Auswide Bank Ltd Home Loans: The 2026 Review

Auswide Bank Ltd was established in 1966 as a building society, originally known as Wide Bay Australia. The bank has undergone significant transformations, including a rebranding in 2015 to Auswide Bank, reflecting its expanded geographic reach and diversified service offerings. A key milestone was its merger with Queensland Professional Credit Union in 2015, and it is set to become a wholly owned subsidiary of MyState Limited in 2024.

Today, Auswide Bank is an independent major bank headquartered in Bundaberg and Brisbane, Queensland. It competes in the banking sector by positioning itself as a customer-focused alternative to the Big 4 banks. The bank offers a mix of traditional branch services and robust online banking, catering to a wide range of customer needs with its award-winning home loans and flexible financial products.

Auswide Bank targets homebuyers seeking flexible and affordable loan options, offering features like offset accounts and redraw facilities. It participates in the Home Guarantee Scheme to support eligible buyers. The bank is known for its personalised service and competitive rates, making it a strong option for borrowers in regional areas, despite a limited branch presence in some locations.

• Legal Name: Auswide Bank Ltd
• ABN: 89067729195
• ACN: 067729195
• Established: 1966
• Headquarters: Bundaberg and Brisbane, Queensland, Australia
• Type: major_bank
• Ownership: Independent

• Website: https://auswidebank.com.au
• Phone: 1300 138 831
• Address: Bundaberg and Brisbane, Queensland

Auswide Bank Ltd offers a range of flexible home loan features designed to enhance financial management and convenience for borrowers. With options like offset accounts and redraw facilities, Auswide Bank provides tools for effective budgeting and cost savings.

• Redraw Facility: The redraw facility allows borrowers to access extra repayments made on their loan, providing financial flexibility. This feature can be especially useful for managing unexpected expenses without taking out additional loans.
• Offset Account: An optional 100% offset account is available, helping borrowers reduce interest costs by offsetting the loan balance with savings. This feature can lead to significant interest savings over the life of the loan.
• NPP PayID Target: Auswide Bank loans can be used as the target for an NPP PayID, facilitating fast and convenient payments. This feature enhances the ease of managing loan repayments through seamless digital transactions.
• Extra Repayments: Borrowers can make extra repayments without incurring fees, including for Buy Now Pay Later (BNPL) or line of credit products. This flexibility allows for faster loan payoff and reduced interest costs.
• Automatic Budgeting and Bill Payment: Loans can be linked to an automatic budgeting and bill payment service, streamlining financial management. This feature helps borrowers stay organised and ensures timely payments, reducing the risk of late fees.
• BSB/Number Based NPP Payments: Funds can be received via BSB/Number based NPP payments, offering a secure and efficient method for managing loan transactions. This feature supports quick and reliable fund transfers.
• Flexible Repayment Options: Auswide Bank offers flexible repayment options, including various payment frequencies and interest-only periods. These options allow borrowers to tailor their repayment schedule to suit their financial situation.
• Digital Banking Services: The bank provides comprehensive digital banking services, including internet banking, a mobile app, and digital wallet integration. These tools enhance accessibility and convenience for managing loans online.

Auswide Bank Ltd offers a transparent fee structure, providing borrowers with clear details on costs associated with their home loans. Fees vary across products, with specific waivers and conditions applicable to certain packages.

• Establishment Fee - Basic Home Loan: $300 - Covers costs associated with establishing your loan.
• Valuation Fee - New Loans & Loan Increases: Variable - Initial Valuation Fee included in Establishment Fee up to $300 per application. Subsequent fees included in Package Fee up to $300.
• Document Preparation Costs and Third Party Costs: Variable - Charged at cost for external solicitors to prepare mortgage documents, including Government charges.
• Settlement Fee: $100 - Payable when processing the settlement of your loan. Waived for Freedom Package loans.
• Mortgage Release Fee: $400 - Payable per mortgage when releasing a security from your loan. Additional third party costs may apply.
• Redraw Fee: $20 - Charged for manual processing of redraw requests in branch. Excludes online redraws.
• Establishment Fee - Home Loan Plus: $600 - Covers costs associated with establishing your loan. Waived for Freedom Package loans.
• Account Service Fee - Home Loan Plus: $10 (Monthly) - Charged for managing your account. Waived for Freedom Package loans.

Auswide Bank Ltd provides home loans to a diverse range of borrowers, focusing on flexibility and accessibility through competitive rates and digital services.

• Applicants must be at least 18 years old.
• Applicants must be under 75 years old.
• Applicants must be natural persons, not legal entities.
• Applicants must be Australian citizens or permanent residents.
• Applicants must demonstrate a stable income and ability to repay the loan.
• A satisfactory credit history is required for all applicants.
• The property must be located within Australia and meet Auswide Bank's security requirements.
• Loan-to-Value Ratio (LVR) should be within the limits specified for the product, typically up to 95% with conditions.

• Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
• Auswide Bank participates in the Home Guarantee Scheme, assisting eligible first home buyers.
• Guarantor options may be available for some products, allowing for lower deposit requirements.