Australian fintech ​86 400 has launched its ​home loan product for its customers, dubbed as 86 400​ Neat.

The lender claims that its new product offers the lowest variable rate from a bank through brokers, available from 16 November 2020.

The ​Neat​ home loan solution was developed with an aim to help customers find the right home loan, providing more choice by offering an alternative mix of features and rates.

Variable rates start from 2.19% per annum and include tiered rates by the loan-to-value ratio (LVR).

Moreover, the product comes with no ongoing fees, unlimited additional repayments and redraw facilities.

In addition to the new digital mortgage solution, 86 400​ allows customers to connect their external bank accounts to the ​86 400​ app to help manage their finances.

86 400 is a fully licenced smartbank, providing customers with real-time access to funds via redraw with OSKO.

It offers a fee-free transaction account. Customers can link their Visa debit card and payment wallets Apple Pay and Google Pay​​ to their account.

Additional features include BPay and scheduled payments.

86400 CEO Robert Bell said: “With home loan rates continuing to drop across the nation, we are 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.

​“We are 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.”

In November last year, 86 400 rolled out its previous digital home loan solution called ‘Own’ home loan, which offered competitive rates and fast turnaround times.

​86 400, with both its ‘Own’ and ‘Neat’ home solutions, enables ID verification, and income and expense data collection digitally.

It also offers e-signing capabilities for all 86 400​ documents.

In July 2020, 86 400 partnered with credit card disruptor Zip to tap the growing trend of customers looking for smarter digital alternatives.