Service Level
Service level - Approval turnaround times
We usually take up to 5 days for PAYG applications and 10 days for Self-Employed applications to commence assessment of a file.
1. Application Checklist
Follow our home loan application checklist and ensure it is completed in full.
2. Documents
Ensure all ID documents are current and meet our customer identification guidelines.
3. Serviceability
Check serviceability prior to submitting. If you need help completing the servicing calculator please contact your broker development manager.
4. Valuation inspection
Ensure owners/tenants can facilitate a valuation inspection, if required.
Accreditation
Becoming a BankVic accredited broker
Our accreditation process is designed to help you understand our products, policies, and processes. This will enable you to provide your customers with a great experience.
To begin the accreditation process with BankVic, please speak with your aggregator representative. They will provide us with your information and supporting documents for processing.
On receipt of your accreditation application from your aggregator, BankVic will complete the accreditation approval process. During this time your Broker development manager (BDM) may contact you to discuss any specific requirements.
To complete your accreditation, you must attend a BankVic Broker Training Session. Your Broker Development Manager (BDM) will send you the access details. Once you've finished the training, you'll receive a unique Broker ID number. To start the accreditation process, contact your aggregator. If you have any questions, your BankVic BDM is available to help. You can also email BankVic Broker Loans on brokeraccreditation@bankvic.com.au for assistance.
Book upcoming training dates:
Training
We're here for you at every step
BankVic experts are available online and face-to-face to support you in offering our products to your clients.
Book upcoming training dates:
Calculators
Seviceability and loan calculators
Serviceability calculator
Use this calculator to find out the affordability of your customer's loan. Simply download and fill in the highlighted cells.
Calculate
Loan calculators
Make informed financial decisions for your customers with our interactive online loan calculators.
Calculate
QBE LMI Calculators
Use QBE LMI calculator to make informed financial decisions for your customers.
QBE LMI Calculator
RATES TABLE
Rates & fees
- Variable RateBase Rate (% PA)Comparison Rate (% PA)Police Variable Rate for owner-occupiers (P&I)6.04%6.04%
(1) This owner occupier variable rate home loan is for new borrowings, refinances and top-ups. Eligibility is limited to current employees of Victoria Police or the Australian Federal Police, who can borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI) or up to 90% with no LMI for new purchases within Metro Melbourne and Geelong. Offset account not available. Approval subject to BankVic's credit assessment.
Variable RateBase Rate (% PA)Comparison Rate (% PA)Police Variable Rate for investors (P&I)6.44%6.49%Police Variable Rate for investors (IO)6.54%6.54%(1) This investor variable rate property loan is for new borrowings, refinances and top-ups. Eligibility is limited to current employees of Victoria Police or the Australian Federal Police. Borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI) or up to 90% of the property value with LMI. Offset account not available. Approval subject to BankVic's credit assessment.
- Variable RateBase Rate (% PA)Comparison Rate (% PA)Variable Rate (P&I)6.10%6.10%
(1) This owner occupier variable rate home loan is for new borrowings and refinances from other financial institutions outside of BankVic. Borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI). Victoria Police, Health and Emergency services employees can borrow up to 90% of the property value and pay no LMI for new purchases within Metro Melbourne including Geelong. Offset account not available. Approval subject to BankVic's credit assessment.
Fixed RatesBase Rate (% PA)Comparison Rate (% PA)1 year fixed rate (P&I)6.49%6.19%2 year fixed rate (P&I)6.25%6.18%3 year fixed rate (P&I)6.49%6.26%4 year fixed rate (P&I)6.99%6.48%5 year fixed rate (P&I)6.99%6.54%(1) Fixed rates apply for owner occupied loans with principal and interest repayments, at the end of the Fixed Rate period the interest rate will revert to our variable rate applicable at that time. Borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI). Victoria Police, Health and Emergency services employees can borrow up to 90% of the property value and pay no LMI for new purchases within Metro Melbourne including Geelong. You can make up to $10,000 pa in additional payments without incurring any penalty cost, any amounts exceeding $10,000 may incur a break cost. Please see the fees and charges guide for more information. Approval subject to BankVic's credit assessment.
- Variable RateBase Rate (% PA)Comparison Rate (% PA)Variable rate (IO)6.60%6.60%Variable rate (P&I)6.50%6.55%
(1) This investor variable rate property loan is available for new borrowings, refinances and top-ups. Borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI) or up to 90% of the property value with LMI. Offset account not available. Approval subject to BankVic's credit assessment.
