P&N Bank Equity Access Loan


The P&N Bank Equity Access Loan lets you unlock the equity in your bricks and mortar to use for other things like a new car, holiday, renovation or investment.

This Equity Access Loan works like a credit card where P&N Bank will set a loan limit based on your equity and give you access to those funds through a transaction account. You only pay interest on the funds you use and not the whole balance, however the variable rate of interest is high.

The P&N Bank Equity Access Loan has no redraw facility or 100 percent offset account, but it does let you draw down on your equity if and when you need to. In addition to paying interest-only, this loan lets you make as many additional repayments as you’d like, giving you the option to pay it off quickly.

The P&N Bank Equity Access home lets you borrow up to 90 per cent of the property value.

Who is the P&N Bank Equity Access Loan good for?

This loan is designed for borrowers looking to access extra funds in an existing property to either renovate or invest elsewhere. 

Review - What RateCity says

Equity loans generally have higher interest rates and less bells and whistles than traditional home loans, but they can be valuable if you are looking for access to funds and have researched your options thoroughly.

The key to keeping your Equity Access Loan under control is discipline, as you will essentially have access to a large sum of readily available. It is a good idea to do extensive research on any equity loan and potentially speak to a financial adviser before taking out this loan.

P&N Bank Equity Access Loan Options

More about the P&N Bank Equity Access Loan can be found by clicking the below link.

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  • Additional repayments allowed.
  • Use the equity in your home to secure the loan.
  • Flexible repayment options.
  • High upfront fees.
  • No offset account.
  • Ongoing monthly fees.

Provide proof of identity.

Provide proof of income.

Provide a list of assets and liabilities.

Suitable For
  • First Home Buyers
  • Investors
  • Refinancers
  • Line of Credit Loans
  • Estimated upfront fees: $395.00
  • Discharge fees: $395
  • Ongoing fees: $10 monthly

The P&N Bank Equity Access Loan has a relatively high upfront fee in addition to an ongoing monthly fee. There is also a discharge fee payable when the loan ends. 

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Monthly repayments
  • Loan allows split interest rate
About P&N Bank

Since 1990, P&N Bank has been providing its members with access to a full range of financial products and services including insurance, home and personal loans and financial planning. P&N operates under a mutual model and is owned by its customers. The bank is based in Western Australia and has a number of physical branches throughout the state. It also has a call centre and comprehensive online support.

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