BankVic

Equity Loan Package

Our Equity Loan Package is a line of credit account secured by your residential property. It allows you to access equity available on your home for a variety of purposes, such as extending the family home (renovations), purchase items such as a car or caravan, or even  an extended holiday.

FeaturesFees & chargesOverview
Minimum loan amount
 $50,000
Maximum borrowings
 

Up to 80% of the value of property offered as security.

Maximum loan term
 

30 years

Loan type
 

Line of credit

Split loan
 

Yes. You have the flexibility to split your loan to best suit your needs.

Additional repayments
 

Yes. Pay off your loan faster and save on interest.

Redraw facility
 

Yes. The ability to access your additional loan repayments is a feature of the line of credit or equity facility.

Repay loan early
 

Make additional payments and redraw on the variable portion of your loan.

Loan portability
 

Yes.

Establishment fee
Nil

No separate establishment fee applies.

Annual fee
$375

Yes. Annual fee will be charged when your loan commences and on the anniversary date thereafter.

Monthly fee
Nil

No. No monthly account-keeping fees.

Ezepay  account
 

Yes. Available as part of our Equity Loan Package.

Visa credit card (optional)
 

Yes. Option to choose from a Visa Gold or Silver credit card.

Cheque book (optional)
$1 per cheque

Yes. Optional cheque book will be linked to your Ezepay account.

Any advice has been prepared without taking account of your objectives, financial situation or needs. BankVic cannot provide tax advice. Before acting on the advice you should consider whether the advice is appropriate for you. Investment and taxation advice should be sought from an experienced adviser. Our financial planners may be able to assist with investment advice. Before you make any decision to acquire any product or service you should obtain and consider the relevant Product Disclosure Statement available on our website, at a branch or by calling 13 63 73. As an AFSL holder, BankVic sells general insurance products under an agreement with CGU Insurance Limited ABN 27 004 478 371 AFSL 238291. Terms, conditions, limits and exclusions apply. If you purchase insurance we will receive a commission that is a percentage of the premium. Fees and charges apply. Interest rates are variable and subject to change. Information on our terms & conditions, interest rates and fees & charges are available on request.

BSB: 704-230

Police Financial Services Limited - ABN 33 087 651 661
AFSL 240293 Australian Credit Licence 240293
General Enquiries 13 63 73
Copyright 2017