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  1. Home
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  3. Companies
  4. Bankvic
BankVic

BankVic home loans

BankVic is a member-owned bank that was founded by police officers in 1974. Today it serves police and emergency service workers as well as health workers and other public servants.

BankVic employs over 130 staff, has over 96,000 members and over $1 billion in assets, with a head office and branches in Melbourne. These branches offer services such as home and personal loans, credit cards, insurance and members can meet with BankVic financial planners for advice on a range of investment topics.

The bank was named the 2013 Money Magazine Credit Union of the Year.

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Content updated
Product data updated22 Oct, 2023

Important disclosure

Why choose BankVic

Benefits

  • Wide variety of home loan options.
  • Flexible repayment options across most loans.
  • Relatively low interest rates.
  • Member-owned.

Drawbacks

  • Branch access limited to Melbourne.
  • Interest-only payments unavailable on some loans.

BankVic Home Loans

Loan amount

$

Minimum deposit

Loan type & Term

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Compare
Company
Product
Variable Rate (Principal and Interest)
Real Time Rating™
Features
Owner Occupied
20% min deposit
P&I
Extra repayments
Australian Credit Licence 240293
Interest Rate
Comparison Rate*
Repayment

5.70%

p.a

Variable

5.70%

p.a

$2,191

monthly

Go to site
Australian Credit Licence 240293
Compare
Company
Product
Fixed Rate
Real Time Rating™
Features
Owner Occupied
5% min deposit
P&I
Extra repayments
Australian Credit Licence 240293
Interest Rate
Comparison Rate*
Repayment

6.10%

p.a

Fixed - 1 year

5.79%

p.a

$2,276

monthly

Go to site
Australian Credit Licence 240293
Compare
Company
Product
Fixed Rate
Real Time Rating™
Features
Owner Occupied
5% min deposit
P&I
Extra repayments
Australian Credit Licence 240293
Interest Rate
Comparison Rate*
Repayment

6.10%

p.a

Fixed - 2 years

5.82%

p.a

$2,276

monthly

Go to site
Australian Credit Licence 240293
Compare
Company
Product
Fixed Rate
Real Time Rating™
Features
Owner Occupied
5% min deposit
P&I
Extra repayments
Australian Credit Licence 240293
Interest Rate
Comparison Rate*
Repayment

6.05%

p.a

Fixed - 3 years

5.84%

p.a

$2,266

monthly

Go to site
Australian Credit Licence 240293
Compare
Company
Product
Fixed Rate
Real Time Rating™
Features
Owner Occupied
5% min deposit
P&I
Extra repayments
Australian Credit Licence 240293
Interest Rate
Comparison Rate*
Repayment

6.25%

p.a

Fixed - 4 years

5.95%

p.a

$2,309

monthly

Go to site
Australian Credit Licence 240293

Home Loans calculator

Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios.

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25 years

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at interest rate 5.7%

Total interest payable

$0

Total loan repayments

$0

BankVic customer service

BankVic members are able to contact the bank on specialised lines that cover products such as car and personal loans, home loans and insurance. There is also a direct line for those wanting to speak to a financial planner. Customers can make online enquiries, or visit or phone a branch for any immediate or important queries.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch
  • Mobile banking staff

How to Apply

BankVic allows potential borrowers to apply for a loan in a number of ways, including online, by phone or by visiting a BankVic branch. There is also the option to make an appointment with a mobile lender. As BankVic is a member-owned bank, applicants will have to become a BankVic member to take out a loan. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include: 

  • Personal identification material.
  • Proof of employment and income.
  • Information on any current loans or debts you currently have.
  • Asset details, such as land, house, vehicles, savings, shares and super.

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