8.0/10

Based on 1718 People's Choice product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

People's Choice home loans

Adelaide-based People's Choice is one of Australia's largest credit unions with over 375,000 members. In addition to a range of other banking products People's Choice offer a number of fixed, variable and package home loans to owner occupier and investor borrowers. 

What home loans do People's Choice offer?

Rates and fees verified as correct at 31 May 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

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. 

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

5.99% p.a.

8.06% p.a.

$8.00 monthly

$750

6.39% p.a.

8.55% p.a.

$8.00 monthly

$750

6.19% p.a.

8.49% p.a.

$8.00 monthly

$750

Variable Rate Home Loans

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. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

5.99% p.a.

6.00% p.a.

$0.00

$0

7.93% p.a.

7.93% p.a.

$0.00

$0

6.09% p.a.

6.10% p.a.

$0.00

$0

6.64% p.a.

6.64% p.a.

$0.00

$0

8.76% p.a.

8.82% p.a.

$8.00 monthly

$750

8.83% p.a.

8.83% p.a.

$0.00

$0

6.54% p.a.

6.54% p.a.

$0.00

$0

6.24% p.a.

6.25% p.a.

$0.00

$0

9.24% p.a.

8.75% p.a.

$0.00

$0

6.64% p.a.

6.47% p.a.

$0.00

$0

6.34% p.a.

6.35% p.a.

$0.00

$0

6.89% p.a.

6.89% p.a.

$0.00

$0

9.71% p.a.

9.62% p.a.

$8.00 monthly

$750

9.41% p.a.

9.48% p.a.

$8.00 monthly

$750

Fixed Package Home Loan

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. 

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

5.69% p.a.

6.34% p.a.

$395.00 yearly

$0

6.14% p.a.

6.85% p.a.

$395.00 yearly

$0

5.79% p.a.

6.37% p.a.

$395.00 yearly

$0

6.24% p.a.

6.88% p.a.

$395.00 yearly

$0

6.19% p.a.

6.65% p.a.

$395.00 yearly

$0

5.99% p.a.

6.60% p.a.

$395.00 yearly

$0

6.44% p.a.

7.11% p.a.

$395.00 yearly

$0

Variable Package Home Loan

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. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

5.99% p.a.

6.35% p.a.

$395.00 yearly

$0

6.09% p.a.

6.45% p.a.

$395.00 yearly

$0

6.64% p.a.

6.99% p.a.

$395.00 yearly

$0

6.54% p.a.

6.89% p.a.

$395.00 yearly

$0

6.24% p.a.

6.60% p.a.

$395.00 yearly

$0

6.64% p.a.

6.99% p.a.

$395.00 yearly

$0

6.34% p.a.

6.70% p.a.

$395.00 yearly

$0

6.89% p.a.

7.24% p.a.

$395.00 yearly

$0

People's Choice home loan features in a glance

Repayment Icon

Repayment flexibility

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.

Offset icon

Offset account

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.

Image of coins

Packaged home loan options

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.

How are People's Choice home loans rated?

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.

Icon of home-loans
People's Choice home loans customer reviews
Overall
7.9/10
Price
7.3/10
Features
6.7/10
Customer service
8.1/10
Convenience
7.9/10
Trust
8.0/10
Based on 187 People's Choice product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent People's Choice home loan reviews

People's Choice Home Loan
Overall 9/10
Great communication and commitment to customers.

This bank is willing to negotiate my home loan once every 12 months. They always drop it even if it's by 0.20%. They listen and always try their best. They do a full review when I go in for an appointment and check to make sure that I have seen a financial advisor.

Read full review

This bank is willing to negotiate my home loan once every 12 months. They always drop it even if it's by 0.20%. They listen and always try their best. They do a full review when I go in for an appointment and check to make sure that I have seen a financial advisor.

Price
7/10
Features
4/10
Customer service
9/10
Convenience
9/10
Trust
8/10
Less
Angela, Northern Territory, reviewed 8 months ago
People's Choice Basic Variable Home Loan
Overall 10/10
10 out of 10

Great bank, great service, great product. Highly recommend

Read full review

Great bank, great service, great product. Highly recommend

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jeremy, Victoria, reviewed 9 months ago
People's Choice Variable Home Loan Package
Overall 7/10
A Good place to bank low home rates Professional S

I have found the staff respectful and helpful. They always have answered my questions and home loan rate is low. Recommend if you not banking with people's choice and you are thinking of changing your home loan over to people's choice. It's worth speaking to them..

Read full review

I have found the staff respectful and helpful. They always have answered my questions and home loan rate is low. Recommend if you not banking with people's choice and you are thinking of changing your home loan over to people's choice. It's worth speaking to them..

Price
6/10
Customer service
6/10
Convenience
6/10
Trust
6/10
Less
Vicki, Northern Territory, reviewed almost 2 years ago
People's Choice Home Loan
Overall 10/10
Would use again

Brilliant customer service, simple application process. Highly recommended.

Read full review

Brilliant customer service, simple application process. Highly recommended.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jeremy, Victoria, reviewed about 2 years ago
People's Choice Home Loan
Overall 9/10
Low Rates!

A great not for profit bank with excellent low rates for my home loan.

Read full review

A great not for profit bank with excellent low rates for my home loan.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
8/10
Trust
9/10
Less
Stef, Victoria, reviewed over 2 years ago

What do you need to apply for a People's Choice home loan?

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: 

Home loan quick links