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Great Rate Home Loan - Fixed 1 Year Interest Only Investment

Basic home loan
Category: Home Loans  Last Updated May 27, 2021  Effective July 1, 2020

 General Lending Rates

Rates listed below are for a FIXED INVESTMENT INTEREST_ONLY. Additional Information
Interest Rate
2.29%PA
Comparison Rate
3.9%PA*
Product rates will vary depending upon your financial position. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

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 Product Features

  • Redraw Additional Information: Fee free redraw via Online Banking. $30 fee for over the counter redraw.
  • Digital Banking
  • Notifications Additional Information: Receive notification from bank of your nominated transactions (e.g. low account balance warning; credits over $500)

 Product Eligibility

  • Min Age - 18.
  • Residency Status - Australian Residents Only.
  • Natural Person
  • Other Additional Information: Must be identifiable in terms of legislative requirements. Lending criteria apply.

 Bank Fees and Charges

  • Information Fee - Search (Event), Amount: 20. Additional Information: $20.00 plus $1.00 per page
  • Information Fee - Per Page (Event), Amount: 1. Additional Information: $20.00 plus $1.00 per page
  • Bank Transfer Fee (Transaction), Amount: 8.
  • Foreign Currency Deposit Fee (Transaction), Amount: 5.
  • Redraw Over-the-counter Fee (Withdrawal), Amount: 30. Additional Information: Each time you re-borrow money by making written application to any branch of Greater Bank Ltd.
  • Redraw Online Banking Fee (Withdrawal), Amount: 0.
  • Establishment Fee (Upfront), Amount: 500. Additional Information: $500.00 based on one security plus $250.00 for each additional security. For each additional amount approved during the loan term, $350.00 based on one security plus $250.00 for each additional security.
  • Administration Fee (Event), Amount: 350. Additional Information: Payable when we consent to any subdivision, lease, discharge, partial discharge, change of name, release of a Security, changing a policy of lenders mortgage insurance, creation of subsequent Security Interest or any dealing in relation to a Security.
  • Break Costs (Exit), Amount: 0. Additional Information: A break cost fee will be charged if we estimate we will make an economic loss as a result of the payout or a break from the fixed term
  • Conversion Fee - Switch To A Basic/great Rate Or Ultimate Home Loan (Event), Amount: 500. Additional Information: $500 fee payable when you ask us to switch your loan to a Basic/Great Rate or Ultimate Home Loan.
  • Conversion Fee - Switch To Any Other Loan Type (Event), Amount: 350. Additional Information: $350 to convert, for example between a variable to a fixed loan or between principal & interest to interest only.
  • Default Administration Fee (Event), Amount: 50. Additional Information: In default by an amount that is less than 2 repayments $20.00, otherwise $50.00.
  • Default Notice Fee (Event), Amount: 50. Additional Information: Payable when we send you a notice informing you of a default under this contract
  • Discharge Administration Fee (Exit), Amount: 300. Additional Information: A Discharge Administration fee is payable when you request us to close your loan account, or produce title deeds at settlement. If Greater Bank incurs any costs associated when doing this, the cost will also be passed on to you.
  • Government Charges (Upfront), Amount: 0. Additional Information: Charges will be variable, calculated if and when applicable. These charges include Withholding Tax, Registration Fees on security documents and Stamp Duty. For Contracts Regulated by the National Credit Code, the only fees and charges that are payable are those set out in that contract (as varied from time to time).
  • Guarantee Fee (Upfront), Amount: 200. Additional Information: Payable for each guarantee provided
  • Law Stationers Fee (Event), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. Payable when a third party agent acts for or otherwise assists us in relation to (including when we request information in respect of a security or any other matter in connection with) your contract with us or a security.
  • Legal Fee (Event), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. Payable when (or after) we make the amount of credit available to you for any costs and disbursements we have to pay a solicitor or conveyancer for acting for us in relation to this loan
  • Mercantile Agents Fee (Event), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. Payable when we instruct a mercantile agent to contact you on our behalf in relation to this loan or a security.
  • Mortgage Insurance Premium Fee (Upfront), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. The amount charged by our mortgage insurer for a lenders mortgage insurance policy.
  • Prepayment Fee (Event), Amount: 0. Additional Information: The prepayment fee is charged if we estimate we will make an economic loss as a result of extra repayments during a fixed rate term.
  • Registration Fee (Event), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. Payable when we register any documents in relation to a security.
  • Property Exchange Australia (pexa) Transaction Fee (Upfront), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. Payable when we have to register any documents in relation to a security using PEXA, request information using PEXA, or we process a financial settlement using PEXA. Fees are applied as charged by PEXA
  • Security Substitution Fee (Event), Amount: 350. Additional Information: Payable when you ask us to substitute a security
  • Settlement Processing Fee (Upfront), Amount: 180.
  • Title Insurance Premium (Event), Amount: 0. Additional Information: Fee amount will be variable, calculated if and when applicable. The amount charged by our title insurer for a lenders title insurance policy.

 Limitations & Restrictions (Constraints)

  • Min Limit of 30000

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