Rates and fees verified as correct at 04 August, 2021. Other information correct at the time of writing. Advertiser disclosure.
For homeowners wanting to lock down a rate for between 1-5 years and the repayment certainty that comes with it, People's Choice offers the one fixed rate home loan for both owner occupiers and investors. The Fixed Rate Home Loan (which you can read more about in the links below) comes with principal and interest and interest-only options on loan amounts starting from $20,000, as well as minimum deposit requirements of either 5% or 10% depending on whether you're an investor or owner occupier. The loan also allows extra repayments to be made (free up to $10,000 per annum), but there are a number of fees to consider including the $8 monthly service fee.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 3.39% p.a. | 4.76% p.a. | $8.00 monthly | $750 | ||
| 2.49% p.a. | 4.13% p.a. | $8.00 monthly | $750 | ||
| 2.89% p.a. | 4.91% p.a. | $8.00 monthly | $750 | ||
| 2.69% p.a. | 4.65% p.a. | $8.00 monthly | $750 |
People's Choice also currently offers two variable rate home loans: the Basic Variable Home Loan and the Standard Variable Home Loan. Available to both owner occupiers and investors, the People's Choice variable home loans are more feature-rich alternatives to the fixed rate loan, offering up free extra repayments and a free redraw facility (minimum redraw of $1,000). While the Standard Variable Home Loan comes with an offset account, the Basic Variable Home Loan comes with the advantage of a much lower interest rate. Both loans also come with a number of fees attached, but you can check out those details and more by heading to the linked reviews below.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 4.23% p.a. | 4.24% p.a. | $0.00 | $0 | ||
| 3.19% p.a. | 3.20% p.a. | $0.00 | $0 | ||
| 3.68% p.a. | 3.69% p.a. | $0.00 | $0 | ||
| 2.49% p.a. | 2.49% p.a. | $0.00 | $0 | ||
| 4.48% p.a. | 4.49% p.a. | $0.00 | $0 | ||
| 3.34% p.a. | 3.35% p.a. | $0.00 | $0 | ||
| 3.93% p.a. | 3.94% p.a. | $0.00 | $0 | ||
| 2.64% p.a. | 2.65% p.a. | $0.00 | $0 | ||
| 5.06% p.a. | 5.21% p.a. | $8.00 monthly | $750 | ||
| 4.51% p.a. | 4.66% p.a. | $8.00 monthly | $750 | ||
| 4.69% p.a. | 4.70% p.a. | $0.00 | $0 | ||
| 2.99% p.a. | 3.00% p.a. | $0.00 | $0 | ||
| 4.33% p.a. | 4.34% p.a. | $0.00 | $0 | ||
| 2.79% p.a. | 2.80% p.a. | $0.00 | $0 | ||
| 4.99% p.a. | 5.00% p.a. | $0.00 | $0 | ||
| 4.58% p.a. | 4.59% p.a. | $0.00 | $0 | ||
| 2.94% p.a. | 2.95% p.a. | $0.00 | $0 | ||
| 5.46% p.a. | 5.61% p.a. | $8.00 monthly | $750 | ||
| 5.16% p.a. | 5.31% p.a. | $8.00 monthly | $750 |
If you're looking to bundle your fixed home loan with a number of other discounted banking products from People's Choice, the First Home Buyer Fixed Rate Loan (Package) or Fixed Rate Home Loan (Package) could be just what you're after. As the name suggests, the First Home Buyer Fixed Rate Loan (Package) is only available for first time owner occupier buyers, whereas the Fixed Rate Home Loan (Package) is available to both owner occupiers and investors on loans starting from $100,000.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| p.a. | n/a | $395.00 yearly | $0 | ||
| p.a. | n/a | $395.00 yearly | $0 | ||
| p.a. | n/a | $395.00 yearly | $0 | ||
| p.a. | n/a | $395.00 yearly | $0 | ||
| 2.79% p.a. | 3.40% p.a. | $395.00 yearly | $0 | ||
| 2.09% p.a. | 3.10% p.a. | $395.00 yearly | $0 | ||
| 2.94% p.a. | 3.55% p.a. | $395.00 yearly | $0 | ||
| 2.24% p.a. | 3.23% p.a. | $395.00 yearly | $0 | ||
| 2.59% p.a. | 3.50% p.a. | $395.00 yearly | $0 | ||
| 2.39% p.a. | 3.30% p.a. | $395.00 yearly | $0 | ||
| 2.74% p.a. | 4.30% p.a. | $395.00 yearly | $0 | ||
| 2.54% p.a. | 3.45% p.a. | $395.00 yearly | $0 |
For owner occupiers and investors looking to mix the benefits of a package offer as well as competitive variable rates, the People's Choice Variable Home Loan (Package) could be the best bet. Lending is available from $100,000 and the loan comes complete with features like an offset account, redraw facility and extra repayments, though there is the $395 yearly service fee to consider.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments |
|---|---|---|---|---|---|
| 3.54% p.a. | 3.94% p.a. | $395.00 yearly | $0 | ||
