Woolworths Team Bank home loan

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On this page you can find information about Woolworths Team Bank home loans.

Woolworths Team Bank profile

  • Woolworths Team Bank is a banking service for Woolworths staff and their families, as well as anyone "with an affinity to Woolworths", like Everyday Rewards members.
  • It doesn't only offer home loans. The bank also offers other loans, as well as banking services and insurance.
  • It has home loans for owner occupiers and for investors.

Woolworths Team Bank home loan features

  • Loan period. You can borrow for up to 30 year loan terms.
  • No ongoing fees. There are no monthly or annual fees with its owner occupier home loans or its investor home loans.
  • Flexible repayments. Choose to repay weekly, fortnightly or monthly.
  • Free online redraw. You can make extra repayments and use the redraw facility for free to access that cash again.
  • 80% LVR. You can borrow up to 80% of the property value, which means you need at least a 20% deposit.

How do I apply for a mortgage from Woolworths Team Bank?

When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.

Eligibility

The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Woolworths Team Bank you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.

📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.

📄 Proof of income documents. Recent payslips can establish your income.

📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

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Lenders like Woolworths Team Bank

If you want to compare loans from lenders similar to Woolworths Team Bank, then you could look at the Big Four or some of Australia's other mid-sized lenders.

  • Big Four banks. Check out home loans from Australia's Big Four banks.
  • Macquarie. Macquarie is one of Australia's largest banks outside the Big Four.
  • Bank of Queensland. Another of Australia's larger lenders, with a wide selection of mortgages.
  • Suncorp Bank. This Queensland-based lender also provides insurance and superannuation services.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full breakdown

Sources

Rebecca Pike's headshot
Written by

Editor, Money

Rebecca Pike is Finder’s money editor, with over 7 years of experience in mortgages and personal finance. A frequent TV and radio commentator, she frequently appears on Sunrise and 7News, Today and 9News, as well as Sky News, Channel 10 and across radio and print. Rebecca previously served as Editor of Mortgage Professional Australia. She has a Master’s degree in Journalism as well as ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, which comply with ASIC guidelines. See full bio

Rebecca's expertise
Rebecca has written 267 Finder guides across topics including:
  • Home loans
  • Personal Loans
  • Car Loans
  • Cost of living
  • Budgeting
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