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Interest rates

Are you curious to find out more about our current rates? To make it simple, we’ve placed all our rates in the one spot so you can check them out below. Don’t fret, they’re easy to understand. But if you have any questions, just call us 13 22 49.

Owner Occupied Home Loans
Investment Home Loans
Personal Loan Rates
Transaction Accounts
Savings Accounts
Term Deposit
Business loans
Business Term deposit
Grandfathered
Important Notes
Fixed Loans
Variable Loans
principal & interest interest only
The Works Package Fixed

 

 interest rate comparison rate interest rate comparison rate
1 year 2.34% p.a.2 3.00% p.a.1 2.79% p.a.2 3.04% p.a.1
2 years 2.29% p.a.2 2.98% p.a.1 N/A N/A
3 years 2.35% p.a.2 2.98% p.a.1 N/A N/A
5 years 2.74% p.a.2 3.11% p.a.1 N/A N/A
The works package 2 year special3. >$150K 1.99% p.a.2 2.93% p.a.1 N/A N/A
The works package 3 year special3. >$150K 1.99% p.a.2 2.89p.a.1 N/A N/A
The works package 4 year special3. >$150K 1.99% p.a.2 2.85p.a.1 N/A N/A

 

principal & interest interest only
Bare Essentials Fixed
 interest rate comparison rate interest rate comparison rate
1 year 2.65% p.a.2 2.65% p.a.1 2.80% p.a.2 2.66% p.a.1
2 years 2.65% p.a.2 2.65% p.a.1 N/A N/A
3 years 2.40% p.a.2 2.60% p.a.1 N/A N/A
5 years 3.04% p.a.2 2.82% p.a.1 N/A N/A

 

principal & interest interest only
Standard Fixed Home Loan
 interest rate comparison rate interest rate comparison rate
1 year 2.69% p.a.2 3.61 % p.a.1 3.95% p.a.2 3.72% p.a.1
2 year 2.79% p.a.2 3.54% p.a.1 3.89% p.a.2 3.74% p.a.1
3 year 2.79% p.a.2 3.47% p.a.1 3.89% p.a.2 3.76% p.a.1
5 year 3.14% p.a.2 3.49% p.a.1 4.09% p.a. 2 3.87% p.a.1

 

1 Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.
2 Fixed rate reverts to our Variable rate or Variable Invest rate as applicable after the fixed period.
3For new home loans >$150K, after your introductory special term expires, it will revert to The Works Package owner occupied, variable principal & interest rate.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.
principal & interest interest only
Bare Essentials

>$150K –  <$800K

 interest rate comparison rate interest rate comparison rate
First home loan offer 2.45% p.a. 2.50% p.a.1 N/A N/A

 

principal & interest interest only
The Works Package

 

 interest rate comparison rate interest rate comparison rate
The works package 2.50% p.a. 3.01%  p.a.1 3.25% p.a. 3.74% p.a.1
The works package 2 year intro special3. >$150K 1.99% p.a. 2.93% p.a.1 N/A N/A

 

principal & interest interest only
Standard Home Loan
 interest rate comparison rate interest rate comparison rate
Standard Home Loan 3.64% p.a. 3.69% p.a1 4.00% p.a. 4.05% p.a.1

 

principal & interest interest only
bare essentials
 interest rate comparison rate interest rate comparison rate
Bare Essentials 2.59% p.a. 2.64% p.a.1 3.85% p.a. 3.90% p.a.1

 

principal & interest interest only
reference rates
 interest rate comparison rate interest rate comparison rate
The Works Package 3.59% p.a. 3.89% p.a.1 4.05% p.a. 4.35% p.a.1
Standard variable 4.54% p.a. 4.59% p.a.1 4.90% p.a1 4.95% p.a1
2 year Introductory 4.60% p.a. 4.65% p.a.1 N/A N/A
Bare essentials 4.24% p.a. 4.29% p.a.1 4.50% p.a1 4.55%p.a1
The Works 3.59% p.a. 3.89% p.a.1

 

1 Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.
2 Fixed rate reverts to our Variable rate or Variable Invest rate as applicable after the fixed period.
3For new home loans >$150K, after your introductory special term expires, it will revert to The Works Package owner occupied, variable principal & interest rate.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.
Fixed Loans
Variable Loans
principal & interest interest only
The works package invest fixed
 rate comparison rate rate comparison rate
1 year 2.85% p.a.2 3.75% p.a.1 2.85% p.a.2 3.75% p.a.1
2 year 2.59% p.a.2 3.67% p.a.1 2.64% p.a.2 3.68% p.a.1
3 year 2.55% p.a.2 3.60% p.a.1 2.65% p.a.2 3.63% p.a.1
4 year 3.09% p.a.2 3.72% p.a.1 N/A N/A
5 year 3.09% p.a.2 3.71% p.a.1 3.24% p.a.2 3.77% p.a.1

