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Our 1 year fixed rate home loan special is ideal for owner occupied new purchases or refinance from another bank.
What a great way to lock in this rate with offset account to match!
With a loan to value ration of 80% or below and a minimum loan amount of $250,000, why wait!
✓ $0 Monthly Fee
✓ Rate Lock Available
Key Features | |
Minimum Loan Amount: | $250,000 |
Maximum Loan Amount: | Up to 80% of value of property |
Offset Account: | Yes |
Establishment Fee: | $300 |
Legal Fees: | At cost |
Valuation Fees: | At cost |
Switching Fee: | $300 |
Repayment Frequency: | P & I weekly, fortnightly, monthly |
Repayment Method: | Quick Debit, periodical payment, salary direct credit |
Interest Charges: | Calculated daily, charged monthly |
Maximum Terms in Years: | 30 Years |
Fixed Rate Lock Fee: | Yes |
Additional Repayments Accepted: | No |
Redraw Facility: | No |
Read our most frequently asked questions below or view all our Home Loan FAQs.
A comparison rate is the interest rate of your loan, as well as the fees and charges involved in getting a loan. The comparison rate helps you figure out the real cost of the loan, so you can compare your options more clearly. Comparison rates are calculated by all Australian financial institutions and mortgage providers with a standardised formula, which is regulated by the Consumer Credit Code.
Geelong Bank is a mutual financial institution and as such is owned by its members, each one of whom is a shareholder. Yes, you must be a member of the Geelong Bank to have a loan.
Our preferred method is via automatic payroll deduction. However, you can arrange to make your loan repayments by direct debit from your savings or transaction account with Geelong Bank or another financial institution.
Achieving the dream of home ownership is one of the most exciting times in your life. However, it also comes with a big challenge – the time it takes to save a substantial deposit that lenders often require (typically 20% of the home’s purchase price). If you do not have a substantial deposit saved, your lender may be prepared to provide you a home loan with a smaller deposit (as little as 5%), by taking out Lenders Mortgage Insurance (LMI).
Lenders Mortgage Insurance (LMI) is an insurance policy that your lender takes out to protect itself against the risk that you (the borrower) default on your loan repayments and your lender is unable to recover the full outstanding loan amount.
Lenders Mortgage Insurance is arranged by your lender and the premium is a one-off cost your lender pays to us (the insurer) upon settlement of your property purchase. This cost is passed on to you (the borrower) by your lender, as a fee.
We understand that buying a property is a very important decision and it can be both challenging and stressful. Geelong Bank uses Helia to provide Lenders Mortgage Insurance. To help you navigate through the home buying process refer to the following resources:
Owner Occupied – P&I
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1 Eligibility is limited to new borrowings for home purchases or refinances from other financial institutions. Geelong Bank may vary or end this offer at any time without notice. Excludes refinances of existing Geelong Bank home loans.
2 Comparison rate is based on a secured loan amount of $250,000 over a term of 25 years. WARNING: These comparison rates are 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.