Discover how much you can could save by refinancing.
Have a look at this example.
Consider how much you could save by refinancing. For example, let’s say you currently have a $400,000 home loan with repayments of $933.694 per fortnight.
By switching to Beyond Bank’s 3-year fixed interest rate Total Home Loan Package^ at 2.29% p.a. (3.71% comparison rate*), your repayments could drop to $808.524 per fortnight. That’s a saving of $125 each fortnight during the fixed rate term!
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Interest rates are current as at 07/04/2020. Interest rates are subject to change without notice.
1 Break costs apply when more than $25,000 is made in additional repayments in one year.
2 Redraws and repayment holidays are subject to approval. Minimum redraw amount is $500. Fees applicable for manual redraws from loans. An amount equivalent to the next scheduled repayment for the loan cannot be redrawn from the in-advance amount.
3 Other upfront fees including valuation fees and government charges are payable.
4 Differences in repayments and savings over the life of the loan are calculated by comparing our 2.29% p.a. rate against an interest rate of 3.60% p.a. which is the average standard 3-year fixed home loan interest rate according to rate comparison site Finder (current as at 28/04/2020), on a loan amount of $400,000 repaid over 25 years.
^Total Home Loan Package 3-Year Fixed is available only to new qualifying loans applied for from 07/04/2020 that are secured against a single residential property for owner-occupied purposes (Parent Equity, Bridging, Building/Construction or Land Rent Scheme loans not available). Interest rate is available to new loan applications and are only available on new lending or when existing borrowers increase their loan amount by a minimum of $50,000 and the LVR is less than or equal to 80% at point of loan origination. Borrowers who acquired this loan before this date may have different eligibility, interest rate or product attributes. The Total Home Loan Package has an annual fee of $395.
*Comparison rates are based on a loan of $150,000 with monthly repayments over a term of 25 years. Warning: This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
We apply the discounted fixed rate on loan settlement date or the date the fixed rate period commences unless a rate lock applies. At the end of the fixed rate period, the interest rate will revert to the prevailing standard variable rate applicable at that time for the remainder of the loan term.
Terms, conditions, fees and charges apply; these will be provided at application or on request. Please review our Financial Services Guide (FSG) available on our website at www.beyondbank.com.au/disclosures, by calling us on 13 25 85 to request a copy or by visiting a branch. The FSG will be provided at the time of acquiring the product. Normal lending criteria applies.
This information has been provided without taking into account any of your objectives, financial situation or needs. You should consider whether it is suitable for your circumstances before acquiring this product. All loans are provided by Beyond Bank Australia Ltd ABN 15 087 651 143, AFSL/Australian Credit Licence 237856.