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ANZ Fixed Rates 1-3 Years P&I 2.09%P.a. Comparison (1yr - 4.13%P.a. 2yr - 3.98%P.a. 3yr - 3.84% P.a.) + Cashback for Refinance

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ANZ Fixed Rates 1-3 Years P&I 2.09%P.a. Comparison (1yr - 4.13%P.a. 2yr - 3.98%P.a. 3yr - 3.84% P.a.) + Cashback for Refinance
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Employeehazachoom on 05/11/2020 - 09:05 anz.com.au (160 clicks)
Last edited 18/02/2021 - 14:30 by 1 other user

Looking at refinancing your loan with a LOW fixed rate? Want to get some extra cash in your pocket

ANZ is offering some NEW LOW Fixed Rate loans with Break Free Package ($395 annual fee):

Term Principal and Interest P&I - Comparison Rate
1 year 2.09% p.a. 4.13% p.a.
2 years 2.09% p.a. 3.98% p.a.
3 years 2.09% p.a. 3.84% p.a.
4 years 2.29% p.a. 3.77% p.a.
5 years 2.29% p.a. 3.67% p.a.

Simplicity Plus Variable Loan (No Annual or Package Fee):

Special Offer Variable Rate (LVR >80%) 2.98% p.a. Comparison Rate 3.02% p.a.
Special Offer Variable Rate (LVR <=80%) 2.72% p.a. Comparison Rate 2.76% p.a

ANZ Australian Credit Licence Number 234527

** Rates displayed are subject to change at any time**
** Rates posted 04/09/2020**

Financial Banking Banking & Finance Home Loan Loan Low Rate

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closed Comments

  • Bargain Slut on 05/11/2020 - 09:09
    +9

    4 year rates are trash - I am sadly an existing ANZ customer, wouldn't really recommend them.

    Currently also take forever to process a new application.

    • itsfree on 05/11/2020 - 09:19
      +1

      I wouldn't recommend them either. Horrible customer service and their internet banking website seems to get worse each iteration.

      I applied late May, and only had the account opened two weeks ago. Among their many bungles, they cancelled the valuer. So I presumed they didn't need a valuer as I had provided numerous comparable properties for valuation purposes. I waited a month and didn't hear anything, so I contacted my broker again and he said the bank was still waiting for a valuation!! 🤬

      • RDY4ME on 05/11/2020 - 09:22
        +5

        Agree. Customer Service is shocking. Will be refinancing as soon as I get the time to do so.

    • yppi on 05/11/2020 - 09:24
      +3

      Agree never even go with ANZ and also CBA Is doing 1.99% what is so good about this deal

    • Broos on 05/11/2020 - 09:34
      +3

      Agree with this comment. We recently switched from CBA to ANZ and wow I can't wait to refinance away from ANZ.
      I find ANZ is more difficult to do basic things, such as, needing two apps to make larger payments/withdrawals.
      And yeah, customer service is rubbish. Each time I call I ask them to correct my address (you know, for the asset they loaned for…) and it's such a headache that it hasn't happened yet (language barrier).

      • tunzafun001 on 05/11/2020 - 11:24
        +2

        I refinanced to a little unknown community first credit union spinoff called Easystreet. Fixed 100% offset loans at 2.19 (before this rate drop). No fees. Expected that I had just sold my sole. Called up…and after 4 rings an actual person answered the phone and helped me….mind blown!
        Im almost too scared to go back to a big 4. But the refi $$$$ for 2 years …hmm.

  • [Deactivated] on 05/11/2020 - 09:10

    Offset still applies to 1 year fixed only?

    • buckster on 05/11/2020 - 09:14
      +1

      Yes, 1 year fixed w/ offset, 2 year fixed needs to be split with a variable loan if you want offset facility

  • kulprit on 05/11/2020 - 09:18
    +1

    What's the variable rate with an offset?

    • Kammi on 05/11/2020 - 12:03

      3.18% with 350k+

  • russta on 05/11/2020 - 09:22
    +1

    How about passing on the rate cut to the variable rate?

  • Fuzzyduck on 05/11/2020 - 09:33

    Damn these rates are trash shop around, you’ll find great deals atm.

  • [Deactivated] on 05/11/2020 - 09:39
    +1

    ANZ are trash

  • runamuck on 05/11/2020 - 09:45

    Stupid question here but I'm just curious. Interest rates are at record low and will probably stay this way for quite some time so why would anyone choose fixed over variable?

    • matt1234 on 05/11/2020 - 09:57
      +2

      Because the fixe rate is lower than the variable, and its probably not going to get any lower.
      Reserve bank is at 0.10% atm.

      • SonOfATightASS on 05/11/2020 - 23:51

        By 'it' do you mean the fixed or variable or both?

        People said the fixed rate wouldn't get any lower in May and look at the situation now. So many fixed, including me.

        • matt1234 on 06/11/2020 - 12:06

          The banks rates are lowered when the reserve rates are lowered.
          Being that the reserve bank is now at 0.1%, it cant really get any lower without going negative.
          So the latest drop will most likely be the lowest fixed rates (1.98-2.09%).
          Variables haven't changed yet, but they will still be higher than fixed if they do decide to lower them as well.

  • tg on 05/11/2020 - 10:02

    OP, what is DTI for ANZ?

  • gg99 on 05/11/2020 - 10:23

    Hey OP, what about Interest only? do you have any deals?

