The details shown below are for an owner occupier taking out a principal & interest loan of at least $30,000 with an LVR below 95%
The details shown below are for an investor taking out a principal & interest loan of at least $30,000 with an LVR below 95%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 95% | $30,000 | |
| | Investor | Principal & Interest | < 95% | $30,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $30,000
Investor (Principal & Interest)
LVR < 95%
Loan: $30,000
The GMCU Fixed Rate home loan combines competitive rates with a range of features that are sure to be appreciated by borrowers. You can access fixed rates as low as 2.40% p.a. (3.73% p.a. comparison rate*) on 2-year terms and 2.50% p.a. (3.64% p.a. comparison rate*) on 3-year terms. There’s also an offset account to help you save, the ability to make free extra repayments and a redraw facility.
The GMCU Fixed Rate home loan offers a competitive 2.40% p.a. (3.73% p.a. comparison rate*) on 2-year terms, plus a host of features. You’ll be able to make additional repayments without incurring any penalties, and if you ever want to retrieve those extra funds, you’ll be able to do so using the redraw facility. Just keep in mind there’s a minimum redraw amount of $1,000 and fees will apply. Unlike many other fixed rate home loans, the GMCU Fixed Rate also lets borrowers access an offset account, which can be useful for reducing the amount paid in interest.
If you’re eligible for the Victorian Government’s First Home Owner Grant or First Home Buyer Duty Reduction Loan, you could also receive $2,000 into your GMCU Mortgage Offset account when your loan is fully drawn. This is available on owner occupied new borrowings between $150,000 and $500,000, so long as your loan application is received by 30 November 2020 and funding commences by 31 May 2021.
With a redraw facility and the ability to make free extra repayments, this offering from GMCU could be a great choice for those looking to secure a fixed rate without losing out on the interest-saving features typically available on variable rate home loans.
While the GMCU Fixed Rate home loan is light on fees, there are still a few you’ll need to be aware of, namely the $300 application fee and $150 discharge fee.
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2.40% (3.81%*)
2.40% (3.73%*)
2.50% (3.60%*)
n/a
n/a
n/a
n/a
3.82% p.a.
$300.00
n/a
n/a
n/a
n/a
$8.00 monthly
$150.00
$30,000
none
none
95.00%
none
yes - free
none
yes - fees apply
$1,000.00
none
yes
none
none
$2,000 cash back for First Home Buyers with new borrowings $150k - $500k to those eligible for the Victorian Government First Home Owner Grant or First Home Buyer Duty Reduction Loan. Applications made by 30 Nov 2020, funded by 31 May 2021.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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n/a
n/a
n/a
2.90% (4.45%*)
2.90% (4.31%*)
3.95% (4.44%*)
n/a
n/a
n/a
n/a
4.59% p.a.
$300.00
n/a
n/a
n/a
n/a
n/a
$150.00
$30,000
none
none
95.00%
none
yes - free
none
yes - fees apply
$1,000.00
none
yes
none
none
none
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
GMCU is a mutually owned financial service organisation, servicing the Victoria region. GMCU offers a variety of services in savings accounts, cash management accounts, term deposits, home loans, overdrafts, term loans, personal loans and car insurance. GMCU offers an alternative to the big banks for members in Victoria.
See GMCU home loans
GMCU
Basic Variable
2.33% p.a.variable for 24 months and then 3.82% p.a.
3.71% p.a.
$8.00 monthly
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Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Bank of Queensland
Economy
2.59% p.a.
2.76% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
