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The Capricornian Home Loans

The Capricornian is a credit union based in Central Queensland offering a full range of financial products and services. To bank with The Capricornian, you need to be a member, however unlike banks, the profits of credit unions are reinvested into the business and members, who also get a say in how the credit union is run. The credit union meets the same regulatory standards as banks and is a prudent and strong financial service provider.

The Capricornian Premium Choice Loan

This home loan package rewards borrowers with substantial interest rate discounts, with the lowest rate offered on loans over $500,000. You don’t pay any monthly fees and you can bundle all of your financial products into one package. You also get the option to split your loan between variable and fixed interest portions once you pay an annual fee.

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The Capricornian Lifestyle Loan

The Lifestyle Home Loan is a flexible mortgage. While the variable interest rate on this product is moderately high, this home loan features a 100 per cent offset account, extra repayments without penalty, online and mobile redraws and the option to split your loan between variable and fixed interest portions. But monthly fees apply.

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The Capricornian Access Equity Loan

This loan is a line of credit that helps you turn the equity in your home into funds you can use for any purpose you like. You can use the line of credit to conduct your day-to-day banking and you can also make unlimited extra repayments on your mortgage, with free redraws available. The loan is more flexible than a traditional principal and interest loan, but you’ll also pay a higher interest rate and monthly fees apply.

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The Capricornian Introductory Loan

This loan offers a low introductory variable interest rate for the first three years of the loan. At the end of that time, the loan converts to a variable rate with a small discount off the credit union’s standard variable interest rate. You can make extra repayments without penalty and free online and mobile redraws and there are no monthly fees. There’s also the option of interest only repayments, as well as principal and interest instalments.

View Home Loan Details

Home Loans from The Capricornian

Pros
  • Personalised service.
  • Opportunity to bundle other financial products.
  • Generous introductory rate period.
Cons
  • Must be a member and apply in branch.
  • Higher rates for smaller variable loans.
  • Limited branch access.
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Customer Service

The Capricornian has a head office in Rockhampton, Queensland, and has a few other branches in Central Queensand which you can visit five days a week. Customers are also able to conduct telephone or internet banking 24/7. They also offer access to RediATM facilities,  which includes the thousands of NAB terminals and Cashcard ATMs around Australia.

  • Customer service centre (phone)
  • ATMs
  • Mobile app
  • Online banking
  • Email inquiries
  • Queensland branches
Applying and Eligibility

The Capricornian is a member-owned financial institution and to become a member, you need to buy a share. But then you’ll become a part owner of the credit union. You’ll need to be an Australian resident to apply in person at a Capricornian branch.  Documents you need to apply for a home loan include:

  • Personal identification material.
  • Proof of income – whether you are self-employed or work for an employer.
  • Proof of other income, including rental income.
  • Information regarding your current debts, liabilities and assets.
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