You can make the most of your retirement with less stress, more choice and a whole lot of fun with a retirement home loan. You take out a home loan with us against the value of your property as security. The loan incurs monthly interest, but this can be accrued so that no payments are required until you permanently move from your home.

Taking out a loan against your home is a big decision when you’re retired. If you’re seriously considering a Reverse Equity Mortgage Loan, you may want to consider talking it through with your children, grandchildren or other family members. You could also bring along an independent legal adviser to meet one of our team. They will want to make sure you fully understand the commitment before signing up for anything and will have your best interests at heart. Our team member will be able to answer any questions or concerns you may have. Simply give us a call on 0800 727 2265.

SBS Advance Reverse Equity Mortgage Loan

  • Free up your money by borrowing against the value of your home
  • Receive funds either as a single lump sum, annual instalments, OR a combination of the two
  • This loan type has a floating interest rate
  • Monthly Interest is added to the amount borrowed
  • No regular payments required
  • The loan is repaid when either your home is sold or you and any nominated residents no longer reside in the property. 
  • When your home is sold, SBS is repaid the amount owed, with the balance to you
  • IMPORTANT: You should involve your family in the discussion as it is an important decision to make and get independent legal advice to check if this is right for you.


  • You can stay in your own home over the course of the loan
  • There are no ongoing fees
  • You don’t need to make ongoing payments (unless you choose to) until you move from your home permanently
  • Our loan repayment guarantee helps ensure the amount to be repaid doesn't exceed the net sale proceeds of the home
  • Use your money however you like
  • You can repay all of the loan, or in part, at any time
  • There is an $895 application fee and a $295 Lender documentation fee.

Advance loan rates

Rates valid from 1 November 2019

Product Rate P.A.
Floating Rate SBS Advance Loan   6.95%
Default Interest Rate****
(Charged above the then current
interest rate)


SBS Bank has suspended the use of fixed rates on SBS Advance.

Important Information

Specific credit and eligibility criteria apply. Lending Standard Contract Terms and additional SBS Advance fees and charges apply.