Category: Overdrafts Last Updated December 5, 2023 Effective May 3, 2024
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied Interest Only product. Additional Information Reverse Mortgage Home Loan (<=15% LVR)
Interest Rate 8.80% PA
Comparison Rate 8.88%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. 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.
Product Features
Card AccessAdditional Information: Link a Gateway Visa Card, giving you the freedom of EFTPOS and ATMs across Australia
Digital BankingAdditional Information: Access is available to online banking features for the product
Unlimited TxnsAdditional Information: Unlimited extra repayments
Product Eligibility
Min Age - 18.
Bank Fees and Charges
Settlement Fee (Upfront), Amount: 995.00. Additional Information: Settlement Fee includes application, legal and standard valuation fees (if property valued under $1m in metro locations and $500k in regional
locations with a maximum land area of 2.2ha/5acres)
Any additional valuation costs incurred for a non-standard property is payable in addition to the Settlement Fee
Top-up Fee (Event), Amount: 200.00. Additional Information: Payable at settlement when increasing loan borrowings
Security Variation (Event), Amount: 200.00. Additional Information: Payable if Gateway agrees to vary the security on an existing loan
Discharge Fee - First Security (Exit), Amount: 300.00. Additional Information: Discharge Fee - First Security
Discharge Fee - Per Additional Security (Exit), Amount: 95.00. Additional Information: Discharge Fee - Per Additional Security
Valuation Fee (Upfront), Amount: 0.00. Additional Information: This fee may be payable at cost if the mortgaged property is valued at over $1 million in metropolitan locations and over $500,000 in regional locations
Additional Valuation Fee (Event), Amount: 0.00. Additional Information: Payable at cost if we or you decide to obtain an additional valuation report (which we may do at any time)
Additional Repayment Fee (Transaction), Amount: 0.00. Additional Information: Ongoing Repayments are optional, and you may repay the loan at any time. Nil for Reverse Mortgages.
Monthly Account Fee (Periodic), Amount: 0.00. Additional Information: No ongoing monthly fee. Nil for Reverse Mortgages.
