What is the discharge process like with Bank of China?

The discharge process can take up to 3 weeks, so make sure to account for this time if you're planning to switch lenders or pay off your loan.

I'm considering refinancing with Bank of China. What should I know?

Refinancing with Bank of China can take up to 3 months. They offer a $3200 cashback for a 5.88% interest rate, which might be beneficial depending on your current rate.

What are the monthly repayments for a $500,000 loan at Bank of China?

For a $500,000 loan at a 5.93% interest rate over 30 years, the monthly repayment would be $2,975, with a total interest of $571,104.

How much can I save by refinancing my $1,000,000 loan with Bank of China?

Refinancing a $1,000,000 loan could save you $370 per month, totaling $133,238 over 30 years.

What are the fees associated with a Bank of China home loan?

Bank of China charges a high annual fee of $395, which is important to consider when calculating your overall loan costs.

Are there any benefits to having a strong deposit with Bank of China?

Yes, Bank of China offers competitive interest rates for borrowers with a strong deposit, which can lead to significant savings over the life of the loan.

Why do some customers complain about the application process at Bank of China?

Some customers have noted concerns about the customer experience during the application process, which can be lengthy and complex.

How does Bank of China compare in terms of interest rates for Australian borrowers?

Bank of China provides competitive home loan options, especially for Australian borrowers with a strong deposit, which can result in lower monthly payments.

What should I expect if I want to refinance with Bank of China?

Expect the refinancing process to take up to 3 months. It's a good idea to compare the offered cashback and interest rate to your current loan terms.

UPDATED JUL 7, 2026

Bank of China Home Loans: The 2026 Review

Competitive rates for strong deposit holders with no account fees. Beware the $395 annual fee. Ready to explore flexible options for your home loan needs?

Bheja Verdict

Good

3.8/5

✓

Competitive interest rates

✓

Wide range of loan options

Check Eligibility

Bank of China Home Loans At a Glance

🏷️Best Rate Available

5.93%

Variable • Owner Occupied

💳Application Fee

$350

Upfront fee applies

📅Monthly Fee

Ongoing service fee

Loan Range:$1 - $100.0M

LVR:Up to 90%

Products:38 variations

Offset Account:Available

Current Bank of China Home Loan Rates

Last updated: July 2026

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Average Rate: 7.13%
Best Rate: 5.93%
Monthly Payment: $2,975

Advanced

Sort By

Discount Home Loan (With Principal and Interest Repayment)
Bank of China
Min 20% DepositRedraw
5.93%
Interest Rate
Variable
6.13%
Comparison Rate*
$2,975
per month
Principal And Interest
Check Eligibility
Discount Plus Home Loan (with Principal and Interest Repayment)
Bank of China
Min 20% DepositOffsetRedraw
5.93%
Interest Rate
Variable
6.31%
Comparison Rate*
$2,975
per month
Principal And Interest
Check Eligibility
Discount Home Loan (With Principal and Interest Repayment)
Bank of China
10%-20% DepositRedraw
7.69%
Interest Rate
Variable
7.88%
Comparison Rate*
$3,561
per month
Principal And Interest
Check Eligibility
Discount Plus Home Loan (with Principal and Interest Repayment)
Bank of China
10%-20% DepositOffsetRedraw
7.69%
Interest Rate
Variable
8.05%
Comparison Rate*
$3,561
per month
Principal And Interest
Check Eligibility
Standard Variable Rate Home Loan
Bank of China
Min 10% DepositRedraw
8.39%
Interest Rate
Variable
8.46%
Comparison Rate*
$3,806
per month
Principal And Interest
Check Eligibility
Fees:
Application $350

Bank of China Product Statistics

Real-time insights and market analysis

Bank of China offers 14 home loan products across 38 variations, the average variable rate is 7.19% p.a., the best available rate is 5.93% p.a..

Average Variable Rate

7.19%

18 products

Average Fixed Rate

6.56%

20 products

Best Available Rate

5.93%

Variable • Owner Occupied • P&I

Total Products

38 variations

Fee Summary

Application Fee

$350

Monthly Fee

Discharge Fee

Late Payment Fee

Key Features

Across Bank of China's range: 8 include an offset account, 38 offer redraw, 38 allow extra repayments.

