MOVE – People Driven Banking Lockit Loan


The Lockit Home Loan from MOVE – People Driven Banking allows you – whether an owner-occupier, investor or refinancer – to secure a very low fixed rate for one or three years of your loan.

During your fixed term, you can make additional repayments towards your loan balance as long as you don’t exceed the maximum amount allowed. A downside to this option is that there is no redraw facility in case you need to access these funds again.

The interest-only period on the Lockit Home Loan gives you the option to make repayments only towards your interest during a time specified by MOVE – People Driven Banking, an option especially suited for investors.

There is no 100 per cent offset account available with this loan, which would help you to reduce your interest repayments, but if you’re looking for some added security, this loan gives you the option of taking out an insurance policy for repayment insurance which would help cover your loan repayments if you become unable to work.

At the end of your fixed term, your Lockit Home Loan will revert to one of MOVE – People Driven Banking’s variable interest rates, though the rate your offered may depend on your own finances and your borrowing amount.

Who is the MOVE – People Driven Banking Lockit Loan good for?

The Lockit Home Loan could be a good option for borrowers who are either on a tight budget or want the certainty of fixed repayments for a set period. The upfront fee and lack of offset account may be limiting, however first home buyers might be lured by the low deposit requirements and investors the interest-only option.

You must become or already be a member of MOVE – People Driven Banking to qualify for this loan, which requires you to set up a transaction account.

Review - What RateCity says

When it comes to fixed rates, the MOVE – People Driven Banking Lockit Home Loan has one of the lowest fixed rates on the market, giving it instant appeal to the range of borrowers this loan is available to.

However, you should make sure that what you stand to gain from the low fixed rate is still worth a possibly high variable rate in the absence of a 100 percent account. Knowing exactly what rate and features you will be offered and the fees you will be charged is an essential step in determining the suitability of any loan to you.

Although, this loan could end up being a great option if it meets all of your needs. The MOVE Lockit Loan lets you lock in a low fixed rate for a period of one or three years, with more information available about each at the provided links.

MOVE – People Driven Banking Lockit Loan Options

The MOVE Lockit Loan lets you lock in a low fixed rate for a period of one or three years, with more information available about each at the provided links.

Fixed Rates from


Advertised rate


Comparison rate
  • Very low fixed interest rate.
  • No ongoing fees.
  • Early repayments allowed.
  • No 100 percent offset account.
  • Entry and exit fees.
  • No redraw facility.

Must be a member of MOVE – People Driven Banking.

Must be over 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $450.00
  • Discharge fees: $150
  • Ongoing fees: $0

The MOVE Lockit Loan has a moderately high upfront establishment fee and an ongoing monthly fee. There is a small discharge fee payable when the loan ends or if you choose to refinance.

During the fixed term of the loan, you can make up to a certain amount of free extra repayments per year.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Fortnightly repayments
  • Monthly repayments
About MOVE - People Driven Banking

MOVE – People Driven Banking is a customer-owned credit union that started out as a provider of financial solutions to the railway work force. Now focused on serving members of Australia’s larger transport and logistics sectors. Branches are limited within Brisbane, but customers have access to ATMs throughout the country and internet and phone banking.

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