Our Essential Services Home Loan Offer recognises the important work you do, whether it’s protecting, educating, or rehabilitating the community.
Take the edge off refinancing or purchasing a new property and receive $1,500 rebate (Rebate Payment) when you choose a qualifying BCU Bank home loan. It’s as simple as that! Members must meet the following criteria and terms and conditions to be eligible for the Rebate Payment for loan applications submitted from 1 November 2023.
- Currently employed within the ‘Essential Services Group for BCU Bank’ as listed below:
- Police staff, including auxiliary officer and any NSW & QLD Police Force Employee.
- Nurses, including clinical, registered, and travel.
- Teachers, including primary, secondary, specialist (e.g., language), TAFE and University lecturers.
- Firefighters - NSW Fire and Rescue and QLD Fire and Emergency Services only.
- Correctional Service Officers including auxiliary correctional service employees.
- Borrower(s) must be 18 years and over.
- Home loan applications must be for a new purchase or refinancing from another financial institution. i.e., refinances of existing BCU Bank and P&N Bank loans are excluded.
- The home loan must be either an owner-occupied or investor home loan and be for an established home.
- The Rebate Payment is not available for any other product, including but not limited to equity lines of credit, bridging loans or loans for construction purposes.
- The amount of the home loan must be at least $250,000 and can include a combination of variable and fixed rate home loans where the combined balance is at least $250,000.
- The Loan to Valuation Ratio (LVR) of the home loan must be 80% or less.
- Home loans can be originated from either proprietary or broker channels.
- For joint applicants, only one Rebate Payment will be paid.
- The Rebate Payment cannot be used in conjunction with any other home loan cashback offer currently being made by BCU Bank.
- The Rebate Payment will not be considered in assessing home loan serviceability.
- The Rebate Payment of the Home Loan and will be paid into your BCU Bank transaction account (held either solely or jointly with a co-borrower) by the end of the following month post the drawdown of the loan(s). For example, if the loan is drawn down in February, the Rebate Payment will be credited to your account by 31 March. If you do not have a BCU transaction account, you will be required to open one to receive the Rebate Payment.
- Tax consequences may arise from the Rebate Payment, and Members may need to seek independent advice on any taxation matters.
- comply with any change or anticipated change to any relevant law, code of practice, regulatory guidance or general banking practice;
- reflect a decision of a court, ombudsman or regulator;
- reflect a change in our systems or procedures, including for security reasons; or
- respond to changes in the cost of providing home loans.
- The terms of the Rebate Payment can be amended and/or withdrawn by BCU Bank without notice. However, we will only do so where reasonably necessary to protect our legitimate business interests. Any amendment or withdrawal will not affect prior received loan applications, unless necessary to:
- Full home loan terms and conditions are available at any BCU Bank branch, on our website or can be requested by calling 1300 228 228.
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