![]() ![]() During an Interest Only period, your Interest Only payments will not reduce your loan balance. Comparison rates for fixed Interest Only loans are based on an initial Interest Only period equal in length to the fixed period. ![]() Comparison rates for variable Interest Only loans are based on an initial 5-year Interest Only period. Different terms, fees or other loan amounts might result in a different comparison rate. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. * Comparison rate calculated on a $150,000 secured loan over a 25 year term. At the end of an interest only period, your repayments will increase to cover principal and interest components. During an interest only period, your interest only payments won't reduce your loan balance. ![]() We have different rates that apply, depending on whether you are making interest only payments or principal and interest repayments. Any of these additional amounts will increase repayments under the loan. This is a one-off cost and will be added to the loan amount. Lenders' Mortgage Insurance or a Low Deposit Premium may apply to your loan depending on the size of your deposit security, applicant and loan attributes. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as establishment or monthly service fees or stamp duty). Interest rates referenced are current rates and may change at any time.įees and charges are payable. They assume interest rates don’t change over the life of the loan and are calculated on the rate that applies for the initial period of the loan. Information provided (including interest rates) are subject to change.Ĭalculations are estimates provided as a guide only. At the end of an Interest Only period, your repayments will increase to cover Principal and Interest components. During an Interest Only period, your Interest Only payments won't reduce your loan balance unless you choose to make additional repayments. We have different rates that apply, depending on whether you are making Interest Only payments or Principal and Interest repayments. ![]() The maximum Interest Only payment period over the life of a loan is 10 years for Investment Home Loans and 5 years for Owner Occupied Home Loans, so long as there is at least 5 years remaining on the Contracted Loan Term. Only monthly payments are available for Interest Only. # You can choose to pay Principal and Interest weekly, fortnightly, or monthly. ^ CommBank My Property won the 2019 ABA Winner for New Product Innovation in The Australian Brand Awards 2019. The primary credit card holder must be the same as the package holder for this benefit to apply. It cannot be established in the name of a business or family investment trust. The package can be established in the name of one or two individual’s name/s, or in the name of a corporate entity. A non-refundable annual fee of $395 is payable in advance. Eligible home loans include: Standard Variable Rate home loan, Fixed Rate home loans and Viridian Line of Credit. (principal and interest).ģ At the end of the fixed rate period, the interest rate converts to the applicable Standard Variable Rate relevant to your loan purpose and repayment type at that time, less any applicable package discount specified in your Loan Contract.Ĥ To apply for a Wealth Package, you must have an eligible home loan or line of credit with an initial package lending balance of at least $150,000 at the time of your application. (principal and interest) and the Extra Home Loan variable reference rate for Investment home loans is 6.38% p.a. Package lending balance is the sum of the account balance of eligible home lending accounts and the credit limit of Viridian Line of Credit accounts that you have with us at the time you apply for Wealth Package. Eligible home loans are limited to those accounts that can be included in the Wealth Package.Ģ As at 16 September 2022 the Extra Home Loan variable reference rate for Owner Occupied home loans is 6.03% p.a. 1 Package requires at least $150,000 in package lending balance, and an annual fee of $395 applies. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |