Finty
Credit Union SA

Credit Union SA Variable Home Loan Package Principal and Interest

Variable rateOffsetRedraw

Our Variable Home Loan Package is ideal for those seeking significant flexibility. The Credit Union SA Variable Home Loan Package offers a fantastic collection of benefits across our Home Loans, Visa Credit Card, Personal Loans, Term Deposits and more. You pay an annual fee of $395 and in return you’ll save an absolute bundle. Home Loan Offset Accounts are available with selected Credit Union SA Variable Rate Home Loans.

Written byDavid Boyd
Interest rate a year, from
7.24%
Comparison rate
7.59%
Upfront fees
$200
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 7.24% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$4,089
Total repayments
$1,472,036
Interest
$872,036

Rates

Every rate Credit Union SA publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny7.24%7.59%
VariableInvestmentPrincipal and interestAny7.49%7.84%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$200
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
97%
Loan amount
Not published

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

7.24%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

7.59%

For the same rate. Typical is 6.70%.

Upfront fees

$200

Typical upfront fees are $600.

Smallest deposit

3%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A smaller deposit. You can borrow with 3% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.