| 2.84% p.a. | 3.26% p.a. | $395.00 yearly | $0 | ||
| 2.99% p.a. | 3.40% p.a. | $395.00 yearly | $0 | ||
| 3.69% p.a. | 4.10% p.a. | $395.00 yearly | $0 | ||
| 3.34% p.a. | 3.76% p.a. | $395.00 yearly | $0 | ||
| 3.14% p.a. | 3.55% p.a. | $395.00 yearly | $0 | ||
| 3.29% p.a. | 3.70% p.a. | $395.00 yearly | $0 |
Many of People's Choice fixed and variable rate home loans gives borrowers the opportunity to make use of flexible features such as extra repayments and a redraw facility. Customers will also be able to make their repayments on a schedule that suits their own budget or their pay cycle: either weekly, fortnightly or monthly.
Want to reduce the amount of interest you're paying on your loan while also having funds easily at hand in case you need them? An offset account could be just the feature you're after, and the good news is that a number of People's Choice home loans (including the Standard Variable Home Loan and several of the packaged loans) come with one attached.
Peoples Choice offer regular fixed and variable rate home loans, but they also offer package loans for borrowers who are interested in saving money on fees and rates with other People's Choice banking products including credit cards, bank accounts and personal loans.
Mozo users have rated People's Choice home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
182 Reviews
The products are ok but not outstanding. I don't like the shortened opening hours/days for the physical branches. It is also frustrating that all branches are not open for all types of banking. Online banking is not user friendly for pmoney transfers as it mandates a 3rd party app to be able to make or schedule payments to another person. Also that 3rd party app is only for one member number. If you have two memberships you cannot use the same device eg mobile phone to transfer money to another person.
Read full reviewThe products are ok but not outstanding. I don't like the shortened opening hours/days for the physical branches. It is also frustrating that all branches are not open for all types of banking. Online banking is not user friendly for pmoney transfers as it mandates a 3rd party app to be able to make or schedule payments to another person. Also that 3rd party app is only for one member number. If you have two memberships you cannot use the same device eg mobile phone to transfer money to another person.
People's Choice have a good range of home loans at reasonable rates. If you take out a home loan package there are no fees other than an annual fee - all refinancing, redraws, etc. are at no additional cost. They offer unlimited redraw facilities and the best thing I like is you can have as many offset accounts as you want - I currently have six for different purposes which makes saving up for different things easier. The staff are friendly and genuinely want to help you achieve your financial goals.
Read full reviewPeople's Choice have a good range of home loans at reasonable rates. If you take out a home loan package there are no fees other than an annual fee - all refinancing, redraws, etc. are at no additional cost. They offer unlimited redraw facilities and the best thing I like is you can have as many offset accounts as you want - I currently have six for different purposes which makes saving up for different things easier. The staff are friendly and genuinely want to help you achieve your financial goals.
Happy with PCCU, bit slow about keeping in touch, but have been punctual once contacted!
Read full reviewHappy with PCCU, bit slow about keeping in touch, but have been punctual once contacted!
Poor communication, care factor very low, didn't really listen, etc. Good rates, great fees but the worst customer service in the country.
Read full reviewPoor communication, care factor very low, didn't really listen, etc. Good rates, great fees but the worst customer service in the country.
Prospective borrowers can start the home loan application process with People's Choice online and once they've filled in some initial details about the property they're looking to buy, they can either continue the application online or request a call from a People's Choice representative. Like all applications, it's worthwhile getting some information together before starting the process though including: