- Home
- Home Loans
- Police Bank
- First Home Loan Fixed (Interest Only) 3 Years (LVR < 90%)
First Home Loan
- Owner Occupied
- Fixed 3 years
- 5% min deposit
- Interest Only
Interest rate p.a.
5.59%
Comparison rate* p.a.
5.85%
First Home Loan
- Owner Occupied
- Fixed 3 years
- 5% min deposit
- Interest Only
Interest rate p.a.
5.59%
Comparison rate* p.a.
5.85%
Calculate your repayments for this loan
$
Your estimated repayment
$2,329
based on 500000 loan amount for 25 years at 5.59%
Monthly Repayment
$2,329
Total interest
$872,250
Total payments
$872,250
Start date
04-2024
End date
04-2049
$872,250
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For First Home Loan
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 (Interest Only) 3 Years (LVR 80%- 95%)
Details
Maximum LVR
95%
Total repayments
$872,250
Interest rate type
Fixed - 3 years
Borrowing range
$50k - $2m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Interest only
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
Allowed with restrictions
Redraw facility
Offset account
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.
