RateCity.com.au
Advertisement

Community First Credit Union True Loan

Features

The Community First Credit Union True Loan options give borrowers a range of options to allow them to refinance more quickly, with a low minimum deposit and no ongoing fees.

Borrowers have the option of paying weekly, fortnightly, or monthly. This gives borrowers a little more control over how they manage their money.

Borrowers can also make extra repayments at any time, without incurring a penalty. Repayments can also be redrawn at any time by borrowers.

A 100 per cent offset account is also available on the True Value Standard Loan, which allows borrowers to deposit money to directly offset the interest that they pay over the course of the loan. It should be noted that this feature not available on the True Value Basic Loan.

Who is the Community First Credit Union True Loan good for?

The Community First Credit Union’s True Loan options may suit borrowers who are looking for flexible loan options with no ongoing fees. 

Review - What RateCity says

The Community First Credit Union True Loan options provide flexibility to borrowers at a moderate interest rate. The lack of ongoing fees helps borrowers to take advantage of features such as additional repayments, while additional flexibility is offered via repayment schedules and interest rate structures. 

Community First Credit Union True Loan Options

The Community Credit Union’s True Loan offers a range of options for investment and home buying, including both variable and split interest rate loans.

Product
Advertised rate
Comparison rate*
Monthly repayment
Go To Site
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details
Details

Fixed Rates from

3.79%

Advertised rate

4.99%

Comparison rate

Variable Rates from

3.69%

Advertised rate

3.75%

Comparison rate
Pros
  • Additional repayments.
  • No ongoing fees.
  • 100 per cent offset account.
Cons
  • Offset account only available with Standard Loan.
  • Not portable.
  • Large upfront fee.
Eligibility

Australian resident.

At least 18 years of age.

Proof of income.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $990
  • Discharge fees: $300
  • Ongoing fees: $0

Borrowers signing up to either of the Community First Credit Union True Loan options are required to pay hefty upfront fees, but are free of any ongoing fees for the duration of the loan. A discharge fee is payable when borrowers have completed the loan.

Borrowers may also be required to pay lenders mortgage insurance for smaller deposits.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Community First Credit Union

The Community First Credit Union was founded in 1959 as the Sydney Water Board Officers Credit Union. It now has branches in Sydney and the Central Coast region.

Compare your product with the big 4 banks, or add more products to compare