Australian Mutual Bank LTD Home Loans: The 2026 Review

Australian Mutual Bank Ltd, based in Surry Hills, Sydney, is a customer-owned financial institution that operates independently of the Big 4 banks. While the exact year of its establishment is not specified, the bank has achieved notable recognition in the financial sector. This includes winning six home loan award categories in the 2025 Mozo Experts Choice Awards, highlighting its commitment to delivering competitive and customer-friendly financial products.

Today, Australian Mutual Bank positions itself as a leader in ethical banking, with a strong focus on community ownership. Its business model is centred around providing ethical and customer-centric financial solutions, distinguishing itself from traditional banks. The bank offers a range of products and services through both branches and online platforms, catering to a diverse clientele.

Australian Mutual Bank targets first home buyers and customers seeking ethical banking solutions. It offers unique features such as family support for borrowers with no deposit, allowing entry into the property market without traditional financial barriers. With competitive interest rates and no annual or monthly fees on certain products, the bank appeals to cost-conscious consumers across Australia.

• Legal Name: Australian Mutual Bank LTD
• ABN: 93087650726
• Headquarters: Surry Hills, Sydney, NSW
• Type: LTD
• Ownership: Independent

• Website: https://australianmutual.bank
• Phone: 13 61 91

Australian Mutual Bank LTD offers flexible home loan solutions with a focus on ethical banking and community ownership, providing unique support for first home buyers and competitive interest rates.

• Offset Account: A 100% offset account is linked to your loan, allowing you to reduce the interest on your outstanding balance. This feature helps borrowers save money over the life of the loan by offsetting the loan balance with savings.
• Redraw Facility: Borrowers can access additional repayments made on their loan, provided they are at least one month's repayment in advance. This offers flexibility and access to funds when needed without additional fees.
• Additional Repayments: Australian Mutual Bank allows additional repayments up to $20,000 during fixed periods, enabling borrowers to pay off their loans faster and reduce interest costs.
• Family Security Option: First home buyers can secure a loan without a deposit if a family member provides security. This feature is beneficial for those entering the property market, removing traditional financial barriers.
• Online Banking: Members can check accounts and transact online 24/7, providing convenience and ease of managing finances from anywhere at any time.
• No Annual Fees: Select products come with no annual or monthly fees, reducing the overall cost of the loan and making it more affordable for borrowers.
• Split Loan Options: Borrowers can choose split loan options, combining fixed and variable rates. This offers flexibility to manage interest rate risks and tailor repayments to suit financial situations.
• Loan to Value Ratio (LVR): Loans are available to new borrowers with an LVR below 90%, requiring a minimum borrowing amount of $50,000. This condition is suitable for both new and existing members looking to borrow again.

Australian Mutual Bank LTD provides a transparent fee structure, offering borrowers clarity on costs associated with their home loans. The bank emphasises ethical banking, with competitive fees and supportive features for first home buyers.

• Loan Establishment Fee: $250 - Charged for setting up the mortgage loan.
• Certificate of Title Production: $50 - Fee for producing the certificate of title during the loan process.
• Mortgage Discharge Processing Fee: $180 - Applies when a mortgage is discharged or paid off.
• Consent for Second Mortgage: $200 - Charged when obtaining consent for a second mortgage.
• Switching Fee: $300 - Applies when switching an Australian Mutual Bank home loan to another type, except at the end of a fixed rate period.
• Rate Lock Fee: Variable - Optional fee for securing a fixed interest rate before settlement.
• Fixed Rate Loan Break Fee: Variable - Applies if a fixed rate loan is terminated early.

Australian Mutual Bank LTD offers home loans to Australian citizens and permanent residents, focusing on ethical banking and community ownership.

• Must be at least 18 years old to apply.
• Must be an Australian citizen or permanent resident.
• Applications are subject to approval within AMBL credit policy.
• Must have a beneficial interest in the loan.
• Must become a member if the loan is approved.
• Maximum Loan to Value Ratio (LVR) is 95% with lender's mortgage insurance.
• Land-only loans have a maximum LVR of 70%.
• First home buyers may qualify for a loan with no deposit through the family support program.

• Lender's Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
• First home buyers can benefit from a family support program, allowing for no deposit loans.
• A fixed rate loan break fee applies if the loan is terminated early.