When you sign up with this loan you’ll receive a competitive 3.99% variable interest rate (4.01% comparison rate). Furthermore, the RBA Rate Tracker Home Loan promises to reward you in full with any Reserve Bank rate reductions, that discount within just 2 working days.
When you consider that some banks take weeks to pass on RBA rate cuts, this really is a great value offering and could end up saving you some significant coin. But of course, keep in mind if there are any rate increases down the track, you’ll be hit with a speedy rate hike on your loan.
The RBA Rate Tracker Home Loan is available to owner occupiers, who are only looking to borrow up to 80% of the property’s value. The loan range is also very large, allowing loans from $150,000 all the way to $3,500,000.
When it comes to features, there's plenty on offer - such as your choice of repayments either weekly, fortnightly or monthly.
Also, you'll be able to make free extra repayments to save yourself on some interest. And you can make free redraws from these early repayments with no minimum redraw amount required. Moreso, if you're ahead on your repayments, you have the option to take repayment holiday.
Plus, there's no ongoing fees you'll need to pay