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BankVic Introductory 2 Year Variable Rate Home Loan

The Introductory 2 Year Variable Rate home loan from BankVic offers a low rate for the first two years, plus flexible repayment options and a redraw facility.

BankVic's Introductory 2 Year Variable Rate home loan is a mortgage for homebuyers that comes with a special introductory rate. You can borrow up to 95% of your property's value, meaning you can get the loan with a 5% deposit (but you may have to pay a lenders mortgage insurance premium).

Eligibility. Please note that BankVic loans are only available for eligible Victorian residents who are employees of police, health, emergency services and public service organisations, plus their families.

Interest Rate Max Insured LVR Max LVR
(Owner Occupier, P&I)
2.89% p.a.
Comparison Rate
3.74% p.a.
95% 80%
Product NameBankVic Introductory 2 Year Variable Rate
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$120,000
Maximum Loan Amount$3,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest
Application Fee$600
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$295


  • Competitive rates
  • Redraw facility


  • There is a $295 discharge fee

What do I need to know about this loan?

This is a flexible variable rate home loan. BankVic offers a low rate for the first two years as a special introductory offer. The loan doesn't come with an offset account but it does have a redraw facility.

What are the features and benefits of the BankVic Introductory 2 Year Variable Rate home loan?

  • Loan amount. This loan lets you borrow up to $3,000,000.
  • Repayment flexibility. You can make monthly, weekly or fortnightly repayments and unlimited extra repayments.
  • Portability. Because this loan is portable, it's easy to transfer the mortgage to a new property when upgrading or moving home.
  • Split and redraw. This loan has split and redraw facilities.

What fees and charges come with this loan?

The BankVic Introductory 2 Year Variable Rate home loan only has a few fees to be aware of. These include:

  • Application fee: $600. You pay this fee when applying for the loan.
  • Discharge fee: $295. You pay the discharge fee when you end the home loan.
  • Switching fee: $200. You only pay this fee if switching from one BankVic mortgage to another.

How do I apply for this loan?

To apply for this product or to get more information, click the green "Go to site" button and leave your details on BankVic's website. Then a BankVic mortgage specialist will get in touch and you can start your application.

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BankVic Introductory 2 Year Variable Rate

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR


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