Improve your lifestyle by unlocking your home’s equity
Equity is the difference between the value of your property and the amount you still owe on your home loan.
If you’ve paid down some or all of your loan, and/or your home has increased in value, you may be able to use your equity for a worthwhile purpose.
- Suitable for borrowing over $100,000
- Max. loan amount up to 75% of the property value
- Withdrawals available up to the facility limit
- Account service fee exempt for eligible members 1
- Visa Debit card to access your account 2
- Available to individuals, companies and trusts
- 24/7 online access
- ATM/eftpos
- Online banking and mobile app, phone banking and cheque facility
8.98% p.a.
Rate effective from 13/11/2023
| Transaction Type | Fee |
|---|---|
| Visa Debit (where credit option is selected on purchases) | $0 |
| eftpos transactions (including declined) | $0.70 |
| payWave | $0 |
| Digital Wallet (Apple Pay and Google Pay) | $0 |
| Capricornian ATM withdrawals, balances and declined | $0 |
| Visa Debit cash advance 3 | $0.70 |
| Direct credits | $0 |
| Direct debits | $0 |
| Cash deposits | $0 |
| Cheque deposits | $0 |
| Cash withdrawals | $0 |
| Cheque withdrawals/encashment | $0 |
| Internal funds transfer | $0 |
| External funds transfer (in branch) | $0 |
| BPAY (in branch or contact centre) | $0 |
| Account Service Fee 1 | Exempt for eligible members |
| Transaction Type | Fee |
|---|---|
| Visa Debit (where credit option is selected on purchases) | $0 |
| eftpos transactions (including declined) | $0.70 |
| payWave | $0 |
| Digital Wallet (Apple Pay and Google Pay) | $0 |
| Capricornian ATM withdrawals, balances and declined | $0 |
| Visa Debit cash advance 3 | $0.70 |
| Direct credits | $0 |
| Direct debits | $0 |
| Cash deposits | $0 |
| Cheque deposits | $0.30 |
| Cash withdrawals | $0 |
| Cheque withdrawals/encashment | $0 |
| Internal funds transfer | $0 |
| External funds transfer (in branch) | $3.00 |
| BPAY (in branch or contact centre) | $3.00 |
| Account Service Fee 1 | Exempt for eligible members |
Other fees and charges may apply. For more detailed information please see Conditions of Use.
Credit eligibility criteria, terms and conditions, fees and charges apply. The Capricornian Ltd. ABN 54 087 650 940. AFSL/Australian Credit Licence 246780.
Please note this information does not take into account your personal circumstances and is general advice only. Before opening any Capricornian account, please read the Conditions of Use and decide if the account is right for you. Interest rates are subject to change without notice and should be verified with your local Capricornian Branch.
1 Account Service Fee Exemptions on Access Accounts where first account is exempt for eligible members on both Personal Access and Business Access Accounts. $6.00 per month subsequent accounts on Personal Access, $10 per month subsequent on Business Access Accounts. Eligibility criteria applicable on Personal Access Account; Minimum Deposit/Lending balance of $20,000 held within the membership, Members aged 25 years and younger and Members aged 65 years and older. Eligibility criteria applicable on Business Access Accounts; Minimum Deposit/Lending balance of $20,000 held within the membership.
2 Quarterly card fee applies with Capricornian Visa Debit Card. Exemptions apply to Pension Access Accounts or Capricornian Members aged 25 years and younger. Replacement card fee may apply.
3 Where credit option is selected for cash, or cash and purchase transactions.
Personal Access Account transaction fees apply to Credit Line, Mortgage Line of Credit and Mortgage Plus Home Loan products.
Consider the relevant Target Market Determination (TMD).
To be eligible you will need to be:
- At least 18 years old
- An Australian citizen or permanent resident
Work out what repayments you may be able to afford by using a borrowing calculator. We use a range of criteria to decide how much you are eligible to borrow, but you also need to be comfortable that you can afford to pay the loan. We aim to help you achieve your goals without living above your means.
There are several factors that go into determining which home loan and interest rate is best for you. A variable interest rate will change along with the market. A fixed rate will lock in your repayments for a set period of time. There are benefits to both of these options, and we recommend that you obtain financial advice when contemplating this decision. See this link to our blog for more information.
1. LVR: Loan to Value Ratio
LVR is the percentage of the property’s value, as assessed by the lender, that your loan equates to. For example, if the property you want to purchase is valued at $500,000, and you need to borrow $400,000 to pay for it, the loan is worth 80% of the property value, making your LVR 80%.
2. LMI: Lenders Mortgage Insurance
LMI is insurance that protects the bank or lender in case you can’t pay your residential mortgage. It’s usually paid by borrowers with an LVR higher than 80% – that is, borrowers with a deposit of less than 20%.
You can apply online, request an appointment or call us on: 1300 314 900
