BDCU Alliance Bank

5 year Fixed Rate Home Loan (Interest Only)

Advertised Rate

3.99%

Fixed - 5 years

Comparison Rate*

4.71%

Maximum LVR
80%
Real Time Rating™

1.38

/ 5
Monthly Repayment

$1,431

based on $300,000 loan amount for 25 years

Advertised Rate

3.99%

Fixed - 5 years

Comparison Rate*

4.71%

Maximum LVR
80%
Real Time Rating™

1.38

/ 5
Monthly Repayment

$1,431

based on $300,000 loan amount for 25 years

Calculate repayment for BDCU Alliance Bank product

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Loan term

years

Your estimated repayment

$1,431

based on $300,000 loan amount for 25 years

MICHAEL KIANG

5.0
7 Reviews

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Pros and Cons

Pros and Cons

    • No redraw and no offset
    • Ongoing fee
    • Maximum loan amount is limited to 80% of the property's value
    • No repayment holidays

    BDCU Alliance Bank Features and Fees

    BDCU Alliance Bank Features and Fees

    Details

    Maximum LVR

    80%

    Total Repayments

    Next LVR

    Interest rate type

    Fixed - 5 years

    Borrowing range

    Suitable for

    Owner Occupiers

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Unlimited extra repayments

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $650

    Application fee

    $650

    Valuation fee

    $0

    Settlement fee

    $0

    Other upfront fee

    $0

    Ongoing fee

    $8 monthly

    Discharge fee

    $0

    Application method

    Online

    Phone

    Broker

    In branch

    Pros and Cons

      • No redraw and no offset
      • Ongoing fee
      • Maximum loan amount is limited to 80% of the property's value
      • No repayment holidays

      BDCU Alliance Bank Features and Fees

      Details

      Maximum LVR

      80%

      Total Repayments

      Next LVR

      Interest rate type

      Fixed - 5 years

      Borrowing range

      Suitable for

      Owner Occupiers

      Loan term range

      1 - 30 years

      Principal & interest

      Interest only

      Applicable states

      ACT, NSW, NT, QLD, SA, TAS, VIC, WA

      Make repayments

      Fortnightly, Monthly, Weekly

      Features

      Extra repayments

      Unlimited extra repayments

      Redraw facility

      Split interest facility

      Loan portable

      Repayment holiday available

      Allow guarantors

      Available for first home buyers

      Fees

      Total estimated upfront fees

      $650

      Application fee

      $650

      Valuation fee

      $0

      Settlement fee

      $0

      Other upfront fee

      $0

      Ongoing fee

      $8 monthly

      Discharge fee

      $0

      Application method

      Online

      Phone

      Broker

      In branch

      FAQs

      Mortgage Calculator, Loan Amount

      How much you intend to borrow. 

      What is an ombudsman?

      An complaints officer – previously referred to as an ombudsman -looks at formal complaints from customers about their credit providers, and helps to find a fair and independent solution to these problems.

      These services are handled by the Australian Financial Complaints Authority, a non-profit government organisation that addresses and resolves financial disputes between customers and financial service providers.

      What is a valuation and valuation fee?

      A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

      How personalised is my rating?

      Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

      We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

      What factors does Real Time Ratings consider?

      Real Time RatingsTM uses a range of information to provide personalised results:

      • Your loan amount
      • Your borrowing status (whether you are an owner-occupier or an investor)
      • Your loan-to-value ratio (LVR)
      • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
      • Product information (such as a loan’s interest rate, fees and LVR requirements)
      • Market changes (such as when new loans come on to the market)

      What is the ratings scale?

      The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

      What is the average annual percentage rate?

      Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

      The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

      What is the amortisation period?

      Popularly known as the loan term, the amortisation period is the time over which the borrower must pay back both the loan’s principal and interest. It is usually determined during the application approval process.

      How is the flexibility score calculated?

      Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

      Mortgage Calculator, Deposit

      The proportion you have already saved to go towards your home. 

      Do other comparison sites offer the same service?

      Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

      Does Real Time Ratings' work for people who already have a home loan?

      Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

      What is bridging finance?

      A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

      Usually, these loans have higher interest rates and a shorter repayment duration.

      What does going guarantor' mean?

      Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.

      Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.

      Mortgage Calculator, Repayment Type

      Will you pay off the amount you borrowed + interest or just the interest for a period?

      Mortgage Calculator, Loan Term

      How long you wish to take to pay off your loan. 

      Interest Rate

      Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

      What is a construction loan?

      A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.

      What is appreciation or depreciation of property?

      The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

      Does each product always have the same rating?

      No, the rating you see depends on a number of factors and can change as you tell us more about your loan profile and preferences. The reasons you may see a different rating:

      • Lenders have made changes. Our ratings show the relative competitiveness of all the products listed at a given time. As the listing change, so do the ratings.
      • You have updated you profile. If you increase your loan amount, the impact of different rates and fees will change which loans are the lowest cost for you.
      • You adjust your preferences. The more you search for flexible loan features, the more importance we assign to the Flexibility Score. You can also adjust your Flexibility Weighting yourself, which will recalculate the ratings with preference given to more flexible loans.