Education Package Home Loan
Would you like to receive discounts on a range of products?
Our Education Package Home Loan is suitable for construction purposes and all stages of home ownership, including buying or building your first home or investment property. The Education Package Home Loan entitles you to a range of discounts and benefits including multiple offset accounts.
Find out about our additional First Home Buyers' Package.
Use our Loan Calculators to estimate how much you can borrow and what your repayments may be.
|Apply Online Request a consultation Call 1300 654 822|
The Education Package Home Loan is suitable for all stages of home ownership; owner occupied, first home buyers, construction and investment.
|Receive a 0.80% p.a. discount off Standard Home Loan variable interest rates.||Get a discounted Home Loan Establishment Fee2 of $300.|
|Multiple offset accounts.||If you choose to switch between our Home Loan products, benefit from a discounted Switching Fee of only $150.3|
|You will have the Personal Loan Establishment Fee waived.||No transaction fees using the CBA ATM network and other access channels.|
|Premium CGU insurance policies at competitive prices.4||Ability to borrow up to 85% LVR with no LMI.5|
|Use our Visa Platinum Credit Card with no annual fee.||Interest calculated daily and charged monthly in arrears.|
|Rates & Fees|
For a full list of Home Loan Interest Rates please refer to our Interest Rates page
|Ready to Apply|
Let us assist with your borrowing needs. For a Home Loan you can:
Terms and Conditions
Offset Facility - Multiple Accounts
The offset facility is a separate account used in conjunction with your home loan account. With 100% offset, we deduct your transaction account balance from your Home Loan balance and you only pay interest on the reduced amount. For example, if the amount borrowed is $200,000 and the balance of the offset account is $20,000, interest will only be calculated on $180,000.8
Principal and interest repayments.
Loan to Value Ratio (LVR)
Lenders Mortgage Insurance (LMI) is only required if the loan exceeds 80% of the property value or 85% for Education Package Home Loan holders where approval conditions are met. LMI protects the lender. Loans of up to 95% Loan to Value Ratio (LVR) can be approved, subject to meeting LMI approval conditions and may be extended to 98%, inclusive of LMI fee capitalisation, for first home buyers.
Use our loan calculators to assist you to make informed decisions about borrowing money and paying off your loan:
Borrowing Power Calculator
Loan Repayments Calculator
Extra Repayments Calculator
Lump Sum Repayment Calculator
|Home Loan Key Facts Sheet|
A Home Loan Key Facts Sheet is an easy way to help you understand and compare home loans.
Generate a Home Loan Key Facts Sheet
Home Loan Interest Rates effective 18 November 2016. Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
1. Comparison rate calculated on a secured loan amount of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate.
2. Applicants who decide not to proceed with the loan may incur establishment fees.
3. $50,000 minimum loan increase for existing customers switching from a loan funded prior to 1 December 2015.
4. General insurance is issued by CGU Insurance Limited (CGU) ABN 27 004 478 371, AFSL 238 291. In arranging this insurance, Victoria Teachers Limited ABN 44 087 651 769, AFSL 240 960 acts under an agreement with CGU, not as your agent. This information does not take into consideration your objectives, financial situation or needs. Therefore you should firstly consider the appropriateness of this information and refer to the Terms and Conditions or relevant Product Disclosure Statement (PDS) before acquiring a product, available by calling 1300 654 166. We receive commission on these insurance products as a percentage of the premium price for each policy ranging from 5-35%.
5. Lenders Mortgage Insurance (LMI) is only required if the loan exceeds 80% of the property value or 85% for Education Package Home Loan holders where approval conditions are met. LMI protects the lender. Loans of up to 95% Loan to Value Ratio (LVR) can be approved, subject to meeting LMI approval conditions and may be extended to 98%, inclusive of LMI fee capitalisation, for First Home Buyers.
6. Establishment Fee waived for first home buyers.
7. An Administration Fee applies to home loans for the purpose of construction. Refer Terms & Conditions Part B Fees & Charges.
8. Not available during fixed interest rate period. When you link a transaction account to an offset facility, you earn no interest under the transaction account even if the balance of the transaction account exceeds the loan balance.