Offset Account

21%

Redraw Facility

100%

Extra Repayments

100%

Split Loan

—

Product Ranges

Bank of China's interest rates range from 5.93% to 8.70% p.a., maximum LVR from 80% to 90%, loan amounts span $1 to $100,000,000.

Interest Rates5.93% — 8.70%

Max LVR80% — 90%

Loan Amount$1 — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Bank of China Compares

FEATURE	Bank of China	Rabobank	HSBC	ING BANK (Australia) Ltd	Arab Bank Australia Limited
Best Variable Rate	5.93%BEST	—	5.99%	5.99%	6.15%
Best Fixed Rate (3yr)	6.39%	—	6.34%	6.39%	7.30%
Application Fee	$350	$0	$600	$0	$600
Monthly Admin Fee	$0BEST	$0	$0	$0	$8
Offset Account		—
Redraw Facility		—
Product Variations	38	0	142	101	23

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Bheja Insight: Bank of China currently leads with the lowest variable rate among international banks, making it a strong choice for borrowers seeking flexibility.

About Bank of China

Company overview and contact information

Bank of China, a state-owned enterprise headquartered in Beijing, is a prominent international bank with a strong presence in the global financial market. Holding an Australian Financial Services License (AFSL 230547), it operates through a combination of physical branches and online platforms, offering a wide range of financial services to its customers worldwide.

In the home loan sector, Bank of China provides 14 distinct products with 38 variations, featuring interest rates ranging from 5.93% to 8.70%. These loans are particularly attractive to borrowers with substantial deposits, as they can benefit from competitive rates. The bank is known for its flexible transaction access and absence of account keeping fees, making it a popular choice for homebuyers seeking cost-effective solutions.

What sets Bank of China apart is its reputation for offering higher interest rates on eligible balances and its commitment to providing tailored financial solutions. With a focus on delivering value and flexibility, the bank continues to strengthen its position in the international banking landscape, catering to a diverse clientele with varied financial needs.

Company Details

Legal Name: Bank of China

ABN: 28110077622

ACN: 110077622

Headquarters: Beijing, China

Ownership: State-owned enterprise

AFSL: 230547

Key Features

Bank of China offers a range of home loan features designed to enhance financial flexibility and cost savings for Australian borrowers, including offset accounts and competitive interest rates.

Early Repayment

Bank of China allows early repayments of up to $10,000 per settlement anniversary without penalties. This feature helps borrowers reduce their loan balance faster, potentially saving on interest costs.

Online Banking Access

All Bank of China home loan products provide access to comprehensive online banking features. Borrowers can manage their loans conveniently, monitor balances, and make transactions securely from anywhere.

Redraw Facility

A redraw facility is available on select Bank of China home loans, enabling borrowers to access extra repayments they have made. This provides flexibility in managing unexpected expenses while maintaining control over their finances.

Extra Repayments

Bank of China allows extra repayments without fees on select products, including BNPL or line of credit options. This feature enables borrowers to pay off their loans faster and reduce interest costs over time.

Offset Account

Linking an offset account to your Bank of China home loan can significantly reduce interest payments. For example, a $100,000 offset could save borrowers approximately $494 per month.

No Account Keeping Fees

Bank of China home loans come with no account keeping fees, reducing the overall cost of managing the loan and providing savings over the loan term.

Flexible Transaction Access

Borrowers can enjoy flexible transaction access with Bank of China home loans, allowing them to manage their finances with ease and convenience.

Interest-Only Repayment Options

Select Bank of China home loans offer interest-only repayment periods, providing borrowers with lower initial payments and increased cash flow flexibility during the term.

Competitive Interest Rates

Bank of China offers competitive interest rates, especially for borrowers with strong deposits. This can lead to significant savings over the life of the loan.

Fees & Charges

Bank of China offers a range of home loan products with various fees, including upfront and ongoing charges. They provide fee waivers for eligible borrowers, enhancing transparency and affordability.

Fee Type

Amount

Description

Application Fee

$350

Charged when applying for a home loan.

Annual Fee

$190-$395/year

Recurring fee for maintaining the loan, varies by product.

Annual Fee Waiver

First-year annual fee waived for external refinanced or new purchase loans with direct debit setup.

