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The Rock Building Society Home Loans

The Rock Building Society was formed in 1967 in Rockhampton, Queensland. It was listed on the Australian Securities Exchange in 1992 and is now a division of MyState Bank Limited.

The Rock has a head office in Rockhampton and branches throughout Queensland. It offers a range of financial products including home and personal loans, bank and savings accounts, term deposits, credits card and insurance.

The Rock Building Society has won a number of local business awards, such as the ANZ/Morning Bulletin Best in the Business (Finance and Banking) Award in 2007.

The Rock Building Society – Essentials Loan

The Rock Building Society Essentials Loan is a variable rate loan that lets customers borrow up to 97 per cent of the value of their property. Homebuyers can borrow a minimum of $100,000 and can make repayments on a weekly, fortnightly or monthly basis. Additional payments are also permitted and customers can access a free online redraw facility to access these payments. There is also an offset account for those wanting to use their savings to reduce interest on the loan. Discounted interest rates are also offered to those borrowing less than 80 per cent of the property value and this applies to most Rock Building Society loans. Other features include the option to make interest-only payments, split the loan up to six times, or use the loan for construction purposes.

The Rock Building Society – Fixed Rate Loan

The Rock Building Society Fixed Rate Loan gives customers a fixed interest rate for a period of one, two, three or five years. The loan has a maximum term of 30 years, with a minimum loan amount of $50,000 and customers can borrow up to 97 per cent of the property value. Limited additional repayments can be made each year and free online redraws are also available. The loan can also be paid on an interest-only basis and is also offered as a construction loan.

The Rock Building Society – Line of Credit Loan

The Rock Building Society Line of Credit Loan is a variable rate loan that gives homeowners access to the equity they own in their property. Customers can borrow up to 80 per cent of the property value as a credit loan, which can be used to fund investments, construction and other expenses. The loan has a minimum loan amount of $50,000 and has the option for up to six offset accounts and two loan splits.

The Rock Building Society – Rock Star Package Loan

The Rock Building Society Rock Star Package Loan combines a discounted variable, fixed or line of credit loan with a deposit account and lets customers borrow up to 97 per cent of their property value. The loan charges an annual fee, with a minimum loan amount of $150,000 and, as with all Rock Building Society loans, offers a discounted interest rate that varies depending upon the size of the loan deposit. Additional repayments, redraws and offset accounts are also included and fixed-rate loans can use a package deposit account that pays interest on the loan balance.

The Rock Building Society – Standard Variable Loan

The Rock Building Society Standard Variable Loan is a variable rate loan with a minimum loan amount of $50,000. Repayments can be made weekly, fortnightly and monthly and customers have the option of interest-only payments. Additional repayments and redraws are also permitted, with a minimum redraw amount of $500. There is also the option for up to six offset accounts and the loan can be split or used for construction purposes.

Home Loans from The Rock Building Society

Company
Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
The Rock Building Society
Advertised Rate3.99%

Variable

Comparison Rate4.25%
Monthly Repayment$1230

over 30 years

Details
The Rock Building Society
Advertised Rate4.19%

Variable

Comparison Rate4.26%
Monthly Repayment$1231

over 30 years

Details
The Rock Building Society
Advertised Rate4.26%

Variable

Comparison Rate4.31%
Monthly Repayment$1239

over 30 years

Details
The Rock Building Society
Advertised Rate3.74%

Fixed - 3 years

Comparison Rate4.54%
Monthly Repayment$1273

over 30 years

Details
The Rock Building Society
Advertised Rate3.98%

Fixed - 2 years

Comparison Rate4.63%
Monthly Repayment$1286

over 30 years

Details
The Rock Building Society
Advertised Rate4.33%

Variable

Comparison Rate4.70%
Monthly Repayment$1297

over 30 years

Details
The Rock Building Society
Advertised Rate4.39%

Fixed - 1 year

Comparison Rate4.70%
Monthly Repayment$1297

over 30 years

Details
The Rock Building Society
Advertised Rate4.71%

Variable

Comparison Rate4.78%
Monthly Repayment$1309

over 30 years

Details
The Rock Building Society
Advertised Rate4.74%

Variable

Comparison Rate4.81%
Monthly Repayment$1313

over 30 years

Details
The Rock Building Society
Advertised Rate4.42%

Fixed - 3 years

Comparison Rate4.84%
Monthly Repayment$1318

over 30 years

Details
Pros
  • Flexible repayment options.
  • Discounted rates given to large deposits.
  • Interest-only options.
  • Suitable for small deposits.
Cons
  • Branch access limited to Queensland.
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Customer Service

The Rock Building Society gives home loan customers a number of contact methods. These include a dedicated phone line for home loan customers, as well as a general customer line and a line for those experiencing financial hardship. Customers can also contact the Rock online or via email, or in person at one of their Queensland branches.

Customer service centre (phone)

Online banking

Email

Branch

Applying and Eligibility

Potential home loan customers at the Rock Building Society can apply for a loan in a variety of ways. There is the option to phone a home loan expert directly on a dedicated phone line, or customers can arrange for a call back via The Rock website. Applications can also be made in person at a local branch, or by appointment.

Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Proof of personal identification.
  • Details of employment and income.
  • Proof of other earnings, assets and savings.
  • Information on debts, loans, expenses and liabilities.  
  • Personal insurance documents.
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