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Police Bank Goldrate Home Loan

Advertiser disclosure

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 owner occupier taking out a principal & interest, interest only 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 60%

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, Interest Only)

    LVR 80%-95%

    Loan: $50,000

  • Owner Occupier (Principal & Interest, Interest Only)

    LVR 60%-80%

    Loan: $50,000

  • Owner Occupier (Principal & Interest, Interest Only)

    LVR < 60%

    Loan: $50,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 90%

    Loan: $50,000

Rate
3.09% p.a.
Comparison Rate
3.17% p.a.
Service fee
$0.00
Upfront fee
$995
Rate
2.89% p.a.
Comparison Rate
2.96% p.a.
Service fee
$0.00
Upfront fee
$995
Rate
2.79% p.a.
Comparison Rate
2.86% 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: 6 July 2021

binocular icon
What's hot
  • Variable rates from 2.89% (2.96% comparison rate*) for <80% LVR
  • 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 2.89% p.a. (2.96% p.a. comparison rate*) on loans with LVRs up to 80%, although owner occupiers could borrow as much as 95% of the property value if needed (higher rates apply). 

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 2.89% p.a. (2.96% p.a. comparison rate*) for borrowers with maximum LVRs of 80%. 

Owner occupiers with LVRs up to 95% can also access a home loan with Police Bank, although their rates start slightly higher at 3.09% (3.17% comparison rate*). 

Finally, the Police Bank Goldrate Home Loan offers its top rates to owner occupiers with LVRs below 60%, with its offer starting from just 2.79% (2.86% comparison rate*). 

Bear in mind that all of the rates mentioned above are only available to borrowers making interest-only repayments. 

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*). 

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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. 

Also if you're borrowing more than 80% of the property value, you may need to pay Lenders Mortgage Insurance

Details

Rates and fees information correct as at 28 July 2021. 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

3.09% p.a.

n/a

n/a

n/a

3.17% 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

80.00%

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 June 2021 and funded by 31 August 2021.

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 28 July 2021. 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

2.89% p.a.

n/a

n/a

n/a

2.96% 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

60.00%

80.00%

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 June 2021 and funded by 31 August 2021.

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 28 July 2021. 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

2.86% 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

60.00%

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 June 2021 and funded by 31 August 2021.

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 28 July 2021. 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 June 2021 and funded by 31 August 2021.

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

About Police Bank

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.