Discharge Fee

Varies by product

Fee for processing the discharge of the loan, process can take up to 3 weeks.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Bank of China offers home loans to individuals who meet specific eligibility criteria, ensuring a broad range of financial needs are accommodated. With flexible loan amounts and competitive LVR options, they cater to both first-time buyers and seasoned investors.

Must be at least 18 years old.

Must be a natural person, not a legal entity.

Must provide valid identification documents.

Must be a resident or citizen of the country where the loan is applied.

Must have a stable income and employment history.

Must have a good credit history with no recent defaults.

Loan-to-Value Ratio (LVR) must be between 80% and 90%.

Loan amounts can range from $1 to $99,999,999.

Property must be located in an approved area as per Bank of China guidelines.

Important Notes

LVR above 80% may require additional conditions or fees.
Consult directly with the bank for specific documentation requirements.
No special programs or LMI waivers currently available.
Ensure property meets Bank of China's location and type criteria.

Bank of China Home Loan Pros & Cons

Our expert take on whether Bank of China is right for you

Pros

+Cashback offer of $2,888 for loans over $400,000
+Flexible repayment options including extra repayments without fees
+Redraw facility and offset account available

Cons

–Interest rates are above market average
–High annual fee of $395
–Customer experience concerns

Best For

Borrowers with strong deposits
Homeowners seeking cashback offers
Customers valuing flexible repayment options

Not Ideal For

Rate-sensitive borrowers
Those seeking low annual fees

💡

Bheja Verdict: Bank of China offers competitive home loan features but with above-market interest rates, making it ideal for borrowers with strong deposits seeking flexibility.

Expert Secrets (Why Use Us?)

Insider knowledge about Bank of China that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000.

2At 90% LVR for the same loan, LMI increases to $12,500.

3A $750,000 loan at 85% LVR incurs $9,000 in LMI costs.

4At 90% LVR, the LMI for a $750,000 loan is $18,750.

Fee Waivers

First-year annual fee waiver for external refinanced or new purchase eligible loans with direct debit setup.

Offset Benefits

A $10,000 offset saves $49/month ($588/year).

A $25,000 offset saves $124/month ($1,488/year).

A $50,000 offset saves $247/month ($2,964/year).

A $100,000 offset saves $494/month ($5,928/year).

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Initiate Discharge Request: Contact the Bank of China to initiate the loan discharge process. This can be done by calling their customer service at 1800 095 566. (Tip: Ensure you have your loan account details ready when you call.)

Complete Discharge Forms: Fill out the necessary discharge forms provided by the bank. These forms are essential for processing your discharge request. (Tip: Double-check all information for accuracy to prevent delays.)

Submit Required Documentation: Submit all required documents along with the completed forms. This may include identification and any other documents specified by the bank. (Tip: Keep copies of all documents submitted for your records.)

Await Processing: The bank will process your discharge request, which can take up to 3 weeks. During this time, they will verify all details and complete the necessary procedures. (Tip: Follow up with the bank if you do not receive confirmation within the expected timeframe.)

Receive Confirmation: Once the discharge is complete, you will receive confirmation from the bank. This indicates that your loan has been successfully discharged. (Tip: Verify that all loan obligations have been settled.)

Processing Times

Discharge ProcessUp to 3 weeks

💡

Pro Tips

Request the discharge at least 2 weeks before your intended settlement date to avoid delays.
Ensure all outstanding fees and charges are cleared before initiating the discharge process.
Contact the bank’s hotline for any questions to avoid miscommunication.
Keep track of all correspondence with the bank for future reference.
Consider negotiating any discharge fees if applicable.

Bank of China Mortgage Calculator

Estimate your repayments using current Bank of China home loan rates

Over 30 years, borrowing $480,000 at 5.93%, total cost including interest and known fees could be around $1,165,059. Estimated monthly repayment: $2,856.28.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,165,059

Estimated repayment

$2,856.28

monthly repayment

Amount you borrow: $480,000 · At 5.93% · Variable — can change with the market

Known fees in this estimate

Monthly fee: $380 / month
Total ongoing fees (30 yrs): $136,800

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $548,259
Upfront fees: $0
Ongoing fees: $136,800
Estimated total cost: $1,165,059

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Bank of China is right for you? Our brokers can help you compare options.

Frequently Asked Questions

The approval process for a home loan with Bank of China can take approximately 3 months, so it's important to plan ahead.