As the name suggests, UniBank is focused on finding finance solutions for people employed or involved in the higher education sector, as well as their families. It's a member owned bank, channeling profits back into great banking products for customers - which could include you. Check out the details of UniBank’s home loans below.
Rates and fees verified as correct at 23 June, 2017. Other information correct at the time of writing.
After a simple, no-frills home loan option? Check out the fixed rate home loan on offer from UniBank. You can borrow between $25,000 and $5,000,000, up to 95% of the property’s value. Options to tailor your loan to suit you include choosing between weekly, fortnightly and monthly repayments and the chance to split your loan between fixed and variable rates. You’ll also have the use of an offset account. But keep in mind, there are upfront settlement and application fees to budget for.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 5.00% p.a. | 5.31% p.a. | $0.00 | $750 | ||
| 4.60% p.a. | 5.20% p.a. | $0.00 | $750 | ||
| 4.70% p.a. | 5.23% p.a. | $0.00 | $750 | ||
| 4.30% p.a. | 5.12% p.a. | $0.00 | $750 |
If you’re after a more flexible mortgage solution, opt for one of UniBank’s variable rate home loans. The standard offer is available for up to 85% of the property’s value, starting from $150,000, while the Flexi and First Home Buyers options are available for up to 95% of the property’s value, starting from $25,000. You’ll have the ability to make unlimited free extra repayments on all the offers, as well as a free redraw facility and the chance to take a repayment holiday. The Flexi and First Home Buyers offers also include the option to split your loan between fixed and variable rates, as well as the use of an offset account. You’ll pay application and settlement fees for all this, except on the First Home Buyers offer, which is free of upfront fees.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.14% p.a. | 4.19% p.a. | $0.00 | $750 | ||
| 5.36% p.a. | 5.41% p.a. | $0.00 | $750 | ||
| 5.36% p.a. | 5.41% p.a. | $0.00 | $750 | ||
| 4.91% p.a. | 4.91% p.a. | $0.00 | $0 |
Different rate tiers apply to different loan amounts when you take out a UniBank variable rate home loan package, with amounts starting from $150,000, and going up to 95% of the property’s value. The mortgage package includes great features, like unlimited free extra repayments, a free redraw facility, the chance to take a repayment holiday and the use of an offset account. You can also choose between weekly, fortnightly or monthly payments, and can split your loan between fixed and variable rates. The UniBank rewards package includes great perks like discounts on your insurance covers, bonus interest on term deposits, and waived fees on both personal loans and everyday access accounts. To be eligible for the rewards package, you need to be registered to use UniBank online banking, and have a UniBank Everyday account that you deposit at least $2,000 a month into. Keep in mind there are application and settlement fees, plus a yearly service fee to consider.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.24% p.a. | 4.49% p.a. | $200.00 yearly | $750 | ||
| 4.20% p.a. | 4.45% p.a. | $200.00 yearly | $750 | ||
| 4.17% p.a. | 4.42% p.a. | $200.00 yearly | $750 | ||
| 4.15% p.a. | 4.40% p.a. | $200.00 yearly | $750 | ||
| 4.84% p.a. | 5.08% p.a. | $200.00 yearly | $750 | ||
| 4.54% p.a. | 4.79% p.a. | $200.00 yearly | $750 | ||
| 4.34% p.a. | 4.59% p.a. | $200.00 yearly | $750 | ||
| 4.27% p.a. | 4.52% p.a. | $200.00 yearly | $750 | ||
| 4.05% p.a. | 4.30% p.a. | $200.00 yearly | $750 | ||
| 4.22% p.a. | 4.47% p.a. | $200.00 yearly | $750 | ||
| 4.09% p.a. | 4.34% p.a. | $200.00 yearly | $750 | ||
| 4.07% p.a. | 4.32% p.a. | $200.00 yearly | $750 | ||
| 5.10% p.a. | 5.34% p.a. | $200.00 yearly | $750 | ||
| 4.80% p.a. | 5.04% p.a. | $200.00 yearly | $750 | ||
| 4.77% p.a. | 5.01% p.a. | $200.00 yearly | $750 | ||
| 4.70% p.a. | 4.94% p.a. | $200.00 yearly | $750 |
| Split rate loan optionSplit rate loan option | Not sure whether to opt for security or flexibility? Have the best of both worlds by splitting any UniBank home loan between fixed and variable rates. |
| Low depositLow deposit | Many UniBank home loan offers are available with an LVR as high as 95%. But keep in mind that, as with any other bank, if your LVR is above 80% you’ll have to budget for Lender’s Mortgage Insurance as well. |
| Offset accountOffset account | Cut down on interest costs by stashing your savings in an offset account. Remember, this feature isn’t available on fixed rate home loans, or the standard variable rate offer. |
| Flexible repayment scheduleFlexible repayment schedule | Choose to make your repayments weekly, fortnightly or monthly, whatever suits your schedule best. |
Find out how UniBank customers rank their home loan experience in terms of things like convenience, trust and customer service with our customer review section.
