Adelaide Bank

I am a medical doctor. I obtained my home loan via Investec (now known as BOQ specialists) who offered me the home loan with Adelaide Bank promising no maintenance fees and a free offset facility. I also received a discounted interest rate due to my profession. On paying off 2/3 of the loan things changed. The interest rate rose rapidly to make it worse than other banks advertised rates (not their discounted rates so what happened to my discounted rate lol). They failed to merge my 2 accounts into one and then instituted a $10 charge per account amounting to $240 per annum. To make matters worse, they want to charge approximately $1000 to discharge the loans despite their arbitrary changes to the contracted terms. They alleged feedback and desire to change archaic account systems but introduced fees when others were making banking fee free. Avoid them at all cost. Would love to give them no stars but it won't let me.

DO NOT USE THIS BANK FOR HOME LOAN / CONSTRUCTION LOANS, we are still waiting for our unconditional letter from the bank when we started our construction loan back in October last year.There famous words ( it will be done in a few days we promise ).Payed cash for our block and we only want to borrow $350k which the bank owns 53% of our house.
Don’t trust them .

First time i have dealt with them stay away - run ,run , run sa fast as you can - they take forever what took council 2 days has taken this bank since 26/10 and still waiting but don't worry you might get it done by the end of this week i was told but i will pray because they will escalate my complaint as usual so here we go again next excuse i am losing money but they still want there interest payed

Adelaide Bank use Mortgage Ezy, who have their call centre in the Phillipines, staff seem like they have almost zero training, they make mistakes in telling you, you have one product, even though you challenge the product that you have and explain why, they still insist they are correct, then a week later admit that they made a mistake.

The frustration i feel talking to them i have given up, taking my mortgage elsewhere, as their is no possible way to avoid talking to these overseas call centre staff, and i have absolutely no confidence in this organisation.

I wish i could give a minus 5 rating.

I had two home loans and one offset account with these guys. I sold one property and they took over $70,000 from the money I made on the property and put it into the loan for the second property without consultation.

They then also closed the Offset Account which was attached to each property without notice.

Very unhappy. Once house is complete I am changing banks.

I have given them one star as that is the least that can be given.
Ease of paperwork for loans
Hidden policies which make life difficult and no notification.

We searched online and found that this business has an active Facebook page with 606 followers. From our experience this can indicate that the business is either not actively engaged with online communication or is new and growing. We have discovered that this business has SSL (secure sockets layer), which means that this business handles your data, such as personal information or credit card details, with secure connection. We discovered that the domain for this business is relitevely new, which means that it could be a start-up business that does not yet have a huge amount of customers.