Rates (effective 01/11/13)
|$0 - $249,999
|$250,000 - $499,999
|$500,000 - $749,999
low variable interest rates
A low variable interest rate that is calculated on the daily balance to ensure that you gain immediate benefit from loan repayments.
free redraw facility
Reduce the term of your home loan and interest charges by contributing additional repayments towards it, on top of your normal scheduled repayments. You can redraw your additional repayments at any stage too!
mortgage offset available
Reduce the amount of interest you pay and pay off your home loan sooner! A Mortgage Offset account offsets 100% of your savings against the balance of your loan when the loan interest is calculated. For example, if you have a loan balance of $100,000 and a Mortgage Offset account with a $20,000 balance, interest will be calculated on the difference between your loan amount and your Mortgage Offset balance. i.e. interest will be calculated on $80,000 rather than the full $100,000 owing.
The Mortgage Offset account also reduces the amount of tax you pay on your income. As the account is non-interest earning, there is no savings interest to be taxed.
There is no minimum balance requirement and you have the added convenience of being able to access your money by VISA, Redicard PLUS or chequebook.
* The comparison rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable.
IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Cost such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.