flagFounded: Adelaide & Bendigo Bank merged in 2007.

businessOwned by: ASX Listed

monetization_onFunded by: Retail deposits and wholesale capital markets

securityLMI Provider: Genworth and QBE LMI

account_balanceLender type: Bank

Adelaide Bank is not an available lender on our panel. This is a review only.

Adelaide Bank was one of the first lenders to work closely with mortgage brokers and quickly grew to have a large market share between 2000 and 2007. They innovated with unique home loans as well as aggressive lending policies such as low doc loans.

During this time they further expanded their reach and became a wholesale funder for lenders such as Aussie Home Loans, Mortgage House, Homeloans Ltd, National Mortgage Company and Better Mortgage Management.

The GFC was tougher for Adelaide Bank than for many of the larger banks and it became conservative, withdrawing many of its competitive home loans. Nowadays Adelaide Bank still funds many other lenders however it has a minor role to play in the mortgage market.

How do Adelaide Bank’s home loans compare?

Yes you can use the FHOG as your deposit. However, it isn’t normally enough on its own.


What home loans types do they have?

For retail home loans they have their SmartFit and SmartSaver variable rate loans and their SmartFix fixed rate loans. All of these loans come with the option to have 100% offset and can be used for owner occupied and investment purposes.

Their SmartDoc loan is a low doc loan that is suitable for self employed borrowers who don’t have up to date financials or tax returns.

However it’s really their SmartSuite commercial loans that have set them apart in recent years. If you have a property such as a factory, office, retail shop or warehouse then they have a range of options including full doc, low doc and lease doc as well as fixed and variable rates.

Tips for applying with Adelaide Bank

You don’t have to live in South Australia to apply with Adelaide Bank! Their loans are available through mortgage brokers Australia wide and can be used to finance properties anywhere in Australia.

You may need to provide more documents than you would with other banks as their credit policies are more conservative and they require more verification than major lenders.

Use Adelaide Bank’s supporting documents checklist (page 13) to prepare for your home loan application.

Note: This is the latest documents checklist as at 23 October 2017. Please refer to Adelaide Bank for their most up-to-date document requirements.

You can use the First Home Owners Grant as your deposit. However, it isn’t normally enough on its own.

For its home loan customers, the bank offers deposit accounts and insurances.

Make use of its 100% offset account. There is no maximum deposit to offset balance.

For commercial loans, cash-out options available for business or investment purposes (not working capital)/

Adelaide Bank client story

Mark, QLD


Mark lived on an acreage outside of a major country town in Queensland and approached his bank to access some equity in his property.

Unfortunately, he was told that they couldn’t help due to the location and because he didn’t have up to date financials for his business.


Mark was able to get an approval from Adelaide Bank using their low doc policy.

Although the land size was a concern for the bank, Mark had plenty of equity so they were able to consider his application.

Mark was required to provide an accountant’s verification form instead of tax returns. The home loan was approved and Mark was able to access his equity.

Compare Adelaide Bank to other lenders

Not sure which lender is right for you? Our Home Loan Experts can help!

Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.