Laboratories Credit Union Limited

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Home Renovation Loan

If you are a property owner or have your current home loan with LCU and you are looking to renovate your home, the LCU Home Renovation Loan might be just what you're looking for.

8.85% pa
interest rate

8.90% pa comparison rate1

  • Great for making those big purchases for your home
  • No redraw fees
  • No ongoing fees
  • Early repayment options without penalty
  • Variable and lump sum repayments

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  How do I apply?
  What documents do I need?

Evidence of Income:

  • Copy of 2 current pay slips or a letter from your employer stating commencement date and salary details
  • Proof and source of other income
  • If self-employed please provide full financial statements and tax assessments for the last 2 years and current figures no more than 3 months old
  • A copy of a recent rental lease or bank statements showing receipt of rent.
  • If your pay is not currently deposited to a LCU account, please supply 3 months statements showing payroll income

Evidence of Commitments:

  • Statement of your home and/or other loans
  • A copy of a recent rental lease or if boarding, a letter from the owner
  • Statement of all credit cards and store cards
  Additional information

Rates are subject to change. Please refer to our rates and fees page.
1Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years for an unsecured loan. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.


Home Renovation Loan
Interest Rates
Variable Interest Rate8.85% pa
Comparison Rate8.90% pa1
Features
Automatic Deposits (salary / account)Yes
Minimum Amount$2,000 
Maximum Amount$50,000 
Loan periodup to 10 years
RepaymentsWeekly, fortnightly or monthly
Early repayments without penaltyYes
Fees
Annual Fee$0 
Monthly Fee$0 
Redraw Fee$0 


 

1 Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years for an unsecured loan. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.