Rates and fees verified as correct at 30 October, 2020. Other information correct at the time of writing. Advertiser disclosure.
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.
| Product | Fixed 3 year rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.49% p.a. | 2.79% p.a. | $0.00 | $995 | ||
| 2.49% p.a. | 2.78% p.a. | $0.00 | $995 | ||
| 2.49% p.a. | 2.79% p.a. | $0.00 | $995 | ||
| 2.69% p.a. | 3.07% p.a. | $0.00 | $995 | ||
| 2.49% p.a. | 2.79% p.a. | $0.00 | $995 | ||
| 2.69% p.a. | 3.07% p.a. | $0.00 | $995 | ||
| 2.99% p.a. | 3.32% p.a. | $0.00 | $995 | ||
| 2.99% p.a. | 3.32% p.a. | $0.00 | $995 |
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.
| Product | Rate | Comparison Rate | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 2.79% p.a. | 2.87% p.a. | $0.00 | $995 | ||
| 3.11% p.a. | 3.19% p.a. | $0.00 | $995 | ||
| 2.79% p.a. | 2.87% p.a. | $0.00 | $995 | ||
| 2.79% p.a. | 2.84% p.a. | $0.00 | $995 | ||
| 2.79% p.a. | 2.87% p.a. | $0.00 | $995 | ||
| 3.11% p.a. | 3.19% p.a. | $0.00 | $995 | ||
| 3.34% p.a. | 3.42% p.a. | $0.00 | $995 | ||
| 3.34% p.a. | 3.42% p.a. | $0.00 | $995 |
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.
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.
Pay less interest on your Police Bank home loan by making use of the offset account feature.
Choose to make your repayments either monthly, fortnightly or weekly, to fit with your budgeting schedule.
Mozo users have rated Police Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
27 Reviews
The variety of products the Police Bank offer covers a very wide range of needs. Their loan process is simple and easily understood, and their customer service is also very good.
Read full reviewThe variety of products the Police Bank offer covers a very wide range of needs. Their loan process is simple and easily understood, and their customer service is also very good.
Great personal customer service
Read full reviewGreat personal customer service
Trustworthy and excellent online banking security
Read full reviewTrustworthy and excellent online banking security
I love this credit union. Rates are fair. Customer service is outstanding.
Read full reviewI love this credit union. Rates are fair. Customer service is outstanding.
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.
Read full reviewA 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.
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:
