Greater Bank Ultimate Home Loan (Fixed, Package)

3.74% p.a.

4.43% p.a.

$375.00 yearly

3.94% p.a.

4.48% p.a.

$375.00 yearly

4.54% p.a.

4.84% p.a.

$375.00 yearly

4.94% p.a.

5.23% p.a.

$375.00 yearly

Greater Bank Ultimate Home Loan (Fixed, Package) Review

Rates and fees information correct as at 20 August 2017.

Review published: 20 May 2016

What's hot:

  • Five year fixed rate just 4.19%

  • No application fee

  • No annual fee on your Everyday bank account and credit card

  • Mozo Experts Choice Awards Winner 2017

What's not:

  • $375 yearly service fee

Mozo snapshot:

Looking for a home loan to keep interest costs low but don’t want to miss out on all the benefits of a package deal? Then check out the Ultimate Home Loan fixed rate packages on offer from Greater Bank. Although there’s a hefty $375 annual fee to consider, rock bottom interest rates and package discounts on insurance, bank account and credit cards, make this piece of plastic well worth the price tag. It’s no wonder this great value home loan package received an award in the Fixed Rate Investor Home Loan category in the 2017 Mozo Experts Choice Awards.

Key features:

There are two slightly different fixed rate home loan packages on offer from Greater Bank, depending on how much you want to borrow and your LVR.  

The fixed rate Discount Ultimate Home Loan is available to owner occupiers borrowing $150,000 or more, up to 85% of the property’s value. Rates range from 3.59% for 1 year, 3.79% for 2 years, 3.84% for 3 years and 4.19% for 4 and 5 years.

The Ultimate Home Loan, on the other hand, is for borrowers after amounts starting from $40,000, with an LVR of up to 95%. Customers can expect fixed rates of 3.79% for 1 year, 3.99% for 2 years, 4.04% for 3 years and 4.39% for 4 and 5 years.

You can set up your Greater Bank Ultimate Home Loan so that you make weekly, fortnightly or monthly repayments, plus, you can also choose to split your loan between fixed and variable rates.

As far as features go, you’ll have a free online redraw facility to work with, but remember, to use this, you have to make extra repayments on your home loan, which will incur a fee.

And don’t forget about all the perks that come with a fixed rate Greater Bank home loan package. Link your credit card or everyday bank account to your home loan and forget about paying the annual credit card or account fee. Plus, cash in on discounts on a range of Greater Bank insurance products and a free financial planning consultation when you take out an Ultimate Home Loan Package.

Who it's good for:

With one of the best rates for a 5 year term, this fixed rate loan is perfect for those looking for long term security against rate rises, as well as some great package perks.

Any catches?

If you want to make extra repayments in order to pay your loan off quicker, you’ll pay a fee to do so. And remember, because this is a fixed rate loan, paying the entire balance off before the fixed term is up may incur heavy early break fees.

How are Greater Bank home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.6

Based on 62
Greater Bank home loans reviews

8.5 7.8 9.2 9.1 8.8

Read Greater Bank home loan reviews by the Mozo community

Latest reviews of Greater Bank Ultimate Home Loan (Fixed, Package)

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<85%, over $150k, Owner Occupier) (Fixed, Package) home loan review

Overall rating   9 / 10

Fantastic service

Have always been very friendly and helpful. I got my first home loan there when a lot of other banks weren't interested and the service has never been less than fantastic. They have been very accomodating in working around my busy schedule for...

Have always been very friendly and helpful. I got my first home loan there when a lot of other banks weren't interested and the service has never been less than fantastic. They have been very accomodating in working around my busy schedule for meetings etc. The redraw facility has been very useful and the website is so easy to use.

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Juanita (NSW), reviewed about 3 years ago

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<85%, over $150k, Owner Occupier) (Fixed, Package) home loan review

Overall rating   10 / 10

Excellent customer service

I like this bank because they care about the people and assist whenever required. They are very helpful when asking questions you always get friendly helpful response.

I like this bank because they care about the people and assist whenever required. They are very helpful when asking questions you always get friendly helpful response.

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Mozo reviewer (NSW), reviewed almost 4 years ago

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<85%, over $150k, Owner Occupier) (Fixed, Package) home loan review

Overall rating   10 / 10

Feels like home with amazing benefits

I was a Area Manager with NAB For the past five years I was with the Greater prior to that but felt for credibility that I should transfer to NAB. I am now in a different role and have returned to the Greater. Virginia @Tamworth is fantastic to...

I was a Area Manager with NAB For the past five years I was with the Greater prior to that but felt for credibility that I should transfer to NAB. I am now in a different role and have returned to the Greater. Virginia @Tamworth is fantastic to deal with and we love the brand and what it stands for. The Greater feels like home warm, safe, familar and respected as individuals....we love it. In this current ecomonic climate banks are still trying to run their business with high profits. Where The Greater looks at looking after customers and makes a small profit from volume and cross sell products that benefit the customer. I am so happy to be back.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Mozo reviewer (NSW), reviewed almost 4 years ago

Greater Bank

Greater Bank Discount Ultimate Home Loan (LVR<85%, over $150k, Owner Occupier) (Fixed, Package) home loan review

Overall rating   2 / 10

Poor service - average rates, American Comic?????

Poor Service once you have the loan customer service goes out the door.they are more worried about their American Comedian than their customers.

Poor Service once you have the loan customer service goes out the door.they are more worried about their American Comedian than their customers.

    Price   4 / 10

    Features   1 / 10

    Customer service   2 / 10

    Convenience   7 / 10

    Trust   -1 / 10

Less

Greg (NSW), reviewed almost 5 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.49% (4.47%*)

  • 3.69% (4.45%*)

  • 3.74% (4.43%*)

  • 3.99% (4.48%*)

  • 3.99% (4.47%*)

  • (*)

  • (*)

  • 4.16% p.a.

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $150,000

  • none

  • none

  • 85.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - fee applies

  • none

  • yes

  • $0.00

  • yes

  • no

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.69% (4.49%*)

  • 3.89% (4.49%*)

  • 3.94% (4.48%*)

  • 4.19% (4.55%*)

  • 4.19% (4.55%*)

  • (*)

  • (*)

  • 4.16% p.a.

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - fee applies

  • none

  • yes

  • $0.00

  • yes

  • no

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.29% (4.80%*)

  • 4.44% (4.81%*)

  • 4.54% (4.84%*)

  • 4.84% (4.95%*)

  • 4.84% (4.98%*)

  • (*)

  • (*)

  • 4.44% p.a.

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 95.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - fee applies

  • none

  • yes

  • $0.00

  • yes

  • no

  • none

  • Fee free credit card and transaction account, insurance discounts.

Rates

  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.69% (5.19%*)

  • 4.84% (5.20%*)

  • 4.94% (5.23%*)

  • 5.24% (5.34%*)

  • 5.24% (5.37%*)

  • (*)

  • (*)

  • 4.84% p.a.

Fees

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $375.00 yearly

  • $300.00

Other financial bits

  • $40,000

  • none

  • none

  • 70.00%

Features

  • Weekly, Fortnightly, Monthly

  • yes - fee applies

  • none

  • yes

  • $0.00

  • yes

  • no

  • none

  • Fee free credit card and transaction account, insurance discounts.

About Greater Bank

Greater Bank offers a range of personal and business banking products around a quarter of a million customers in NSW and Queensland. Its products include savings and investment accounts, home loans, personal loans, credit cards, business banking, financial planning, travel money and insurance. Greater Bank is owned by its customers, not shareholders, and has a focus on providing great rates, low fees and superior service.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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