86 400 Home Loans 

86 400 was one of Australia’s most innovative digital banks, designed to simplify banking and home lending through technology. The name “86 400” represents the number of seconds in a day, reflecting the company’s goal of helping customers manage their money every second of every day.

The lender gained popularity by offering a fully digital mortgage experience with minimal paperwork, fast approvals, and competitive home loan rates. Following its acquisition by NAB, 86 400’s services and home loan products have been integrated into UBank, creating a stronger digital banking platform for Australian borrowers.

Why Borrowers Chose 86 400

86 400 focused on removing many of the frustrations commonly associated with traditional home loan applications. Instead of requiring extensive paperwork and lengthy approval processes, the lender used smart technology to verify financial information electronically.

Key benefits included:

• Fast digital home loan applications
• Minimal paperwork requirements
• Competitive interest rates
• Mobile-first banking experience
• Flexible repayment options
• Multiple offset account facilities
• Electronic document signing
• Quick turnaround times

The lender was particularly attractive to borrowers comfortable with digital banking and online financial management.

Types of 86 400 Home Loans

Neat Home Loan Variable Rate

The Neat Home Loan was designed for borrowers seeking a simple, low-cost mortgage solution.

Features included:

• No ongoing monthly fees
• Competitive variable interest rates
• Unlimited additional repayments
• Redraw facility
• Available for owner-occupiers and investors
• Interest-only repayment options available

This product suited borrowers wanting flexibility without paying ongoing account fees.

Own Home Loan Variable Rate

The Own Variable Home Loan offered additional features for borrowers looking to maximize savings.

Key features:

• 100% offset account
• Unlimited additional repayments
• Redraw facility
• Flexible repayment options
• Suitable for owner-occupied and investment properties

The offset feature made this loan particularly attractive for borrowers with substantial savings.

Own Home Loan Fixed Rate

The fixed-rate option provided repayment certainty while maintaining useful loan features.

Benefits included:

• Fixed interest rate protection
• Competitive fixed-rate options
• Redraw facility
• Rate lock feature
• Interest-only options
• Flexible loan structures

Borrowers seeking protection from future rate increases often preferred this product.

Digital Home Loan Application Process

One of 86 400’s biggest advantages was its streamlined application process.

The process typically involved:

Step 1: Mortgage Broker Consultation

Applications were submitted through accredited mortgage brokers who assessed the borrower’s financial position and lending requirements.

Step 2: Digital Verification

Applicants securely connected their banking information electronically, reducing the need for manual paperwork and document collection.

Step 3: Identity Verification

Identity checks were completed through mobile devices, improving convenience and reducing processing times.

Step 4: Electronic Signing

Most application and loan documents could be signed electronically.

Step 5: Approval and Settlement

Once approved, borrowers received loan documents digitally and settlement arrangements were finalized.

This efficient process often resulted in significantly faster approvals compared to many traditional lenders.

What Made 86 400 Different?

Unlike many traditional banks, 86 400 built its lending platform around automation and digital convenience.

The lender partnered with leading technology providers to:

• Verify income electronically
• Analyze spending patterns
• Speed up credit assessments
• Reduce manual processing
• Improve application accuracy

Customers could also connect multiple financial accounts in one place, providing a comprehensive view of their finances and helping them manage money more effectively.

Who Is 86 400 Best Suited For?

86 400 was generally a strong option for:

• First home buyers
• PAYG employees
• Refinancers
• Tech-savvy borrowers
• Owner-occupiers
• Investors with straightforward financial profiles
• Borrowers seeking fast approvals

Who May Need Alternative Lenders?

Other lenders may be more suitable for:

• Self-employed borrowers
• Applicants with complex income structures
• Borrowers with credit issues
• Low-doc applicants
• Customers preferring in-branch banking support
• Borrowers requiring specialist lending products