Gateway Bank Variable Rate Home Loan (Premium Package)

3.74% p.a.

4.05% p.a.

$299.00 yearly

3.89% p.a.

4.20% p.a.

$299.00 yearly

4.19% p.a.

4.49% p.a.

$299.00 yearly

4.49% p.a.

4.79% p.a.

$299.00 yearly

4.38% p.a.

4.68% p.a.

$299.00 yearly

Gateway Bank Variable Rate Home Loan (Premium Package) Review

Review published: 22 March 2018

What's hot:

  • 2018 Mozo Experts Choice winner

  • Variable rates from 3.74% (4.05% comparison rate)

  • Offset account and extra repayments available

  • $0 application fee

What's not:

  • $299 annual fee

Mozo snapshot:

With competitive interest rates for both owner occupiers and investors, the Variable Rate Home Loan (Premium Package) from Gateway Bank provides everything you’ll need in a top-notch mortgage package including an offset account, redraw facility and the potential to make extra repayments. And it certainly impressed the experts - taking out a 2018 Mozo Experts Choice Award for best Split Home Loan together with the Fixed Rate Home Loan (Premium Package).

Key features:

Whether you’re a prospective owner occupier in the market for your first home, or an investor looking for your third, the Gateway Bank Variable Rate Home Loan (Premium Package) offers a combination of competitive rates and handy features to help you save.

Depending on your loan size and LVR, rates for owner occupiers start from a low 3.74% (4.05% comparison rate) while investors can expect a variable rate from 4.19% (4.49% comparison rate).

As you would expect from a premium package, Gateway Bank provides borrowers with a suite of handy features which they can use to reduce their interest over the life of the loan including an offset account and the ability to make additional repayments at no added cost. Customers will also be able to dip in to those extra repayments for free using the redraw facility.

While borrowers won’t pay a cent in application, legal or settlement fees, Gateway Bank does charge a $299 annual service fee as well as a $300 discharge fee when you finish paying off your loan.

And in case you’re still not convinced, if you sign up for the Variable Rate Home Loan (Premium Package) you’ll also be able to earn an extra 0.10% on a Gateway Bank term deposit, not to mention discounts on a number of CGU insurance policies.

Who it's good for:

Owner occupiers and investors who are looking for a home loan with a competitive rate that provides all the features they’ll need could take advantage of the Gateway Bank Variable Rate Home Loan (Premium Package).

Any catches?

If you do decide to make use of Greater Bank’s free redraw facility, just bear in mind that there’s a minimum redraw amount of $500.00.

The Mozo community has not yet rated Gateway Bank for this home loan.

Currently showing

Rates

  • 3.74% p.a.

  • n/a

  • 0 Months

  • none

  • 4.05% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $299.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 85.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • 0.10% bonus rate on term deposits, 10% discount off CGU general insurance premiums.

Rates

  • 3.89% p.a.

  • n/a

  • 0 Months

  • none

  • 4.20% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $299.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • 85.00%

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • 0.10% bonus rate on term deposits, 10% discount off CGU general insurance premiums.

Rates

  • 4.19% p.a.

  • n/a

  • 0 Months

  • none

  • 4.49% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $299.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • 0.10% bonus rate on term deposits, 10% discount off CGU general insurance premiums.

Rates

  • 4.49% p.a.

  • n/a

  • 0 Months

  • none

  • 4.79% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $299.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • 0.10% bonus rate on term deposits, 10% discount off CGU general insurance premiums.

Rates

  • 4.38% p.a.

  • n/a

  • 0 Months

  • none

  • 4.68% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $299.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - free

  • $500.00

  • yes

  • yes

  • none

  • 0.10% bonus rate on term deposits, 10% discount off CGU general insurance premiums.

About Gateway Bank

Gateway Bank is a deposit taking institution that is open to all Australians, who in turn will receive the excellent service and value from Gateways' products. Gateway Bank has a comprehensive range of products in home loans, term deposits, personal loans, kids savings accounts, car loans, everyday banking accounts, savings accounts and debit cards.

*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.

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