Owner occupiers or investors looking for the security of a set monthly budget will want to compare Police Bank’s range of fixed rate home loan offers. Equipped with competitive rates on terms of 1-5 years, Police Bank’s fixed rate loans also come with handy features such as free extra repayments, redraws and the ability to borrow with deposits as low as 5%. Don’t forget to budget for any application, legal and valuation fees though.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
5.59% p.a. |
5.85% p.a. |
$0.00 |
$1,050 |
||
|
6.29% p.a. |
6.05% p.a. |
$0.00 |
$1,050 |
||
|
5.59% p.a. |
5.85% p.a. |
$0.00 |
$1,050 |
||
|
5.59% p.a. |
5.85% p.a. |
$0.00 |
$1,050 |
||
|
7.39% p.a. |
6.73% p.a. |
$0.00 |
$1,050 |
||
|
7.39% p.a. |
6.73% p.a. |
$0.00 |
$1,050 |
||
|
7.39% p.a. |
6.73% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.26% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.26% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.26% p.a. |
$0.00 |
$1,050 |
||
|
7.29% p.a. |
6.69% p.a. |
$0.00 |
$1,050 |
||
|
7.29% p.a. |
6.61% p.a. |
$0.00 |
$1,050 |
||
|
7.29% p.a. |
7.21% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.26% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.69% p.a. |
$0.00 |
$1,050 |
||
|
5.79% p.a. |
6.19% p.a. |
$0.00 |
$1,050 |
||
|
6.84% p.a. |
6.85% p.a. |
$0.00 |
$1,050 |
||
|
6.84% p.a. |
6.77% p.a. |
$0.00 |
$1,050 |
||
|
6.84% p.a. |
7.13% p.a. |
$0.00 |
$1,050 |
||
|
6.54% p.a. |
6.85% p.a. |
$0.00 |
$1,050 |
||
|
6.54% p.a. |
7.05% p.a. |
$0.00 |
$1,050 |
||
|
6.54% p.a. |
6.69% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
6.75% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
6.67% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
7.03% p.a. |
$0.00 |
$1,050 |
||
|
6.44% p.a. |
6.59% p.a. |
$0.00 |
$1,050 |
||
|
6.44% p.a. |
6.95% p.a. |
$0.00 |
$1,050 |
||
|
6.44% p.a. |
6.66% p.a. |
$0.00 |
$1,050 |
Police Bank also have a number of variable rate home loans available to their members on loan amounts starting from $50,000 up to 95% of the property’s value. Borrowers can access a bunch of great features including free extra repayments, a free redraw facility and the use of an offset account. To tailor your loan, you can choose between weekly, fortnightly or monthly repayments, and choose to split your loan between variable and fixed rates. But remember, there may be some upfront fees to consider.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
|
5.84% p.a. |
5.91% p.a. |
$0.00 |
$1,050 |
||
|
5.84% p.a. |
5.92% p.a. |
$0.00 |
$1,050 |
||
|
6.64% p.a. |
6.54% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
6.82% p.a. |
$0.00 |
$1,050 |
||
|
7.34% p.a. |
7.25% p.a. |
$0.00 |
$1,050 |
||
|
6.34% p.a. |
6.42% p.a. |
$0.00 |
$1,050 |
||
|
6.44% p.a. |
6.52% p.a. |
$0.00 |
$1,050 |
||
|
7.04% p.a. |
7.12% p.a. |
$0.00 |
$1,050 |
||
|
6.54% p.a. |
6.44% p.a. |
$0.00 |
$1,050 |
||
|
6.64% p.a. |
6.54% p.a. |
$0.00 |
$1,050 |
||
|
7.24% p.a. |
7.15% p.a. |
$0.00 |
$1,050 |
||
|
6.24% p.a. |
6.32% p.a. |
$0.00 |
$1,050 |
||
|
6.34% p.a. |
6.42% p.a. |
$0.00 |
$1,050 |
||
|
6.94% p.a. |
6.90% p.a. |
$0.00 |
$1,050 |
||
|
7.34% p.a. |
7.31% p.a. |
$0.00 |
$1,050 |
||
|
6.84% p.a. |
6.80% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
6.82% p.a. |
$0.00 |
$1,050 |
||
|
7.14% p.a. |
7.22% p.a. |
$0.00 |
$1,050 |
||
|
6.64% p.a. |
6.72% p.a. |
$0.00 |
$1,050 |
||
|
6.84% p.a. |
6.80% p.a. |
$0.00 |
$1,050 |
||
|
7.24% p.a. |
7.20% p.a. |
$0.00 |
$1,050 |
||
|
6.74% p.a. |
6.70% p.a. |
$0.00 |
$1,050 |
||
|
7.04% p.a. |
7.12% p.a. |
$0.00 |
$1,050 |
||
|
6.54% p.a. |
6.62% p.a. |
$0.00 |
$1,050 |
||
