Standard Variable rate
Designed to be flexible – the interest rate may rise and fall according to market forces.
Low Introductory rate
Designed to help you in the first year of a new loan when your expenses may be at their highest. Starts with a guaranteed fixed rate which reverts to the standard variable rate.
Basic or Reduced Variable rate
Typically, a Reduced Variable Rate loan offers the same interest rate flexibility as a Standard Variable Rate loan, but with a lower interest rate and some slightly different features.
Fixed rate
Offers the certainty of knowing what your repayments will be for a fixed period of up to 5 years. Should you wish to change from a fixed rate to a variable rate before the end of the fixed period, you may be required to pay a penalty known as “break costs”. These penalty costs can be significant.
Split loan option
You have the option of splitting your loan. Combines the flexibility of a variable interest rate with the certainty of a fixed interest rate.
Line of Credit
A Line of Credit gives you the ability to draw on funds at any time, up to an established maximum limit. As long as interest and fees and charges are met on a monthly basis, there are no set principal repayments so you can repay as much or as little as you like until the end of the term when the balance is due.
Transactional loan
A Transactional loan lets you have the features of your savings account as part of your loan. You can access your loan account using your debit card via Eftpos, ATMs and also by using your Cheque book. Every dollar that you deposit into your transactional loan helps reduce your loan balance and therefore the interest you pay.
Interest only repayments
Payments of interest only are available on some of our loans – this may be the ideal way to purchase an investment property, with the repayments required being kept to a minimum.
Interest in advance
Allows you to pay interest 12 months in advance. Interest in advance is available on Fixed Rate Investment home loans.
Redraw facility
A redraw facility allows you to access additional payments you have made to your loan.
100% offset
With a 100% interest offset facility, the interest charged to your home loan is calculated on the difference between the home loan balance and the balance you have in your “Flexible Loan Offset” savings account (FLO). Please refer to our Loan option chart for information regarding which loans can be linked to our FLO account.
Top – up
Allows you to increase your loan if you need further finance. Usual lending assessment to apply.
Progress payments
Your loan can be drawn progressively when building or renovating.