MyRate All in One Line of Credit
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90.00%
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Moneybuddy says
The MyRate All-in-One Line of Credit lets you use the value of your property as collateral to borrow cash. You can use this money for anything that may crop up from time to time such as the birth of a child, or your children's education. Deposit your salary directly into the account and save on interest. Enjoy no application or monthly fees and make additional repayments when you have the cash.
The Basics
Interest type -
Headline interest rate -
Max LVR 90.00%
Annual fee -
The cool stuff: features
Draw down loan progressively -
Insurance details -
Loan is Transferable Yes
Line of credit available Yes
Product suits -
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 -
Maximum loan term -
Min loan amount $100,000
Max loan amount $2,000,000
Early repayments No
Redraw facility No
Repayment holiday No
Ability to split loan Yes
Extra repayments No
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
- Only may interest on what you spend
- No initial fees
- Redraw cash whenever you need to
Cons
- Higher interest rate
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