Compare
Compare our owner-occupier home loans
For a 30 year loan term
Variable Rate
5.60p.a.
Variable rate
5.61p.a.
Comparison rate
$1,148/mth repayments
Paying off P&I
Owner-occupier home loan
$0 establishment fee
$0 ongoing or annual fees
Flexible repayments weekly, fortnightly or monthly
Unlimited additional repayments
Redraw available (min $50)
LMI waivers available for up to 90% LVR*
Terms and conditions apply
*More info
Eligibility
BankVic members 18 years and over. Approval is subject to meeting BankVic's credit assessment.
LMI waivers
Police, emergency and health workers may borrow up to 90% LVR (Loan to Value Ratio) and pay no LMI (Lenders Mortgage Insurance) for certain home loan purposes (e.g., owner occupied property purchase), property type and location. Terms and conditions apply, refer to your BankVic lender for more information.
Loan terms
Owner-occupier variable rate home loan with principal & interest (P&I) repayments. Maximum 30 year loan term.
Available for construction and bridging loans
This rate is available for construction and bridging loans, on an interest only term for up to 24 months for construction loans and 12 months for bridging loans. Once construction is complete, or the existing property is sold and settled, repayments revert to principal & interest for the remainder of the loan term.
Key documents you should consider
Key fact sheets
Target market determination
Home Loan terms & conditions
BankVic credit guide
Offset Variable Rate
5.64p.a.
Variable Rate
5.65p.a.
Comparison Rate
$1,153/mth repayments
Paying off P&I
Owner-occupier home loan
$0 establishment fee
$0 ongoing or annual fees
Flexible repayments weekly, fortnightly or monthly
Unlimited additional repayments
Offset & Redraw available
LMI waivers available for up to 90% LVR*
Terms and conditions apply
*More info
Eligibility
BankVic members 18 years and over. Approval is subject to meeting BankVic's credit assessment.
LMI waivers
Police, emergency and health workers may borrow up to 90% LVR (Loan to Value Ratio) and pay no LMI (Lenders Mortgage Insurance) for certain home loan purposes (e.g., owner occupied property purchase), property type and location. Terms and conditions apply, refer to your BankVic lender for more information.
Loan terms
Owner-occupier offset variable rate home loan with principal & interest (P&I) repayments. Maximum 30 year loan term.
Linked Offset account
Link your BankVic everyday transaction account to your offset variable rate home loan which may help reduce the amount of interest you pay on your mortgage.
Key documents you should consider
Key fact sheets
Target market determination
Home Loan terms & conditions
BankVic credit guide
Fixed Rates
4.98p.a.
2 year fixed rate
5.53p.a.
Comparison rate
$1,071/mth repayments
Paying off P&I
Owner-occupier home loan
$600 establishment fee
$0 ongoing or annual fees
Additional terms available between 1 and 5 years
Additional repayments limited to $10k per year
Offset & Redraw not available
LMI waivers available for up to 90% LVR*
Terms and conditions apply
*More info
Eligibility
BankVic members 18 years and over. Approval is subject to meeting BankVic's credit assessment.
LMI waivers
Police, emergency and health workers may borrow up to 90% LVR (Loan to Value Ratio) and pay no LMI (Lenders Mortgage Insurance) for certain home loan purposes (e.g., owner occupied property purchase), property type and location. Terms and conditions apply, refer to your BankVic lender for more information.
Loan terms
Fixed rate home loan with principal & interest (P&I) repayments for a set term of up to 5 years. Upon expiry of the fixed rate term, the interest rate will revert to BankVic's Variable rate (P&I) applicable at that time. Maximum 30 year loan term.
Key documents you should consider
Key fact sheets
Target market determination
Home Loan terms and conditions
BankVic credit guide
Rates & fees
Check out our rates & fees
- Variable RateBase Rate (% PA)Comparison Rate (% PA)Variable Rate (P&I)5.60%5.61%
(1) This owner-occupier variable rate home loan is for new borrowings and refinances from other financial institutions outside of BankVic. Offset account not available. Approval subject to BankVic's credit assessment.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for our home loans are based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rates have been calculated on a loan amount of $150,000 over a term of 25 years.
Offset Variable RateBase Rate (% PA)Comparison Rate (% PA)Offset Variable Rate (P&I)5.64%5.65%(1) This owner-occupier offset variable rate home loan is for new borrowings, existing BankVic loans requesting to take advantage of the offset feature and refinances from other financial institutions outside of BankVic. Approval subject to BankVic's credit assessment. An eligible offset account must be linked to the offset variable home loan.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for our home loans are based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rates have been calculated on a loan amount of $150,000 over a term of 25 years.
Fixed RatesBase Rate (% PA)Comparison Rate (% PA)1 year fixed rate (P&I) for owner-occupiers5.49%5.64%2 year fixed rate (P&I) for owner-occupiers4.98%5.53%3 year fixed rate (P&I) for owner-occupiers4.98%5.48%4 year fixed rate (P&I) for owner-occupiers5.65%5.66%5 year fixed rate (P&I) for owner-occupiers5.65%5.67%(1) Fixed rates apply for owner-occupied loans with principal and interest repayments, at the end of the Fixed Rate period the interest rate will revert to our variable rate applicable at that time. You can make up to $10,000 pa in additional payments without incurring any penalty cost, any amounts exceeding $10,000 may incur a break cost. Please see the fees and charges guide for more information. Approval subject to BankVic's credit assessment.
WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for our home loans are based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rates have been calculated on a loan amount of $150,000 over a term of 25 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rate for our home loan is based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rate has been calculated on a loan amount of $150,000 over a term of 25 years. - Establishment Fee: may be charged when you setup a home loanFee TypesFeesSet-up fee$300Standard metro valuation$300Top-up fee$200Other fees that may be charged when you setup a home loanFee TypesFeesNon-standard valuation (1)At cost (for country, interstate and high value properties)Progressive inspection feeUp to $150 per inspectionProduction of title (held by BankVic)$330Title searchUp to $25 per searchBankVic representation at settlement$99Financial institution chequeFreeTransfer via Real Time Gross Settlement (RTGS)$15 per transaction. Waived only for BankVic home loan settlements.
(1) Some country and interstate areas may incur a valuation fee up to $1,000. In addition to the above valuation costs, a commercial loan may incur additional costs. These costs will be available upon application. Any valuation cost that is additional to the Establishment Fee, will be payable in full at the same time the Establishment Fee is due.
Fees that may be charged after taking out a home loanFee TypesFeesSecurity substitution and loan portability$400Loan switching$200Discharge fee$295 per lodgementThird party fees (1)At costRedraw (2)FreeFixed Rate early repayment and break costs (3)UnascertainableAnnual fee for Premium Home and WealthBuilder$ Packages (4)$375(1) Fees payable if we incur a fee from any third party, including our solicitor or PEXA, as result of any matter relating to your Loan Contract or Security following the Settlement Date.
(2) Only available with variable rate home loans. Minimum transaction is $50.00.
(3) Break costs are an amount equal to our reasonable estimate of our loss as a result of you breaking the fixed interest period. If during a fixed interest period you repay the loan or change from a fixed interest rate loan to a variable interest rate loan or change from one fixed interest loan to another or pay more than $10,000 of the money owing before it is due in a calendar year, then break costs may be applied. Refer to the terms of your Loan Contract for full terms and conditions and calculation details.
(4) Premium Home and WealthBuilder$ Packages are no longer for available for new borrowings or refinances.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rate for our home loan is based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rate has been calculated on a loan amount of $150,000 over a term of 25 years.
Eligibility
Membership Eligibility
To be eligible for a BankVic home loan you need to be a member of BankVic. You can apply to become a member of BankVic as part of your home loan application.
You can become a member if you are an Australian citizen or resident and either:
- you are a member of a police force
- you are a person involved in emergency services, health work, or the government departments
- immediate family of one of the above BankVic members
When you join BankVic you become a member and equal shareholder in a 100% member-owned bank. Your membership shares cost $10 upon joining.
As the bank for the police, emergency services, and health workers, our profits are reinvested to provide better value banking and to support our community.
Core members are members whose primary income is derived from any of the professions as outlined below:
- Police - any police, protective service officer, police custody officer employees of any State or Territory police force, or Australian Federal police employee and any member of The Police Association of Victoria (TPAV) or Australian Federal Police Association (AFPA).
- Emergency Services - any employee or volunteer of any Ambulance, Fire & Rescue, Rural Fire, State Emergency Services (SES), Triple Zero organisations in any State or Territory and any member of the Victorian Ambulance Union (VAU).
- Health - any health practitioner who is registered with the Australian Health Practitioner Regulation Agency (AHPRA), as well as any employee of any private or public hospital in any State or Territory.
- Government Departments - any employee of any State, Territory or Federal government department.
- BankVic Employee - an employee of BankVic.
All members not covered by any of the definitions above will be considered Non-Core.
What to expect
Here with you at every step
1. Start your application
Apply online, in branch, over the phone or with one of our mobile bankers to get your home loan journey underway.
2. Review your application
Once we have received your application, one of our lending consultants will be in contact to review your application with you and let you know if any additional information is required to help with our assessment.
3. Conditional Assessment
When we have received all the required information, we will assess your application and if all is in order, provide you with conditional approval.
4. Unconditional Approval
Together we’ll make sure everything is finalised and verified, you will then receive a loan offer and contract to sign.
5. Settlement
When we have received your signed loan documents, a settlement date will be confirmed and on the agreed date, we will draw down funds to pay for your property or pay out your old loan.
With you every step
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Financial well-being
Owner-occupied
- Read more
How to save on your home loan
Easy ways to pay your loan off faster Think about potential savings you could make from refinancing Consider switching between a variable rate or fixed rate
- Read more
Thinking of refinancing your home loan?
How much could refinancing save you? Could you refinance to unlock the equity in your property? Would you benefit from a longer or shorter loan term? Is refinancing worth your time and effort? Would you benefit from a different loan product?
Terms and conditions
Important things you should know
Information on this page is general in nature and does not take into account your personal circumstances. You should consider whether it is appropriate for you before acquiring the product or service.
Fees and charges may apply. Interest rates are variable and subject to change. Information on our terms & conditions, interest rates and fees & charges are available on request.
We recommend that you read the following documents: