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MOVE Bank Straightforward Investment Loan

Advertiser disclosure

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $499,999 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $500,000 and $3,000,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $150,000 and $3,000,000 with an LVR below 75%

Choose the version of this loan that suits you best

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $499,999

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $500,000 $3,000,000

  • Investor (Interest Only)

    LVR < 75%

    Loan: $150,000 $3,000,000

Rate
2.69% p.a.
Comparison Rate
2.72% p.a.
Service fee
$0.00
Upfront fee
$450
Rate
2.59% p.a.
Comparison Rate
2.62% p.a.
Service fee
$0.00
Upfront fee
$450
Rate
3.04% p.a.
Comparison Rate
3.07% p.a.
Service fee
$0.00
Upfront fee
$450

Mozo editorial review MOVE Bank Straightforward Investment Loan

Last updated: 19 November 2020.

binocular icon
What's hot
  • $1,000 cash back offer until 29 May 2020
  • Rates as low as 2.59% p.a. (2.63% p.a. comparison rate*)
  • Free extra repayments and redraw facility
What's not
  • $450 application fee
  • No offset account
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 2.59% p.a. variable rate (2.63% p.a. comparison rate*).

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Key features

The MOVE Bank Straightforward Investment Loan is only offered to investors, and has a 2.59% p.a. variable interest rate (2.63% p.a. comparison rate*) on loans over $500,000. You can still get a competitive 2.69% (2.73% comparison rate*) on amounts between $150,000 and $499,999. These rates become available from 1 December 2020 for borrowers with up to 80% loan to value ratio. 

To be eligible for the current $1,000 cash back deal, you'll have to meet a few conditions, including holding either an Everyday Saver or an Express Saver account for the money to be paid into, be refinancing at least a $400,000 loan and have joined MOVE Bank on or after 17 December 2019.

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.

snapshot
Who is it 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.  

snapshot
Any catches

Keep in mind that the MOVE Bank Straightforward Investment Loan only allows you to make monthly repayments, so if you’re hoping to pay down your balance on a more frequent basis, you won’t be able to with this loan. However, you could instead opt for making extra repayments every month to pay off the loan early and save on interest. 

Details

Rates and fees information correct as at 28 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.69% p.a.

  • n/a

  • n/a

  • n/a

  • 2.72% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $450.00

  • $0.00

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $150.00

Other financial bits
  • $150,000

  • $499,999

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Monthly

  • yes - free

  • no

  • yes - free

  • none

  • yes

  • no

  • Valuation fee payable at cost

  • none

  • Receive $1,000 for new applications for loan amounts of $500,000 or more received before 30 June 2020 and settled by 31 July 2020 with a MOVE Bank Savings Account.

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.

Details

Rates and fees information correct as at 28 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.59% p.a.

  • n/a

  • n/a

  • n/a

  • 2.62% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $450.00

  • $0.00

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $150.00

Other financial bits
  • $500,000

  • $3,000,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Monthly

  • yes - free

  • no

  • yes - free

  • none

  • yes

  • no

  • Valuation fee payable at cost

  • none

  • Receive $1,000 for new applications for loan amounts of $400,000 or more received before 29 May 2020 and settled by 30 June 2020 with a MOVE Bank Savings Account.

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.

Details

Rates and fees information correct as at 28 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.04% p.a.

  • n/a

  • n/a

  • n/a

  • 3.07% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $450.00

  • $0.00

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $150.00

Other financial bits
  • $150,000

  • $3,000,000

  • none

  • 75.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • no

  • yes - free

  • none

  • yes

  • no

  • Valuation fee payable at cost

  • none

  • Receive $1,000 for new applications for loan amounts of $500,000 or more received before 30 June 2020 and settled by 31 July 2020 with a MOVE Bank Savings Account.

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.

Customer Reviews

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

Overall
7.1/10
Price
7.1/10
Features
6.1/10
Customer service
7.1/10
Convenience
6.3/10
Trust
6.9/10
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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.