ClickLoans Online Variable Home Loan (low deposit)

Rates and Fees verified correct on December 6th, 2016

With a low variable rate and no ongoing fees, the ClickLoans Online Variable Home Loan (low deposit) is worth considering

With a low variable rate of 4.17% p.a., the ClickLoans Online Variable Home Loan (low deposit) offers borrowers several attractive features such as a redraw facility, a linked offset account and no ongoing fees which are designed to help you free yourself from debt sooner.

Interest Rate Max Insured LVR Max LVR
Variable
4.17% p.a.
Comparison Rate
4.17% p.a.
95% 80%
Product NameClickLoans The Online Home Loan (Low Deposit)
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$650,000
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$0
Ongoing Fees$0 p.a.
Discharge Fee$250

Pros

  • Borrow up to 95% LVR
  • No ongoing monthly or annual fees
  • Free offset account
  • Redraw facility

Cons

  • Can only borrow up to $650000
  • Application fee of $0
  • No weekly payment options

Things to consider about the ClickLoans Online Variable Home Loan (low deposit)

The ClickLoans Online Variable Home Loan (low deposit) is available for owner-occupiers for the purchase of residential property. Available with a maximum loan-to-value (LVR) ratio of 95%, this loan allows you to make extra repayments without penalty so you can repay your mortgage as quickly as possible.

With the option of making fortnightly or monthly repayments, the Online Variable Home Loan (low deposit) from ClickLoans comes with a free redraw facility and an offset account which can help you minimise your interest payable over the loan term.

Keep in mind that only principal and interest repayments can be made with this product, and it is not available for investors.

Features of the ClickLoans Online Variable Home Loan (low doc)

  • Maximum loan amount. The maximum amount you can borrow with the ClickLoans Online Variable Home Loan (low deposit) is $650,000, while the minimum loan amount is $100,000.
  • Maximum LVR. The maximum LVR on this loan is 95% which means you don’t have to worry about coming up with a large deposit. Note that borrowing over 80% will come with Lender’s Mortgage Insurance (LMI) charges.
  • Redraw facility. You can access any additional repayments that you’ve made towards your loan through a free redraw facility which provides you with flexibility to manage your funds.
  • Repayment flexibility. With the ClickLoans Online Variable Home Loan (low deposit) you can choose from either fortnightly or monthly repayments to suit your budget.
  • Extra repayments. You can make extra repayments at any time without penalty which can help you to repay your loan sooner.
  • Offset account. This loan comes with a free linked offset account which can help you reduce the amount of interest payable over the life of the loan.

Fees

Fees you can avoid

  • Ongoing fees: $0. There are no ongoing fees charged for this home loan which means you can focus on meeting your periodic repayments.

Fees you can’t avoid

  • Upfront fees: $0. This fee is paid to cover the legal and administrative costs associated with organising your home loan.
  • Discharge fee: $250. The discharge fee covers the cost of preparing your loan discharge documents.

How to apply for the ClickLoans Online Variable Home Loan (low deposit)

If you think the ClickLoans Online Variable Home Loan (low deposit) is right for you, click on the ‘enquire now’ button to be redirected to the ClickLoans website where you can enquire about this home loan and speak with a ClickLoans representative about your borrowing needs.

To be eligible for the ClickLoans Online Variable Home Loan (low deposit), you’ll need to be an Australian citizen or a permanent resident for tax purposes.

When applying for this loan, you’ll need to supply:

  • Your name, address, date of birth and contact details
  • Your employment information and proof of income
  • Details of any assets you own
  • Details of any liabilities you have

The ClickLoans Online Variable Home Loan (low deposit) offers low interest of 4.17% p.a. and comes with helpful features including the ability to make extra repayments without penalty, a linked offset account and no ongoing fees. Before you apply for this loan, make sure you’ve done your research and compared several loans to ensure that you make the right choice.

ClickLoans Online Variable Home Loan (low deposit) Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 26 February 2016 at 14:04.

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ClickLoans The Online Home Loan (Low Deposit)

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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