Police Bank Goldrate Home Loan
Variable or Fixed rateOffsetRedraw
Our low rate home loan comes with a great range of features to help you pay off your home sooner.
- Interest rate a year, from
- 6.19%
- Comparison rate
- 6.30%
- Upfront fees
- $1,480
- Annual fee
- Not published
- Monthly fee
- $7
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.19% (3 year fixed, live in, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,678
- Total repayments
- $1,324,052
- Interest and monthly fees
- $724,052
Rates
Every rate Police Bank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 60% | 6.24% | 6.31% |
| Variable | Live in | Principal and interest | 60% to 80% | 6.29% | 6.36% |
| Variable | Live in | Principal and interest | Up to 90% | 6.64% | 6.72% |
| Variable | Live in | Principal and interest | 80% to 95% | 6.64% | 6.72% |
| Variable | Live in | Interest only | Up to 60% | 6.54% | 6.44% |
| Variable | Live in | Interest only | 60% to 80% | 6.59% | 6.49% |
| Variable | Live in | Interest only | Up to 80% | 7.34% | 6.49% |
| Variable | Live in | Interest only | Up to 90% | 6.74% | 6.75% |
| Variable | Live in | Interest only | 80% to 95% | 6.74% | 6.75% |
| Variable | Investment | Principal and interest | Up to 60% | 6.44% | 6.51% |
| Variable | Investment | Principal and interest | 60% to 80% | 6.49% | 6.56% |
| Variable | Investment | Principal and interest | 80% to 90% | 6.74% | 6.82% |
| Variable | Investment | Interest only | Up to 60% | 6.59% | 6.57% |
| Variable | Investment | Interest only | 60% to 80% | 6.64% | 6.62% |
| Variable | Investment | Interest only | 80% to 90% | 6.79% | 6.83% |
| 1 year fixed | Live in | Principal and interest | Up to 60% | 6.34% | 6.32% |
| 1 year fixed | Live in | Principal and interest | 60% to 80% | 6.34% | 6.37% |
| 1 year fixed | Live in | Principal and interest | Up to 90% | 6.44% | 6.69% |
| 1 year fixed | Live in | Principal and interest | 80% to 95% | 6.44% | 6.69% |
| 1 year fixed | Live in | Interest only | Up to 60% | 6.49% | 6.34% |
| 1 year fixed | Live in | Interest only | 60% to 80% | 6.49% | 6.38% |
| 1 year fixed | Live in | Interest only | Up to 90% | 6.59% | 6.71% |
| 1 year fixed | Live in | Interest only | 80% to 95% | 6.59% | 6.71% |
| 1 year fixed | Investment | Principal and interest | Up to 60% | 6.49% | 6.52% |
| 1 year fixed | Investment | Principal and interest | 60% to 80% | 6.49% | 6.56% |
| 1 year fixed | Investment | Principal and interest | 80% to 90% | 6.59% | 6.80% |
| 1 year fixed | Investment | Interest only | Up to 60% | 6.59% | 6.53% |
| 1 year fixed | Investment | Interest only | 60% to 80% | 6.59% | 6.57% |
| 1 year fixed | Investment | Interest only | 80% to 90% | 6.69% | 6.81% |
| 2 year fixed | Live in | Principal and interest | Up to 60% | 6.34% | 6.33% |
| 2 year fixed | Live in | Principal and interest | 60% to 80% | 6.34% | 6.37% |
| 2 year fixed | Live in | Principal and interest | Up to 90% | 6.44% | 6.67% |
| 2 year fixed | Live in | Principal and interest | 80% to 95% | 6.44% | 6.67% |
| 2 year fixed | Live in | Interest only | Up to 60% | 6.49% | 6.36% |
| 2 year fixed | Live in | Interest only | 60% to 80% | 6.49% | 6.40% |
| 2 year fixed | Live in | Interest only | Up to 90% | 6.59% | 6.70% |
| 2 year fixed | Live in | Interest only | 80% to 95% | 6.59% | 6.70% |
| 2 year fixed | Investment | Principal and interest | Up to 60% | 6.49% | 6.52% |
| 2 year fixed | Investment | Principal and interest | 60% to 80% | 6.49% | 6.56% |
