Police Bank home loans

Police Bank
Police Bank's overall rating for home loans

(as rated by the Mozo community)

8.5 / 10

based on 26 reviews

Originally NSW Police Credit Union (PCU), Police Bank began in the 1960s. As a mutual bank, it’s owned by its members, so you know you’ll get good value as a customer. To become a member and take out a home loan with Police Bank, you need to be or once have been part of the police force or be a relative of a member.

Rates and fees verified as correct at 22 January, 2019. Other information correct at the time of writing.

What home loans do Police Bank offer?

Fixed Rate Home Loans Fixed Rate Home Loans

For the security of a set monthly budget, check out the fixed rate home loan offer from Police Bank. Available for up to 95% of the property’s value, this loan comes with a free redraw facility and the option to split between fixed and variable rates. You also have the option to make extra repayments, but keep in mind this will attract a fee. Don’t forget also to budget for the application, legal and valuation fees.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.04% p.a.

4.36% p.a.

$0.00

$545

4.04% p.a.

4.89% p.a.

$0.00

$545

4.04% p.a.

4.63% p.a.

$0.00

$545

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Variable Rate Home Loans Variable Rate Home Loans

The Police Bank Premium variable rate home loan is available for amounts starting from $50,000, up to 95% of the property’s value. You’ll have access to a bunch of great features including unlimited free extra repayments, a free redraw facility and the use of an offset account. To tailor your loan, you can choose between weekly, fortnightly or monthly repayments, and choose to split your loan between variable and fixed rates. But remember, there is an application fee to budget for.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.42% p.a.

4.46% p.a.

$0.00

$545

5.14% p.a.

5.18% p.a.

$0.00

$545

4.74% p.a.

4.78% p.a.

$0.00

$545

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Variable Package Home Loan Variable Package Home Loan

Love bundling? The Police Bank home loan package is available to borrow up to 80% of the property’s value. You’ll have a bunch of great features, including unlimited free extra repayments, a free redraw facility and the use of an offset account. Here’s the catch - there are application, legal and valuation fees to consider, and to be eligible for the package deal, you’ll also need a Police Bank credit card and Online Supersaver Account.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.04% p.a.

4.12% p.a.

$0.00

$545

3.69% p.a.

3.73% p.a.

$0.00

$545

Hide

*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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Police Bank home loan features in a glance

Unlimited extra repaymentsUnlimited extra repayments

You’ll pay your home loan off quicker and pay less interest with unlimited additional repayments. Plus, there’s no early break free on the variable rate loan! But keep in mind, if you choose to fix part of your home loan, early break fees may apply to that portion.

Offset accountOffset account

Pay less interest on your Police Bank home loan by making use of the offset account feature.

Flexible repayment scheduleFlexible repayment schedule

Choose to make your repayments either monthly, fortnightly or weekly, to fit with your budgeting schedule.

How are Police Bank home loans rated?

Want to hear what Police Bank customers have to say about it? Read their first hand experiences in our customer reviews section.

Police Bank home loans

Overall 8.5

Price

Features

Customer service

Convenience

Trust

26 Reviews

Recent Police Bank home loan reviews Recent Police Bank home loan reviews

Police Bank

Police Bank Premium Home Loan (Owner Occupier) home loan review

Overall rating   10 / 10

Great personalised service

Great personal customer service

Full review

Great personal customer service

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Genny, Australian Capital Territory, reviewed about 3 years ago

Police Bank

Police Bank home loan review

Overall rating   8 / 10

Trustworthy

Trustworthy and excellent online banking security

Full review

Trustworthy and excellent online banking security

    Price   7 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Matthew, New South Wales, reviewed about 4 years ago

Police Bank

Police Bank home loan review

Overall rating   10 / 10

The perfect bank

I love this credit union. Rates are fair. Customer service is outstanding.

Full review

I love this credit union. Rates are fair. Customer service is outstanding.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Belinda, New South Wales, reviewed about 4 years ago

Police Bank

Police Bank home loan review

Overall rating   9 / 10

Best customer service and great range of products

A professional bank that treats you more like a family member. Always great service and friendly smiles. They will always go out of their way to help you. Great products too.

Full review

A professional bank that treats you more like a family member. Always great service and friendly smiles. They will always go out of their way to help you. Great products too.

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Jen, New South Wales, reviewed over 4 years ago

Police Bank

Police Bank home loan review

Overall rating   9 / 10

Highly recommended bank.

Great pricing for all services. Very trustworthy company. Highly recommended.

Full review

Great pricing for all services. Very trustworthy company. Highly recommended.

    Price   7 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Vanessa, New South Wales, reviewed about 5 years ago

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What do you need to apply for a Police Bank home loan? What do you need to apply for a Police Bank home loan?

You’ll have to become a member to take out a home loan with Police Bank - which means you’ll need to be currently or formerly employed by the police force, or be a relative of a member. Membership is free - but it comes with the condition that if Police Bank ever goes bust, you will pay $10 to its closing management.

To apply for a home loan with Police Bank, make sure you have these details handy:

  • Photo I.D.
  • Information on your employment and salary
  • Proof of regular income, like payslips or bank statements
  • Proof of any assets you hold including property, shares or savings
  • Details of your expenses - including debts
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