Bank First Fixed Complete Loan


The Bank First Fixed Complete Loan offers very low to moderate fixed rates for shorter to longer fixed terms, and you can lock in the rate you’re offered at application with the rate lock feature to ensure the rate won’t rise while you’re waiting for your settlement.

Following your fixed period, your rate will revert to the variable rate offered with the Complete Loan, which is very low.

Extra repayments can be made during the fixed term, however, make sure you keep track because there is a maximum amount you can make each year of your fixed term and must pay a break cost fee if you go over this amount.

A fee-free redraw facility is also available for you to access any funds you’ve put towards extra repayments as long as you’re redrawing at least the minimum allowed amount.

If you do get ahead of schedule with your repayments, you could be able to take a repayment holiday for a certain period or you can take a repayment pause if you go on maternity or paternity leave, but these breaks are subject to approval by Bank First and you will still be liable for repaying your full loan amount.

There is a small deposit requirement for this loan, which can be great for investors and first home buyers, but lenders mortgage insurance should be added into your total loan cost if you’ll be making less than a 20 per cent deposit.

Or, you can avoid lenders mortgage insurance with the family guarantee option, which secures a portion of a family member’s property against your loan, serving as your deposit.

Who is the Bank First Fixed Complete Loan good for?

The Complete Fixed Loan from Bank First is available for different borrowing needs, but is especially geared towards first home buyers and owner-occupiers. The flexibility offered by the included features provides first home buyers with many of the tools needed to manage their mortgage and their life with ease.

Review - What RateCity says

The Victoria Teachers Mutual Bank Fixed Complete Loan has the potential to provide you with flexibility and control should it meet your needs.

The low rates available could make any type of borrower happy, but the range of features might be best suited if you are a first home buyer, since the entry and exit fees might be a deal breaker for other borrowers looking for different features.

Weighing up the pros and cons with your own needs and wish list could be a good start in determining whether the Fixed Complete Loan is the most suitable option to you.

Bank First Fixed Complete Loan Options

The Bank First Fixed Complete Loan offers a wide range of options at different fixed rate terms and deposit sizes, which can be explored below.

Fixed Rates from


Advertised rate


Comparison rate
  • Very low fixed interest rates available.
  • Family guarantee.
  • $0 in ongoing fees.
  • Entry and exit fees.
  • Limit on additional repayments.
  • No 100 per cent offset account.

Must be an Australian citizen or permanent resident.

Must be able to provide proof of income.

Must be over 18 years of age.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $600.00
  • Discharge fees: $350
  • Ongoing fees: $0

While having no ongoing fees is a great benefit, there is a moderately high establishment fee due upfront and a moderately high discharge fee that will be due when you complete your loan.

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

Bank First, formly known as Victoria Teachers Mutual Bank, is owned by its customers, and it ensures that profits will be returned to them with benefits offered through financial products and services.

There are limited service centres located in Victoria, but access to ATM networks is available Australia-wide.

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