Nova Alliance Bank Home Loans

Nova Alliance Bank home loans

Nova Alliance Bank is a provider of home loans, personal loans, car loans, credit cards, savings accounts and term deposits.

What home loans does Nova Alliance Bank offer?

At the time of writing, Nova Alliance Bank offers home loans, land and/or building loans, refinance loans and line of credit loans.

Nova offers variable interest rate and interest only home loans. If you choose to take out a home loan, Nova says it can also arrange your building and contents or landlords insurance and loan protection insurance.

Nova says its line of credit loans are available for eligible members as a pre-approved revolving credit facility. Nova says interest is only charged when you use your line of credit and up to 80% of property valuation is available.

Canstar does not currently compare Nova Alliance Bank home loans, but you can compare other home loan providers on Canstar’s database:

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Nova Alliance Bank Home Loan Features

Nova says its home loans offer the following features:

  • Borrow up to 95% of property valuation
  • Terms up to 30 years
  • Redraw facility (minimum $500)
  • Unlimited additional payments
  • Payments can be made weekly, fortnightly or monthly

The inclusions above represent a selection of Nova Alliance Bank home loan features. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Check upfront with Nova Alliance Bank and please ensure that you read the PDS or other loan documentation to determine all the current loan terms and conditions for the product you are considering and whether it meets your needs, before committing to it.

Nova Alliance Bank home loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers before choosing a product that suits your needs (please note that Canstar does not currently compare Nova home loan products).

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If you do decide to apply for a Nova home loan, you can do this through its website. If you need help applying, you can contact Nova over the phone, via email or in person at their Newcastle address.  

Nova allows unlimited additional repayments on its home loan products. Terms and conditions may apply so contact Nova for details.

To give you an idea of how much money you could save over the life of your loan by making extra repayments, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

Nova offers a redraw facility (minimum $500) on its home loan products. Terms and conditions may apply. Contact Nova for details.

If you’re in the market for a home loan, you can compare your options with Canstar.

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Nova Alliance Bank was established in 1964 as the Hunter Water Board Employees Credit Union. Now, through a partnership with Bendigo and Adelaide Bank, it is part of the Alliance Bank Group which says it is Australia’s first 100% member-owned alliance of social enterprise banks. According to the group it collectively has over 40,000 members.

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Written by: Tamika Seeto | Last updated: April 9, 2019