Loans Overview
We offer a range of responsible lending solutions which can be customised for your specific requirements.
Loans for any of the following purposes are available:
You may wish to discuss your requirements before proceeding or you can lodge an application online.
Download our Application Forms here.
Buying your own home is a big financial step. We offer a low rate variable loan with a range of competitive fixed interest options.
We also offer a Mortgage Offset Account which can save you thousands of dollars in interest and cut years off the term.
Our investment loan can be used for any worthwhile purpose, be it real estate, shares or managed investments.
A range of fixed or variable interest rate options can be combined with the following features:
- Principal and Interest repayments or interest only for up to five years.
- Interest paid in advance by arrangement.
- Borrow up to 80% of the value of the property. Loans greater than 80% may be subject to lenders mortgage insurance.
- Extra repayments accepted without penalty.
- Interest calculated daily and charged monthly in arrears.
We consider loans secured by commercial real estate. Generally the loan/value ratio may be lower than our normal investment loans.
We recommend you discuss your commercial loan requirements before completing an application form.
An approved overdraft offers greater flexibility in managing your day to day financial affairs. Interest is charged monthly depending on the daily utilisation.
Overdrafts are established in your S1 account and may be accessed by Visa Card, EFTPOS, ATMS and Internet.
This facility is subject to reviews at least annually, and security is usually required.
Our Personal Loans are available for any worthwhile purpose including motor vehicles, boats, caravans, holidays etc. We offer flexible terms and repayments (daily – monthly) and no ongoing maintenance fees.
We have recently included a Green Personal Loan into our loan portfolio. We offer a personal loan at a discounted rate which applied to the purchase of environmentally friendly consumer products such as water tanks and guttering, water saving devices, solar energy devices, insulation and more.
Our car loans are available for any motor vehicle less than 4 years old. We offer quick approval and no deposit is required.
This loan is designed specifically for investments in the share market. Depending on the size of the loan, it may be either secured against real estate or unsecured.
Queensland Professional Credit Union's Mortgage Offset Account can cut years off your loan term and save you thousands of dollars in repayments!
What is a Mortgage Offset Account?
A Mortgage Offset Account is a savings account linked to your loan account, which allows you to offset your savings, salary and other cash resources against your home or investment loan.
How does it work?
The total balance in your Mortgage Offset Account is offset against the balance of your loan, and interest is then calculated on the remaining net amount of your home loan. For example, if you had a loan of $300,000 and $20,000 in your Mortgage Offset Account, you will only pay interest on $280,000.
How will a Mortgage Offset Account Benefit me?
- Pay off your mortgage sooner
Even though you are only paying interest on the $280,000, your monthly repayments are calculated on the original amount of $300,000. This means you will be making extra repayments, which will clear your debt faster!
Whilst effectively you are earning interest on your savings account at the same rate as your loan account interest, there will be no interest posted to the Mortgage Offset Savings Account, and therefore no interest to declare on your tax return.
- Make your savings work for you
The rate of tax-free interest you earn is likely to be higher than the rate for a savings account or term deposit with another financial institution. So if you have funds elsewhere, and a home or investment loan with us, transfer the funds into a Mortgage Offset Account to cut years off your loan term and save thousands of dollars in repayments.
- Flexibility and convenience
The Mortgage Offset Account works in exactly the same way as your S1 Savings Account. You can pay bills and transfer money in and out of the account at any time using our full range of banking facilities and there are no minimum balance requirements.
If you currently have advance funds on your home or investment loan, transfer them into a Mortgage Offset Account to have instant access to your savings- without having to fill out redraw forms.
The Mortgage Offset Account has the same standard fees and charges as those applying to an S1 Savings Account.
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