Police Bank
Essential Workers Home Loan
We want to help find a solution to housing affordability so we’ve partnered with HOPE Housing to offer a solution. At this time, due to significant interest, our co-investor HOPE Housing has indicated that they are reaching their maximum subscription levels, so for now we are taking expressions of interest only.
Home loansBank updated 23 July 2026
At a glance
- Variable (owner occ. P&I)
- 6.04% · 6.11% comparison
- Fixed
- 1 yr 6.24% · 2 yrs 6.24% · 3 yrs 6.14% · 5 yrs 6.49%
- Max LVR
- 95%
- Annual fee
- $84
- Features
- redraw, extra repayments
§ 01 — Rates · 15
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| FixedOwner Occupied P&I LVR<60% 1 Yr C2 | Owner occupied · P&I | 1 yr fixed | ≤60% LVR | 6.24% | 6.13% | — |
| FixedOwner Occupied P&I LVR 60%-90% 1 Yr C3 | Owner occupied · P&I | 1 yr fixed | 60–90% LVR | 6.24% | 6.18% | — |
| FixedOwner Occupied P&I LVR 90-95% 1 Yr C1 | Owner occupied · P&I | 1 yr fixed | 90–95% LVR | 6.34% | 6.41% | — |
| FixedOwner Occupied P&I LVR<60% 2 Yr C2 | Owner occupied · P&I | 2 yrs fixed | ≤60% LVR | 6.24% | 6.15% | — |
| FixedOwner Occupied P&I LVR 60%-90% 2 Yr C3 | Owner occupied · P&I | 2 yrs fixed | 60–90% LVR | 6.24% | 6.19% | — |
| FixedOwner Occupied P&I LVR 90-95% 2 Yr C1 | Owner occupied · P&I | 2 yrs fixed | 90–95% LVR | 6.34% | 6.41% | — |
| FixedOwner Occupied P&I LVR<60% 3 Yr C2 | Owner occupied · P&I | 3 yrs fixed | ≤60% LVR | 6.14% | 6.14% | — |
| FixedOwner Occupied P&I LVR 60%-90% 3 Yr C3 | Owner occupied · P&I | 3 yrs fixed | 60–90% LVR | 6.14% | 6.18% | — |
| FixedOwner Occupied P&I LVR 90-95% 3 Yr C1 | Owner occupied · P&I | 3 yrs fixed | 90–95% LVR | 6.24% | 6.39% | — |
| FixedOwner Occupied P&I LVR<60% 5 Yr C2 | Owner occupied · P&I | 5 yrs fixed | ≤60% LVR | 6.49% | 6.31% | — |
| FixedOwner Occupied P&I LVR 60%-90% 5 Yr C3 | Owner occupied · P&I | 5 yrs fixed | 60–90% LVR | 6.54% | 6.36% | — |
| FixedOwner Occupied P&I LVR 90-95% 5 Yr C1 | Owner occupied · P&I | 5 yrs fixed | 90–95% LVR | 6.69% | 6.57% | — |
| VariableOwner Occupied P&I LVR<60% C2 | Owner occupied · P&I | — | ≤60% LVR | 6.04% | 6.11% | — |
| VariableOwner Occupied P&I LVR 60%-90% C3 | Owner occupied · P&I | — | 60–90% LVR | 6.09% | 6.16% | — |
| VariableOwner Occupied P&I LVR 90-95%% C1 | Owner occupied · P&I | — | 90–95% LVR | 6.34% | 6.41% | — |
§ 02 — Fees · 33
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Issue of Statutory Default Notice Legal Fees | Dishonour | $0 | — | — |
| Additional Valuation Fee | Event | $0 | — | At Cost. Payable to our valuer if more than one security is required for your loan and/or when application is made for additional finance and/or altering the title of the property or the property its… |
| Arrears Letter Fee | Event | $6.50 | — | Payable when we send you an arrears letter asking you to remedy an arrears under a loan contract. |
| Consent to Subdivision Fee | Event | $162 | — | Payable when you ask for our consent to register a subdivision or other plan or dealing. |
| Default Notice Fee | Event | $21.50 | — | — |
| Dishonoured Cheque fee | Event | $9 | — | Payable when a cheque or other payment to your account is dishonoured. |
| Dishonoured Member Cheque fee | Event | $9 | — | Per cheque dishonoured. |
| Excess Valuation fee | Event | $0 | — | At Cost. Payable if and when the costs of valuing your security property/ies exceeds $300 in aggregate over the term of the loan. Calculated as an amount of the excess. |
| Fixed Rate Lock Fee | Event | $600 | — | — |
| Future Legal Costs and Disbursements Relating to any Variations, Dealings, Discharges | Event | $0 | — | At Cost. Payable to our solicitors when we incur costs in the enforcement of your contract. The costs may include court costs, legal costs, repossession costs and administrative costs. |
| General Consent Fee | Event | $250 | — | Payable when you ask for our consent to any matter relating to a loan contract or security (other than a matter for which a separate fee is payable). |
| Independent Legal Advice/Interpreter Service | Event | $0 | — | At Cost. You may be advised to seek independent legal advice or interpreter services. If so, you will be charged a fee by the service provider. |
