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Police Bank Goldrate Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan of at least $50,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $50,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest, interest only loan of at least $50,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest, interest only loan of at least $50,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000

  • Owner Occupier (Principal & Interest, Interest Only)

    LVR < 95%

    Loan: $50,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 90%

    Loan: $50,000

Rate
2.79% p.a.
Comparison Rate*
2.87% p.a.
Service fee
$0.00
Upfront fee
$995
Rate
2.79% p.a.
Comparison Rate*
2.84% p.a.
Service fee
$0.00
Upfront fee
$995
Rate
3.11% p.a.
Comparison Rate*
3.19% p.a.
Service fee
$0.00
Upfront fee
$995
Rate
3.34% p.a.
Comparison Rate*
3.42% p.a.
Service fee
$0.00
Upfront fee
$995

Mozo editorial review Police Bank Goldrate Home Loan

Last updated: 11 August 2020.

binocular icon
What's hot
  • Limited time special rate offer of 2.79% (2.87% comparison rate*)
  • Free extra repayments and redraw facility
  • Up to $2000 cashback (conditions apply)
What's not
  • $545 Application fee
  • $294 Discharge fee
Mozo snapshot

If you’re a girl or boy in blue, then do we have the home loan for you! The Police Bank Goldrate Home Loan offers competitive variable interest rates starting at 2.79% p.a. (2.87% p.a. comparison rate*) on loans of a minimum of $50,000, allowing owner occupiers to borrow up to 95% of the property. The Police Bank rewards its hard-working members with amazing products, and with free extra repayments and a free loan redraw facility the Police Bank Goldrate Home Loan is no exception.

key icon
Key features

If you’re a hardworking member of the Australian police force looking to buy a new home, then we’ve got just what you need to get the ball rolling! The Police Bank Goldrate Home Loan offers competitive variable interest rates starting at 2.79% p.a. (2.87% p.a. comparison rate*), with a minimum loan amount of $50,000 and no maximum loan amount.

And for a limited time Police Bank are offering borrowers a special variable rate of 2.79% (2.87% comparison rate*) with a maximum LVR of 80% (Lenders Mortgage Insurance applies). Plus, if you apply and are approved by 30 October 2020 (and funded by 25 December 2020) you may be eligible to receive $1,500 cashback on this loan. Also note, serving Police, Department Affairs and ABF Officers may also receive an additional $500 cashback as well. 

For owner occupiers, the loan allows you to borrow up to 90% of the property’s value, so if you’re looking to keep deposit costs low, this loan can do just that. Just keep in mind, your loan to value ratio and the type of borrower you are will determine the rate you’ll be charged.

The Police Bank Goldrate Home Loan is jam-packed with high-value flexible features, such as free extra loan repayments and a free redraw facility, meaning you’ll be able to pay your loan off as quickly as you’d like. This loan offers weekly, fortnightly or monthly repayments, meaning you’ll have the freedom to tailor your repayment cycle around your lifestyle.

Another great feature about the Police Bank Goldrate Home Loan is that there are no ongoing service or settlement fee charges to set you back. Just bear in mind, that there are a couple of other fees to keep an eye out for, like a $545 application fee and $294 discharge fee.


snapshot
Who is it good for

The Police Bank offers premium products to its members, so if you or a family member is working in the Australian police work, then the Police Bank Goldrate Home Loan could be a fantastic option for you. And if you're just about ready to buy your dream home, you'll be able to snag the discounted variable rate of 2.79% (2.87% comparison rate*). 

snapshot
Any catches

While there are no ongoing service or settlement fee charges, the Police Bank Goldrate Home Loan does, however, come with a $545 application fee and a $294 discharge fee.

Details

Rates and fees information correct as at 19 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.79% p.a.

  • n/a

  • n/a

  • n/a

  • 2.87% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $545.00

  • $450.00

  • $0.00

  • $0.00

  • 0%

  • $0.00

  • $294.00

Other financial bits
  • $50,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $500.00

  • no

  • yes

  • none

  • none

  • Receive $1,500 cashback and an additional $500 for current serving Police Officers with a minimum $150k in new loans or top up of existing loans for applications by 30 October 2020 and funded by 25 December 2020.

*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.

Details

Rates and fees information correct as at 19 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.79% p.a.

  • n/a

  • n/a

  • n/a

  • 2.84% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $545.00

  • $450.00

  • $0.00

  • $0.00

  • 0%

  • $0.00

  • $294.00

Other financial bits
  • $50,000

  • none

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $500.00

  • no

  • yes - available for principal & interest loans

  • none

  • none

  • Receive $1,500 cashback and an additional $500 for current serving Police Officers with a minimum $150k in new loans or top up of existing loans for applications by 30 October 2020 and funded by 25 December 2020.

*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.

Details

Rates and fees information correct as at 19 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.11% p.a.

  • n/a

  • n/a

  • n/a

  • 3.19% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $545.00

  • $450.00

  • $0.00

  • $0.00

  • 0%

  • $0.00

  • $294.00

Other financial bits
  • $50,000

  • none

  • none

  • 95.00%

Features
  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • none

  • Receive $1,500 cashback and an additional $500 for current serving Police Officers with a minimum $150k in new loans or top up of existing loans for applications by 30 October 2020 and funded by 25 December 2020.

*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.

Details

Rates and fees information correct as at 19 September 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.34% p.a.

  • n/a

  • n/a

  • n/a

  • 3.42% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $545.00

  • $450.00

  • $0.00

  • $0.00

  • 0%

  • $0.00

  • $294.00

Other financial bits
  • $50,000

  • none

  • none

  • 90.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $500.00

  • yes

  • yes - available for principal & interest loans

  • none

  • none

  • Receive $1,500 cashback and an additional $500 for current serving Police Officers with a minimum $150k in new loans or top up of existing loans for applications by 30 October 2020 and funded by 25 December 2020.

*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.

Customer Reviews

How are Police Bank home loans rated by the Mozo community?

Overall
8.5/10
Price
7.9/10
Features
7.9/10
Customer service
8.8/10
Convenience
7.0/10
Trust
8.9/10

Latest review of 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 8 months ago
Police Bank

About Police Bank

Police Bank has specially designed its financial products to offer financial solutions to the employees and families of the Police service. Police Bank offers a range of financial products and services in savings accounts, home, car and personal loans, term deposits, credit and debit cards and a range of insurance products, ensuring that its members financial needs are taken care of.

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*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.