Mortgage Loans Significant Terms and Conditions - The Mortgage Offset account is available on all Premium Home Loans, Refinance Home Loans and the goGreen Home Loan. Fixed Home Loan fixed rates are indicative only. The actual rate will be set at the time of funding. Fixed rate will revert to the Basic Home Loan rate at the conclusion of the fixed period unless bankmecu is advised to re-fix. To qualify for the Premium $250k+ Loan products the loan amount borrowed must be a minimum of $250,000. To qualify for the Premium $500k+ Loan products the loan amount borrowed must be a minimum of $500,000. To qualify for the Premium $750k+ Loan products the loan amount borrowed must be a minimum of $750,000.To qualify for the goGreen Home Loan the home financed must have an energy rating of 7 stars or more under the Nationwide House Energy Rating scheme. Variable interest rates apply to mortgage loan products other than fixed rate loans. Base Loan Establishment Fee $595. Maximum loan term is 30 years, except Bridging Loans (maximum loan term of 1 year), and Interest Only Loans (maximum loan term of 5 years).
Full terms, conditions, fees and charges are available on request and on application.
*The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable. 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.
Loan Packages Significant Terms and Conditions- The Mortgage Offset account is available on all package loans. To qualify for the First Home Buyers Package loan the loan applicant/s must qualify for the First Home Owners Grant. To qualify for the Renovators Package loan the loan must be for the renovation of a residential dwelling and the amount borrowed must be a minimum of $100,000 (excludes existing loan amounts that may be held). To qualify for the Construction Package loan the purpose must be for the construction of a residential property. Annual package fee of $350 is payable in advance and is non-refundable. The fee is debited to the loan balance on funding and then annually on the anniversary date of funding. Package benefits cease to apply once the loan is repaid in full. Maximum loan term is 30 years.
Full terms, conditions, fees and charges are available on request and on application.
*The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable. 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.
Personal Loans Significant Terms and Conditions - Variable interest rates apply to personal loan products. The Green Vehicle Guide (www.greenvehicleguide.gov.au) provides ratings on the environmental performance of new vehicles sold inAustralia. You can use this site to see how vehicles compare on greenhouse emissions. When buying a new car, use the site to identify the vehicle with the highest rating which meets your needs. For information on ANCAP ratings visit www.howsafeisyourcar.com.au. Maximum term of 7 years (new) and 5 years (used). Maximum term of 10 years and minimum amount of $1,000 apply to Personal Loans, other than the Homebuyers Personal Loan when the purpose is renovation. In this case the maximum term is 15 years. Revolving credit facilities require a minimum monthly payment, as per various contractual arrangements.
Full terms, conditions, fees and charges are available on request and on application.
*The Comparison Rate is based on a secured loan of $30,000 for 5 years. # The Comparison Rate is based on a unsecured loan of $10,000 for 3 years. Fees and charges may be applicable. 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.
Interest rates expressed as annual percentage rates.
Australian Credit Licence Number 238431
comparison rate - The Comparison Rate provides an indicative interest rate that takes into account certain costs associated with setting up and maintaining a loan, including the annual percentage rate/s, loan establishment fees and any other up front or ongoing fees. It does not include any government and statutory fees, as these fees are standard for all lenders and for certain types of loans. It also does not include fees and charges that are 'event based' and which may or may not apply throughout the term of your loan (for example, redraw fees or early termination costs).
The Comparison Rate will allow you to compare different loans with varying interest rates and fee structures and also allow you to compare bankmecu loans with those provided by other lending institutions. All lenders are required to provide a Comparison Rate when advertising interest rates for lending products.
The Comparison Rate is calculated by lenders based on average loan amounts and loan terms relevant to the loan product. bankmecu calculates the Comparison Rate for home and investment loans on a $150,000 loan for 25 years. The Comparison Rate for all car loans is based on a secured loan of $30,000 for 5 years. The Comparison Rate for the Homebuyers Personal Loan and Personal Loan is based on an unsecured loan of $10,000 for 3 years.
When comparing the Comparison Rates of loans, it is recommended that you compare not only the interest rate, but also the features and attributes of each loan. Features and attributes such as free redraw, 100% mortgage offset and ability to make extra repayments are not included in the Comparison Rate calculation.
Full terms and conditions, fees and charges are available on request and on application.