Police Bank Police Value Loan

Features

The Police Value Home Loan offers currently serving police officers access to a flexible, discounted home loan and gives back to those in service.

Choose between a fixed or variable interest rate or split the loan into both rates if you prefer the best of both worlds. Borrowers who opt for a variable rate will have access to a 100 percent offset account, however fixed rate loans don’t have an offset facility.

If you’re ahead on your loan repayments, you can access these funds by using the redraw facility if and when you need to. If you’re determined to pay off your loan sooner, there are no early exit fees attached to this loan.

The Police Value Loan gives you plenty of ways to save with the Reduced Fees Program. If your monthly balance is $5000 or more you could get access to fee free ATM and EFTPOS transactions.

When it comes to repaying the loan, you can choose your own terms from weekly, fortnightly or monthly options repayments or you can simply opt to have the loan automatically debited from your fortnightly pay.

The Police Value Loan is only available to owner-occupiers and to current serving police officers or a Retired police officer who are members of a union that is associated with the Police Federation of Australia.

Who is the Police Bank Police Value Loan good for?

The Police Value Loan is only available to owner-occupiers and to current serving police officers or a Retired Police Officer who are members of a Union that is associated with the Police Federation of Australia.

Review - What RateCity says

If you’re a current serving police officer or a retired police officer and you’re looking for a no-fuss home loan that gives you the flexibility to choose between a fixed and variable rate, the Police Value Loan is worth considering.

The fixed loan has a better interest rate than the variable loan rate which is a little on the high side. This loan is all about giving back to those in service and offers a discounted rate to current serving police officers.

Payment is conveniently deducted from your fortnightly salary and you also have access to the Reduced Fees Program which can help you save.

It’s worth pointing out that borrowers who prefer the certainty of a fixed interest rate won’t have access to an offset account, which can cost you thousands of dollars over the lifetime of the loan.

Police Bank Police Value Loan Options

The Police Value Loan offers a feature-rich, discounted rate home loan to currently serving or retired police officers. Click here to choose between a fixed rate or variable rate home loan. 

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Fixed Rates from

2.79%

Advertised rate

3.21%

Comparison rate

Variable Rates from

3.18%

Advertised rate

3.26%

Comparison rate
Pros
  • No ongoing monthly fees.
  • Ability to split the loan.
  • Discounted interest rate.
Cons
  • High upfront fees.
  • Limited offset account.
  • Limited branch network.
Eligibility

Provide proof of income.

Provide a list of assets and liabilities.

Must be a current serving Police Officer or a Retired Police Officer.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $545.00
  • Discharge fees: $294
  • Ongoing fees: $0

The Police Value Home Loan has no ongoing fees, but does have a relatively high upfront fee and discharge fee payable when the loan ends of if you decide to refinance with another lender. If your monthly account balance is more than $5000 you can save on fees transaction fees with the Reduced Fees Program.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Police Bank

Since the 1960s, the Police Bank has grown to become one of Australia’s largest financial institutions. From its humble beginnings with only 60 members, the Police Bank now offers a wide range of financial products and services like home loans, savings accounts, credit cards and insurance.

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