZ Financial Planning will provide one discount per ANZ Breakfree package of up to $550 (inclusive of GST) off the One-Off Adviser Service Fee (ASF). Where the ASF is less than $550 (inclusive of GST), the discount will equal this lesser amount. This Offer may not be used in conjunction with other ANZ Financial Planning offers. ANZ Financial Planners are representatives of Australia and New Zealand Banking Group Limited ABN 11 005 357 522, the holder of an Australian Financial Services Licence.

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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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Reward Points accrue in accordance with the ANZ Rewards – Rewards Program Terms and Conditions booklet (PDF 87kB) (please call 13 13 14 for a copy). Purchases which are not eligible to earn Rewards Points are described in the ANZ Rewards – Rewards Program Terms and Conditions booklet (PDF 87kB), e.g. fees, cash, cash equivalent transactions, balance transfers and transactions for gambling or gaming purposes will not earn Reward Points.

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When you redeem your Reward Points for ANZ Cashback, credit of a nominated value will be allocated to your ANZ Rewards, ANZ Rewards Platinum, ANZ Rewards Travel Adventures or ANZ Rewards Black account within 5 business days.

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Qantas Points and Bonus Qantas Points accrue in accordance with and subject to the ANZ Frequent Flyer Reward Terms and Conditions booklet (please call 13 13 14 for a copy). Purchases which are not eligible to earn Points are described in the ANZ Frequent Flyer Reward Terms and Conditions booklet, e.g. fees, cash, cash equivalent transactions, balance transfers and transactions for gambling or gaming purposes, will not earn Points. Account Holder must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. A joining fee may apply. Membership of the Qantas Frequent Flyer program is subject to the Terms and Conditions of the Qantas Frequent Flyer program. Earn rates and earn rate bands are subject to change. Existing customers should call 13 13 14 for information regarding their account.

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