Enjoy a competitive rate that moves with the market.
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Flexible interest only Home Loan option
Whether you need to reduce your home loan repayments to fund a renovation or are an investor planning to sell your property, an interest only loan can help you free up the funds you need. Our popular interest only Home Loan comes with an attractive variable rate and offset account. Term can be fixed over 1 or 2 years
6.74
%
p.a.
Interest rate
6.81
%
p.a.
Comparison rate
Why choose our Home Loan?
Who is this loan ideal for?
Our Interest Only Home Loan is suited to borrowers looking to minimise repayments in the short term - whether you're a property investor maximising cash flow, building a new home, or managing other financial commitments. It’s a flexible option for those who want lower initial repayments while keeping long-term plans in mind.
Product Features:
Home Loans |
|
|---|---|
| Minimum Loan Amount : | $100,000 |
| Loan Period : | Up to 30 years |
| Repayments : | Weekly, fortnightly or monthly |
| Interest Charges : | Calculated daily, charged monthly |
| Interest Only : | Yes |
| Establishment Fee : | $395 plus associated Legal and Valuation fees (at cost) |
| Account Keeping Fees : | Nil |
| Auto repayments (salary/account) : | Yes |
| Redraw facility : | Yes (free redraw, minimum amount $100) |
| Top up facility available : | yes |
| Offset facility available : | Yes |
| Interest rate | Comparison rate | |
| Home Loan - Interest Only Variable | 6.74% p.a. | 6.81% p.a. |
| Document or Information | View or Download |
| Fees, charges and limits | Learn more → |
| Target market determinations | Learn more → |
| Interest rates | Learn more → |
| Important documents | Learn more → |
| Calculators | Learn more → |
Start your application today
Apply online, visit a branch or call us today to speak with a lending specialist. We’re here to help you make your home ownership journey smooth and affordable.
FAQs
Got a question on Home Loans? View all our FAQs here.
The Credit Union is a mutual financial services organisation and as such is owned by its Members, each one of whom is a shareholder. Therefore you must be a member of the credit union to have a loan.
The amount you can borrow is dependent on the type of loan you apply for. The actual amount you can borrow is, however, determined by your ability to meet the repayments of the loan and the value of the loan security. Want to calculate how much you could borrow? Use one of our loan calculators.
The Credit Union gives you the option of making extra repayments on your loan and therefore save money in interest changes and than having the flexibility of being able to redraw on these extra repayments. You need to have your loan in advance by at least your next agreed loan repayment plus $100 and the minimum redraw is $100. Redraws are Free!
Why Transport Mutual?
We’ve been helping transport workers, their families, and the wider community reach their financial goals for over 50 years. As a member-owned credit union, everything we do is designed to benefit you - not big bank profits.
