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  4. First Home Loan Fixed (Principal and Interest) 3 Years (LVR < 90%)

Important disclosure

Police Bank

First Home Loan

  • Owner Occupied
  • Fixed undefined year
  • 5% min deposit
  • P&I
Interest Rate

5.59%

p.a

Comparison Rate*

5.85%

p.a

Real Time Rating™
Tags
  • Owner Occupied
  • Fixed undefined year
  • 5% min deposit
  • P&I
Interest Rate

5.59%

p.a

Comparison Rate*

5.85%

p.a

Monthly Repayment

$3,097

based on $500,000 loan amount for 25 years at 5.59%

Calculate your repayments for this loan

$

Your estimated repayment

$3,097

based on $500,000 loan amount for 25 years at 5.59%

Pros and cons

For First Home Loan Fixed (Principal and Interest) 3 Years (LVR 80%- 95%)

Benefits

  • Interest rates ranked in the best 20%
  • No ongoing fees
  • Suitable for low deposits
  • Split account option

Drawbacks

  • Limited extra repayments
  • No redraw and no offset
  • Loan reverts to higher rate after fixed period
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Police Bank Fixed - 3 years Rate Home loan overview

For First Home Loan Fixed (Principal and Interest) 3 Years (LVR 80%- 95%)

Details

Maximum LVR

95%

Total Repayments

$945,462

View repayment schedule »

Interest rate type

Fixed - 3 years

Borrowing range

$50k - $2m
Calculate how much you can borrow

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Repayment type

Principal and Interest

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Repayment options

Fortnightly, Monthly, Weekly

Target Market Determination

Visit Police Bank to view Target Market Determination.

Features

Extra repayments

Yes - limited to $10000

Redraw facility

Split interest facility

Loan portability

Repayment holiday available

Allow guarantors

Available for first home buyers

Other benefits

Could be eligible for the Police Bank Reduced Fees Program.

Fees

Total estimated upfront fees

$600

Application fee

$600

Legal fee

$0

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$0

Discharge fee

$294

Other Restrictions

Early exit fee may apply.

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Comparison Rate*

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Product data updated on 22 Dec 2024

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $50k to $2,000,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 95 percent, which means it requires a minimum deposit of 5 percent

What's the maximum length for this loan?

Police Bank allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Police Bank allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $600 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

How do you apply for this loan?

To apply for this loan, please contact Police Bank.