Honeymoon, Discount or Introductory rate Home Loan
As the name suggests, a ‘Honeymoon’ or ‘Discount’ rate refers to the initial introductory period of the home loan. It is usually offered over a 6 or 12 month period for new borrowings and after the introductory period, will then revert back to the Standard Variable Rate applicable at the time.
Features and Benefits
Loan Purpose
• Owner Occupied Housing and investment including purchase of vacant land
• Construction
• Refinance including debt consolidation
• Personal and investment purposes
• Off the Plan purchases
Features
• Weekly, fortnightly or monthly repayments
• Repayment Redraw
• Lump sum repayments are allowed
• Portability
• Lower interest rate during the ‘introductory’ period
• Mortgage offset facility
Benefits
• Interest calculated daily and charged monthly
• Switch to a fixed interest rate at any time
• Save money on not paying extra for unwanted features
• Repay your home loan off faster
• Structure repayments weekly, fortnightly or monthly
• Reduce monthly payments with a loan term up to 30 years.
• Make additional repayments to pay off the loan sooner and save on interest
• Repayment Redraw (re-borrow payments in advance back off the home loan)
• Payment methods via Internet Banking, Telephone Banking, ATMs, EFTPOS and Branches.
• Portability – move your home loan to your next home purchase
• Interest Only - make interest only payments for a period of 1, 2, 3, 5, 7, 10 or 15 years.
• Repayments can be automatically deducted from any nominated banking account
At a Glance
• Minimum – $10,000
• Maximum – No Maximum
• Term – up to 30 years
• Lower interest rates
• Lower ongoing fees