|
6.64% p.a. |
6.72% p.a. |
$0.00 |
$1,050 |
The majority of Police Bank home loans allow borrowers to pay off their loans faster for free (and therefore save on interest) with the unlimited extra repayments feature. This feature also generally comes alongside a redraw facility which lets homeowners tap into any of the additional repayments they’ve made for other purposes.
Speaking of reducing the interest you pay, Police Bank’s variable rate First Home Loan, Goldrate Home Loan and Police Value Home Loans all come with an offset account feature attached.
Looking to match up your home loan repayments on a schedule that suits you? With Police Bank, you’ll be able to choose between making your payments on a monthly, fortnightly or weekly schedule.
Mozo users have rated Police Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
31 Reviews
Great service and support for banking, with lots of options to suit changing needs.
Read full reviewGreat service and support for banking, with lots of options to suit changing needs.
Police Bank truly shines as a member-centric institution. With their low-interest rates on loans, they prioritize affordability. The friendly staff creates a welcoming atmosphere, offering exceptional customer service. Their online and mobile banking app provide convenience, making transactions a breeze. A top-notch choice for all banking needs.
Read full reviewPolice Bank truly shines as a member-centric institution. With their low-interest rates on loans, they prioritize affordability. The friendly staff creates a welcoming atmosphere, offering exceptional customer service. Their online and mobile banking app provide convenience, making transactions a breeze. A top-notch choice for all banking needs.
When interest rates started to hike, I got in touch and negotiated a reduced rate, it has saved me thousands and counting.
Read full reviewWhen interest rates started to hike, I got in touch and negotiated a reduced rate, it has saved me thousands and counting.
Loved the process - Police Bank helped us and was just an email or call away. Responded in a timely manner and I never felt out of the loop. No query was left unanswered. Rate was good / customer service was good and knowledge was amazing. I highly recommend Police Bank - there was be no regrets. From a simple enquiry we now have a unit. While getting a home loan can be daunting. The way were treated... made it very easy and reassuring.
Read full reviewLoved the process - Police Bank helped us and was just an email or call away. Responded in a timely manner and I never felt out of the loop. No query was left unanswered. Rate was good / customer service was good and knowledge was amazing. I highly recommend Police Bank - there was be no regrets. From a simple enquiry we now have a unit. While getting a home loan can be daunting. The way were treated... made it very easy and reassuring.
The variety of products the Police Bank offer covers a very wide range of needs. Their loan process is simple and easily understood, and their customer service is also very good.
Read full reviewThe variety of products the Police Bank offer covers a very wide range of needs. Their loan process is simple and easily understood, and their customer service is also very good.
Police Bank are a little different to a standard bank because you'll either need to be a current serving police officer or a retired officer who is "...a member of a union that is associated with the Police Federation of Australia..." in order to apply for a home loan.
In terms of the home loan application process itself, make sure you have the following handy: