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my rate fixed loan
My Rate Fixed Loan by MyRate
My Rate Fixed Loan
Institution : MyRateTheir Blurb
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Our View
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.
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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MyRate Product Types
| The Facts & Figures | |
|---|---|
| Min Loan Amount | $ 100000.00 |
| Repayment Holiday | No |
| Introductory Term | - |
| Max Loan Amount | $ 600000.00 |
| Ability to Split Loan | Yes |
| Max LVR | 97.00 % |
| Loan Type | Fixed rate loan |
| Extra Repayments | Yes |
| Minimum Loan Term | 10.00 years |
| Early repayments | Yes |
| Offset Account Available | No |
| Maximum Loan Term | 30.00 years |
| Redraw Facility | No |
| Special offers | - |
| The cool stuff: features | |
| Settlemet Fee | 0.00 |
| Redraw fee | - |
| Application Fee | $ 0.00 |
| Interest only Payments | Yes |
| Administration Fee (monthly) | $ 0.00 |
| Draw Down Loan Progressively | Yes |
| Valuation Fee | 0.00 |
| Loan is Transferable | Yes |
| Legal Fee | 0.00 |
| Line of Credit Available | No |
| Required Insurance | Yes - above 80% |
