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Education Package Home Loan

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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.

3.89% pa
variable interest rate
owner occupied
loans with an LVR of 80% or less

4.21% pa
comparison rate1

Apply Online Request a consultation Call 1300 654 822

The Details:

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

Education Package Home Loan
Interest Rates LVR 80% or less LVR greater than 80%
Owner Occupied
Variable Interest Rate 3.89% pa 4.09% pa
Comparison Rate1 4.21% pa 4.41% pa
Comparison Rate First Home Buyers1 4.19% pa 4.39% pa
Investment
Variable Interest Rate 4.09% pa 4.29% pa
Comparison Rate1 4.41% pa 4.61% pa
Comparison Rate First Home Buyers1 4.39% pa 4.59% pa
Fees
Education Package Home Loan Fee (yearly) $300 
Establishment Fee6 $300 
Administration Fee7 $0 
  Ready to Apply

Let us assist with your borrowing needs. For a Home Loan you can:

Apply Online

Apply Online

Consultation

Request a consultation with a loan specialist.

Phone Us

Call 1300 654 822 between 8:00am and 7:00pm Monday to Thursday and Friday 8:00am and 6:00pm.

Download

Complete a Home Loan Application and return it to us.
Download the Home Loan Documentation Checklist for a list of the documents required to apply for your Loan.
Complete the Education Package Home Loan Request if you are an existing Home Loan customer wishing to switch into the Education Package Home Loan.

Visit Us

Complete an application in person at our Hawthorn East or Moonee Ponds Service Centres.

Terms and Conditions

Part A - Product Information
Part B - Fees and Charges
Part C - Interest Rates

  More Info

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

Repayments

Principal and interest repayments.
We also offer Interest Only repayments for 1-5 year terms. Conditions apply.

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.

  Calculators

Use our loan calculators to assist you to make informed decisions about borrowing money and paying off your loan:

Borrowing Power Calculator
Find out how much you can expect to borrow based on your current salary and existing financial commitments.

Loan Repayments Calculator
Work our what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount.

Extra Repayments Calculator
Calculate how much time and interest you can save by paying more than the minimum repayment.

Lump Sum Repayment Calculator
Calculate the time and interest you can save by paying a lump sum off your loan

  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
A Key Facts Sheet provides you with loan information in a standardised format which allows you to compare different home loans.

 


Important Information
Home Loan Interest Rates effective 6 March 2017. 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.