The Rock Building Society Line of Credit Loan


The Rock Building Society Line of Credit Loan features access to the equity in your home as a mortgage secured line of credit, with funds accessible through EFTPOS, ATMs, cheque, and internet or phone banking.

The Line of Credit Loan has a high variable interest rate, though this is quite standard for line of credit loans providing access to a ready source of funds for investment or spending purposes.

The available loan split option gives you the choice to split your loan with a fixed and variable interest rate, the payments of which you can reduce through depositing funds into up to six 100 per cent offset accounts.

You will be able to make additional repayments on your loan at any time, allowing you to reduce the balance on your loan at your convenience. And, no regular repayments are set for this loan, but if you’re eager to avoid a great build up of interest charges you can elect to set up regular automatic payments credited directly from your salary.

Make sure you meet the minimum borrowing requirement and maximum of 80 per cent of your property’s value for this loan, with a purpose for your funds deemed worthwhile by The Rock Building Society.

Who is the The Rock Building Society Line of Credit Loan good for?

The Line of Credit Loan from the Rock Building Society could suit borrowers who are eager to maintain maximum control over their finances and have access to a line of credit on their home’s equity.

The flexible structure of the Line of Credit Loan and its wide array of features mean it might appeal to a range of borrowers, including owner-occupiers who would like to shape their finances around their home loan and investors looking to tap into the equity of an investment property. Though, line of credit loans take financial discipline and are better suited for responsible spenders.

Review - What RateCity says

The Rock Building Society Line of Credit Loan combines the usefulness of a mortgage secured line of credit with the control and flexibility in repayments through the available features.

Line of credit loans are better suited if you’re good with tracking your finances because overdrawing your credit limit could have financial consequences that might be hard to get out of, but conversely could provide great benefits if you stay on top of your money management.

The Rock Building Society Line of Credit Loan Options

The Rock Building Society Line of Credit Loan comes with a range of options designed to accommodate both home and investment property purchases.

  • Access to equity in property through a line of credit.
  • Loan split option.
  • 100 per cent offset account available.
  • High variable interest rate.
  • High upfront cost.
  • Discharge and ongoing monthly fees.

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet serviceability criteria.

About The Rock Building Society

The Rock Building Society provides financial services in the central Queensland region. It was established in 1967, and offers a wide range of home loan options to its customers as well as branch, phone and online account services.

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