MyRate My Rate Fixed Loan
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90.00%
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Moneybuddy says
The MyRate Fixed Loan lets you budget confidently knowing that your interest rate is going nowhere. You can also split the loan into fixed and standard variable components. If you pay interest and principal amounts this will help save on interest and reduce the loan term.
The Basics
Interest type -
Headline interest rate -
Max LVR 90.00%
Annual fee -
The cool stuff: features
Draw down loan progressively Yes
Insurance details Yes - above 80%
Loan is Transferable Yes
Line of credit available No
Product suits Owner - Occupier
The Facts & Figures
Introductory rate -
Introductory term -
Interest rate 1 year -
Interest rate 2 years -
Interest rate 3 years -
Interest rate 4 years -
Interest rate 5 years -
Interest rate 7 years -
Interest rate 10 years -
Interest rate 15 years -
Comparison rate 1 year -
Comparison rate 2 years -
Comparison rate 3 years -
Comparison rate 4 years -
Comparison rate 5 years -
Comparison rate 7 years -
Comparison rate 10 years -
Comparison rate 15 years -
Comparison rate -
Minimum loan term 10 years
Maximum loan term 30 years
Min loan amount $100,000
Max loan amount $600,000
Early repayments Yes
Redraw facility No
Repayment holiday No
Ability to split loan Yes
Extra repayments Yes
Offset account available No
Interest only payments Yes
The ugly stuff: fees
Application fee $0
Valuation fee $0
Subsequent valuation fee -
Valuation fee details -
Discharge fee -
Discharge fee details -
Legal fee $0
Settlement fee $0
Redraw fee -
* Important note: All information provided by advertiser or taken from advertiser website and correct at time of publishing. If this information is incorrect, please contact us.
Pros
- Low fixed rate for 1 2 3 4 and 5 years
- Split loan option
- Loan portability
Cons
- Restrictions apply if interest only is paid
- No ATM
- chequebook
- credit card facility
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