Gateway Bank Premium Package Home Loan

For a home loan package that offers discounts across multiple financial products, check out the Gateway Bank Premium Package Home Loan.

The Gateway Bank Premium Package Home Loan offers discounts on Gateway Bank’s standard variable and fixed rates, as well as fee waivers and special offers on other Gateway Bank products in exchange for an annual package fee.

Interest Rate Max Insured LVR Max LVR
Variable LVR < 80% (Investor P&I)
4.19% p.a.
Comparison Rate
4.50% p.a.
80% 80%
Variable LVR < 80% (Investor IO)
4.49% p.a.
Comparison Rate
4.79% p.a.
80% 80%
Variable LVR 80% to 85% (Investor IO)
5.56% p.a.
Comparison Rate
5.85% p.a.
85% 80%
Variable LVR 80% to 85% (Investor P&I)
4.38% p.a.
Comparison Rate
4.69% p.a.
80% 80%
Variable Special offer LVR 85% to 95% (Owner Occupier P&I)
3.89% p.a.
Comparison Rate
4.20% p.a.
95% 80%
Variable Special offer LVR 80% to 85% (Owner Occupier P&I)
3.74% p.a.
Comparison Rate
4.06% p.a.
85% 80%
Variable Special offer LVR < 80% (Owner Occupier P&I)
3.74% p.a.
Comparison Rate
4.06% p.a.
80% 80%
Variable LVR 85% to 90% (Investor P&I)
4.38% p.a.
Comparison Rate
4.69% p.a.
90% 80%
Special Promo Rate Variable up to 80% (Owner Occupier P&I)
3.74% p.a.
Comparison Rate
4.06% p.a.
80% 80%
Special offer LVR 80% to 85% (Investor IO)
5.02% p.a.
Comparison Rate
5.32% p.a.
85% 80%
5 Year Fixed (Investor, IO)
4.59% p.a.
Comparison Rate
5.28% p.a.
95% 80%
Variable LVR 85% to 90% (Investor IO)
6.12% p.a.
Comparison Rate
6.40% p.a.
90% 85%
1 Year Fixed (Owner Occupier P&I)
3.77% p.a.
Comparison Rate
4.80% p.a.
95% 80%
1 Year Fixed (Investor, IO)
4.52% p.a.
Comparison Rate
5.49% p.a.
95% 80%
Special offer LVR 85% to 90% (Investor IO)
5.02% p.a.
Comparison Rate
5.32% p.a.
90% 85%
2 Years Fixed (Owner Occupier P&I)
3.8% p.a.
Comparison Rate
4.73% p.a.
95% 80%
2 Year Fixed (Investor, IO)
4.55% p.a.
Comparison Rate
5.43% p.a.
90% 80%
3 Year Fixed (Investor, IO)
4.58% p.a.
Comparison Rate
5.38% p.a.
90% 80%
3 Years Fixed (Owner Occupier P&I)
3.83% p.a.
Comparison Rate
4.68% p.a.
95% 80%
5 Year Fixed (Owner Occupier P&I)
4.21% p.a.
Comparison Rate
4.72% p.a.
95% 80%
Product NameGateway Bank Premium Package Home Loan
Interest Rate TypeVariable or Fixed
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$2,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Ongoing Fees$299 p.a.
Discharge Fee$300

Pros

  • 100% offset account on variable rates
  • No application fee
  • Bonus interest rates on term deposits and discounts
  • High maximum LVR

Cons

  • Annual fee of $299

Factors to consider before taking out the Gateway Bank Premium Package Home Loan

This loan is available for both investors and owner occupiers. Gateway Bank’s variable or fixed rate loans can be packaged, or the package can be split between fixed and variable portions. There are no establishment fees charged with this loan. In exchange for a $299 annual package fee, package members receive discounts on Gateway Bank’s variable and fixed rates, along with a bonus on term deposits and discounts on insurance products.

Features of the Gateway Bank Premium Package Home Loan

  • Loan amount and term. You can borrow a minimum loan amount of $150,000 with this loan and the maximum loan term is 30 years. There is no maximum borrowing amount.
  • Loan-to-value ratio (LVR). You can borrow up to 95% LVR. However, if you borrow more than 80% LVR, you will have to pay for lenders mortgage insurance (LMI). Also, lower LVRs attract bigger interest rate discounts.
  • Interest rate discounts. Package members receive discounts on Gateway Bank’s standard variable rates and fixed rates. For variable rates, the size of the discount depends on the LVR, and for fixed rates, it depends on the fixed rate term.
  • Rate lock. You can lock in the rate available at the time of your application for up to 90 days. However, this attracts a fee of 0.15% of the locked amount.
  • Bonuses on other Gateway Bank products. Package members receive a 0.10% bonus on term deposit rates and discounts on CGU Insurance products.
  • Additional repayments and redraw facility. The Gateway Bank Premium Package Home Loan allows variable rate customers to make unlimited additional repayments without penalty. You can access any additional funds using the loan’s redraw facility. However, there is a redraw minimum of $500.
  • 100% offset account. This home loan comes with a 100% offset account, but this feature is only available on variable rate loans. An offset account allows you to reduce the amount of interest you pay by offsetting the interest calculated by the amount of funds in the account.
  • Split facility. The Gateway Bank Premium Package Home Loan offers the option to split your loan into fixed and variable rate portions.

Fees

Below are some of the fees you may be charged:

  • Annual package fee: $299. In exchange for this annual package fee, package members receive discounts across a variety of products.
  • Discharge fee: $300. This fee is charged when you discharge your home loan.

How to apply for the Gateway Bank Premium Package Home Loan

If you think the Gateway Bank Premium Package Home Loan might be right for you, click the link below or fill out the form for more information. When you apply for the loan, you’ll need to provide:

  • Personal details. You’ll need to provide your name, address, date of birth and contact info.
  • Property details. Gateway Bank will want the details of the property that you’re looking to purchase, as well as the loan amount that you’ll be applying for.
  • Information about your income and expenses. You’ll have to provide the details of your income, your assets and liabilities, along with the details of your employment.

The Gateway Bank Premium Package Home Loan offers a range of features and discounts and may be worth considering in your search for a home loan.


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2 Responses

  1. Default Gravatar
    vickiAugust 16, 2017

    We have $20,000 deposit on a block of land we want to purchase which is $245,000. Is this enough deposit? I realize the LMI and costs have to come out of this also

    • Staff
      LiezlAugust 18, 2017Staff

      Hi Vicki,

      Thanks for your question.

      Generally, the bank will require 20% deposit hence, the amount you mentioned won’t suffice for the loan amount you intend to take. In case you won’t be able to come up with the required deposit, the lender might ask for an LMI. You might find our LMI guide here helpful. You may click the green, “Enquire Now” button above or contact the lender directly to get more information on this home loan.

      Cheers,
      Liezl

Gateway Bank Premium Package Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $299

  • Max LVR

    80%

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