Fixed RatesBase rate (% PA)Comparison rate (% PA)1 year fixed rate (P&I)6.64%6.56%2 year fixed rate (P&I)6.40%6.53%3 year fixed rate (P&I)6.64%6.59%4 year fixed rate (P&I)7.14%6.79%5 year fixed rate (P&I)7.14%6.83%1 year fixed rate (IO)6.84%6.58%2 year fixed rate (IO)6.60%6.57%3 year fixed rate (IO)6.84%6.65%4 year fixed rate (IO)7.34%6.86%5 year fixed rate (IO)7.34%6.92%(1) Fixed rates apply for investment loans with principal and interest repayments, at the end of the Fixed Rate period the interest rate will revert to our investor variable rate applicable at that time. Borrow up to 80% of the property value with no Lenders Mortgage Insurance (LMI) or up to 90% of the property value with LMI. You can make up to $10,000 pa in additional payments without incurring any penalty cost, any amounts exceeding $10,000 may incur a break cost. Please see the fees and charges guide for more information. Approval subject to BankVic's credit assessment.
- Establishment Fee: may be charged when you setup a home loanFee TypeFeesSet-up fee$300Standard metro valuation$300Top-up fee$200Other fees that may be charged when you setup a home loanFee TypeFeesNon-standard valuation (1)At cost (for country, interstate and high value properties)Progressive inspection feeUp to $150 per inspectionProduction of title (held by BankVic)$330Title searchUp to $25 per searchBankVic representation at settlement$99Financial institution chequeFreeTransfer via Real Time Gross Settlement (RTGS)$15 per transaction. Waived only for BankVic home loan settlements.
(1) Some country and interstate areas may incur a valuation fee up to $1,000. In addition to the above valuation costs, a commercial loan may incur additional costs. These costs will be available upon application. Any valuation cost that is additional to the Establishment Fee, will be payable in full at the same time the Establishment Fee is due.
Fees that may be charged after taking out a home loanFee TypeFeesSecurity substitution and loan portability$400Loan switching$200Discharge fee$295 per lodgementThird party fees (1)At costRedraw (2)FreeFixed Rate early repayment and break costs (3)Unascertainable(1) Fees payable if we incur a fee from any third party, including our solicitor or PEXA, as result of any matter relating to your Loan Contract or Security following the Settlement Date.
(2) Only available with variable rate home loans. Minimum transaction is $50.00.
(3) Break costs are an amount equal to our reasonable estimate of our loss as a result of you breaking the fixed interest period. If during a fixed interest period you repay the loan or change from a fixed interest rate loan to a variable interest rate loan or change from one fixed interest loan to another or pay more than $10,000 of the money owing before it is due in a calendar year, then break costs may be applied. Refer to the terms of your Loan Contract for full terms and conditions and calculation details.
Terms and conditions, fees and charges are available at bankvic.com.au, by calling 13 63 73 or visiting a branch. A Target Market Determination (TMD) for every product is available to help members decide if a product is suitable for them.
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. Comparison rate for our home loan is based on a on a new loan for a property purchase secured by a freehold property located within the metropolitan area and associated costs. The rate has been calculated on a loan amount of $150,000 over a term of 25 years.
Home Loans
Our home loans features & policies
Why BankVic
Our commitment to brokers
As a BankVic accredited broker you will get access to
The NextGen platform to apply online
Designed to improve efficiency and processing ability. Easy application lodgment and tracking available in real time.
A dedicated team
Our Broker Development Managers and local credit and broker support give you the right people to call at any time to support you in managing your applications right through to approval.
Simple product range
Our simple product range, policies and tools take the complexity out of applications so you can focus on your client's needs.
Contact Us
Meet the BankVic broker support team
For general enquiries, email us on brokerloans@bankvic.com.au for assistance.
Broker Development Manager
Paul Meilak
Paul has 20+ years in banking and finance. Over this time, he has sat in roles in call centre, credit decisioning (first and third party), Business Banking, Franchise Banking, Relationship Management, Business Development, Projects and has led a team of lenders, across big banks, smaller banks and mutuals. Paul is available to help you with your needs and introduce you to BankVic.
Call: 0439 682 939 | Email: pmeilak@bankvic.com.au
Relationship Manager
Erica Clarke
Call: 0400 891 225 | Email: eclarke@bankvic.com.au
Useful links
Useful links and important documents
Information on this page is general in nature.
We recommend that you read the documents and visit the links for more information.