People’s Choice Credit Union Takes Variable Rates to New Lows


Competition on the home loan front continues to intensify, with the People’s Choice Credit Union recently lowering interest rates on its variable rate base mortgage to new lows.

The offer currently features a variable rate of 2.49% pa (compare rate of 2.49% pa *), which is available to homeowners making principal and interest repayments. For comparison, the average variable rate for mortgage loans in our database is currently 3.36% per annum.

There are no upfront fees and lots of useful features to help you save on interest, such as the ability to make unlimited additional repayments. You will also be able to withdraw any additional amounts that you have repaid on the loan if you think they would be better served in your pocket.

In addition to the base variable rate, PCCU also offers a number of attractive fixed rate home loans, including the Fixed Rate First Time Buyer (Package) loan. This has a fixed rate of 1.99% pa over 1 year (comparison rate of 3.91% pa *), and is available to borrowers who have never owned a residential property before.

We’ve included an overview of three PCCU home loans below, but for a full list of credit union offers, along with customer ratings and reviews, be sure to visit our PCCU home loans page.

Basic variable real estate loan (LVR
  • 2.49% pa variable rate (2.49% pa comparison rate *)
  • Free additional refunds
  • Possibility of redrawing available

Find out more

The PCCU Adjustable Rate Basic Home Loan includes everything you could want from a no-frills home loan. Repayments can be weekly, bi-monthly or monthly, and borrowers will be able to repay their loan sooner than expected without incurring any fees. A withdrawal facility is also available, in case you need to collect those additional refunds at some point (the minimum withdrawal amount is $ 1,000). As for fees and other charges, they have been kept to a minimum, the main one you will need to worry about being the $ 350 landfill fee.

Fixed rate loan for first buyer (
  • 1.99% pa fixed rate 1 year (3.91% pa comparison rate *)
  • $ 0 application fee
  • Free additional refunds (p to $ 10,000 per year)

Find out more

First-time homebuyers who are preparing to enter the real estate market will appreciate this PCCU offer. In addition to the fixed rate of 1.99% pa (3.91% pa comparison rate *) available for one year, there are a number of useful features, such as the ability to choose your repayment cycle and make payments. additional free refunds up to $ 10,000 per year. Just keep in mind that once the fixed term expires, the loan will revert to a variable rate of 3.66% per annum. You will also need to plan for a few fees, namely the annual service fee of $ 395 and the discharge fee of $ 350.

Fixed rate mortgage (owner occupant, principal and interest)
  • 2.44% pa 3-year fixed rate (4.11% pa comparison rate *)
  • Free additional refunds (up to $ 10,000 per year)
  • Split Loan Interest Rate Option

Find out more

Locking in a fixed rate can offer certainty in monthly repayments, but with the PCCU Fixed Rate Home Loan, that doesn’t mean you have to sacrifice flexibility. Regarding the repayment frequency, you can choose to pay weekly, biweekly or monthly. You will also be able to make additional repayments without penalty, but this is capped at $ 10,000 per year. For those who want to take advantage of both a fixed rate and a variable rate, there is the option of splitting your loan between a fixed rate and a variable rate.

Wondering how these PCCU offers compare to other home loans on the market? Visit our home loan comparison page, where you can filter your search by rate and type.

* CAUTION: This comparison rate only applies to the example (s) given. Different amounts and terms will result in different comparison rates. Costs such as redemption or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is that of a guaranteed loan with monthly repayment of principal and interest of $ 150,000 over 25 years.

** The initial monthly repayment figures are only estimates, based on the advertised rate, loan amount and term entered. The rates, fees and charges and therefore the total cost of the loan can vary depending on the amount of your loan, the length of your loan and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

^ See information on the Mozo Experts Choice Home Loan Awards

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