On 4 March 2020, the RBA reduced the cash rate by 0.25 and this was duly passed on. But they refused to pass on to variable rate customers the reduction done by RBA of 0.25 on 20/03/20 and 0.15 on 4/11/20. This is a total of 0.4 not passed on to variable interest rate customers. Instead they are offering us to fix our loans like it is a better option in the current situation. We all live in the same world that has financial issues for the moment. Be fair in your dealings and kindly pass on the savings to your variable interest rate customers. That is the whole idea of a variable rate to move with the trend of the RBA.

Do not go within a bulls roar of this company.
This company is a wholly owned subsidiary off resimac who are just as bad or worse

My ex and I borrowed $321889 from state custodians in approx 2013. In January 2019 my ex and I separated. I am the primary borrower on the account. We had never missed a payment or made a late payment. indeed at separation there was $60,000 plus in the offset account. Due to legal costs this was run down quite quickly. My wife was able to transfer $20,000 into the offset account, repayment of a loan until we could s...

Hi ..I have a question for you guys . My rate droppped to 2.80 last month and when I calculate my monthly repayment on different apps, I get 2424 figure wheras State Custodians is charging me 2440. Does anyone know why ?
Ebi

All banks have policies for their due diligence, but State Custodians are beyond reproach; it is so excessive in comparison to other lenders. I keep wondering what the costs of these procedures must be.
It could be argued that a more thorough checking procedure is prudent, but asking for random and negligible documentation ad nauseum is a strange way to gain customers.
My documents are all signed but the requests keep coming. I feel that I have gained a master.

After applying online, then being lead through the application process, I was made to wait over 4 weeks without any advice on the progress of my application? After eventually calling numerous times and emailing, I received a return email from my so called "loan application manager" advising me that she just noticed there were two key elements missing from my application, and could I send them through and she will forward my application for appraisal! Ofcourse I immediately responded with my feedback, also letting her know that I won't be persui...

Please think twice if you want to sign up your loan with SC.
I realised there were reoccurring unauthorised transactions from my offset account. They admitted that it was their mistake but nothing was done. I have been waiting for them to refund my money for over 2 months, despite lots of follow up emails and phone calls. Complete waste of time.

Terrible customer service, I had to chase them up to process my loan even though they got all needed documents they requested. Called more than 4 times to find out what's happening, everytime I get promised to receive a call back but I never did. I ended up emailing them to cancel my application and I will be going with another lender, yet didn't even reply this email which was a week ago.

I was given a minefield of hoops to go through, delays and excessive red tape to get through which ultimately discourages any success in reducing my interest rate. Very dissatisfied with service on all levels.

Helpful staff. Easy and straightforward process. Right rate. No complaints here.happy to recommend Justin. Whole process took only few weeks from start to finish with everything explained well and in a timely fashion. Cheers

State Custodians offered competitive rates and the application process was pretty simple and they didn't demand intrusive levels of paperwork (some lending institutions want details of all your bank accounts).
Staff, especially Leo, were very helpful and patient at addressing my many queries as it was my first mortgage.

The customer service provided were second to none, i was impressed by the whole experience. There were no extra or hidden costs, very satisfied with the loan and it is now the second property i have refinanced with them.

We found State Custodians to have a very competitive rate and good products that met our need to release some equity in our property for future investments. I'm not sure if it is a reflection of their risk appetite, but they require a lot of documentation (around 20 documents in our case). But Justin our service representative was very responsive to helping use through the process and ensuring we clearly understood the product. We had also read through these reviews previously and understood that the process could take a long time (which for us it did). However in our case that wasn't an issue. I'm sure in other instances they could speed up the process as long as you have all your documentation in order.

Great rate for investment offset account with additional features like debit card at no extra cost. Very easy process if you have your documents and expenses lined up. Even so, customer service is patient and can help guide you through what is specifically required anyway (thanks Leo). One issue which is probably not SC's fault, the valuer turned up to the property without my prior notice (no call or email, my agent had not received anything also). Tenants had just moved in and were surprised (had to reassure them all was well). Apart from this...

SC asked my internet banking log in details and recording unfair loan consent over the phone. Refused their unusual loan process so withdrew the loan application half way through and found out from next lender who advised me SC loan declined instead. Stay away from this lender or will leave you bad credit history.

Customer service and settlements helped answer all my questions and ensured that all the paper work was completed accurately and in a timely manner. The loan should be finalised in the coming days and I look forward to having little to no account and transaction fees as well as a very competitive interest rate (3.15% pa effective from the 24th of July so I have been told). Haven't used their online banking as yet. As long as the site is user friendly and does the job who cares about all the bells and whistles when the account fees are practically non-existent and the interest rate is so low.

It is with great disappointment that after 7 years loyalty with State custodians, the interest rates being charged on my two loans with them are no longer competitive. One loan has a split component with the P&I portion being 0.17% higher than that for new users, whilst the IO portion being 0.31% higher than for new customers. My rates are also meant to include a 0.2% customer loyalty reduction. Obviously without this reduction they would be exploiting me even more for being an existing customer. My second investment IO loan is 0.8% higher than...

State Custodians is one of those things that looked good from the outside, but not really when you looked deeper inside. I checked them out, submitted my application and followed it up after almost 1 month of no news and kept getting told "we would contact you back". When I told them "you have missed me many times", I was met with a reply "oh everyone is busy here". It's been 2 months, guess what? Surprise! Still no news!

Stay away. You've been warned.

Very disappointed, RBA cut the rate over a week ago and it is still not passed to customers.
This is despite that most lenders have passed the cut in full.
Look at which ones did it before getting a loan with State Custodians.

The advertised rates are great, but over time the rate you actually get drifts upwards while the advertised rate stays low. Nowhere did they mention the low rates offered were merely 'honeymoon' rates.

Two days after the latest RBA rate cut the State Custodians website still only has a vague "we are reviewing, we will let you know of any changes" message. I am not expecting to see much of a rate cut, if any. But I'll bet the advertised rate goes down!

State custodians provided excellent customer service and a very smooth lending process. Their rate is one of the best you can get, but now I've been with them for some time, I have to say I'm extremely disappointed with the RESIMAC-based loan enquiry system.

I have setup an offset account and had the idea that I'd be able to use it like a regular bank account.

I was wrong. The thing is a dinosaur.

Here's a list of everything that's wrong with it:

This is the worst and biggest problem:
YOU CAN'T SETUP AUTOMATIC PAYMENTS TO BANK ACCOUNTS OR CREDIT CARDS...