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Reduce Home Loans Fixed Rate Wealth Maximizer

Advertiser disclosure
The details shown below are for an investor taking out a principal & interest loan between $250,000 and $3,500,000 with an LVR below 80%
The details shown below are for an investor taking out a interest only loan between $250,000 and $3,500,000 with an LVR below 80%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Investor Principal & Interest < 80% $250,000 $3,500,000
Investor Interest Only < 80% $250,000 $3,500,000
  • Investor (Principal & Interest)
    LVR < 80%
    Loan: $250,000 $3,500,000
  • Investor (Interest Only)
    LVR < 80%
    Loan: $250,000 $3,500,000
Fixed 3 year rate
6.29% p.a.
Comparison Rate
6.55% p.a.
Service fee
$0.00
Upfront fee
$940
Fixed 3 year rate
6.39% p.a.
Comparison Rate
6.64% p.a.
Service fee
$0.00
Upfront fee
$940

Mozo editorial review Reduce Home Loans Fixed Rate Wealth Maximizer - last updated: 23 February 2024

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What's hot
  • 6.39% p.a. rate (6.59% p.a. comparison rate*) for 1 year fixed term
  • Free extra repayments
  • Cashback offer
  • 2022 Mozo Experts choice Award winner
What's not
  • Upfront costs may apply
Mozo snapshot

Searching far and wide for your next investment property? With competitive fixed interest rates starting from 6.39% p.a. (6.59% p.a. comparison rate*) for 1 year terms, as well as free extra repayments and a lack of ongoing service fees, the Fixed Rate Wealth Maximizer from Reduce Home Loans could be a great loan match for investors. It even won a Mozo Experts Choice Award in the investor fixed rate category. Just keep in mind that there may be some sizeable upfront fees to pay depending on the specific loan you choose.

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Key features

The Fixed Rate Wealth Maximizer home loan from Reduce Home Loans could be the low rate option to find your first, or even fifth, investment property. Reduce will offer a few different fixed rate options for you to choose from depending on your LVR and whether you’re making principal and interest or interest only repayments.

  • 1 year (P&I): from 6.39% p.a. (6.59% p.a. comparison rate*)
  • 2 year (P&I): from 6.19% p.a. (6.55% p.a. comparison rate*)
  • 3 year (P&I): from 6.29% p.a. (6.55% p.a. comparison rate*)
  • 4 year (P&I): from 6.49% p.a. (6.59% p.a. comparison rate*)
  • 5 year (P&I): from 6.49% p.a. (6.58% p.a. comparison rate*)

The minimum loan amount is $250,000 and the maximum is $3,500,000 (lower comparison rates apply to loans over $1,000,000). 

For all loan terms, you will need to budget for a range of fees, including a $440 application fee, $250 settlement fee, and $250 valuation fee. The application and settlement fees are waived for loans over $1,000,000.

When it comes to features, all borrowers with a Fixed Rate Wealth Maximizer home loan will be able to make free extra repayments, split their loan, choose their repayment schedule (either weekly, fortnightly or monthly) and even make use of an offset account for $10 a month.

Cashback offer:

Reduce Home Loans are sweetening the deal with a cashback offer. Those with a loan amount between $250,000 and $499,999.99 could receive $2,000 cashback, loans between $500,000 and $749,999.99 could receive $3,000 cashback, loans between $750,000 and $1,999,999.99 could receive $5,000 cashback and loans over $2,000,000 could receive $10,000 cashback (T&C's apply).

Keep in mind that your loan must stay current for a minimum of 24 months after the loan settlement. If you discharge your loan within the 24 months from the date the cash back is paid then this amount will need to be re paid and added to your total balance payable at the time of your discharge.

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Who is it good for

With some fixed rate offers for 1-5 year terms, the Reduce Home Loans Fixed Rate Wealth Maximizer loan could be a great option for investors looking to keep their repayments to a minimum.

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Any catches

While there aren’t any ongoing service fees attached to the Fixed Rate Wealth Maximizer loan, you'll need to factor in a number of upfront fees (including application, valuation and settlement fees).

