Discounted rates from
Why choose our Basic Variable Home Loan?
Discounted online rate
Apply online and lock in a discount on eligible home loans (up to 80% LVR).†
No ongoing fees
No ongoing monthly loan maintenance fees.
Borrow up to 95%
Buy your home sooner with as little as a 5% deposit.^
Flexible options
Make extra payments to your home loan, penalty-free, and redraw if you’re ahead.
Take it back to basics
- Variable interest rate, with a further discounted rate available on eligible home loans when you apply online.†
- Choose to repay weekly, fortnightly, or monthly.
- Make extra payments without penalty to pay off your home loan faster.
- Redraw online if you’re ahead on your repayments.
Rates & fees
Competitive interest rates and low fees are just the beginning with our Basic Variable Home Loan.
The basics
| Loan purpose | Owner occupier |
| Minimum loan amount | $20,000 |
| Maximum loan term | 30 years |
Interest rates
| Loan to Value Ratio (LVR) | Variable rate |
Comparison rate*
|
|---|---|---|
| Less than 60% | 6.13% p.a. | 6.16% p.a. |
| Less than 70% | 6.17% p.a. | 6.20% p.a. |
| Less than 80% | 6.19% p.a. | 6.22% p.a. |
| Less than 90% | 6.49% p.a. | 6.52% p.a. |
| Less than 95% | 6.79% p.a. | 6.82% p.a. |
A further 0.20% p.a. discount will be applied for eligible Basic Variable Home Loans when you apply online.† Maximum LVR of up to 80% and for new home loans or top-ups of at least $100,000.
| Fee type | |
|---|---|
| Monthly maintenance fee | $0 |
| Document preparation fee | $300.00 |
| Switch fee (from other P&N Bank loan) | $300.00 |
Other fees & charges, including government fees, may apply. You can find these on our home loan fees and charges page.
What will your repayments be?
Use our handy calculator to work out what your repayments might be. Or see the difference it makes to your loan term if you make payments weekly, fortnightly, or monthly.
Ready to apply for your home loan?
Every home loan is different. That’s why our Home Loan Specialists are here to help you understand your options, find a loan that’s right for you, and guide you through the application process.
You can apply:
- Online – apply online and, if approved and settled, receive a 0.20% p.a. discount on our standard variable rate for eligible Basic Variable Home Loans.†
- At your local branch – make an appointment at your nearest branch – don’t forget to bring your ID and supporting documents with you.
- Over the phone – call us on 13 25 77 and one of our friendly Home Loan Specialists will help you with your application.
- At home or at work – our mobile lending team can come to you, or you can book a call with one of our virtual lenders.
To help make the application process smoother, have the following information ready:
- Identification documents
-
primary photo ID (such as a passport or driver’s licence), or
-
primary ID without a photo (such as a birth certificate or citizenship certificate) and secondary ID (such as a utility bill showing your name and address)
Find out what other identification documents we accept.
-
- Employment details – contact details for your current employer and previous employer if you’ve changed jobs within the last two years.
- Income details – recent payslips or, if you’re self-employed, tax assessments and financial statements for the past two years.
- Regular expenses – such as food, rent, utilities, insurance, and medical costs.
- Assets – details of any assets you own, including vehicles, savings, home contents, properties, or investments.
- Liabilities – details of any loans, credit cards, buy now pay later services, or other debts.
Got everything? Request an appointment with a home loan specialist today, or start your application online and receive a 0.20% p.a. discount on our standard variable rate for eligible Basic Variable Home Loans.†
Every home loan is different. That’s why our Home Loan Specialists are here to help you understand your options, find a loan that’s right for you, and guide you through the application process.
You can apply:
- Online – apply online and, if approved and settled, receive a 0.20% p.a. discount on our standard variable rate for eligible Basic Variable Home Loans.†
- At your local branch – make an appointment at your nearest branch – don’t forget to bring your ID and supporting documents with you.
- Over the phone – call us on 13 25 77 and one of our friendly Home Loan Specialists will help you with your application.
- At home or at work – our mobile lending team can come to you, or you can book a call with one of our virtual lenders.
Your home loan questions answered
If you’re looking to buy your very first home, with P&N Bank you can borrow up to a loan to value ratio (LVR) of 95%.
As a general guide you'll need a minimum 5% deposit plus your settlement fees and Lenders Mortgage Insurance (LMI) fees. LMI fees will apply if you don’t have a 20% deposit plus settlement fees.
You may qualify to take out (LMI) for deposits less than 20% of the property value.
LVR stands for Loan to Value Ratio. This is calculated as the amount you want to borrow as a percentage of the value of the property you buy, or that will be used as security.
For example, if you borrow $540,000 to buy a property valued at $600,000, your LVR would be 90%.
Depending on your application, we can provide loan approval in as little as 24-48 hours, and are doing so for many of our customers. For more complex applications, unconditional finance approval or where a valuation of your property is required, it can take between five and seven days to process all the documentation.
Apply online and save
Ready to apply?
Talk to our friendly team
Important information
Banking and Credit products issued by Police & Nurses Limited (P&N Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Eligibility criteria, terms & conditions, fees & charges apply.
Please consider the terms and conditions and whether a product is right for you.
- View the home loans terms & conditions
- View the online home loan terms & conditions
- View the home loan fees and charges
- View credit guide
- Create a Home Loan Key Fact Sheet
- View LMI Information Fact Sheet
- View Target Market Determinations (TMDs)
*Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
^If you are borrowing more than 80% of the property’s value (Loan to Value Ratio), Lenders Mortgage Insurance (LMI) may be required. Borrowing up to 95% includes LMI costs.
†This discount is available for eligible applications received from 01/07/2026 and may be amended, withdrawn, or extended at any time without notice. Applications received prior to any amendment or withdrawal will still be eligible for the discount in accordance with the terms in effect at the time of submission.
Not available for broker originated applications or applications through our branches, mobile lenders, or contact centre.
Offer available on eligible owner-occupied Basic Variable Home Loans with new borrowings or top-ups of at least $100,000 and an LVR of 80% or less. Discount is not available on loans for construction purposes or any other product, including Basic Variable Home Loans with an LVR above 80%.
Discount cannot be used in conjunction with any other home loan offer.