Skip to main content
Skip to main content

Terms and conditions

Important information

When it comes to banking, fine print comes with the territory. We’ve aimed to make our terms and conditions as clear and straightforward as possible, so you can make an informed decision. As always, if you have any questions, we’re here to help.

Transaction, Savings and Investment Accounts

Home Loans

Credit Cards

Personal Loans

SMSF Accounts

General Terms and Conditions (relevant to ALL products)

Self Service Access Facilities

ePayments Code (the Code)

The ePayments Code (formally known as the Electronic Funds Transfer Code of Conduct) regulates electronic payments, including ATM, EFTPOS and credit card transactions, online payments, internet and mobile banking, and BPAY®. The Code is a voluntary code of practice, of which Australian Unity is a subscriber.

Please refer to the Accounts and Access Facilities Terms of Use for further information regarding electronic payments, or alternatively refer to the Code itself (above).

What is a Comparison Rate?

A Comparison Rate is an all in one interest rate designed to help people identify the 'true' cost of the loan and is calculated by taking into consideration: the annual interest rate, any discount or honeymoon rate, any discount or upfront fees, and any known ongoing (monthly) fees. 

It is a requirement by law that all financial institutions advertise comparison rates when promoting their lending products, to allow people to make a more objective comparison with the lending products offered by other financial institutions. An example of the comparison rate methodology for a Australian Unity home loan follows. 

Comparison Rate: 

Loan amount 
Loan term 
Annual interest rate 
1 year honeymoon rate               
Loan application fee 
Monthly fee 
3rd party legal costs 
Comparison rate 

$150,000 
25 years 
7.49% p.a. 
6.49% p.a. 
$0 
$0 
$600 
7.52% p.a 

The comparison rate is based on fortnightly repayment calculations. It does not include government fees as they are standard regardless of the lender. Whilst a comparison rate may assist you in making more objective comparisons when evaluating competing loan products, it is important to recognise this limitation of comparison rates. Many complimentary loan features that Australian Unity offer including the ability to make additional and lump sum repayments without penalty, 100% mortgage offset facility, and free redraw of advance repayments are not taken into account in the comparison rate calculation. For this reason, when comparing lending products it is important to consider additional features which differentiate loan products as well as comparison rates. Comparison rates are calculated for all loans with a fixed term, including home,  investment, car and personal loans. Overdrafts and credit cards are classified as continuous lines of credit and therefore a comparison rate cannot be calculated.

Chat with us

Whether it’s understanding terminology, you’re looking to apply or you have a question about your account we can help you with all your banking questions.

Speak with us today

Monday to Friday - 8.30am to 5.30pm AEST

Call 1300 790 740

Have us call you within 1 business day

Request a call back