Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

Police Bank is a mutual financial institution that services the wider police community.

It originally started as the Police Credit Union (PCU) in the early 1960s when a group of police officers at Clarence Street Police Station in Sydney had the vision to form a mutual organisation for the benefit of all officers.

PCU was officially registered and opened for business in 1964 with just 60 members. Today, it is one of the biggest and most successful mutual banks in Australia, a testament to the loyalty and support its members provide.

Police Bank is supervised by the Australian Prudential Regulation Authority (APRA), the same body that supervises the major banks, to maintain operational standards, which ensures security of its members’ funds. The bank promotes the principles of member-owned financial institutions, i.e. to meet the financial needs of members with dignity, honesty and integrity.

Police Bank has its head office in Surry Hills, as well as service centres in Canberra, Gosford, Goulburn, Mascot, Melbourne, Narellan, Newcastle, Norwest, Parramatta, Penrith, Port Macquarie, and Wollongong. Aside from visiting these locations, you can also contact the bank via a general customer phone line or a direct line for loans and insurance.

The bank provides financial products and services to those working in the police and enforcement services, as well as their families. These range from home and personal loans, savings accounts, credit cards, insurance, as well as financial planning and investment advice.

You will have to become a member to take out a home loan with Police Bank – which means you will need to be currently or formerly employed by the police force, or be a relative of a member. Membership is free but comes with the condition that if the bank ever goes bust, you will pay $10 to its closing management.

To apply for a home loan with Police Bank, make sure you have these details at hand:

  • Photo ID
  • Information on your employment and salary
  • Proof of regular income (like payslips or bank statements)
  • Proof of any assets you hold including property, shares or savings
  • Details of your expenses (including debts)
  • For refinancers: Home loan statements for the past six months and a current payout quote for the loan you wish to refinance

You can apply for a home loan in a number of ways. These include an online application or enquiry form, speaking to a home loan specialist via a dedicated phone line, or in person at a Police Bank branch.