Which loan is right for you?
A FlexiLoan is ideal if:
- you want the flexibility to vary mortgage payments to manage cashflow.
- you think you may receive a sum of money in the future that could go towards repaying your mortgage - such as an inheritance or commission payments.
- you think you may want extra money in the future for a particular project - such as home renovation.
- you want the ability to pay off your mortgage faster (and therefore minimise the interest you pay).
- you can make 'extra' contributions to your mortgage from time to time.
- you want access to a line of credit via your transaction account.
A Variable Rate Loan is ideal if:
- you want the security of a conventional home loan - with added flexibility.
- you may want to change your loan structure and repayments in the future*.
- you want a regular payment plan so you can budget your expenses.
- you want a table or reducing loan.
* A fee may apply
A Fixed Rate Loan is ideal if:
- you want the security of regular repayment amount.
- you want an interest rate that is guaranteed not to change for a specified period.
- what's more you may increase your principal repayments by up to a further $1,000 per month or $500 per fortnight without penalty.
An Overdraft facility is ideal if:
- you want short-term access to funds of between $500 and $50,000.
- you want an 'emergency fund' for unexpected expenses.
- you can offer security (such as a property for larger overdrafts).
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