Important disclosure

BCU Bank

OMG Home Loan

  • Owner Occupied
  • Variable
  • 40% min deposit
  • P&I
Interest Rate

5.99%

p.a

Comparison Rate*

6.00%

p.a

Real Time Rating™
Tags
  • Owner Occupied
  • Variable
  • 40% min deposit
  • P&I
Interest Rate

5.99%

p.a

Comparison Rate*

6.00%

p.a

ly Repayment

$0

based on $150,000 loan amount for 30 years at 5.99%

OMG Home Loan

Find your ideal home loan from one of the 4 home loans from BCU Bank

Principal and Interest (P&I)

Loan typeLoan to value ratio
Interest rate
Comparison rate
Variable
Up to 60%

5.99% p.a.

6.00% p.a.

Product Info
Variable
Up to 80%

6.09% p.a.

6.10% p.a.

Product Info
Variable
Up to 95%

6.29% p.a.

6.30% p.a.

Product Info

Interest only

Loan typeLoan to value ratio
Interest rate
Comparison rate
Variable
Up to 80%

6.99% p.a.

6.35% p.a.

Product Info

BCU Bank Variable Rate Home loan overview

For OMG Home Loan (Principal and Interest)

Details

Maximum LVR

60%

Total Repayments

Interest rate type

Variable

Borrowing range

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 BCU Bank to view Target Market Determination.

Features

Extra repayments

Unlimited

Redraw facility

Redraw fee: $0

Split interest facility

Loan portability

Repayment holiday available

Allow guarantors

Available for first home buyers

Other benefits

Fees

Total estimated upfront fees

$0

Application fee

$0

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$0

Discharge fee

$395

Pros and cons

For OMG Home Loan (Principal and Interest)

Benefits

  • Interest rates ranked in the best 20%
  • No upfront or ongoing fees
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option

Drawbacks

  • No offset account
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 60% of the property's value
  • No repayment holidays
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  • Owner Occupied
  • Fixed undefined year
  • 5% min deposit
  • P&I

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Interest Rate

6.30%

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Comparison Rate*

6.58%

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  • Owner Occupied
  • Fixed undefined year
  • 10% min deposit
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Interest Rate

7.24%

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Comparison Rate*

7.24%

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Interest Rate

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p.a

Comparison Rate*

6.58%

p.a

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $100k to $1,500,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 60 percent, which means it requires a minimum deposit of 40 percent

What's the maximum length for this loan?

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

How often can you make repayments?

BCU 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 $0 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

How do you apply for this loan?

To apply for this loan, please contact BCU Bank.