ANZ Simplicity PLUS Home Loan Review (2026)
ANZ Simplicity PLUS Home Loan Review (2026)Rates and details verified 24 June 2026
Rates can change without notice. Last verified: 24 June 2026 (AEST). Please confirm details on the bank’s official page.
OO P&I (≤60% LVR)
6.39%
p.a. variable (comp. 6.39%)
Ongoing fees
$0
no monthly or annual fees
Offset account
None
no-frills variable loan
About the ANZ Simplicity PLUS
ANZ is one of Australia's four major banks. The Simplicity PLUS is their entry-level variable rate home loan — a no-frills product with no monthly or annual fees, unlimited extra repayments, and free redraw. There is no offset account.
The current best rate is 6.39% p.a. at ≤60% LVR under a special offer (effective 15 May 2026). At higher LVR tiers the rate steps up materially — reaching 7.09% p.a. at ≤90% LVR. Borrowers with a larger deposit get significantly better pricing.
Eligibility note: To apply for the Simplicity PLUS you must hold (or open) an eligible ANZ everyday or savings account. New customers will need to open that account first before or alongside the home loan application.
Note: ANZ acquired Suncorp Bank in July 2024, but Suncorp products continue to be offered under the Suncorp brand separately.
Current Rates by LVR
| LVR | OO P&I Rate | Comp. rate |
|---|---|---|
| ≤60% | 6.39% p.a. | 6.39% |
| ≤70% | 6.44% p.a. | 6.44% |
| ≤80% | 6.54% p.a. | 6.54% |
| ≤90% | 7.09% p.a. | 7.09% |
Special offer rate effective 15 May 2026. Check ANZ's website for the latest rates before applying.
Key Features
| Feature | Detail |
|---|---|
| Monthly/annual fees | $0 |
| Extra repayments | Unlimited |
| Redraw facility | Free |
| Offset account | Not available on Simplicity PLUS |
| Investment / IO | Contact ANZ |
| Account requirement | Eligible ANZ everyday or savings account |
Pros and Cons
Pros
- ✓ No setup or ongoing fees
- ✓ Unlimited extra repayments + free redraw
- ✓ Big-four bank stability and branch network
- ✓ Best ANZ variable rate for borrowers at ≤60% LVR
Cons
- ✗ 6.39% (≤60%) trails CommBank (6.34%) and many non-bank lenders
- ✗ Rate jumps sharply at higher LVR — 7.09% at ≤90%
- ✗ No offset account on Simplicity PLUS
- ✗ Requires an ANZ transaction or savings account
How It Compares
- Macquarie Bank Basic Home Loan6.09% p.a. — ≤70% LVR — lower
- ING Mortgage Simplifier5.99% p.a. — ≤80% LVR — no fees, no offset
- St.George Basic Home Loan6.29% p.a. — ≤70% LVR
- CommBank Standard Variable Rate (Wealth Package)6.34% p.a. — ≤60% LVR
- ANZ Simplicity PLUSReviewed here6.39% p.a. — ≤60% LVR
- NAB Base Variable Rate Home Loan6.44% p.a. — OO P&I
Compare head-to-head
Related guides
Comparison rate based on a $150,000 loan over 25 years. Information verified 24 June 2026. Confirm rates, fees, and eligibility on ANZ's website before applying. This is not financial advice.