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 |
|---|---|---|---|---|---|
|
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 |
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 |
|---|---|---|---|---|---|
|
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 |
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 |
|---|---|---|---|---|---|
|
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 |
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 |
|---|---|---|---|---|---|
|
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 |
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.
187 Reviews
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 reviewThis 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.
Great bank, great service, great product. Highly recommend
Read full reviewGreat bank, great service, great product. Highly recommend
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 reviewI 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..
Brilliant customer service, simple application process. Highly recommended.
Read full reviewBrilliant customer service, simple application process. Highly recommended.
A great not for profit bank with excellent low rates for my home loan.
Read full reviewA great not for profit bank with excellent low rates for my 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: