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).
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.