 

principal & interest interest only
Bare Essentials invest fixed
 rate comparison rate rate comparison rate
1 year 2.85% p.a.2 3.21% p.a.1 2.85% p.a.2 3.21% p.a.1
2 year 2.75% p.a.2 3.17% p.a.1 2.75% p.a.2 3.17% p.a.1
3 year 2.65% p.a.2 3.12% p.a.1 2.65% p.a.2 3.12% p.a.1
5 year 3.55% p.a.2 3.39% p.a.1 3.55% p.a.2 3.39% p.a.1

 

principal & interest interest only
Standard Fixed Investment
 rate comparison rate rate comparison rate
1 year 3.75% p.a.2 4.30% p.a.1 3.99% p.a.2 4.32% p.a.1
2 year 3.80% p.a.2 4.26% p.a.1 3.85% p.a.2 4.27% p.a.1
3 year 3.75% p.a.2 4.21% p.a.1 3.78% p.a.2 4.22% p.a.1
5 year 4.18% p.a.2 4.30% p.a.1 3.99% p.a.2 4.23% p.a.1

 

1 Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.
2 Fixed rate reverts to our Variable rate or Variable Invest rate as applicable after the fixed period.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.
principal & interest interest only
The Works Package Investment
 rate comparison rate* rate comparison rate*
Variable 3.30% p.a. 3.79% p.a.1 3.30% p.a. 3.79% p.a.1
The Works Package Investment Reference Rate 4.35% p.a. N/A 4.60% p.a. N/A

 

principal & interest interest only
Bare Essentials Investment
 rate comparison rate* rate comparison rate*
Bare Essentials Investment 3.19% p.a. 3.24% p.a.1 3.39% p.a. 3.44% p.a.1
Bare Essentials Investment Reference rate 4.64% p.a. 4.69% p.a.1 4.90% p.a. 4.95% p.a.1

 

principal & interest interest only
Standard Variable Investment Home Loan
 rate comparison rate rate comparison rate
Standard Investment home loan 4.30% p.a. 4.35% p.a.1 4.40% p.a. 4.45% p.a.1

 

principal & interest interest only
standard variable investment home loan reference rate
 rate comparison rate rate comparison rate
Standard variable investment reference rate 5.05% p.a. N/A 5.15% p.a. N/A

 

1 Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.
2 Fixed rate reverts to our Variable rate or Variable Invest rate as applicable after the fixed period.
3For new home loans >$150K, after your introductory special term expires, it will revert to The Works Package owner occupied, variable principal & interest rate.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.

 

Personal loan rates
 Rate Comparison rate 
Secured Fixed Personal Loan (new asset) 5.60%p.a. 5.88%p.a.4
Secured Fixed Personal Loan (used asset) 5.64%p.a. 5.92%p.a.4
Unsecured Fixed Personal Loan 9.75%p.a. 10.04%p.a.5
Secured Variable Personal Loan6 6.25% p.a. 6.89% p.a.4

 

Overdraft Rates
  variable rate  comparison rate 
personal overdraft (unsecured) 14.71%p.a. N/A
personal overdraft (mortgage secured) 11.86%p.a. N/A

 

4 Comparison rates are calculated on a secured loan amount of $30,000 over a term of 5 years.
5 Comparison rates are calculated on an unsecured loan amount of $30,000 over a term of 5 years.
6 Secured Variable Personal Loan available on new assets up to 2 years old. This product is only available as part of the Online Personal Loan Package. A discount of 1.00% applies where the package conditions are met.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.
Everyday Student
balance interest rate
$0+ 0.00% p.a.
Everyday
balance interest rate
$0+ 0.00% p.a.
Everyday Plus
balance interest rate
$0  – $9,999 0.05% p.a.
$10,000 – $29,999 0.05% p.a.
$30,000 – $49,999 0.05% p.a.
$50,000 – $99,999 0.35% p.a.
$100,000 – $249,999 0.35% p.a.
$250,000 + 0.55% p.a.
Everyday Business
balance interest rate
$0 – $4,999 0.00% p.a.
$5,000 – $49,999 0.00% p.a.
$50,000 + 0.00% p.a.

