BDCU Alliance Bank Home Loan Review

BDCU Alliance Bank Home Loan Review

Read Here for Our BDCU Alliance Bank Home Loan Review:

BDCU Alliance Bank offers variable and fixed home loans with interest rates as low as 1.99% per annum.

About BDCU Alliance Bank

The BDCU Alliance Bank traces its roots to the Southern Portland Cement factory. In 1963, a group of workers from the Southern Portland Cement Works pooled their resources to establish a savings and loan fund in New South Wales. The Berrima District Credit Union (BDCU) was a response to the community’s need for easier access to low-value loans. 

From its original 257 members, BDCU has grown to more than 14,000 and now has a loan book of more than $100 million. 

A 100% member-owned social enterprise, BDCU Alliance Bank has branches in Moss Vale, Bowral, Goulburn and Mittagong. Membership is open to residents of the NSW Southern Highlands and Tablelands.

Types of BDCU Alliance home loans

  1. Fixed rate home loan

BDCU Alliance lets you lock in your interest rate, so you know exactly how many repayments you have to make within a fixed period.

  • 1.99% 4-year fixed rate per annum
  • 3.17% per annum comparison rate
  • Fixed interest rate (1 to 5 years)
  • Offset account available
  • Free redraw facility 
  • Repay up to 20% off your fixed-rate home loan without penalty
  • Zero fees
  • Enjoy peace of mind with fixed monthly repayments
  • Flexible repayments
  • Unlimited eligible BDCU Alliance Bank transactions
  • Discount on general insurance premiums
  1. Home SMART package

The BDCU Alliance Home SMART package offers home loans of over $150,000. For just $395 per year, you get to save money on interest and fees, and access features such as discounted insurance premiums and bonus savings interest rates.

  • 1.99% interest rate per annum
  • 3.17% per annum comparison rate
  • 0.70% off standard variable interest rate or 0.20% off fixed interest rate
  • Unlimited BDCU Alliance Bank transactions on basic or FLEX accounts
  • Zero monthly fees
  • Zero loan establishment fees
  • Personal package bonus account of 0.25% interest per annum on My Community Account rates
  • 5% off general insurance premiums
  • No credit/debit card annual fees
  1. Variable home loan

BDCU Alliance also offers home loans with competitive variable interest rates.

  • 2.69% variable rate per annum
  • 3.14% per annum comparison rate
  • LVR 60% or less
  • Zero fees
  • Offset account available
  • Free redraw facility
  • Unlimited eligible BDCU Alliance Bank transactions
  • Discount on general insurance premiums
  1. Easy access loan

If you are able to secure a BDCU Alliance Home Equity line of credit, you will only pay for the interest calculated on your home loan – and as much of the principal as you choose – for extra flexibility or tax advantages.

  • 5.21% interest rate per annum
  • $20,000 minimum amount
  • $550 establishment fee
  • $80 annual service fee
  • Interest charges calculated daily and charged monthly
  • Free redraw facility
  • Lump-sum repayments
  • Early repayment without penalty

How do I apply for a BDCU Alliance Bank home loan?

If you would like to apply for a home loan from BDCU Alliance Bank, you must meet certain criteria. The most basic eligibility requirements are age, residency and income.

  • You must be over 18 years old
  • You should be a resident of Australia
  • You must be employed or show proof of a regular source of income

What documents are required to secure a home loan?

When you apply for a mortgage with BDCU Alliance Bank, you are required to submit information about your person and financial status. Please prepare the following documents before you apply:

  • Passport, driver's license, or birth certificate
  • Payslip from the last few months
  • List of assets and liabilities

Compare Home Loans at Makes Cents

Finding the right home loan that fits your needs and budget can be a challenge. Fortunately, Makes Cents allows you to compare different plans from Australia's Big Four banks and more. Check out our comparison tool today to get started.

Our BDCU Alliance Bank Home Loan Review is just one of many. You can also read reviews on many more Home Loan Reviews at MakesCents.

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