The works package fixed home loan
The works package fixed home loan 1 year fixed rate (P&I) home loan
For owner occupied fixed home loans
Fixed interest rate
Comparison rate*
what’s included.
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.
Things you need to know
A home loan that offers the works is available to borrowers who meet the Credit Union's standard lending criteria.
| The Works Package owner occupied fixed | ||
| Interest Rate | Comparison Rate* | |
| 1 year (P&I) | 2.99% p.a. | 3.28% p.a. |
| 1 year (IO) | 3.79% p.a. | 3.35% p.a. |
| 2 year (P&I) | 3.49% p.a. | 3.38% p.a. |
| 3 year (P&I) | 4.04% p.a. | 3.58% p.a. |
After your fixed term expires, it will revert to The Works Package principal & interest variable owner occupied interest rate.
| The Works Package investment fixed | ||
| Interest Rate | Comparison Rate* | |
| 1 year (P&I) | 3.19% p.a. | 4.00% p.a. |
| 1 year (IO) | 3.59% p.a. | 4.04% p.a. |
| 2 year (P&I) | 3.89% p.a. | 4.10% p.a. |
| 2 year (IO) | 4.09% p.a. | 4.13% p.a. |
| 3 year (P&I) | 4.39% p.a. | 4.26% p.a. |
| 3 year (IO) | 4.59% p.a. | 4.31% 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 $250) payable at funding for costs incurred in obtaining a valuation
- Legal fees: at cost (minimum $440) payable
- Other fees may apply
Important documents:
- Refer to the Fees and Charges
- Home Loan Key Facts Sheets
- The Works Package Conditions of Use
- Grandfathered Fees & Transactions
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 member)
- Australian driver’s licence, Medicare or passport details
- Employment and income details
- Details of your assets, expenses and liabilities
Extra tools and benefits
Borrowing power calculator
Learn how much you can borrow and see what your repayments could be by using our online borrowing power calculator. Simply enter your income and expenses to receive an estimate.
Learn moreLenders Mortgage Insurance
Are you interested in entering the property market but not sure if you have the right deposit? Consider taking out Lender Mortgage Insurance (LMI)
Tips for refinancing
Learn more about how to refinance your home loan to Illawarra Credit Union, so you can enjoy the mutual difference. Great Value. Great Service. #MakeTheMove
Learn moreImportant 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 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
