86 400 launches its Neat home loan digital solution for Australians

By Edil Corneille

Australian neobank – 86 400, announced the 86 400 Neat home loan digital solution, said to be its lowest variable rate loan. Available to brokers as of November 16, the Neat home loan has been developed to offer customers an alternative mix of features and rates to provide even more choice when it comes to finding the right home loan for them.

“With home loan rates continuing to drop across the nation, we’re committed to staying competitive for our customers and brokers. Our new Neat home loan is doing just that currently with the lowest ongoing variable rate via brokers from a bank,” said Robert Bell, CEO of 86 400.

Bell continues, “We’re continuing to challenge the status quo of banking to help more Australians buy, refinance or invest with a range of products to suit them. With approval times in as little as two hours, Australians can see there is a smarter way to getting a home loan in today’s competitive market.”

The Neat variable rates start from 2.19 per cent p.a. and include tiered rates by LVR, no ongoing fees, unlimited additional repayments and redraw facilities.

Being a fully licensed bank, 86 400 is able to offer customers a full range of banking facilities including real-time access to funds via redraw with OSKO along with a fee free transaction account linked to a Visa Debit card as well as Apple Pay, Google PayTM and features such as BPay and scheduled payments.

86 400 launched its home loan offering with the Own home loan in November 2019 where mortgage brokers nationwide have taken advantage of the digital solution, competitive rates and fast turnaround times.

The 86 400 home loan solution enables digital verification of identity, digital collection of expense and income information and all 86 400 documents are signed electronically. The bank has mentioned that it directly addresses some of the biggest pain points for brokers such as digital accreditation and speed to decision.

In addition to its home loan offering, the smartbank mentioned that it continues to provide customers with a smarter alternative to banking today with features such as allowing customers to connect their external bank accounts to the 86 400 app to gain a better view of their financial picture and automatically predicting their regular bills from across all of the connected accounts.