MOVE Bank Straightforward Investment Loan

Mozo snapshot:

If you’re looking for a competitive loan that won’t cost you an arm and a leg to maintain, then the MOVE Bank Straightforward Investment Loan is a worthy candidate. Not only does it charge no monthly service fees and no upfront fees except for a $450 application fee, but it also comes with a low 3.39% p.a. variable rate (3.42% p.a. comparison rate*).

Key features:

The MOVE Bank Straightforward Investment Loan is only offered to investors, and has a 3.39% p.a. variable interest rate (3.42% p.a. comparison rate*). You can borrow amounts starting from $150,000 up to $3 million, and up to 80% loan to value ratio. 

With this loan, you won’t have to worry about any ongoing service fees and there are almost no upfront fees involved, although you will need to budget for a $450 application fee. And once you finish paying off your loan balance or if you decide to refinance with another lender down the track, you’ll have to factor in a $150 discharge fee too. 

While the MOVE Bank Straightforward Investment Loan only gives you the option of making monthly repayments, it does come with some flexibility. You can make free extra repayments, and there’s also a free redraw facility which could come in handy if you’re suddenly in need of some cash, whether to buy a new car or to handle a financial emergency.

Who it's good for:

The MOVE Bank Straightforward Investment Loan is a great choice for investors looking for a loan that won’t blow a hole in their bank account.