| 2 year fixed | Investment | Principal and interest | 80% to 90% | 6.59% | 6.79% |
| 2 year fixed | Investment | Interest only | Up to 60% | 6.59% | 6.54% |
| 2 year fixed | Investment | Interest only | 60% to 80% | 6.59% | 6.58% |
| 2 year fixed | Investment | Interest only | 80% to 90% | 6.69% | 6.80% |
| 3 year fixed | Live in | Principal and interest | Up to 60% | 6.19% | 6.30% |
| 3 year fixed | Live in | Principal and interest | 60% to 80% | 6.19% | 6.34% |
| 3 year fixed | Live in | Principal and interest | Up to 90% | 6.34% | 6.63% |
| 3 year fixed | Live in | Principal and interest | 80% to 95% | 6.34% | 6.63% |
| 3 year fixed | Live in | Interest only | Up to 60% | 6.34% | 6.34% |
| 3 year fixed | Live in | Interest only | 60% to 80% | 6.34% | 6.37% |
| 3 year fixed | Live in | Interest only | Up to 90% | 6.49% | 6.67% |
| 3 year fixed | Live in | Interest only | 80% to 95% | 6.49% | 6.67% |
| 3 year fixed | Investment | Principal and interest | Up to 60% | 6.34% | 6.49% |
| 3 year fixed | Investment | Principal and interest | 60% to 80% | 6.34% | 6.52% |
| 3 year fixed | Investment | Principal and interest | 80% to 90% | 6.49% | 6.74% |
| 3 year fixed | Investment | Interest only | Up to 60% | 6.44% | 6.51% |
| 3 year fixed | Investment | Interest only | 60% to 80% | 6.44% | 6.55% |
| 3 year fixed | Investment | Interest only | 80% to 90% | 6.59% | 6.77% |
| 5 year fixed | Live in | Principal and interest | Up to 60% | 6.59% | 6.47% |
| 5 year fixed | Live in | Principal and interest | 60% to 80% | 6.64% | 6.52% |
| 5 year fixed | Live in | Principal and interest | Up to 90% | 6.79% | 6.78% |
| 5 year fixed | Live in | Principal and interest | 80% to 95% | 6.79% | 6.78% |
| 5 year fixed | Live in | Interest only | Up to 60% | 6.79% | 6.55% |
| 5 year fixed | Live in | Interest only | 60% to 80% | 6.84% | 6.60% |
| 5 year fixed | Live in | Interest only | Up to 90% | 7.04% | 6.88% |
| 5 year fixed | Live in | Interest only | 80% to 95% | 7.04% | 6.88% |
| 5 year fixed | Investment | Principal and interest | Up to 60% | 6.69% | 6.63% |
| 5 year fixed | Investment | Principal and interest | 60% to 80% | 6.74% | 6.68% |
| 5 year fixed | Investment | Principal and interest | 80% to 90% | 6.89% | 6.88% |
| 5 year fixed | Investment | Interest only | Up to 60% | 6.84% | 6.68% |
| 5 year fixed | Investment | Interest only | 60% to 80% | 6.89% | 6.73% |
| 5 year fixed | Investment | Interest only | 80% to 90% | 7.04% | 6.94% |
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
- $1,480
- Annual fee
- Not published
- Monthly fee
- $7
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 95%
- Loan amount
- From $50,000
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
6.29%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
6.36%
For the same rate. Typical is 6.70%.
Upfront fees
$1,480
Typical upfront fees are $600.
Smallest deposit
5%
Most loans need at least 10% of the price.
Pros and cons
Pros
- A lower variable rate. 6.29%, below the typical 6.62%. On a $600,000 loan, every 0.10% less saves about $600 a year in interest.
- 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.
- Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- Higher upfront fees. $1,480, above the typical $600, which adds to the cash you need at settlement.
- A $7 late payment fee. Setting up automatic repayments avoids it.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 6.29%
- Comparison rate
- 6.29%
- Variable rate from
- 6.29%
- Comparison rate
- 6.32%
- Variable rate from
- 6.29%
- Comparison rate
- 6.36%
