Loan Deposits

IBA has lower deposit requirements than commercial home lenders. The minimum amount of deposit you will need to contribute may depend on your income.

We require you to contribute the maximum amount you have available as your deposit.

The table below shows the minimum deposit requirements applicable for new housing loans offered to first home buyers.

Minimum deposit required for first home buyers^
 Total gross income  Minimum deposit amount
 Up to $73,593  $1,500
 $73,594–$121,212  $3,000
 $121,213–$142,857  3% of purchase price
 More than $142,858  5% of purchase price
^Total gross income values and deposit amounts are effective as at 1 August 2018 and are subject to change at any time.

The table below shows the deposit requirements for other loans provided by IBA. This includes housing loans to previous home owners, purchase of residential land, home improvement, refinance and property settlement and fee finance loans.

Minimum deposit required for other IBA loan products
Loan product  Minimum deposit amount^
Purchase of residential land 5% of purchase price or $10,000 (whichever is the lesser)
Home improvement, refinance or property settlement 5% of property value
Previous home owners Net proceeds from the sale of the previous home but not less than the minimum deposit requirement for first home buyers
^Minimum deposits amounts are effective as at 1 July 2016 and are subject to change at any time.


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