Police Bank home loans

Police Bank
Police Bank's overall rating for home loans

(as rated by the Mozo community)

9.2 / 10

based on 5 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 04 December, 2016. 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 ‡  

3.89% p.a.

4.35% p.a.

$0.00

$995

5.07% p.a.

5.20% p.a.

$0.00

$995

3.89% p.a.

4.59% p.a.

$0.00

$995

Go to site

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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.

4.49% p.a.

$0.00

$995

5.14% p.a.

5.21% p.a.

$0.00

$995

4.74% p.a.

4.81% p.a.

$0.00

$995


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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

$995

Go to site

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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 9.2*

Price

Features

Customer service

Convenience

Trust

5 Reviews

* Overall rating based on reviews in the past 12 months.

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 (ACT), reviewed 11 months 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 (NSW), reviewed almost 2 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 (NSW), reviewed over 2 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 (NSW), reviewed about 3 years ago

Police Bank

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

Overall rating   10 / 10

Great website and customer service

Police credit bank is great. You do need someone to refer you to them to be able to join the bank. It is worth while to be in but the nearest branch is in the city. You can access your bank account through a Westpac ATM, online or phone banking....

Full review

Police credit bank is great. You do need someone to refer you to them to be able to join the bank. It is worth while to be in but the nearest branch is in the city. You can access your bank account through a Westpac ATM, online or phone banking. The staff are extremely helpful and are always willing to whatever you require.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   3 / 10

    Trust   10 / 10

Less

Mozo reviewer (VIC), reviewed about 3 years ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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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