 

Wildlife Saver
balance interest rate
$0 plus (base interest) 0.00% p.a.
$0 – $3,000 (bonus interest) 1.70% p.a.1
$3,000 – $25,000 (bonus interest) 0.50% p.a.1
Saver
balance interest rate
$0 – $9,999 0.05% p.a.
$10,000 – $29,999 0.05% p.a.
$30,000 – $49,999 0.25% p.a.
$50,000 – $79,999 0.25% p.a.
$80,000 – $99,999 0.50% p.a.
$100,000 + 0.05% p.a.
Bonus Saver2
balance interest rate
$0 plus (base interest) 0.00% p.a.
Bonus interest on the part of the balance from $0 to $9,999 0.40% p.a.3
Bonus interest on the part of the balance from $10,000 to $29,999 0.50% p.a3.
Bonus interest on the part of the balance from $30,000 to $49,999 0.75% p.a.3
Bonus interest on the part of the balance from $50,000 to $79,999 0.80% p.a.3
Bonus interest on the part of the balance from $80,000 to $99,999 1.20% p.a.3
Cash Management
balance interest rate
$0 – $4,999 0.00% p.a.
$5,000 – $9,999 0.00% p.a.
$10,000 – $19,999 0.01% p.a.
$20,000 – $49,999 0.15% p.a.
$50,000 – $99,999 0.20% p.a.
$100,000 + 0.25% p.a.

 

1 Earn bonus interest when you deposit $10 per month and no withdrawals in the same month. All portion of funds above $25,000 will be paid the base interest. Bonus interest will not apply in the month the account is closed. Interest is calculated daily on closing credit tier balance and credited at month end.
2Bonus saver is limited to 1 per customer.
3 Earn Bonus Interest when you make deposits of $100 or greater per month and no withdrawals are made in the calendar month. All portions of funds above $100,000 will be paid the base interest. Bonus interest will not apply in the month the account is closed. Interest is calculated daily on closing credit tier balance and credited at month end.
term deposit
interest on maturity $1,000 – $24,999 $25,000- $49,999 $50,000 +
1 month 0.10% p.a. 0.10% p.a. 0.10% p.a.
2 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
3 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
4 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
5 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
6 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
7 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
8 months 0.60% p.a. 0.60% p.a. 0.60% p.a.
9 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
10 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
11 months 0.55% p.a. 0.55% p.a. 0.55% p.a.
12 months 0.25% p.a. 0.25% p.a. 0.25% p.a.
Monthly Interest $1,000 – $24,999 $25,000 – $49,999 $50,000+
12 months 0.50% p.a. 0.50% p.a. 0.50% p.a.

 

For longer term periods, please contact us directly on 13 22 49.
Privilege Plus Club members receive an extra 0.10% (on balances less than 100K) on Interest on Maturity TDs.

 

business variable rate loans
 Rate 
Business Reference Rate (Residentially Secured Loans) 5.40%p.a.
Commercial Reference Rate (Commercially Secured Loans) 5.85%p.a.
Business Term Loan Unsecured Variable 11.70%p.a.
Business Term Loan Residentially Secured (P&I) Variable 5.40%p.a.
Business Term Loan Residentially Secured (IO) Variable 5.40%p.a.
Business Term Loan Commercially Secured (P&I) Variable 5.85%p.a.
Business Term Loan Commercially Secured (IO) Variable 5.85%p.a.
Business Term Loan Commercial Property Secured (P&I) Variable on application

 

business fixed rate loans7
 Rate
Business Term Loan Residentially Secured (P&I) 1 Year Fixed  4.95%p.a.
Business Term Loan Residentially Secured (P&I) 2 Year Fixed 5.20%p.a.
Business Term Loan Residentially Secured (P&I) 3 Year Fixed 5.30%p.a.
Business Term Loan Residentially Secured (P&I) 5 Year Fixed 5.45%p.a.
Business Term Loan Residentially Secured (IO) 1 Year Fixed 4.95%p.a.
Business Term Loan Residentially Secured (IO) 2 Year Fixed 5.20%p.a.
Business Term Loan Residentially Secured (IO) 3 Year Fixed 5.30%p.a.
Business Term Loan Residentially Secured (IO) 5 Year Fixed 5.45%p.a.
Business Term Loan Commercially Secured (P&I) 1 Year Fixed 5.10%p.a.
Business Term Loan Commercially Secured (P&I) 2 Year Fixed 5.20%p.a.
Business Term Loan Commercially Secured (P&I) 3 Year Fixed 5.40%p.a.
Business Term Loan Commercially Secured (P&I) 5 Year Fixed 5.95%p.a.
Business Term Loan Commercially Secured (IO) 1 Year Fixed 5.10%p.a.
Business Term Loan Commercially Secured (IO) 2 Year Fixed 5.20%p.a.
Business Term Loan Commercially Secured (IO) 3 Year Fixed 5.40%p.a.
Business Term Loan Commercially Secured (IO) 5 Year Fixed 5.95%p.a.
Business Term Loan Commercial Property Secured (P&I) 1 Year Fixed on application
Business Term Loan Commercial Property Secured (P&I) 2 Year Fixed on application
Business Term Loan Commercial Property Secured (P&I) 3 Year Fixed on application
Business Term Loan Commercial Property Secured (IO) 1 Year Fixed on application
Business Term Loan Commercial Property Secured (IO) 2 Year Fixed on application
Business Term Loan Commercial Property Secured (IO) 3 Year Fixed  on application

