BankVic Home Loans

Rates and fees last updated on

Your guide to comparing home loan BankViclogodeals from BankVic

Founded in 1974 by a group of police officers, BankVic specialises in financial solutions targeted at specific professional groups like the police, health and public service. It offers a wide range of financial services and is 100% member owned.

Who is BankVic?

Loans form a major part of BankVic’s financial portfolio. BankVic mortgage experts can also help you choose the right loan option to suit your budget. Some of BankVic’s home loan features include competitive rates, easy accessibility, flexible terms and pre-approvals.

Compare BankVic Home Loans

Rates last updated August 17th, 2017
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
3.99% 4.03% $600 $0 p.a. 95% More info
BankVic Premium Package Variable Home Loan - Standard Up to $249k
Experience the package benefits of BankVic Premium Package Standard Variable Home Loan.
4.34% 4.38% $0 $375 p.a. 95% More info
BankVic Premium Package Variable Home Loan - Standard $250k-$749k
Enjoy great package benefits with BankVic Premium Package Variable Home Loan.
4.19% 4.23% $0 $375 p.a. 95% More info
BankVic Premium Package Variable Home Loan - Standard $750k+
Great savings on BankVic Premium Package Variable Home Loan - Standard $750k+.
4.09% 4.13% $0 $375 p.a. 95% More info
BankVic Premium Package Fixed Home Loan - 1 Year
Enjoy great discount on your home loan when you apply for fixed rate for 1 year.
3.87% 4.47% $0 $375 p.a. 95% More info
BankVic Premium Package Fixed Home Loan - 2 Years
Experience the package benefits of BankVic Premium Package Fixed Home Loan - 2 Years.
3.87% 4.42% $0 $375 p.a. 95% More info
BankVic Introductory 2 Years Variable Rate - (Owner Occupier)
A competitive introductory low rate with BankVic Introductory 2 Years Variable Rate.
3.79% 4.48% $600 $0 p.a. 95% More info
3.87% 4.37% $0 $375 p.a. 95% More info
BankVic Premium Package Fixed Home Loan - 4 Years
Take advantage of great benefits and discounted rate with BankVic Premium Package Home Loan.
4.44% 4.51% $0 $375 p.a. 95% More info
BankVic Premium Package Fixed Home Loan - 5 Years
Have the ease of budgeting with BankVic Premium Package Fixed Home Loan - 5 Years.
4.44% 4.51% $0 $375 p.a. 95% More info
4.19% $0 $375 p.a. 95% More info
4.34% $0 $375 p.a. 95% More info
4.09% $0 $375 p.a. 95% More info
4.59% $600 $0 p.a. 90% More info
BankVic Fixed Home Loan - 1 Year (Owner occupier)
Lock in a rate for 1 year and enjoy great savings on interest.
3.97% 4.57% $600 $0 p.a. 95% More info
BankVic Fixed Home Loan - 2 Years (Owner occupier)
Have the certainty of your repayment for 2 years.
3.97% 4.52% $600 $0 p.a. 95% More info
BankVic Fixed Home Loan - 3 Years (Owner occupier)
A 3 year fixed rate home loan which gives you ease in budgeting.
3.97% 4.47% $600 $0 p.a. 95% More info
BankVic Fixed Home Loan - 4 Years (Owner occupier)
Lock in rate for 4 years and protect yourself from rising interest cost.
4.54% 4.61% $600 $0 p.a. 95% More info
4.54% 4.61% $600 $0 p.a. 90% More info
4.64% 4.68% $600 $0 p.a. 95% More info
4.59% 4.63% $600 $0 p.a. 95% More info
4.34% 4.38% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Variable Home Loan - $250k-$749k
Borrow from $250000 up to $749999.
4.19% 4.23% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Variable Home Loan - $750k+
Borrow from $750000 up to $1000000.
4.09% 4.13% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Fixed Home Loan - 1 Year
Experience the flexibility and value for money of a package with BankVic WealthBuilder$.
3.87% 4.47% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Fixed Home Loan - 2 Years
Additional repayments available which helps you save on interest cost.
3.87% 4.42% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Fixed Home Loan - 3 Years
Pay no establishment fee with BankVic WealthBuilder$ Fixed Home Loan - 3 Years.
3.87% 4.37% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Fixed Home Loan - 4 Years
Pay no monthly account-keeping fees with BankVic WealthBuilder$ Fixed Home Loan - 4 Years.
4.44% 4.51% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Fixed Home Loan - 5 Years
Minimum loan amount is $50000.
4.44% 4.51% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Line of Credit Home Loan - up to $249k (Owner Occupier)
A low rate equity home loan that allows borrowers to borrow up to $249000.
4.34% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Line of Credit Home Loan - $250k to $749k (Owner Occupier)
Borrow from $250000 up to $749000 with this line of credit home loan.
4.59% $0 $375 p.a. 95% More info
BankVic WealthBuilder$ Line of Credit Home Loan - $750k+ (Owner Occupier)
This loans allows you to access the equity available on your home loan for a variety of purposes.
4.09% $0 $375 p.a. 95% More info
4.44% 5.16% $600 $0 p.a. 95% More info

