based on 318 Police Bank product reviews as rated by Mozo community

Police Bank home loans

Originally founded as NSW Police Credit Union (PCU) in 1964, Police Bank is a mutual bank owned by its members. While Police Bank is open to all customers, they offer discounted home loan rates for police officers current or retired.

What home loans do Police Bank offer?

Rates and fees verified as correct at 13 April 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

Owner occupiers or investors looking for the security of a set monthly budget will want to compare Police Bank’s range of fixed rate home loan offers. Equipped with competitive rates on terms of 1-5 years, Police Bank’s fixed rate loans also come with handy features such as free extra repayments, redraws and the ability to borrow with deposits as low as 5%. Don’t forget to budget for any application, legal and valuation fees though.

Home loan repayments calculator

years

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

5.59% p.a.

5.85% p.a.

$0.00

$1,050

6.29% p.a.

6.05% p.a.

$0.00

$1,050

5.59% p.a.

5.85% p.a.

$0.00

$1,050

5.59% p.a.

5.85% p.a.

$0.00

$1,050

7.39% p.a.

6.73% p.a.

$0.00

$1,050

7.39% p.a.

6.73% p.a.

$0.00

$1,050

7.39% p.a.

6.73% p.a.

$0.00

$1,050

5.79% p.a.

6.26% p.a.

$0.00

$1,050

5.79% p.a.

6.26% p.a.

$0.00

$1,050

5.79% p.a.

6.26% p.a.

$0.00

$1,050

7.29% p.a.

6.69% p.a.

$0.00

$1,050

7.29% p.a.

6.61% p.a.

$0.00

$1,050

7.29% p.a.

7.21% p.a.

$0.00

$1,050

5.79% p.a.

6.26% p.a.

$0.00

$1,050

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5.79% p.a.

6.69% p.a.

$0.00

$1,050

Go to site

5.79% p.a.

6.19% p.a.

$0.00

$1,050

Go to site

6.84% p.a.

6.85% p.a.

$0.00

$1,050

6.84% p.a.

6.77% p.a.

$0.00

$1,050

6.84% p.a.

7.13% p.a.

$0.00

$1,050

6.54% p.a.

6.85% p.a.

$0.00

$1,050

6.54% p.a.

7.05% p.a.

$0.00

$1,050

6.54% p.a.

6.69% p.a.

$0.00

$1,050

6.74% p.a.

6.75% p.a.

$0.00

$1,050

6.74% p.a.

6.67% p.a.

$0.00

$1,050

6.74% p.a.

7.03% p.a.

$0.00

$1,050

6.44% p.a.

6.59% p.a.

$0.00

$1,050

6.44% p.a.

6.95% p.a.

$0.00

$1,050

6.44% p.a.

6.66% p.a.

$0.00

$1,050

Variable Rate Home Loans

Police Bank also have a number of variable rate home loans available to their members on loan amounts starting from $50,000 up to 95% of the property’s value. Borrowers can access a bunch of great features including 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 may be some upfront fees to consider.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

5.84% p.a.

5.91% p.a.

$0.00

$1,050

5.84% p.a.

5.92% p.a.

$0.00

$1,050

6.64% p.a.

6.54% p.a.

$0.00

$1,050

6.74% p.a.

6.82% p.a.

$0.00

$1,050

7.34% p.a.

7.25% p.a.

$0.00

$1,050

6.34% p.a.

6.42% p.a.

$0.00

$1,050

6.44% p.a.

6.52% p.a.

$0.00

$1,050

7.04% p.a.

7.12% p.a.

$0.00

$1,050

6.54% p.a.

6.44% p.a.

$0.00

$1,050

6.64% p.a.

6.54% p.a.

$0.00

$1,050

7.24% p.a.

7.15% p.a.

$0.00

$1,050

6.24% p.a.

6.32% p.a.

$0.00

$1,050

6.34% p.a.

6.42% p.a.

$0.00

$1,050

6.94% p.a.

6.90% p.a.

$0.00

$1,050

7.34% p.a.

7.31% p.a.

$0.00

$1,050

6.84% p.a.

6.80% p.a.

$0.00

$1,050

6.74% p.a.

6.82% p.a.

$0.00

$1,050

7.14% p.a.

7.22% p.a.

$0.00

$1,050

6.64% p.a.

6.72% p.a.

$0.00

$1,050

6.84% p.a.

6.80% p.a.

$0.00

$1,050

7.24% p.a.

7.20% p.a.

$0.00

$1,050

6.74% p.a.

6.70% p.a.

$0.00

$1,050

7.04% p.a.

7.12% p.a.

$0.00

$1,050

6.54% p.a.

6.62% p.a.

$0.00

$1,050

6.64% p.a.

6.72% p.a.

$0.00

$1,050

Police Bank home loan features in a glance

Image of coins

Image of coins

Unlimited extra repayments 

The majority of Police Bank home loans allow borrowers to pay off their loans faster for free (and therefore save on interest) with the unlimited extra repayments feature. This feature also generally comes alongside a redraw facility which lets homeowners tap into any of the additional repayments they’ve made for other purposes.

Offset icon

Offset account

Speaking of reducing the interest you pay, Police Bank’s variable rate First Home Loan, Goldrate Home Loan and Police Value Home Loans all come with an offset account feature attached. 

Schedule icon

Flexible repayment schedule

Looking to match up your home loan repayments on a schedule that suits you? With Police Bank, you’ll be able to choose between making your payments on a monthly, fortnightly or weekly schedule.

How are Police Bank home loans rated?

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.

Icon of home-loans
Police Bank home loans
Overall
Price
Features
Customer service
Convenience
Trust

31 Reviews

Recent Police Bank home loan reviews

Police Bank Home Loan
Overall 10/10
Great Service and Support

Great service and support for banking, with lots of options to suit changing needs.

Read full review

Great service and support for banking, with lots of options to suit changing needs.

Price
9/10
Features
7/10
Customer service
10/10
Convenience
9/10
Trust
10/10
Less
Kristine, New South Wales, reviewed 9 months ago
Police Bank Goldrate Home Loan
Overall 10/10
Police Bank Home Loans - Great Bank

Police Bank truly shines as a member-centric institution. With their low-interest rates on loans, they prioritize affordability. The friendly staff creates a welcoming atmosphere, offering exceptional customer service. Their online and mobile banking app provide convenience, making transactions a breeze. A top-notch choice for all banking needs.

Read full review

Police Bank truly shines as a member-centric institution. With their low-interest rates on loans, they prioritize affordability. The friendly staff creates a welcoming atmosphere, offering exceptional customer service. Their online and mobile banking app provide convenience, making transactions a breeze. A top-notch choice for all banking needs.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Duane, New South Wales, reviewed 9 months ago
Police Bank Goldrate Home Loan
Overall 8/10
Flexible and approachable, member focussed.

When interest rates started to hike, I got in touch and negotiated a reduced rate, it has saved me thousands and counting.

Read full review

When interest rates started to hike, I got in touch and negotiated a reduced rate, it has saved me thousands and counting.

Price
8/10
Features
8/10
Customer service
9/10
Convenience
10/10
Trust
8/10
Less
Jacinta, Victoria, reviewed 10 months ago
Police Bank Home Loan
Overall 10/10
Home Loan - Police Bank - Highly recommend

Loved the process - Police Bank helped us and was just an email or call away. Responded in a timely manner and I never felt out of the loop. No query was left unanswered. Rate was good / customer service was good and knowledge was amazing. I highly recommend Police Bank - there was be no regrets. From a simple enquiry we now have a unit. While getting a home loan can be daunting. The way were treated... made it very easy and reassuring.

Read full review

Loved the process - Police Bank helped us and was just an email or call away. Responded in a timely manner and I never felt out of the loop. No query was left unanswered. Rate was good / customer service was good and knowledge was amazing. I highly recommend Police Bank - there was be no regrets. From a simple enquiry we now have a unit. While getting a home loan can be daunting. The way were treated... made it very easy and reassuring.

Price
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Donna, New South Wales, reviewed over 2 years ago
Police Bank Goldrate Home Loan
Overall 8/10
All round products with great customer service.

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 review

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.

Price
8/10
Features
8/10
Customer service
8/10
Convenience
9/10
Trust
9/10
Less
Robert, New South Wales, reviewed about 4 years ago

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

Police Bank are a little different to a standard bank because you'll either need to be a current serving police officer or a retired officer who is "...a member of a union that is associated with the Police Federation of Australia..."  in order to apply for a home loan. 

In terms of the home loan application process itself,  make sure you have the following handy:

Home loan quick links