Bank of Sydney Expect More PAYG Investment Home Loan Package

Rates and Fees verified correct on December 9th, 2016

Enjoy a competitive variable rate and minimal fees when you buy an investment property with the Bank of Sydney Expect More PAYG Investment Home Loan Package.

If you’re looking for a flexible investment loan that combines a host of money-saving benefits into one package, the Bank of Sydney Expect More PAYG Investment Home Loan Package could be the right loan for you. This investment loan offers a competitive variable rate and charges minimal fees, with no application fees, legal fees, valuation fees or ongoing fees to worry about.

The Bank of Sydney Expect More PAYG Investment Home Loan Package is available with principal and interest repayments, or interest-only repayments for a period of up to five years. You can borrow up to 80% of the property’s purchase price and make extra repayments to pay down your debt quicker. A 100% mortgage offset account is also included to help you minimise your interest repayments.

As the name suggests, the loan is only available to PAYG employees who have been in the same line of employment for at least one year. It’s also suited to investment borrowers only, and can only be taken out to purchase properties within Sydney, Melbourne and Adelaide Metro postcodes.

Interest Rate Max Insured LVR Max LVR
Variable Rate
3.98% p.a.
Comparison Rate
4.37% p.a.
80% 80%
1 Year Fixed
4.39% p.a.
Comparison Rate
4.68% p.a.
80% 80%
2 Years Fixed
4.44% p.a.
Comparison Rate
4.69% p.a.
80% 80%
3 Years Fixed
4.59% p.a.
Comparison Rate
4.75% p.a.
80% 80%
5 Years Fixed
4.69% p.a.
Comparison Rate
4.83% p.a.
80% 80%
Product NameBank of Sydney Expect More PAYG Investment Home Loan
Interest Rate TypeVariable or Fixed
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Loan PortableYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest or Interest Only Options
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$300

Pros

  • No application or ongoing fees.
  • 100% offset account.
  • Redraw facility.

Cons

  • Maximum LVR of $80.
  • There is $300 exit fee.

Features of the Bank of Sydney Expect More PAYG Investment Home Loan Package

The Bank of Sydney Expect More PAYG Investment Home Loan Package includes the following features:

  • Loan amount. The Bank of Sydney Expect More PAYG Investment Home Loan Package is available for loans of $100,000 or more.
  • Maximum LVR. This loan allows you to borrow up to 80% LVR.
  • Investment borrowers only. The Bank of Sydney Expect More PAYG Investment Home Loan Package is only available for investment purchases, not owner-occupied purchases.
  • PAYG employees. In order to qualify for this loan package you will need to be a PAYG employee and have been in the same line of work for at least the past year. You will also need to be purchasing a property with a Sydney, Melbourne or Adelaide Metro postcode.
  • Repayment options. You can make weekly, fortnightly or monthly repayments to pay off your investment loan. Principal and interest repayments are available, or you can opt for interest-only repayments for a period of up to five years. Additional repayments are also allowed to help you pay down your loan quicker.
  • Redraw facility. You can access the additional repayments you make towards your Bank of Sydney Expect More PAYG Investment Home Loan Package through the loan’s redraw facility. The minimum redraw amount is $2,000.
  • Offset account. The loan also features a 100% mortgage offset account. This account can be used to help you manage your everyday banking but will also allow you to reduce the amount of interest payable on your loan.
  • Credit card with no annual fee. Approved applicants will also qualify for a credit card with no annual fee and a pre-approved credit limit of $5,000.
  • Loan portability. Instead of refinancing, the Bank of Sydney Expect More PAYG Investment Home Loan Package can be taken with you when you purchase a new property.

Fees

There are no ongoing, application or other upfront fees with this loan but there are some fees that you may be asked to pay:

  • Exit fee: $300. This fee must be paid when your loan is discharged.

What you’ll need to know before applying

If you think the Bank of Sydney Expect More PAYG Investment Home Loan Package sounds like it could be the right loan for you, click on one of the “Apply now” links on this page. You will be taken to the Bank of Sydney website where you can find out more about the loan and also request a callback.

You’ll need to provide:

  • Your full name
  • Your email address and phone number
  • Your preferred contact method and time
  • How you heard about Bank of Sydney
  • Loan details, including the amount required and the house value
  • Your employment status

You will then be contacted by a Bank of Sydney representative at the time you specify to discuss your borrowing needs. If you choose to apply for the loan, you will then have to provide a range of information, including:

  • Proof of ID. This may include your driver’s licence, passport and Medicare card.
  • Proof of income and employment. You’ll need proof of your employment status and bank account statements that show your income.
  • Details of your assets and liabilities. The lender will require information about the assets you own and any outstanding debts you have so it can determine your repayment capacity.

If you’re looking for an investment loan with a host of competitive features, make sure to compare the Bank of Sydney Expect More PAYG Investment Home Loan Package with other similar products at finder.com.au.


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Bank of Sydney Expect More PAYG Investment Home Loan Package Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 30 September 2016 at 13:53.

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Bank of Sydney Expect More PAYG Investment Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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