Home Loans

We work hard to offer straightforward, flexible and great-value home loans to suit your lifestyle.

Construction Loan

Construction Loan

The Australian Military Bank Construction Loan is perfect for those wanting to build or renovate their homes. With interest only repayments to help you save during the construction period, our Construction Loan helps you to relax during this often stressful time.

Borrow up to 95%

of your property's value

Home construction

and renovations

No monthly

or annual fees



The Construction Loan has a great range of features:

  • Progressive draw down payments throughout construction
  • Minimum loan amount of just $50,000
  • Loan term of up to 2 years
  • The option to make extra repayments to reduce your loan term
  • Interest only repayments during the construction phase to help you save
  • No monthly fees
  • No annual fees
Enquire about the Construction Loan online, call 1300 13 23 28 or visit your nearest branch.

Rates & Fees


Here’s everything you need to know about the rates and fees
for the Construction Loan:

  • Interest rate: 4.13% p.a.2
  • Comparison rate*: 4.17% p.a.​3 

*Comparison rate based on a loan of $150,000 repaid over 25 years. WARNING: The comparison rate is applicable only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.  

  • Application fee: $500
  • Monthly fee: $0
  • Annual fee: $0
  • Draw down fee: $65 per drawing
  • Mortgage discharge fee: $300
  • Lenders Mortgage Insurance (LMI)4: Payable for loans with a deposit of less than 20% of the purchase price
  • 3rd party charges: Stamp duty, legal fees and valuation fees apply

Additional fees may be payable. For more information please see our Schedule of Fees and Charges.

Download our Schedule of Fees and Charges


Here are the top 5 questions we get asked about our Construction Loan. Have a different question? Call 1300 13 23 28 to speak to a home loan consultant.

How long do I have to build my home? 
The construction period is up to 2 years from the date of settlement.

What happens after I’ve built my home?
Once your construction is complete, you’ll revert to another of our home loans. Talk to us about which of our options may suit your lifestyle.

How do the progressive draw downs work?
Progressive draw down allows you to pay the builder for the construction or renovation in 3 stages as the building work reaches each stage of completion. Australian Military Bank will arrange a valuation to conduct progress inspections prior to payment. Please note these inspections may be subject to fees and charges.

Can I may extra payments on my loan?
Yes. You can make additional repayments on your loan which can help you to reduce your overall loan term.

I don’t need to borrow much money. What is the minimum amount?
With the Construction Loan you can borrow as little as $50,000.

Interest Rates2

starting from

Comparison Rates3

starting from

Maximum Loan to Value Ratio (LVR)4
Home Buyers Deposit Schemes6
Offset Facility Option
Redraw facility ($500 minimum)
Additional Repayments
Monthly Fees
Annual Fees
Split option available
Minimum Loan Amount
Maximum Loan Period
Loan Purpose
Relationship Rewards5
Loan Type

Use the arrows to scroll through the many Australian Military Bank Home Loans options  RESET


Make an appointment with a mobile banker

Make an appointment with a mobile banker

Your browser is out-of-date!
click here to access online banking click here to upgrade your browser