|
|
|
|
|
|
Spring Special Home Loan
WHAT IS IT?
What is the ‘Spring Special’ home loan?The ‘Spring Special’ home loan is a special home loan promotion, which offers you a competitive introductory fixed interest rate of 6.99%pa for the first 6 months of the standard variable interest rate loan.
What’s more you pay no establishment fee if you deposit your salary into a PC transaction account.
Six (6) months after funding the interest rate will revert to the standard variable rate available at that time. Check our website for the current rates.
For more information, please view the Spring Special flyer.
TIMING
How long is the offer available?The offer is only available for a limited time, from 1st September 2010 – 30th September 2010 inclusive. The offer may close earlier in the event we receive a substantial volume of applications.
FEATURES AND BENEFITS
What are the features and benefits of the ‘Spring Special’ home loan?A low introductory rate of 6.99%pa fixed for the first 6 months off the standard variable interest rate home loan $0 establishment fee – if you deposit your salary into a PC transaction account.
Convenience through consolidating all your banking with PC
By starting out with a lower rate, you can pay off your home sooner and budget more effectively.
Do the same benefits apply to the ‘Spring Special’ as the PC Standard Variable Rate home loan?Yes, with the ‘Spring Special’ home loan, you can still enjoy:
- No account keeping fees
- No annual fees
- Flexibility to make additional repayments*
- Free redraw facility on additional repayments
- Loan portability
* Deferred establishment and switching fees may apply if loan repaid within first four years or moved to another Police Credit home loan type.
What is the maximum loan amount I can borrow?The maximum loan amount is $1,000,000.
Can I make early repayments with the ‘Spring Special’ home loan?
Yes. The same benefits of the PC Standard Variable Home Loan apply to the ‘Spring Special’ home loan. However a deferred establishment fee may apply if loan repaid within first four years.
ELIGIBILITY
I have an existing home loan with Police Credit, am I still eligible for this offer?No. The ‘Spring Special’ home loan is available only to those who are looking to refinance their home loan from another financial institution or taking out a new home or investment loan with Police Credit.
Is the offer available to both individual and joint borrowers?
Yes.
I am a joint borrower, do I have to deposit my salary as well?
Yes, both borrowers of the home loan must deposit their whole salary in a PC transaction account to benefit from the waived establishment fee.
The standard establishment fee of $300 or $600 if a property valuation is also required, will apply for members who do not deposit their whole salary.
What if my home is not settled until 2011?The discount rate and waived establishment fee only applies to home loans settled by 31st December 2010.
I would like a PC Premium Home Package. Can I also receive the benefits of this offer?No. Borrowers will not be eligible to benefit from the Premium Home Package until the end of the discounted period of 6 months.
Into which accounts can I deposit my salary?
The Multipack Account (S1).
Can I use the ‘Spring Special’ home loan to top up my existing home loan with Police Credit?No. The offer is only available for new home lending or where you are refinancing your home loan from another financial institution.
INTEREST RATES/FEES
What if the standard variable interest rate changes during the introductory period?If the standard variable interest rate changes during the discount period, the 6.99%pa in place will still apply since it is fixed for the first 6 months.
Once the introductory period special rate has elapsed, which interest rate will be applied?The annual percentage rate (interest rate) of your loan will revert to the standard variable interest rate available at the time the introductory offer elapses.
Do any fees apply to the ‘Spring Special’ home loan?
If you meet the eligibility criteria no Police Credit fees* apply for the ‘Spring Special’ home loan. There are no annual or account-keeping fees associated with the loan. *Note that early repayment break costs may apply. Fees and charges not usually covered by our Establishment Fee, eg, stamp duty imposed by government authorities and others may also be chargeable. Please refer to our Fees & Charges brochure for further information on the Establishment fee, break costs and other fees you may incur.
HOW TO APPLYYou can apply for the ‘Spring Special’ online using the existing Home Loan Application Form, www.policecredit.com.au via pc.easynet, calling Home Loan Centre on 13 63 73 & pressing 4 or visiting a branch.
The ‘Spring Special’ commences on the 1/09/10 and concludes on 30/09/10. This offer is not available with PC Premium Home Packages. #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. Comparison Rate is based on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs and has been calculated on a loan amount of $150,000, over a term of 25 years. Comparison Rate Schedule is available at our branches and on our website www.policecredit.com.au. Fees and charges apply. Information on Terms & Conditions, Interest Rates and Fees & Charges are available upon application or request. ^Applicants who make arrangements to regularly deposit their salary into a PC transaction account will not be charged an establishment fee or have it rebated. *Insurance offer: Only valid in conjunction with this home loan product. The total premium may vary due to rounding. Police Credit provides general insurance products as an agent for Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 and CGU Insurance Limited ABN 27 004 478 371 AFSL 238291. Before you make any decision to acquire any general insurance product you should obtain and consider the relevant Product Disclosure Statement available from any branch of Police Credit or by calling 13 63 73. To discontinue receiving Police Credit promotional communications please call Member Response on 13 63 73. Police Association Credit Co-operative Limited ABN 33 087 651 661 AFSL 240293 121 Cardigan Street Carlton Victoria 3053
|
|
|
|
|
|
|