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Reward Me Home Loan Fixed 3 Years (New Customer)

For any query, Call: 1300 001 153
RewardsEarn 10,000 Velocity points for every $100k drawn at settlement. Earn a further 1,000 velocity points every month. Earn a further 30,000 velocity points every three years.  
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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • Extra low interest rate for refinancers
  • Extra low interest rate for new customers
  • Repayments will not change during fixed period
Cons:
  • Limited extra repayments
  • No redraw and no offset
  • Discharge fee at end of loan
  • Repayments won't decrease if RBA cuts rates

Fees and Features

Maximum LVR
Maximum LVR
90%
Interest rate structure
Interest rate structure
Fixed - 3 years
Borrowing range
Borrowing range
$250k - $100m
Total repayments
Total repayments
$429,120
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$150.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$150
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$10 monthly
Discharge fee
Discharge fee
$320
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
90%
Interest rate structure
Interest rate structure
Fixed - 3 years
Borrowing range
Borrowing range
$250k - $100m
Total repayments
Total repayments
$429,120
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$150.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$150
Valuation fee
Valuation fee
$0
Legal fee
Legal fee
$0
Ongoing fee
Ongoing fee
$10 monthly
Discharge fee
Discharge fee
$320
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
Velocity Points on settlement, monthly, every 3 years
Other Restrictions
PAYG only, new loans of $300,000 or more
  • Rewards Earn 10,000 Velocity points for every $100k drawn at settlement. Earn a further 1,000 velocity points every month. Earn a further 30,000 velocity points every three years.
    Customers who apply and are approved for a Virgin Money Reward Me Home Loan, with an LVR of 90% or under, will earn 10,000 Velocity Points for every $100,000 drawn at settlement. Receive 1,000 Velocity Points every month for each loan account and 30,000 Velocity Points every 3 year anniversary provided total borrowings are greater than $50,000.

Virgin Money is a financial services company that was founded in 2003 by the Virgin Group and Macquarie Bank. The company was bought by the Bank of Queensland in 2013.

Virgin Money has a head office in Sydney and offers a range of financial products and services, including credit cards, superannuation, home loans, insurance and savings account.

Virgin Money Home Loan Calculator
Interested in an Virgin Money home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Virgin Money compares to its competitors. Simply plug in your borrowing amount below. 

FAQs

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

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