* Overall rating based on reviews in the past 12 months.
I do not think Unicredit looks after existing customers very well. I tried to change the interest rate to fixed rate, they told me to come in to their office and I did, but the documents were not ready, never received any apologies or information...
I do not think Unicredit looks after existing customers very well. I tried to change the interest rate to fixed rate, they told me to come in to their office and I did, but the documents were not ready, never received any apologies or information after that. Their website is not very user friendly. In the end we decided to switch the banks. Although our new bank tried to settle the transfer, they did not answer, did not try to assist the process. It has been more than 4 weeks now, we are still waiting. When they found out that we were switching the banks, they tried to match the rate, but it was too late. We have already found out they are no good for the existing customers, our decision did not change. They should know that we have choices and should look after the existing customers as well as new customers.
Kayla (WA), reviewed over 2 years ago
I joined Unicredit over thirty years ago and have been with them ever since. They are small and local, yet innovative. They are trustworthy and efficient to an unprecedented level. In over three decades, they have not once made an error, neglected...
I joined Unicredit over thirty years ago and have been with them ever since. They are small and local, yet innovative. They are trustworthy and efficient to an unprecedented level. In over three decades, they have not once made an error, neglected to send a statement, ignored a request or done any of the things that are unfortunately so common in so-called "customer service" today. The most spectacular thing about them is that when I was a single, twenty-one year old woman, and wanted to buy a house on my own, they happily gave me a mortgage. Every other bank, building society and credit union turned me down unless I provided them with a male guarantor, despite the fact that I had a full-time, stable, permanent job. This shows that they have always been ahead of their time. Since then, I've had savings accounts, cheque accounts, credit cards, debit cards, and insurance with them. I have remained loyal to them, and they have never let me down.
Christine (WA), reviewed over 4 years ago
Setting up the account was fairly straight forward and the customer service in this respect was great. ATM network is okay with rediteller being widely available but branch access is not great. Not a huge problem for me. I signed up for the...
Setting up the account was fairly straight forward and the customer service in this respect was great. ATM network is okay with rediteller being widely available but branch access is not great. Not a huge problem for me. I signed up for the equity access account at 6.2% and a couple of months on the RBA cut rates by 0.25%. Unicredits answer to this was to increase my rate to 6.50%!!! No warning, no letter and no response to my query on why the interest rate went up when the cash rate went down. Very disappointed with this action as such a drastic move has considerable interest implications. A simple letter would have been appreciated. The rate is still decent in comparison to other lenders but I find it very hard to take that an unannounced rate increase is justified in this case. The slogan on the website 'Lower rates. Pass it on.' is not applicable here. I don't believe any other lender has increased their rates!
Tango (WA), reviewed over 4 years ago
I previously had a home loan with the ANZ, and have been so much happier with Unicredit. With the ANZ, I was paying $8 every month in account fees on top of interest charges, but with Unicredit I only pay interest - there are no ongoing fees. And...
I previously had a home loan with the ANZ, and have been so much happier with Unicredit. With the ANZ, I was paying $8 every month in account fees on top of interest charges, but with Unicredit I only pay interest - there are no ongoing fees. And whenever interest rates go down, Unicredit reduces their interest rates too, and don't always increase them when they go up. They really do put customers first.
Simone (WA), reviewed about 5 years ago
We wanted to do an extension to our house and this happened just when we were going on study leave and long service leave. We were able to pay our mortgage payments in advance for the period which cut back our interest payments. We were able to...
We wanted to do an extension to our house and this happened just when we were going on study leave and long service leave. We were able to pay our mortgage payments in advance for the period which cut back our interest payments. We were able to remotely extract the payments for the extension as we needed them. What other financial organisation is this considerate?
Clive (WA), reviewed about 5 years ago
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* 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.
To take out a home loan with UniBank, you need to be a member, and to do that, you need to be a current or retired employee, graduate, post-graduate or current student of an Australian University or a family member of a member. Plus, you need to be an Australian citizen. You’ll pay a small fee to become a shareholder when you sign up.
Then you can look at applying for a home loan, for which you’ll need:
