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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 3 Nov 2026
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At a glance

Variable (owner occ. P&I)
6.29%6.36% comparison
Fixed
1 yr 6.39%, 2 yrs 6.39%, 3 yrs 6.49%, 5 yrs 6.64%
Max LVR
95%
Annual fee
$84
Features
redraw, extra repayments

Rates

Every rate Police Bank publishes for this home loan, 15 in all.

Variable and fixed, at 80% LVR

Owner occupier, principal and interest, the lowest rate for each

  1. Variabletypical 6.38%6.34%
  2. 1 yr fixedtypical 6.59%6.39%
  3. 2 yrs fixedtypical 6.62%6.39%
  4. 3 yrs fixedtypical 6.69%6.49%
  5. 5 yrs fixedtypical 6.89%6.69%
This home loanTypical lender's best

Variable rate by LVR

Owner occupier, principal and interest, the lowest rate published for each band of the loan's share of the property's value

  1. ≤60%6.29%
  2. 60–90%6.34%
  3. 90–95%6.59%
Variable rate for the band
TypeApplies toTermBandRateComparisonConditions
FixedOwner Occupied P&I LVR<60% 1 Yr C2Owner occupied, P&I1 yr fixed≤60% LVR6.39%6.37%-
FixedOwner Occupied P&I LVR 60%-90% 1 Yr C3Owner occupied, P&I1 yr fixed60–90% LVR6.39%6.42%-
FixedOwner Occupied P&I LVR 90-95% 1 Yr C1Owner occupied, P&I1 yr fixed90–95% LVR6.49%6.65%-
FixedOwner Occupied P&I LVR<60% 2 Yr C2Owner occupied, P&I2 yrs fixed≤60% LVR6.39%6.38%-
FixedOwner Occupied P&I LVR 60%-90% 2 Yr C3Owner occupied, P&I2 yrs fixed60–90% LVR6.39%6.42%-
FixedOwner Occupied P&I LVR 90-95% 2 Yr C1Owner occupied, P&I2 yrs fixed90–95% LVR6.49%6.64%-
FixedOwner Occupied P&I LVR<60% 3 Yr C2Owner occupied, P&I3 yrs fixed≤60% LVR6.49%6.42%-
FixedOwner Occupied P&I LVR 60%-90% 3 Yr C3Owner occupied, P&I3 yrs fixed60–90% LVR6.49%6.46%-
FixedOwner Occupied P&I LVR 90-95% 3 Yr C1Owner occupied, P&I3 yrs fixed90–95% LVR6.59%6.66%-
FixedOwner Occupied P&I LVR<60% 5 Yr C2Owner occupied, P&I5 yrs fixed≤60% LVR6.64%6.52%-
FixedOwner Occupied P&I LVR 60%-90% 5 Yr C3Owner occupied, P&I5 yrs fixed60–90% LVR6.69%6.57%-
FixedOwner Occupied P&I LVR 90-95% 5 Yr C1Owner occupied, P&I5 yrs fixed90–95% LVR6.84%6.78%-
VariableOwner Occupied P&I LVR<60% C2Owner occupied, P&I-≤60% LVR6.29%6.36%-
VariableOwner Occupied P&I LVR 60%-90% C3Owner occupied, P&I-60–90% LVR6.34%6.41%-
VariableOwner Occupied P&I LVR 90-95%% C1Owner occupied, P&I-90–95% LVR6.59%6.66%-

Rate changes

15 changes logged, newest first.

DateRateWasNowChange
3 Nov 2026Fixed, Owner occupied, P&I, 1 yr fixed, ≤60% LVR6.24%6.39%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 1 yr fixed, 60–90% LVR6.24%6.39%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 1 yr fixed, 90–95% LVR6.34%6.49%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 2 yrs fixed, ≤60% LVR6.24%6.39%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 2 yrs fixed, 60–90% LVR6.24%6.39%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 2 yrs fixed, 90–95% LVR6.34%6.49%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 3 yrs fixed, ≤60% LVR6.14%6.49%up 0.35
3 Nov 2026Fixed, Owner occupied, P&I, 3 yrs fixed, 60–90% LVR6.14%6.49%up 0.35
3 Nov 2026Fixed, Owner occupied, P&I, 3 yrs fixed, 90–95% LVR6.24%6.59%up 0.35
3 Nov 2026Fixed, Owner occupied, P&I, 5 yrs fixed, ≤60% LVR6.49%6.64%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 5 yrs fixed, 60–90% LVR6.54%6.69%up 0.15
3 Nov 2026Fixed, Owner occupied, P&I, 5 yrs fixed, 90–95% LVR6.69%6.84%up 0.15
15 Oct 2026Variable, Owner occupied, P&I, ≤60% LVR6.04%6.29%up 0.25
15 Oct 2026Variable, Owner occupied, P&I, 60–90% LVR6.09%6.34%up 0.25
15 Oct 2026Variable, Owner occupied, P&I, 90–95% LVR6.34%6.59%up 0.25

Each change is logged the night it appears in the rates Police Bank publishes. See how every lender answered the RBA on the rate tracker.

Fees

33 fees published, grouped by when they're charged.

  1. When you take it out$600Establishment fee
  2. While you hold it$7 a monthMonthly Product Split Fee
  3. When you close it or pay it off$294Mortgage Discharge Fee

When you take it out1

  • Establishment fee
    $600

While you hold it1

  • Monthly Product Split Fee

    $7 per additional product per month during the period of the split, debited to the account for the other product each month.

    $7 a month

If a payment is late or fails2

  • Issue of Statutory Default Notice Legal Fees
    From $0
  • Late Payment Fee

    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

    $10

When particular things happen25

  • Additional Valuation Fee

    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…

    From $0
  • Arrears Letter Fee

    Payable when we send you an arrears letter asking you to remedy an arrears under a loan contract.

    $6.50
  • Consent to Subdivision Fee

    Payable when you ask for our consent to register a subdivision or other plan or dealing.

    $162
  • Default Notice Fee
    $21.50
  • Dishonoured Cheque fee

    Payable when a cheque or other payment to your account is dishonoured.

    $9
  • Dishonoured Member Cheque fee

    Per cheque dishonoured.

    $9
  • Excess Valuation fee

    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.

    From $0
  • Fixed Rate Lock Fee
    $600
  • Future Legal Costs and Disbursements Relating to any Variations, Dealings, Discharges

    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.

    From $0
  • General Consent Fee

    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).

    $250
  • Independent Legal Advice/Interpreter Service

    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.

    From $0
  • Insurance

    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…

    From $0
  • Legal/Securities fees

    At Cost.

    From $0
  • Mortgage Loan Top Up / Increase in Credit Limit Fee

    Payable on application or funding. Applies to all Home Loan Applications

    $315
  • Other Government Duties & Taxes

    At Cost. Any applicable Government Taxes, Duties and Fees will be passed on to you.

    From $0
  • Other Legal/ Solicitors Fees

    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.

    From $0
  • Pest & Building Inspections Fees

    At Cost. Payable to inspectors if we require a pest or building inspection.

    From $0
  • PPSR Fees (Personal Properties Security Register)

    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.

    From $0
  • Production of Title Fee

    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

    $110
  • RTGS Transfer Fee

    Payable when we are required to transfer settlement funds to an agent on behalf of our Solicitor.

    $10.50
  • Second Mortgage Consent Fee

    Payable when you ask us to consent to a second mortgage.

    $75
  • Stamp Duty Increase Fee

    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…

    From $0
  • Stamp Duty

    At Cost. Payable at the rate charged by the Office of State Revenue or its interstate counterparts when payable by law.

    From $0
  • Substituting of Security Legal fee

    Payable to us when you substitute an existing property with a new property as security for your home loan.

    $605
  • Substituting Securities fee

    Payable to us when you substitute an existing property with a new property as security for your home loan.

    $315

When you close it or pay it off1

  • Mortgage Discharge Fee

    Payable when you ask us to prepare a discharge of mortgage. Note: This fee does not include registration costs for the land titles office

    $294

Other fees3

  • Additional Statement Fee

    $5.00 + $1.50 per page, payable when you request an additional statement.

    From $0
  • Early Repayment Fee

    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…

    From $0
  • Third Party Costs

    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…

    From $0

Features

RedrawExtra repayments
  • Confirmation Of Payee
  • Split loan

Eligibility and limits

  • Minimum age 18
  • Residency: Australian Residents
  • Available to individuals
  • Amount from $50,000, 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…

Published by Police Bank under the Consumer Data Right, last changed by them on 3 Nov 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.