 

business overdraft rates
 Variable Rate 
Unsecured Overdraft  12.40%p.a.
Residentially Secured Overdraft  7.40%p.a.
Commercially Secured Overdraft  8.15%p.a.

 

7 For new business only. Eligibility criteria, terms & conditions, fees & charges apply and are available on request.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.
term deposit
interest on maturity $1,000 – $24,999 $25,000- $49,999 $50,000 +
1 month 0.05% p.a. 0.05% p.a. 0.05% p.a.
2 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
3 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
4 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
5 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
6 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
7 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
8 months 0.40% p.a. 0.40% p.a. 0.40% p.a.
9 months 0.20% p.a. 0.20%p.a. 0.20%p.a.
10 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
11 months 0.35% p.a. 0.35% p.a. 0.35% p.a.
12 months 0.20% p.a. 0.20% p.a. 0.20% p.a.
Monthly Interest $1,000 – $24,999 $25,000 – $49,999 $50,000+
12 months 0.30% p.a. 0.30% p.a. 0.30% p.a.

 

For longer term periods, please contact us directly on 13 22 49.
Privilege Plus Club members receive an extra 0.10% on Interest on Maturity TDs.
Grandfathered Savings Accounts (No longer available after 1 December 2015
christmas promise
 balance interest rate
$0 – $1,999 0.10%p.a.
$2,000 + 1.00%p.a.
Home loan access saver
 balance interest rate
$0 + 0.00%p.a.
home loan lifestyle saver balance interest rate
$0 – $1,999 0.00%p.a.
$2,000 – $49,000 0.05%p.a.
$50,000 + 0.05%p.a.
all-in-one balance interest rate
$0 – $499 0.00%p.a.
$500 – $19,999 0.00%p.a.
$20,000- $49,999 0.00%p.a.
$50, 000 – $99,999 0.00%p.a.
$100, 000+ 0.00%p.a.
Grandfathered Home Loans (No longer available after 1 December 2015)
Variable Rate Comparison Rate
All In One Home Loan 5.08%p.a. N/A
All In One Home Loan Invest 5.38%p.a. N/A
Basic Variable 4.38%p.a. 4.52%p.a.1 
Basic Variable Invest 4.78%p.a. 4.92%p.a.1 
Small Business Loan (Unsecured) 8.50%p.a. N/A
Small Business Loan (Secured) 6.80%p.a. N/A
The Works Variable P&I 2.85% p.a. 3.01% p.a.
Variable Interest Only (1 year) 3.25% p.a. 3.74% p.a.
The Works INV P&I 3.30% p.a. 3.61% p.a.
The Works Variable IO INV 3.60% p.a. 3.90% p.a.
The Works  INV 3 year Fixed P&I 3.39% p.a. 3.92% p.a
The Works  INV 3 year Fixed IO 3.39% p.a. 3.92% p.a.
The Works OO 1 year fixed P&I 2.79% p.a. 3.24% p.a.
The Works 1 year fixed IO 2.79% p.a. 3.24% p.a.
The Works 2 year fixed P&I 2.89% p.a. 3.25% p.a.
The Works 3 year fixed P&I 2.89% p.a. 3.24% p.a.

 

1 comparison rates are calculated on a loan amount of $150,000 over a term of 25 years.
2 Fixed rate reverts to our Variable rate or Variable Invest rate as applicable after the fixed period.
3 Fixed rate reverts to our Variable Lite or Variable Invest Lite rate as applicable after the fixed period.
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 Credit Fees and Charges brochure for current details on fees and charges applicable to our Loans. Interest on all loans is calculated on the daily balance at a daily rate equivalent to the annual rate divided by 365.

Illawarra Credit Union Credit Fees and Charges

Download the brochure below to find out more about our credit fees and charges.

Credit Fees and Charges brochure

Illawarra Credit Union Fees Charges and Transactions Limits

Download the brochure below to find out more about our fees, charges and transaction limits.

Fees, Charges and Transaction Limits brochure

Illawarra Credit Union is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees, Charges and Transaction Limits brochure for current details.

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