Details

Rates and fees information correct as at 29 March 2024. 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

n/a

n/a

n/a

n/a

6.39% (6.59%*)

6.19% (6.55%*)

6.29% (6.55%*)

6.49% (6.59%*)

6.49% (6.58%*)

n/a

n/a

6.54% p.a.

Fees

$440.00

n/a

$250.00

$250.00

n/a

$0.00

$500.00

Other financial bits

$250,000

$3,500,000

none

80.00%

Features

Weekly, Fortnightly, Monthly

yes - free up to $20,000 per annum during fixed period

no

yes - free

$0.00

yes

yes - optional $10/month

Loans with a LVR of over 80% are limited to $1,000,000. Different fees may apply to different loan terms. Application and legal fees charged at settlement. Valuation fee charged at conditional

Add 0.10% to waive fees $1170 on loans over $300k

Cash back from $2,000 to $10,000 depending on amount borrowed. Loan must stay current for a min 24 months after settlement.

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 29 March 2024. 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

n/a

n/a

n/a

n/a

6.69% (6.72%*)

6.49% (6.69%*)

6.39% (6.64%*)

6.59% (6.70%*)

6.59% (6.69%*)

n/a

n/a

6.64% p.a.

Fees

$440.00

n/a

$250.00

$250.00

n/a

$0.00

$500.00

Other financial bits

$250,000

$3,500,000

none

80.00%

Features

Weekly, Fortnightly, Monthly

yes - free up to $20,000 per annum during fixed period

no

yes - free

$0.00

yes

yes - optional $10/month

Loans with a LVR of over 80% are limited to $1,000,000. Different fees may apply to different loan terms. Application and legal fees charged at settlement. Valuation fee charged at conditional

Add 0.10% to waive fees $1170 on loans over $300k

Cash back from $2,000 to $10,000 depending on amount borrowed. Loan must stay current for a min 24 months after settlement.

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 Reduce Home Loans home loans rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust

About Reduce Home Loans

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Ultra Low Rate

6.30% p.a. variable

6.58% p.a.

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5.99% p.a. variable

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6.17% p.a.

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Variable

5.99% p.a. variable

5.90% p.a.

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Ultra Low Rate

6.30% p.a. variable

6.58% p.a.

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Bendigo Bank

Express Home Loan

6.01% p.a. variable

6.14% p.a.

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6.14% p.a. variable

6.16% p.a.

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Macquarie

Offset Home Loan (Package)

6.15% p.a. variable

6.40% p.a.

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Variable

6.29% p.a. variable

6.20% p.a.

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ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.37% p.a.

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Macquarie

Basic Home Loan (Fixed)

5.99% p.a.
fixed 3 years

6.13% p.a.

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Unloan

Variable

5.99% p.a.

5.90% p.a.

Thumbnail icon for Sucasa
Sucasa

Ultra Low Rate

6.30% p.a.

6.58% p.a.

Thumbnail icon for Macquarie
Macquarie

Offset Home Loan (Package)

6.15% p.a.

6.40% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan

6.01% p.a.

6.14% p.a.

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BCU Bank

OMG Home Loan

5.99% p.a.

6.00% p.a.

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ubank

Neat Home Loan

6.14% p.a.

6.16% p.a.

Thumbnail icon for Macquarie
Macquarie

Basic Home Loan

6.15% p.a.

6.17% p.a.

Thumbnail icon for BCU Bank
BCU Bank

Fixed Rate Home Loan

p.a.

6.30% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.04% p.a.
fixed 3 years

6.15% p.a.

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Macquarie

Basic Home Loan (Fixed)

5.99% p.a.
fixed 3 years

6.13% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

Thumbnail icon for ubank
ubank

Flex Home Loan Fixed

5.99% p.a.
fixed 3 years

6.41% p.a.

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ING

Fixed Rate Loan (with Orange Advantage)

5.99% p.a.
fixed 3 years

6.12% p.a.

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BCU Bank

Fixed Rate Home Loan

6.29% p.a.
fixed 3 years

6.30% p.a.

Thumbnail icon for Bendigo Bank
Bendigo Bank

Express Home Loan (Fixed)

6.54% p.a.
fixed 3 years

6.38% p.a.

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Macquarie

Basic Home Loan (Fixed)

6.09% p.a.
fixed 3 years

6.19% p.a.

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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