A fixed rate loan is ideal if you want the security of knowing what your repayments will be. You can fix the interest rate on your loan for 1, 2, 3, 4 or 5 years. After that period, it reverts to our
Standard Variable Rate Loan.
Key Features
Account keeping fee
| Zero
|
Max loan term
| 30yrs
|
| Max LVR (Loan Value Ratio) | 95%
|
Lenders mortgage insurance
| Is generally required if amount borrowed is more than 80% of the valuation of the security property |
Repayment frequency
| Weekly/fortnightly/monthly |
Repayment method
| No restrictions |
Additional repayments
| During the fixed rate period you can repay 25% of the original loan amount in additional payments
over the fixed term (e.g. $100,000 fixed for 5 years would allow
$25,000 in additional payments within the 5 years). If the total of the additional payments to the loan exceeds 25% of the loan amount, a fee may be payable.
Additional repayments are accepted any time during the variable rate period.
|
Redraw facility
| Not available during fixed period.
|
Available for construction loan
| Not available during fixed period. |
Interest only option
| Yes
|
| 100% offset account | Only available after fixed rate period ends.
|
Free linked transaction account
| Yes (terms and conditions apply)
|
Purpose
| Owner occupied or investment use
|
Split Loan
| Yes. You can have this loan as a standalone loan or as part of a split-loan. |