Standard Home Loan
Owner Occupied

Our Standard Home Loan is suitable for new home owners and refinancers borrowing under $250k.

Apply Online Loan Calculators

Pay less in interest on your Home Loan and organise your budget with up to 8 offset accounts

 

The offset feature in our Easy Access account helps you save on the interest you pay on your Home Loan*. With us, you can have up to 8 accounts to offset your Home Loan balance reducing the amount of interest you pay to help you own your home sooner.  Available at no cost on both Standard and Premium Fixed and Variable Home Loans^.

How it works?

 

Our offset functionality is attached to our Easy Access account that is linked to your home loan, with the full balances of your account offsetting the amount you owe on your home Loan. For example, if you owe $350,000 on your home loan, and hold $10,000 in your offset account for the full month, the interest calculated for you to pay us that month will be on $340,000 instead, saving you money.

At the same time, the money is freely available for you to use, just like any other everyday account. Interest is calculated daily and charged at the end of the month, so even if you hold extra money for a few days instead of the whole month, it will still make a difference.

Do you love budgeting? Or simply want to have a separate account for other expenses and savings? The option to have up to 8 offset accounts linked to your home loan means your money can all still work for you, whether it be in a holiday, grocery, or car expenses account. You name it, it still offsets your home loan whilst keeping you on track with all your living goals.

Talk to us to set up your offset accounts and start saving straight away.

*Excludes business and reverse mortgages. ^For customers over 21 years, for each Easy Access account you hold, a monthly account fee will apply if you do not deposit a minimum of $2k/month or hold a minimum of $30k in investments or loans with us. Eligibility criteria, fees and charges, terms and conditions apply. TMD available.

Standard Home Loan Owner Occupied (P&I)
5.69
%
P.A
2-Year Fixed Rate^
6.58
%
P.A
Comparison Rate*
Standard Home Loan Owner Occupied (P&I)
  • Loans up to $250k
  • Maximum LVR 95%
  • No Annual Fees
  • New Business Only#
  • The Little Details

    Products issued by Southern Cross Credit Union Ltd. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs. To decide if a product is right for you, please refer to the Summary of Accounts, Access Facilities and Transaction Limits. Eligibility criteria, fees and charges, terms and conditions apply. To help you better asses if these products are right for you please reach out to our team or read through our Target Market Determinations (TMD), designed to help you make an informed decision that is consistent with your objectives, financial situations and needs.

    #All rates available for new business only and are subject to change without notice. Credit eligibility criteria, terms and conditions, fees and charges apply and may change without notice.
    *The comparison rate is based on a loan amount of $150,000 repayable over 25 years.
    ^At the end of your fixed rate period the interest rate will revert to the relevant Principal and Interest variable rate.
    ˜Variable interest only option available for maximum five-year periods reverting thereafter to the P&I variable rate.
    WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
    Southern Cross Credit Union Ltd ABN 82 087 650 682 Australian Credit Licence 241 000.
Product Features

Standard Home Loan

Premium Home Loan
Minimum Loan Amount
$10,000$250,000
Maximum Loan Amount
$250,000n/a
Maximum LVR
95%95%
Maximum Loan Term
40 years40 years
Minimum Loan term
1 year1 year
Additional Repayments Available
YesYes
Redraw
YesYes
Principal & Interest Repayments
YesYes
Interest Only Repayments
YesYes
Split Loan
YesYes
Offset Account
YesYes
Fixed Rate Lock Option
YesYes
Compare

Standard Home Loan

Minimum Loan Amount
$10,000
Maximum Loan Amount
$250,000
Maximum LVR
95%
Maximum Loan Term
40 years
Minimum Loan term
1 year
Additional Repayments Available
Yes
Redraw
Yes
Principal & Interest Repayments
Yes
Interest Only Repayments
Yes
Split Loan
Yes
Offset Account
Yes
Fixed Rate Lock Option
Yes

Premium Home Loan

Minimum Loan Amount
$250,000
Maximum Loan Amount
n/a
Maximum LVR
95%
Maximum Loan Term
40 years
Minimum Loan term
1 year
Additional Repayments Available
Yes
Redraw
Yes
Principal & Interest Repayments
Yes
Interest Only Repayments
Yes
Split Loan
Yes
Offset Account
Yes
Fixed Rate Lock Option
Yes
Interest Rate Schedule Fees and Charges Schedule

Lenders Mortgage Insurance

 

Lenders Mortgage Insurance (LMI) is a one-off fee charged on home loans where 80% Loan to Value Ratio (LVR) or more is borrowed. The LMI protects the lender against the risk of not recovering the full loan balance should repayments not be met due to hardship or any other reason, allowing us to lend more to those with less than a 20% deposit. The amount you pay depends on how much you borrow and the percentage of LVR the loan will be. Our Premium Bankers can help you work out the approximate cost and clarify any other loan related questions you may have. To learn more about LMI, take some time to read our blog: https://www.sccu.com.au/home/what-is-lmi/

We have been with SCCU for over 45 Years and for the last 24 of them with our business as well. The staff are amazing people to do your banking with and the loans division make every buying and selling experience so easy. Our little hiccups have never been a drama for the staff to help us solve and nothing is ever too much trouble to help us along the way to building our business through banking. Their rates are always competitive and we would never consider another bank or financial institution for all our needs. Loyal staff and loyal friends = Best Bank Ever.
Neil & Kathalina
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