Adelaide Bank Home Loans: The 2026 Review

Adelaide Bank was established in 1994, evolving from the Co-operative Building Society of South Australia Limited, which was the largest building society in Australia at the time. A significant milestone in its history was the 2007 merger with Bendigo Bank, forming Bendigo and Adelaide Bank Limited. This merger positioned the bank within Australia's fifth-largest banking group, enhancing its reach while maintaining a strong community focus.

Today, Adelaide Bank operates as a subsidiary headquartered in Adelaide, South Australia. It is recognised as a competitive alternative to the Big 4 banks, offering a range of financial products and services. The bank distinguishes itself through community engagement and personalised customer service, appealing to homeowners and investors seeking competitive rates and unique loan features.

Adelaide Bank targets homeowners and investors across Australia, providing value through innovative product features. These include up to six 100% offset accounts per loan and the opportunity to earn Qantas Points, appealing to borrowers who value both financial benefits and rewards. Despite some limitations, such as a $15 monthly service fee on certain products, Adelaide Bank remains a compelling choice for those seeking a blend of value and rewards in their home loan products.

• Legal Name: Adelaide Bank
• Established: 1994
• Headquarters: Adelaide, South Australia
• Type: Subsidiary
• Ownership: Independent

• Website: https://www.bendigoadelaide.com.au

Adelaide Bank offers a range of home loan products with flexible features such as multiple offset accounts and competitive interest rates, providing borrowers with cost-saving opportunities and financial flexibility.

• 100% Offset Accounts: Adelaide Bank provides up to six 100% offset accounts per loan, applicable to both variable and fixed rate loans. This feature allows borrowers to reduce interest payments by offsetting their loan balance against their savings, enhancing financial flexibility and potential savings.
• Redraw Facility: Borrowers can access both manual and online redraw facilities, offering the convenience to withdraw extra repayments when needed. This flexibility helps manage unexpected expenses without disrupting the loan structure.
• Additional Repayments: For variable rate loans, unlimited additional repayments can be made without penalty. Fixed rate loans allow extra repayments up to $20,000 per annum, enabling borrowers to pay down their loan faster and save on interest.
• Monthly Repayments: Adelaide Bank requires monthly repayments, providing borrowers with a predictable and manageable repayment schedule. This consistency aids in budgeting and financial planning.
• No Application Fee for Large Loans: For loans over $500,000, Adelaide Bank waives the application fee, making it an attractive option for borrowers seeking larger loan amounts and reducing upfront costs.
• Qantas Points Rewards: Eligible loans can earn up to 100,000 Qantas Points annually, appealing to frequent flyers. This feature adds value by offering travel rewards alongside traditional financial benefits.
• Competitive Interest Rates: With interest rates ranging from 5.19% to 7.18%, Adelaide Bank offers competitive options for borrowers, helping to minimise the cost of borrowing and enhance affordability.
• $15 Monthly Service Fee: Some products include a $15 monthly service fee, which borrowers should consider when evaluating overall loan costs. This fee is important to factor into the total cost of the loan.

Adelaide Bank provides a transparent fee structure with various charges that borrowers should consider when evaluating home loan options. The bank offers competitive features, but borrowers should be aware of specific fees that may apply depending on the loan product chosen.

• Application Fee: $345 - Charged for processing the loan application. Waived for loans over $500,000.
• Security Processing Fee: $0 - No charge for processing security documentation.
• Settlement Service Fee: $345.4 - Covers the cost of settling the loan.
• Monthly Service Fee: $15 (Monthly) - Applies to some loan products for account maintenance.
• Discharge Administration Fee: $350 - Charged when the loan is fully repaid and the mortgage is discharged.
• Break Cost Fee: Variable - Applies when breaking a fixed rate contract due to changes in repayment terms or additional repayments exceeding $20,000 annually.
• Default Fee: $35 - Charged if a scheduled repayment is missed.
• Variation Fee: $250 - Applies when making changes to the loan terms.
• Duplicate Fee: $16.5 - Charged for providing duplicate statements or documents.

Adelaide Bank offers home loans to a diverse range of borrowers, focusing on competitive rates and unique product features like multiple offset accounts and Qantas Points rewards.

• Applicants must be at least 18 years old.
• Applicants must be Australian citizens or permanent residents.
• Applicants must meet Adelaide Bank's credit and lending criteria, including a satisfactory credit history.
• Proof of stable income and employment is required to demonstrate the ability to repay the loan.
• Loan-to-Value Ratio (LVR) can be up to 95% on some products, with Lenders Mortgage Insurance (LMI) required above 80% LVR.
• A minimum deposit of 5% may be accepted with a guarantor on certain products.
• Fees and charges apply, including a potential $15 monthly service fee on some products.
• Restrictions on extra repayments for fixed rate loans, capped at $20,000 per year without penalty.

• LMI is required for loans with an LVR above 80%.
• Some products allow a 5% deposit with a guarantor, offering flexibility for first home buyers.
• Borrowers can earn up to 100,000 Qantas Points annually on eligible loans, providing additional value.