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UniBank Home Loans

UniBank is a customer-owned institution, which merged with Teachers Mutual Bank in 2015.

UniBank’s predecessor, Uniredit, opened its doors in 1964 in Western Australia. While it was originally established to service University of WA employees, it now offers loans and other financial services to all Western Australian residents. Its product range includes savings accounts, investment and personal loans, home loans, financial planning services and insurance services.

UniBank’s customers are also its shareholders and have a say in how it is run.

UniBank - Classic Home Loan

UniBank’s Classic Home Loan is a variable rate loan designed for owner-occupiers. The minimum borrowing amount is $150,000 and the maximum borrowing amount is $1,000,000. Borrowers need at least a 15 per cent deposit to qualify for this loan. There is no monthly fee and borrowers have the flexibility to make unlimited additional repayments, which they can then access through a free redraw facility. There is no offset account available with this loan and borrowers are required to pay moderate upfront costs.

UniBank - Interest Only Loan

The UniBank Interest Only Loan comes with a 100 per cent offset account and borrowers also have the ability to make additional repayments, which can be redrawn through the redraw facility. The loan can be split between fixed and variable rates for borrowers who wish to make the best of both worlds. There is no monthly fee with this loan, but borrowers must pay moderate upfront costs. The minimum borrowing amount is $25,000 and borrowers require at least a five per cent deposit.

UniBank - My First Home Loan

The UniBank My First Home Loan is a variable rate loan with an interest rate discount. It comes with a credit card and discounts on certain other financial products. Its other features include a 100 per cent offset account, a free redraw facility and 40-year loan term. Borrowers have the option to split the loan between fixed and variable rates. Interest-only payments are also available for a period of time.

UniBank - Solutions Plus Loan

UniBank’s Solutions Plus Home Loan is available to both investors and owner-occupiers who are looking for loans above $150,000. While the Solutions Plus Loan is a variable rate loan, it can be split with a fixed rate. Other features include free additional repayments, a 100 per cent offset account if elected and a redraw facility.

UniBank - Teachers Fixed Option Loan

The Fixed Option Loan is a fixed interest rate loan for up to five years. After the fixed term ends, it reverts to a variable rate. The loan comes with a 100 per cent offset account and the minimum borrowing amount is $25,000. It can also be split with a variable rate loan for borrowers who want the best of both worlds. Borrowers need a deposit of at least five per cent.

UniBank - Teachers Flexi Choice Loan

This loan is offered to owner-occupiers and can also be used to purchase land for building a property. Features include a 100 per cent offset account, a redraw facility and additional repayments at no extra charge.

Home Loans from UniBank

Company
Product
Advertised Rate
Comparison Rate
Monthly Repayment
Go To Site
UniBank
Advertised Rate3.91%

Variable

Comparison Rate3.96%
Monthly Repayment$1188

over 30 years

Details
UniBank
Advertised Rate3.99%

Fixed - 5 years

Comparison Rate4.77%
Monthly Repayment$1307

over 30 years

Details
UniBank
Advertised Rate4.78%

Variable

Comparison Rate4.78%
Monthly Repayment$1309

over 30 years

Details
UniBank
Advertised Rate4.57%

Variable

Comparison Rate4.82%
Monthly Repayment$1315

over 30 years

Details
UniBank
Advertised Rate3.99%

Fixed - 4 years

Comparison Rate4.85%
Monthly Repayment$1319

over 30 years

Details
UniBank
Advertised Rate3.74%

Fixed - 3 years

Comparison Rate4.88%
Monthly Repayment$1324

over 30 years

Details
UniBank
Advertised Rate3.99%

Fixed - 2 years

Comparison Rate5.05%
Monthly Repayment$1350

over 30 years

Details
UniBank
Advertised Rate3.99%

Fixed - 1 year

Comparison Rate5.16%
Monthly Repayment$1367

over 30 years

Details
UniBank
Advertised Rate5.23%

Variable

Comparison Rate5.28%
Monthly Repayment$1385

over 30 years

Details
UniBank
Advertised Rate5.23%

Variable

Comparison Rate5.28%
Monthly Repayment$1385

over 30 years

Details
Pros
  • Flexible home loan products.
  • Mobile lenders who come to you.
  • Competitive interest rates.
Cons
  • Moderate to high upfront fees and costs.
  • Small branch network.
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Customer Service

While there are only a few bricks and mortar branches, UniBank customers can also bank online and use phonebank 24/7. Customers of UniBank also have access to the RediATM network of ATMs across Australia.

Customer service call centre (phone)

Online banking

Email

Branch (minimal branch network on the West coast of Australia)

Mobile banking staff

Applying and Eligibility

Applications can be made online, with the support of a one of UniBank’s home loan specialists.

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 may include:

  • Personal identification material.
  • Proof of income or employment.
  • Credit history details.
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