| Insurance | Event | $0 | — | At Cost. Insurance requirements may vary from applicant to applicant. Any compulsory insurance requirements will be advised on application. For example, you may be required to pay for Lenders Mortgag… |
| Legal/Securities fees | Event | $0 | — | At Cost. |
| Mortgage Loan Top Up / Increase in Credit Limit Fee | Event | $315 | — | Payable on application or funding. Applies to all Home Loan Applications |
| Other Government Duties & Taxes | Event | $0 | — | At Cost. Any applicable Government Taxes, Duties and Fees will be passed on to you. |
| Other Legal/ Solicitors Fees | Event | $0 | — | At Cost. Payable to our solicitors when you ask us to take any action in respect of the loan or your property and we incur legal fees. |
| Pest & Building Inspections Fees | Event | $0 | — | At Cost. Payable to inspectors if we require a pest or building inspection. |
| PPSR Fees (Personal Properties Security Register) | Event | $0 | — | At Cost. Certain loans will require us to use the services of PPSR. If we do so, the following may be payable; PPSR Registration Fee, PPSR Financier Interest Enquiry and PPSR Variation of Interest. |
| Production of Title Fee | Event | $110 | — | Payable to our solicitors when you ask us to produce the certificate of title of your property to enable registration of a plan or any document dealing with your property |
| RTGS Transfer Fee | Event | $10.50 | — | Payable when we are required to transfer settlement funds to an agent on behalf of our Solicitor. |
| Second Mortgage Consent Fee | Event | $75 | — | Payable when you ask us to consent to a second mortgage. |
| Stamp Duty Increase Fee | Event | $0 | — | At Cost. Payable at the rate charged by the Office of State Revenue or its interstate counterparts when topping up an existing loan where the original stamp duty is not sufficient; when payable by la… |
| Stamp Duty | Event | $0 | — | At Cost. Payable at the rate charged by the Office of State Revenue or its interstate counterparts when payable by law. |
| Substituting of Security Legal fee | Event | $605 | — | Payable to us when you substitute an existing property with a new property as security for your home loan. |
| Substituting Securities fee | Event | $315 | — | Payable to us when you substitute an existing property with a new property as security for your home loan. |
| Mortgage Discharge Fee | Exit | $294 | — | Payable when you ask us to prepare a discharge of mortgage. Note: This fee does not include registration costs for the land titles office |
| Late Payment Fee | Late payment | $10 | — | Charged where the whole or any part of your loan repayment remains unpaid after 14 days past the due date. Applies to all Police Bank loans and continuing credit accounts |
| Additional Statement Fee | Other | $0 | — | $5.00 + $1.50 per page, payable when you request an additional statement. |
| Early Repayment Fee | Other | $0 | — | Early Repayment Fee payable, if, during any fixed rate period, you: (a) repay the whole of your unpaid balance (full early repayment); (b) pay $5000 or more in repayments above the contractual repaym… |
| Third Party Costs | Other | $0 | — | Any other costs charged to us by a third party will be passed on to you. Some examples are as follows: • Title Change Fee • Land and Property Information Search Fees • Land and Property Information R… |
| Monthly Product Split Fee | Periodic | $7 | Every 1 mo | $7 per additional product per month during the period of the split, debited to the account for the other product each month. |
| Establishment fee | Upfront | $600 | — | — |
§ 03 — Features
RedrawExtra repayments
- · Confirmation Of Payee
- · Split loan
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Australian Residents
- · Available to individuals
- · Amount $50,000 to no maximum
- · Maximum LVR 95%
- · Available to the following: First responders – Police officers, ambulance officers, firefighters, paramedics, rescue workers. Frontline workers – nurses, allied health workers, school teachers, socia…
§ 06 — Run the numbers
Put this product through a calculator
Published by Police Bank under the Consumer Data Right, last changed by them on 23 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.