Home loans offered by BankVic

Standard Variable Rate Home Loan

This is BankVic’s most basic home loan offering and it has a competitive variable interest rate. With a complimentary redraw facility and no ongoing management fees, this loan aims to make the most of your money. However, charges for property valuation, early repayment of loans and establishment fees do apply.

Other loan features include portability and the option to make weekly, fortnightly or monthly repayments.

Fixed Rate Home Loan

If you like to plan your budget in advance and know what your repayments will be, this fixed rate option could suit you. This loan features an additional repayment facility and flexible terms for repayment, with weekly, fortnightly or monthly payments available.

Interest on this loan is calculated on a daily basis, while optional mortgage repayment insurance is available.

Line of Credit Home Loan

The Line of Credit option is BankVic’s all-in-one solution that allows customers to unlock the equity in their home. This loan comes with a Visa debit card which is linked to your loan account and will enable you to withdraw cash or make purchases.

There is no penalty for additional repayments and the loan comes with an optional 90 days of free building insurance cover. The Line of Credit Home Loan is portable and repayments are made monthly.

Offset Variable Home Loan

This option lets you use your savings to reduce the interest you need to pay on your loan. There is no penalty for additional repayment, so you can get out of debt quicker if your budget allows.

Flexible payment options can be tailored to suit your budget, while other features include a redraw facility and loan portability.

Honeymoon 1-2 Year Discount Variable Home Loan

This option gives you a discount on BankVic’s standard variable interest rate for an introductory period, letting you pay off a larger amount of debt quicker. Other key features of this loan include zero establishment fees, a free redraw facility and flexible repayment terms.

Premium Home Package Home Loan

Depending on the amount you borrow under this package, you can also get a discount off the standard variable rate. An annual fee does apply, but the fee for switching loans between variable and fixed rates is waived. In addition, the cost of up to three standard property valuations can be waived every year as part of this package.

More about home loans

Pros and cons of BankVic home loans

Pros

  • Choice. BankVic offers several home loans to choose from, with products available for a wide range of borrowers.
  • Competitive rate of interest. BankVic’s competitive interest rates can help you save a substantial amount over the life of your loan.
  • Free redraw facility. Most BankVic loans have a free redraw facility.
  • Additional repayments. Many loans don’t include any additional fees for extra repayments every year.
  • Property investment guide. This handy BankVic tool gives you easy access to a wealth of useful advice about buying property and helps you make an informed choice

Cons

  • Non-refundable fees. Costs that may have been incurred while assessing applications, such as a securities register enquiry and additional title search, are not refundable even if the loan is not approved.

How to apply for BankVic home loans

If you’d like to apply for a BankVic home loan, please consult a mortgage broker. To apply for a loan from BankVic:

  • You must be above 18 years of age
  • You must be a BankVic member
  • You must meet the bank’s lending criteria

Documents needed to apply for a BankVic home loan

Personal information

You’ll need to supply a range of personal details, including:

  • Your driver’s licence
  • Details of your residential address
  • Proof of your previous address if you have been residing less than five years in your current address
  • Employment details, including your employer and your job title, or your business activity if self-employed

Property information

BankVic will want you to provide documentation regarding the property you are purchasing, including:

  • A copy of the contract of sale
  • Title and building plan details
  • Property valuation details

Financial information

You will need to provide financial information so the lender can determine your ability to make repayments and how much you can borrow. The information you’ll have to provide includes:

  • Details of your income and tax returns
  • Details of assets that you may own, including shares, savings, real estate, vehicles etc.
  • Details of your liabilities and other recurring expenses

Compare BankVic loans with other products on the market to make sure you end up choosing the best possible loan for you.


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This page was last modified on 13 September 2016 at 11:52am.

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