Circle Alliance Bank was founded in 1963 and specialises in providing loans for a variety of purposes.
Circle Alliance Bank was founded in 1963 and specialises in providing loans for a variety of purposes.The institution has three types of home loans available: fixed interest home loans, variable interest home loans and line of credit home loans.
Who is Circle Alliance Bank
Circle Alliance Bank has been providing services to its members since 1963. As a credit union it is owned and operated by its own members, and Circle now has around 5000 members across Australia. It provides many standard banking services such as savings accounts, credit cards, a variety of loans and financial advice. Home loans, personal loans and car loans are all on offer, so read on for details of Circle Alliance Bank's home loan offerings.
Home loans provided Circle Alliance Bank
Fixed Rate home loan
This fixed interest home loan provides the option of locking in the repayment amount for a set period of time, before it then reverts to a principal and interest loan. This gives you the confidence of knowing exactly what your repayments will be during the fixed period. A redraw facility is offered on this loan and there are no monthly fees, but an application fee does apply.
Standard Variable home loan
This loan gives you a simple solution to purchasing your home and is suitable for home buyers and investors. Available as principal and interest or interest-only, this loan comes with a redraw facility and no monthly fees. An application fee applies, while construction payments are also available.
Line of Credit home loan
The Line of Credit Home Loan is a flexible product that permits members to increase their payments and draw down on funds available during the period of the loan. There are no monthly fees attached to this loan and an interest-only option is available. An application fee and redraw fees apply.
About how to compare home loans
Pros and cons of Circle Alliance Bank home loans
Pros
- Experience. Circle Alliance Bank has been offering financial solutions to its members for five decades, so you can feel safe and secure in the knowledge that you are dealing with a respected and experienced institution.
- No monthly fees. None of Circle Alliance Bank's three home loans require you to pay monthly fees, which helps ensure that you make the most of your money.
Cons
- Application fees.All of Circle's home loans attract an application fee.
How to apply for a Circle Alliance Bank home loan
You can find out more about a Circle Alliance Bank home loan by speaking to a mortgage broker you can organise an obligation-free discussion with a mortgage broker to learn more about your finance options and how a loan from Circle Alliance Bank can benefit you.
Home loans are available to Australian permanent residents or citizens only, so you'll need a passport to prove this. Other forms of identification normally required include utility bills confirming your address and a driver's licence. The applicant's credit rating will need to be assessed before a loan can be approved. Proof of employment and income will need to be provided during the application process. Examine Circle Alliance Bank's home loan options and compare them with other products on the market. Make sure to do plenty of research before settling on a home loan to make sure you get the best possible deal.
