Home Loan Products

Offset Home Loan

Summary
Rates & Fees
Calculators
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Use your savings to reduce your interest.

This is a flexible loan that gives you the ability to use your savings to reduce the interest charged on your loan.

Main Features

100% Offset.¹
Weekly, fortnightly or monthly repayments.
Additional repayments accepted.²
Interest Only available.³
1 - 5 year Fixed Interest Rate option.
Fixed Rate Lock available 1 - 3 year terms only.⁴
Redraw available ($500 minimum).
Repayment Holiday.⁵
Family Repayment Pause.⁶
No Early Repayment penalties.
Break Cost Fee.⁷
No maximum loan amount.
30 year maximum loan term.

Offset Facility

The offset facility is a separate account run in conjunction with the home loan account. With 100% offset, we deduct your Savings Account balance from your Home Loan balance and you only pay interest on the reduced amount. For example, if the amount borrowed is $200,000 and the balance of the offset account is $20,000, interest will only be calculated on $180,000.

Interest

Calculated daily and charged monthly in arrears.

Repayments

Principal & Interest repayments.
Interest Only repayments are also available for 1-5 and 10 year terms.

Loan to Value Ratio (LVR)

Maximum 95% of the value of the property (Lenders Mortgage Insurance is required for loans of more than 80% of the value of the property).

Security

First mortgage over owner-occupied or investment property.

When you link a savings account to an offset facility, you earn no interest under the savings account even if the balance of the savings account exceeds the loan balance.
Maximum of $5,000 in extra repayments during the fixed interest rate period. Any funds paid in excess of $5,000 will incur a Break Cost Fee.
Monthly repayments only.
Maximum duration of Lock 60 days prior to funding. Maximum loan amount $500,000.
Loan must be in advance to enable repayment holiday.
Repayment pause is between 3 and 6 months and approval is required.
Fee only applies during fixed interest rate period.

Rates & Fees

Variable Interest Rate (p.a.)¹	6.99%
Comparison Rate* (p.a.)²	7.04%
View Fixed Interest Rates
Establishment Fee	$600
Administration Fee	$0
Redraw Fees	$0

Terms and Conditions

Part A - Product Information
Part B - Fees and Charges
Part C - Interest Rates

Interest Rates effective 20 December 2011. Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
Comparison rate calculated on a secured loan amount of $150,000 for a term of 25 years.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate.

*Comparison rates for first home buyers will differ to those outlined above.

Calculators

	Borrowing Power Find out how much you can expect to borrow based on your current salary and existing financial commitments.
	Loan Repayments Work out what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount.
	Stamp Duty and Government Fees Stamp duty and Government fees add significantly to the cost of buying a property. Find out how much it will cost in your state or territory.
	Extra Repayments Calculate how much time and interest you can save by paying more than the minimum repayment.
	Lump Sum Repayments Calculate the time and interest you can save by paying a lump sum off your loan.
	Loan Comparison Compare two loans and calculate the savings.