SCU Fixed Interest Loan


The SCU Fixed Interest Loan is ideal if you’re looking for a fixed interest rate to take advantage of having set repayments for a period of up to five years.

While very low fixed rates are available, they do range up to being moderately high depending on the fixed term you choose and if you’re an owner-occupier or investor.

Though, the split loan feature gives you the ability to split your loan between a fixed and variable interest rate. You can also choose to repay your loan in weekly, fortnightly or monthly installments.

And, if you’re looking to reduce the length of your loan, and therefore the total amount you pay in interest, you can make up to a certain amount allowed by SCU in additional repayments per year during your fixed term and can access these funds through the redraw facility if need be.

However, this option is not further complemented by a 100 per cent offset account.

Loan repayment insurance is offered on the Fixed Interest Loan to cover for you if you can no longer make your repayments, though there are separate conditions and costs for this insurance option.

There is only a small deposit requirement for this loan, which can be as equally attractive to investors as it is to first home buyers. However, if your loan is over 80 percent of your property’s value, meaning your deposit is less than 20 per cent, you will have to pay lenders mortgage insurance and there is a minimum borrowing amount that you have to meet to take out this loan.

Who is the SCU Fixed Interest Loan good for?

This loan is ideal for borrowers looking for a low maintenance home loan that gives them the certainty of fixed repayment amounts. Refinancers might not benefit as much as the upfront fee is quite high, though this loan is available to both owner-occupiers and investors.

Review - What RateCity says

While this SCU Fixed Interest Loan is available to owner-occupiers and investors, the lack of interest-only repayments and offset account is something to take note of.

That aside, this loan does have some flexibility, which can be appealing no matter your borrowing needs.

However, it comes down to exactly what you’re looking for in a loan and your own specific needs in order to determine if this loan meets your criteria and is your most cost-effective option.

SCU Fixed Interest Loan Options

The SCU Fixed Interest Loan is ideal for owner-occupiers and investors looking to lock in a fixed interest rate and take advantage of set repayments for a period of up to five years. Click the corresponding links an option that suits you.

Fixed Rates from


Advertised rate


Comparison rate
  • Very low fixed interest rates available.
  • No ongoing fees.
  • Early repayments and redraws allowed.
  • Moderately high upfront cost.
  • No 100 percent offset account.
  • Discharge fee.

Must be a member of SCU.

Must be able to provide proof of income and employment.

Must be able to provide a list of assets and liabilities.

Must be able to provide proof of identity.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Estimated upfront fees: $695
  • Discharge fees: $180
  • Ongoing fees: $0

The SCU Fixed Interest Loan has a high upfront establishment fee and a discharge fee payable when the loan ends. There are no ongoing monthly or annual fees, there is however a fee for using the redraw facility.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About SCU

SCU, a customer-owned credit union, filters its profits back to customers through offering lower rates and fees and customer service in-branch, over the phone and online. Though, branch locations are limited throughout New South Wales.

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