The Works Package Fixed Home Loan.

The Works Package 2 year fixed rate (P&I) home loan For owner occupied fixed home loans
5.59%p.a. Fixed interest rate
6.39%p.a. Comparison rate*

Features & benefits.

Transaction Account

Make easy home loan repayments from your Everyday Transaction Account, with no monthly fees^ and a Visa Debit Card so you can make purchases.

Credit Card

Pay no annual credit card fee on our no bull low rate credit card provided you satisfy The Works Package conditions.

Choose Your Term and Lock In your rate

Choose what works for you with 1,2, and 3 year fixed term options. Your interest rate will remain the same for the chosen term of your fixed rate home loan.

Split Loan Option

Slice and dice your home loan with fixed and variable options. By combining the two, you can enjoy the security of a fixed interest rate and the flexibility of a variable.

Rates & fees.

The Works Package Owner Occupied

Loan Type Interest Rate Comparison Rate*
1 year fixed
Principal & Interest
5.79% p.a. 6.46% p.a.
1 year fixed
Interest Only
6.24% p.a. 6.50% p.a.
2 year fixed
Principal & Interest
5.59% p.a. 6.39% p.a.
3 year fixed
Principal & Interest
5.69% p.a. 6.38% p.a.

After your fixed term expires, it will revert to The Works Package principal & interest variable owner occupied interest rate.

Interest & fees

Interest is calculated daily on the outstanding balance, and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

Fees applicable to this product include:

  • Package fee: $395 annual fee for up to five loans
  • Application fee: Waived, usually $600
  • Valuation fee: At cost (minimum $149) payable at funding for costs incurred in obtaining a valuation
  • Legal fees: at cost (minimum $440) payable
  • Other fees may apply

Important documents:

To reduce or cancel your credit limit, click here.

Rates & fees.

The Works Package Residential Investment

Loan Type Interest Rate Comparison Rate*
1 year fixed
Principal & Interest
5.94% p.a. 6.74% p.a.
1 year fixed
Interest Only
6.14% p.a. 6.76% p.a.
2 year fixed
Principal & Interest
5.74% p.a. 6.66% p.a.
2 year fixed
Interest Only
5.94% p.a. 6.70% p.a.
3 year fixed
Principal & Interest
5.84% p.a. 6.64% p.a.
3 year fixed
Interest Only
6.04% p.a. 6.69% p.a.

After your fixed term expires, it will revert to The Works Package principal & interest variable investment interest rate.

Interest & fees

Interest is calculated daily on the outstanding balance, and charged monthly in arrears on the last day of each month. Refer to our rates and fees for more information.

Fees applicable to this product include:

  • Package fee: $395 annual fee for up to five loans
  • Application fee: Waived, usually $600
  • Valuation fee: At cost (minimum $149) payable at funding for costs incurred in obtaining a valuation
  • Legal fees: at cost (minimum $440) payable
  • Other fees may apply

Important documents:

To reduce or cancel your credit limit, click here.

It’s easy to apply online.

Here’s what you’ll need to apply online

  • Be at least 18 years of age or older
  • Be an Australian citizen, permanent resident, or have a valid visa
  • Receive a regular income
  • Have your membership number if you already bank with us

What you’ll need.

  • An email address and contact number
  • Member number (If you’re already a customer)
  • Australian driver’s licence, Medicare or passport details
  • Employment and income details
  • Details of your assets, expenses and liabilities

We're here for you.

Sometimes you just need to reach out to find what's the best fit for you. No worries! We're here to support you with whatever you need.

FASTRefi®

Want to refinance in a fraction of the usual time with less hassle? FASTRefi® makes it easy.

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Ways to bank

Looking for ways you can bank with the Illawarra Credit Union?

Ways to bank

Are you a First Home Buyer?

With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee (FHBG).

Find out more

Important notes

^Home loan repayments must be direct debited from an Illawarra Credit Union transaction account. Annual package fee payable yearly.

The Works Package owner occupied Fixed principal & interest (P&I) and interest only (IO) rate reverts to The Works Package Variable owner occupied principal & interest rate after the fixed period. *Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Eligibility criteria, terms & conditions, fees & charges apply. Please refer to the Fees and Charges

For our complete package conditions review The Works Package Conditions of Use.

Grandfathered Fees & Transactions

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Already a customer?

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New customer?

Apply online