With the Standard Variable Rate home loan from Australian Mutual Bank, owner occupiers can receive a competitive interest rate of 6.44% p.a. (6.51% p.a. comparison rate*), plus a 100% offset account option, unlimited free extra repayments and free online redraw facility. So with all that, what more could you want in a home loan?
The Australian Mutual Bank Standard Variable Rate home loan offers relatively competitive variable rates to both owner occupier and investors borrowers, with rates currently starting at 6.44% p.a. (6.51% p.a. comparison rate*) for owner occupiers.
Loan sizes start at a minimum $20,000 and go all the way up to $10,000,000, and you'll be able to borrow up to 95% of the property’s price (a maximum 95% loan-to-value ratio is required). The home loan also comes with loads of flexible features to help you save, including:
A 100% offset account
Free extra repayments and a free online redraw facility (fees apply for redraws not made online)
The choice of either weekly, fortnightly or monthly loan repayments
The option to split your loan between fixed and variable rate portions
When it comes to fees, there’s good news and bad news. The good news is this offer from Australian Mutual Bank doesn’t come with any ongoing account keeping fees. The bad news, however, is this loan does come with other charges, such as a $250 application fee and a $180 discharge fee.
Two major groups of borrows will love this loan, those after a low deposit option to help them get a foot on the property ladder, and those who want to have all the features they could ask for to help them pay off their loan quicker and save on interest.
Just be aware that if you do have an LVR over 80% then you’ll have to pay Lenders Mortgage Insurance.
6.44% p.a. |
|
n/a |
|
n/a |
|
n/a |
|
6.46% p.a. |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
$250.00 |
|
n/a |
|
n/a |
|
n/a |
|
n/a |
|
$0.00 |
|
$180.00 |
$20,000 |
|
$10,000,000 |
|
none |
|
95.00% |
Owner Occupier |
|
Principal & Interest |
|
Weekly, Fortnightly, Monthly |
|
yes - free |
|
no |
|
yes - free |
|
$0.00 |
|
yes |
|
yes |
|
Free redraw only available online. Fees & charges apply for branch or phone redraw. Legal, settlement and valuation fees charged at cost. |
|
none |
|
none |
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Mortgage Simplifier
6.14% p.a. variable
6.17% p.a.
Flex Home Loan
6.24% p.a. variable
6.48% p.a.
Elevate
6.09% p.a. variable
6.20% p.a.
SMSF Home Loan (Variable)
6.99% p.a. variable
7.00% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Mortgage Simplifier
6.14% p.a.
6.17% p.a.
Flex Home Loan Fixed
5.99% p.a.
fixed 3 years
6.41% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Home Value Loan
6.09% p.a.
6.09% p.a.
$0.00
Mortgage Simplifier
6.14% p.a.
6.17% p.a.
$0.00
Elevate
6.09% p.a.
6.20% p.a.
$0.00
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.