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Homeowner’s Code
McDonald’s MonopolyGreat Southern Bank, formerly known as Credit Union Australia, has a rich history dating back almost 80 years when it emerged to challenge the traditional banking sector in Australia. Over the years, the bank has grown to become one of the largest customer-owned banks in the country, serving over 400,000 Australians. With a strong presence on the east coast and in Perth, Great Southern Bank is committed to empowering customers on their financial journeys, particularly in achieving home ownership.
Offering a range of home loan products, Great Southern Bank caters to owner-occupiers, first home buyers, and investors with both fixed and variable rate options. The bank prides itself on providing award-winning home loans that include features such as unlimited extra repayments, free redraw facilities, and government-backed schemes to assist Australians in realizing their home ownership dreams.
For instance, the Basic Variable home loan from Great Southern Bank comes with no monthly fees and allows unlimited extra repayments along with a free redraw facility. The bank also offers a Variable Offset home loan with a 100% multi-account offset, split loan options, and the flexibility to make extra repayments during the fixed term period. Industry research indicates that customers who choose Great Southern Bank for their home loans save an average of over $2,100 compared to the Big Four banks.
One standout feature of Great Southern Bank’s home loans is ‘The Boost’ option, which enables customers to automatically pay down their home loan every time they use their debit card. This innovative feature underscores the bank’s commitment to helping customers pay off their loans sooner and save smarter.
When it comes to customer satisfaction, Great Southern Bank stands out with Net Promoter Scores that consistently surpass those of the Big Four banks. The bank’s products have received industry recognition, including awards for innovation and customer satisfaction, further cementing its reputation as a top player in the market.
If you are considering applying for a home loan with Great Southern Bank, you must meet certain criteria, including being at least 18 years old, a permanent resident of Australia, and purchasing a property or refinancing from another bank. The application process involves providing documentation such as proof of identity, income, savings, and assets, among others, to initiate the loan application.
Overall, Great Southern Bank’s customer-owned model, competitive interest rates, borrower-friendly features, and commitment to customer empowerment make it a compelling choice for individuals looking to secure a home loan. With a focus on innovation and customer service, Great Southern Bank continues to be a trusted partner for Australians navigating the complexities of home ownership.
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