flagFounded: 2005

businessOwned by: Bank of China

monetization_onFunded by: Retail deposits and wholesale capital markets

securityLMI Provider: Genworth

account_balanceLender type: International Bank

The Sydney branch of Bank of China was established in 1942 and was one of the first major foreign banks in Australia.

Bank of China Australia Limited was established in 2005 and has offices in New South Wales, Victoria, Queensland and Western Australia.

It is the leading bank for renminbi (RMB) business in Australia.

It is the only Chinese bank in Australia to hold a full banking license to do both retail and wholesale banking.

Bank of China Australia offers home loans for owner-occupied properties, investment properties and refinances.

How do Bank of China’s home loans compare?


  • It is an approved agent for the First Home Owners Grant (FHOG).
  • Accepts cash out/equity release for home improvements and cash out for refinances
  • Small commercial properties are acceptable securities.
  • No valuation fee for properties less than $750,000.
  • Overseas assets can be accepted as an exit strategy if the borrower is earning in local income at a lower LVR.
  • Accepting borrowers with acceptable overseas income.
  • Commercial loans


  • Will not accept a high LVR of more than 90%.
  • Genuine savings policy is strict.
  • Granny flat is not accepted as security.
  • Does not accept scholarship income.
  • Borrowers on probation must be in their current job with a minimum of 6 months.
  • Cannot do reverse mortgages
  • Vacant land, rural properties, display homes, serviced apartments and hotels and motels are unacceptable properties.
  • Only deals with minor defaults
  • Redraw fee is applicable per redraw
  • Long processing times since application is manually processed
  • Interest rates are not competitive at all

What home loan types do they have?

Bank of China Australia offers the following home loan products:

For owner-occupier home loans, they offer:
  • Standard Variable Rate Home Loan: A variable home loan with repayment flexibility and ability to make extra or lump sum repayments.
  • Discount Plus Home Loan: A home loan with promotional rates for new borrowers.
  • Fixed-Rate Home Loan: Fixed rate home loans available for up to 5 years.

Bank of China Australia’s Discount and Discount Plus home loans allow you to borrow up to 80% LVR and allows early repayment, redraw and offset facility.

However, some of their home loans are not available for first home buyers and annual fees are charged.

Tips for applying with Bank of China

You can use Bank of China’s home loan application form.

Note: This is the latest application form effective September 2020. Please refer to Bank of China for their most up-to-date document requirements.

Compare Bank of China Australia to other lenders

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