    • Lunarboogie on 05/11/2020 - 12:11

      I want to know the answer to this too. Can you tell me the best rate for fixed IO loans for investment properties?

  • Enjj0y on 05/11/2020 - 11:07

    Avoid ANZ.

  • Employeehazachoom @ ANZ on 05/11/2020 - 11:34
    -5

    Sounds like most people have had bad experience with brokers. I just want to confirm I am not a broker and am employed with ANZ as a Home and Investment Lending Manager.
    The previous delays were for broker channels not direct ANZ applications.

    If you have had a bad experience with ANZ then let me prove you wrong. You know how to reach me

    • sistermay on 05/11/2020 - 12:14
      +3

      If brokers are being discriminated by the bank like that why bother having a broker arm of business ? For those brokers who has ANZ on your referral list simply don't refer loan to ANZ as you can see from comments here how many unhappy customers they have.

      • yppi on 05/11/2020 - 12:22
        +2

        Agree to above comment and i dont see any comments had broker word in it.

    • Broos on 05/11/2020 - 12:55

      I worked directly with the bank for my application. The application process was fine. It's the ’after-sales’ experience is terrible, as is the mobile banking (ANZ App).

    • kulprit on 05/11/2020 - 13:01

      If you can actually say what the offered variable with offset interest rate will be then people might be more interested. Not the advertised one that everyone gets a different discount off.

    • Bargain Slut on 05/11/2020 - 14:55

      I went directly through ANZ, not the first time I have either - but probably the last.

      ANZ, like most of the major banks puts all of its resources into attracting new customers and does little to reward or retain its existing ones. Customer service goes out the window the moment you sign on the dotted line.

      I respect that you are trying to do your job but coming here with those rates is like rolling yourself in oil and throwing yourself into the fire.

    • RDY4ME on 06/11/2020 - 10:13
      +1

      Its not the sales team at ANZ that are the problem (although to be honest they aren't great). Its the aftersales support. It's cheaper to hire call centre staff from O/S and ANZ obviously welcomes this.

  • AkiraSaito on 05/11/2020 - 11:50
    +3

    Previous ANZ customer. Their process takes forever and pretty bad customer service in general. Simply avoid ANZ. Not worth it

  • ozbargainerlife1 on 05/11/2020 - 12:00
    +1

    I have had positive experience with ANZ.

    Is this the lowest 1 year fixed rate on market?

  • mavis30551 on 05/11/2020 - 12:49

    how does MEB bank rate?

    My broker is currently going through them I think

  • martyn on 05/11/2020 - 14:14
    +1

    As somebody who recently settled my refinancing with ANZ I would not recommend them. Took me 6 months to get approved, communication was terrible, and during the process they changed the fixed rate upwards

    • KangarooOz on 13/11/2020 - 02:17

      I second that.

      Also ANZ offset account does not support PayID and the payer must use BSB/Account number to pay you. I believe they tried to slow down your money deposit (in particular after business hours)

      When you send money to ANZ account during business hours (before 5pm), it may not arrive on the same day. My money always arrived on the same day (using BSB/Account number) between ING/BankWest/CBA/NAB if I made a transaction between those banks during business hours.

      Once I reached the end of fixed rate period, I will leave the ANZ immediately.

      • KangarooOz on 13/11/2020 - 02:22

        BTW, their internet banking app is the worst in Big 4. There is no manage future payment option on their app.

  • Employeehazachoom @ ANZ on 05/11/2020 - 15:08
    -2

    Other Banks Fixed Interest Rates

    Owner Occupier Principal & Interest

    ANZ
    1,2,3 Years Fixed 2.09%
    4 Years Fixed 2.29%

    CBA
    1,2,3 Years Fixed 2.14% - 2.19%
    4 Years Fixed 1.99%

    WBC
    1,2,3 Years Fixed 2.09%
    4 Years Fixed 1.99%

    NAB
    1,2,3 Years Fixed 2.09% - 2.19%
    4 Years Fixed 1.98%

    Lots can change over 4 years.

    • Bargain Slut on 05/11/2020 - 16:02
      +1

      yes it can, however, the attitude that all the banks have taken in terms of not passing on the rate to variable customers means that it is highly unlikely enough will change for you to see a reduction in real terms of what you are actually paying down to 1.99%.

      RBA has also stated that this low rate environment will be around for at least three years if not longer. Yes, banks need to make money but not passing these cuts on is pretty much un-Australian in the current climate.

      You still advertise your rates using ridiculous sale tactics that you'd expect with a dodgy salesman - "Well you'd usually be paying 4.29% for this, however, if you sign up to this package for $395 bucks a year, we can give you a 1.7% discount down to 2.49%". If anyone is daft enough to take a home loan for 4.29% right now you should probably question whether they are smart enough to hold down a job for the 30 years it will take them to pay back said loan…

      Unfortunately everyone needs a home and most homes need home loans so you can still have a business built around this kind of nonsense.

      Switching is also a major PITA, a fact you leverage to your advantage in choosing not to offer better after sales service to your customers.

  • swamp potato on 05/11/2020 - 18:20
    +1

    ANZ's customer service is dreadful. I've ALWAYS had issues with nearly every department there - and this is coming from someone who works as a lead in another Big 4 Bank call center!!! So I'm usually a lot more forgiving but ANZ are horrible.

    My best friend works there and agrees that they're shit. Would never recommend ANZ to anyone.

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