hmcdirect Loan Products

With the cost of providing transactions proving to be a huge problem for your Credit Union, hmcstaff is now offering an attractive range of products to members who choose to transact through another financial institution. 

A hmcdirect account, means surrendering your Credit Union’s VISA card, Redicard and cheque book for a better rate of interest.

For many the trade off is worthwhile as it is convenient to link hmcdirect with your local financial institution.

L6

Basic Mortgage                                                               

  • The lowest rate amongst the hmcstaff loan products designed to save you money.
  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.
  • Qualifies for Mini Mortgage.

Use this account to save the most on interest if you are prepared to move your transactions to another financial institution. More information

7.30
% pa

S79

Equity Line of Credit                                                    

  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.
  • Monthly fee of $15.00 applies to this facility.
  • Qualifies for Mini Mortgage.

Use this loan to complement your High Rate Savers Account and access to a Line of Credit when your savings run out. More information

6.55
% pa

L27

Options Mortgage                                                      

  • Register for redraw of advance payments.
  • Qualifies for 100% Savings Interest Offset.
  • Qualifies for Mini Mortgage.
  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.

Use this loan to obtain options mortgage flexibility at a really good rate of interest. More information

7.80
% pa

L8

Mini Mortgage   [* Note: product not on offer]                                                         

  • One other mortgage product required to qualify for this product.
  • Rate tied to hmcdirect Options Mortgage rate.
  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.

Use this loan to obtain consumer finance (i.e. for a car) at mortgage rates but over a term that reflects the life of the item purchased. More information

0.00
% pa

SPLIT

 Mortgage Options                                                      
Members with a mortgage can split their options over the accounts L6, S79, L27 and/or L8. You will only pay one establishment fee ($300), subject to special waiver provisions, and you can change the split at any time in the future for a fee of $100.

S71

Revolver (Line of Credit)                                          

  • The lowest unsecured rate available at hmcstaff.
  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.
  • Monthly fee of $15.00 applies to this facility.

Use this line of credit to complement your High Rate Savers Account and access to funds when your savings run out. More information

 8.65
% pa

L5

New Car                                                                      

  • Available at this rate only for the purchase of a new car.
  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.

Use this loan for the purchase of a new car at an attractive rate of interest. More information

 9.15
% pa

L4

Personal Secured                                                    

  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.
  • Loan must be secured with a motor vehicle less than 5 years old and providing 80% Loan to Valuation Ratio (LVR).

Use this loan for the purchase of a used car at an attractive rate of interest. More information

 12.30
% pa

L2

Personal Unsecured                                              

  • .25% pa. below the standard product that allows transaction activity.
  • Interest calculated on the daily balance and charged monthly to the your account.

Use this account to borrow for any worthwhile purpose. More information

 14.05
% pa