EFFECTIVE 01/09/2010
|
Features
|
Honeymoon
|
Variable Rate
|
Discount Variable
Rate
|
Fixed
Rate
|
EquitiSmart
|
| Interest Rate |
Year 1
Fixed
Year 2 & 3 Discounted Variable or Fixed
|
Variable
|
Year 1 Variable
Year 2 & 3
Discounted
Variable or Fixed
|
Fixed for either 1, 2 or 3 years
|
Variable
|
| Converts to |
Variable
|
|
Variable
|
Variable
|
|
| Split Loan |
|
|
|
|
|
| Switch to |
× |
× |
|
|
× |
Loan % of
Property Value |
up to 95%
|
up to 95%
|
up to 95%
|
up to 95%
|
up to 80%
|
| Lenders Mortgage Insurance Applicable |
If you borrow more than 80%
|
n/a
|
| Loan Amount (min) |
$50,000
|
$20,000
|
$50,000
|
$50,000
|
$20,000
|
| Loan Term (max) |
30 years
|
30 years
|
30 years
|
30 years
|
n/a
|
Additional
Payments |
|
|
|
|
|
Additional
Payment Restrictions* |
|
×
|
|
|
|
| 100% Loan Offset |
×
|
|
|
×
|
n/a
|
| Redraw Facility |
×
|
|
|
×
|
×
|
| Visa Debit Card |
×
|
Is only available with 100% Loan Offset Account and while the home loan has a variable rate.
|
×
|
×
|
Repayment
Options
|
Weekly, Fortnightly, Monthly
Principal + Interest or Interest Only
|
| Account Keeping Fee |
×
|
×
|
×
|
×
|
×
|
| Portability |
|
|
|
|
|
Rate Lock
(Fees Apply) |
|
×
|
×
|
|
×
|
Loan Setup
Costs |
Yes - Refer to Loan Fees
|
Loan Contract
Fees |
Government charges, credit fees and other charges may apply
|
Important Information
1. Interest is calculated on daily balances and charged monthly in arrears.
2. Comparison rate based on $150,000 over 25 years.
3. EquitiSmart - Access funds whenever you need via Online Banking or CUE Call. Automatic payments to and from your account.
4. EquitiSmart - Earn interest on credit balances at an Everyday Savings rate.
5. EquitiSmart - Regular repayments not required provided you maintain the balance below your approved credit limit.
6. *Additional Repayment Restrictions:
For Honeymoon or Discount Variable Rate Home Loan - If entire loan is repaid within the first 3 years a fee may be charged.
For Fixed Rate Home Loan - If entire loan is repaid within the fixed rate period a fee may be charged.
7. Variable Rate Home Loan and Discount Varibale Rate Home Loan can have Loan Redraw and/or 100% Loan Offset.
8. 100% Loan Offset is not available with Fixed Rate Home Loans.
9. Loan Fees apply along with other Fees and Charges.
10. In relation to a 100% Loan Offset Account, please view our Terms and Conditions and Financial Services Guide.
11. Visa Debit Card is available with 100% Loan Offset Accounts. The Card Fee is waived if you hold a Gateway Home Loan. However, Fees and Charges apply if non rediATMs, non Cashcard ATMs and/or overseas ATMs are accessed.
12. Your Visa Debit Card can only be linked to a 100% Loan Offset Account while you have a home loan with a variable interest rate. If, during the term of your loan, your Variable Rate Home Loan is converted to a Fixed Rate Home Loan or you select the fixed option in years 2 and 3 for your Discount Variable Rate Home Loan, then your 100% Loan Offset Account will convert to an Everyday Savings Account. This will enable you to still access your funds using your Visa Debit Card.
13. Any advice provided does not take into account your personal circumstances or needs. You should consider whether the product is right for you.