Police, emergency or health worker? Meet the lender that could help you shave years off your home loan

As an emergency services worker, you work hard for your money. That’s why it’s so important for you to have a competitive rate home loan and a lender that actually puts your interests first.

Customer-owned banks are designed to put their members first by reinvesting profits back into their members and their communities. And because of that, they tend to have far more competitive home loans compared to the big banks.

BankVic is one of these member-owned banks, and it’s dedicated to serving the police force, health workers and the emergency services sector (in Victoria as well as other Australian states and territories) with home loans and a full suite of banking services that’s made with them in mind.

Most importantly, BankVic’s home loans are excellent value. It walked away a winner in the  2025 Mozo Experts Choice Home Loan Awards, taking out an award in the Low Cost Home Loan category – pretty incredible considering that 270 variable rate home loans from banks big and small are considered in the category.

To be named one of Australia’s top low cost home loan options is crucial at a time when you want to get the most out of your hard-earned cash. And better interest rates mean you could shave years off your home loan and pay off your mortgage sooner.

Reasons to make the switch to BankVic

• Low rates for owner-occupiers: BankVic’s 2 year fixed rate is just 4.98% p.a. (5.33% p.a comparison rate*), which is among the lowest fixed rates in the market currently according to the Mozo database#.
• Competitive investment property loan rates: Get as low as 5.18% p.a. (5.53% p.a. comparison rate*) for 2 years with BankVic's Fixed Rate Investment Loan.     
• Score up to $5,000 cashback for first home buyers: Police first home buyers who take out a take out a new loan of at least $350,000 are eligible for up to $5,000 cashback, while health and emergency services employees are eligible for up to $3,500. (T&Cs apply visit bankvic.com.au for more info).
• Additional rate discount for police: Police officers get an extra interest rate discount of 0.06% off BankVic’s already-competitive standard variable home loan rate of 5.35% (5.56% comparison rate). That makes the bank’s police rate of 5.29% p.a (5.30% comparison rate) in the lowest 12% of rate offers in our database (as at 19 Nov, 2025)#.
• No LMI for deposits of at least 10%: BankVic can waive expensive lenders mortgage insurance (LMI) for police, emergency and health workers if they have a deposit of at least 10%^. 
• No establishment, ongoing or annual fees for variable home loans: with zero establishment and ongoing fees to pay on variable home loans, all of your repayments go towards paying down your home loan faster, not towards bank profits.
• Free extra repayments and redraw: Make unlimited extra repayments on your mortgage without facing a fee, plus redraw at any time (minimum redraw of $50).

Disclosures

* Comparison rate warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for our home loans are based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rate has been calculated on a loan amount of $150,000 over a term of 25 years.

# Based on the Mozo database, 19 November 2025, variable rates available to Owner Occupiers paying principal and interest on a $500,000 loan amount with a loan to value ratio of 80%.

^ LMI waiver terms and conditions apply such as property location and other factors, speak to a BankVic lender for more information.

The information in this article is general only, does not constitute advice and is current at the time of publication only.  All loans are subject to lending assessment and approval criteria. Fees and charges may apply. Interest rates are variable and subject to change. Information on BankVic's terms & conditions, interest rates and fees & charges are available on request. Police Financial Services Limited ABN 33 087 651 661 - trading as BankVic | AFSL and Australian Credit License 240293.