Line of credit

Are you thinking about renovating, going for that dream holiday or maybe buying a boat?

Our line of credit is an all-in-one loan solution that allows you to unlock the equity in your home.

Overview
Features
Rates & fees
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Overview

Benefits

You can enhance your lifestyle, no matter what life stage you're at and enjoy the following benefits:

Visa debit card linked to your loan account so you can withdraw cash or make purchases directly from your line of credit account
no penalty fees for early or additional repayments
interest calculated daily and debited monthly in arrears
pre-approval certificate (valid for three months)
no-obligation quotes for pay-by-the-month insurance (with an option of 90 days free building insurance cover during settlement period).

Eligibility

To be eligible, you must:

be a BankVic member
be 18 years and over and
meet our lending assessment criteria.

Features

Features of our line of credit include:

minimum loan amount $50,000
maximum loan term 30 years
optional Visa debit card
loan portability
monthly repayments.

Rates & fees

Rates

	Rate pa	Comparison rate pa
Owner-occupied¹	4.69%	N.A.
Investment²	5.19%	N.A.
1 Line of credit rate effective 2 Oct 2018 for new borrowers; 2 Oct 2018 for existing borrowers. 2 Line of credit rate effective 19 Apr 2017 for new borrowers 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 AUD$150,000 over a term of 25 years.

Fees & charges

Refer to Fees & Charges (PDF) for information on current fees & charges.

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4 easy ways to apply

Before you apply...

We recommend that you read our Credit Guide (PDF).

Any advice has been prepared without taking account of your objectives, financial situation or needs. Before acting on the advice you should consider whether the advice is appropriate for you. 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 Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. 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.