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.

Fixed Loans

The Works Package
Fixed
principal & interest interest only
interest rate comparison rate interest rate comparison rate
1 year 2.99% p.a.2 3.28% p.a.1 3.79% p.a.2 3.35% p.a.1
2 years 3.49% p.a.2 3.38% p.a.1 N/A N/A
3 years 4.04% p.a.2 3.58% p.a.1 N/A N/A
Bare
Essentials Fixed
principal & interest interest only
interest rate comparison rate interest rate comparison rate
1 year 3.09% p.a.2 2.95% p.a.1 3.89% p.a.2 3.02% p.a.1
2 years 3.59% p.a.2 3.06% p.a.1 N/A N/A
3 years 4.14% p.a.2 3.26% p.a.1 N/A N/A
Standard Fixed Home Loan
principal & interest interest only
interest rate comparison rate interest rate comparison rate
1 year 3.19% p.a.2 3.92 % p.a.1 3.99% p.a.2 3.99% p.a.1
2 year 3.69% p.a.2 3.94% p.a.1 4.10% p.a.2 4.02% p.a.1
3 year 4.24% p.a.2 4.07% p.a.1 4.15% p.a.2 4.05% p.a.1
Standard Salary Package Fixed Home Loan
principal & interest interest only
interest rate comparison rate interest rate comparison rate
2 year (P&I) 3.59% p.a.2 3.11% p.a.1 N/A N/A
3 year (P&I) 4.14% p.a.2 3.31% p.a.1 N/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.
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.

Variable Loans

The Works Package
principal & interest interest only
interest rate comparison rate interest rate comparison rate
The works package 2.75% p.a. 3.26% p.a.1 2.75% p.a. 3.26% p.a.1
bare essentials
principal & interest interest only
interest rate comparison rate interest rate comparison rate
Bare Essentials 2.84% p.a. 2.93% p.a.1 4.10% p.a. 4.19% p.a.1
Bare Essentials

>$150K – <$800K

principal & interest interest only
interest rate comparison rate interest rate comparison rate
First home loan offer 2.70% p.a. 2.79% p.a.1 N/A N/A
Standard Home Loan
principal & interest interest only
interest rate comparison rate interest rate comparison rate
Standard Home Loan 3.89% p.a. 3.98% p.a1 4.25% p.a. 4.34% p.a.1
the standard salary packaging owner occupied variable
principal & interest interest only
interest rate comparison rate interest rate comparison rate
Variable (P&I) 2.90% p.a. 2.99% p.a.1 N/A N/A
reference rates
principal & interest interest only
interest rate comparison rate interest rate comparison rate
The Works Package 3.84% p.a. 4.32% p.a.1 4.30% p.a. 4.77% p.a.1
Standard variable 4.79% p.a. 4.88% p.a.1 4.90% p.a1 4.95% p.a1
2 year Introductory 4.60% p.a. 5.02% p.a.1 N/A N/A
Bare essentials 4.49% p.a. 4.58% p.a.1 4.75% p.a1 4.84% p.a1
The Works 3.84% p.a. 4.32% p.a.1 N/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.

Fixed Loans

The works package invest fixed
principal & interest interest only
rate comparison rate rate comparison rate
1 year 3.19% p.a.2 4.00% p.a.1 3.59% p.a.2 4.04% p.a.1
2 year 3.89% p.a.2 4.10% p.a.1 4.09% p.a.2 4.13% p.a.1
3 year 4.39% p.a.2 4.26% p.a.1 4.59% p.a.2 4.31% p.a.1
Bare Essentials invest fixed
principal & interest interest only
rate comparison rate rate comparison rate
1 year 3.29% p.a.2 3.52% p.a.1 3.69% p.a.2 3.55% p.a.1
2 year 3.89% p.a.2 3.61% p.a.1 4.19% p.a.2 3.66% p.a.1
3 year 4.49% p.a.2 3.80% p.a.1 4.69% p.a.2 3.85% p.a.1
Standard Fixed Investment
principal & interest interest only
rate comparison rate rate comparison rate
1 year 3.75% p.a.2 4.57% p.a.1 3.99% p.a.2 4.59%
p.a.1
2 year 4.09% p.a.2 4.56% p.a.1 4.29% p.a.2 4.59% p.a.1
3 year 4.59% p.a.2 4.65% p.a.1 4.79% p.a.2 4.71% 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.

Variable Loans

The Works Package Investment
principal & interest interest only
rate comparison rate* rate comparison rate*
Variable 3.55% p.a. 4.04% p.a.1 3.55% p.a. 4.04% p.a.1
The Works Package Investment Reference Rate 4.60% p.a. N/A 4.85% p.a. N/A
Bare Essentials Investment
principal & interest interest only
rate comparison rate* rate comparison rate*
Bare Essentials Investment 3.44% p.a. 3.53% p.a.1 3.64% p.a. 3.73% p.a.1
Bare Essentials Investment Reference rate 4.89% p.a. 4.98% p.a.1 5.15% p.a. 5.24% p.a.1
Standard Variable Investment Home Loan
principal & interest interest only
rate comparison rate rate comparison rate
Standard Investment home loan 4.55% p.a. 4.64% p.a.1 4.65% p.a. 4.74% p.a.1
standard variable investment home loan reference rate
principal & interest interest only
rate comparison rate rate comparison rate
Standard variable investment reference rate 5.30% p.a. N/A 5.40% 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
Christmas promise
Balance Interest Rate
$0 – $29,999 0.65% p.a.
$30,000 + 0.00% p.a.
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
term Interest Annually ($1,000+) Interest Monthly ($1,000+)
1 month 0.10% p.a. N/A
2 month 0.40% p.a. N/A
3 month 0.25% p.a. N/A
4 month 0.25% p.a. N/A
5 month 0.50% p.a. N/A
6 month 0.25% p.a. N/A
7 month 0.60% p.a. N/A
8 month 0.25% p.a. N/A
9 month 0.25% p.a. N/A
10 month 0.25% p.a. N/A
11 month 0.25% p.a. N/A
12 month 0.75% p.a. 0.70% p.a.
For longer term periods, please contact us directly on 13 22 49.
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.
7For 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
term Interest Annually ($5,000+) Interest Monthly ($5,000+)
1 month 0.05% p.a. N/A
2 month 0.30% p.a. N/A
3 month 0.20% p.a. N/A
4 month 0.20% p.a. N/A
5 month 0.40% p.a. N/A
6 month 0.20% p.a. N/A
7 month 0.50% p.a. N/A
8 month 0.20% p.a. N/A
9 month 0.20% p.a. N/A
10 month 0.20% p.a. N/A
11 month 0.20% p.a. N/A
12 month 0.60% p.a. 0.30% p.a.
For longer term periods, please contact us directly on 13 22 49.
Grandfathered Savings Accounts (No longer available after 1 December 2015)
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. 3.26% p.a.
Variable Interest Only (1 year) 2.75% p.a. 3.26% 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.
Grandfathered Fees & Transactions
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 and Transaction Limits

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

Fees and Charges

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 and Charges for current details.

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