Greater Bank Great Rate Fixed Rate Home Loan

Rates and Fees verified correct on December 6th, 2016

Don’t pay for features you don’t want with the Great Rate Fixed Rate Home Loan

The Great Rate Home Loan is a basic home loan without monthly or annual fees and with the Fixed Rate loan there is a range of fixed rates so you can lock in a rate for a time period you feel comfortable with.

It doesn’t come with expensive features or fees like some home loans, so you can focus on paying your loan off.

Interest Rate Max Insured LVR Max LVR
Discounted 1 Year Fixed ($150K+ Owner Occupier)
3.79% p.a.
Comparison Rate
4.24% p.a.
85% 80%
1 Year Fixed (Investor)
3.99% p.a.
Comparison Rate
4.40% p.a.
95% 80%
1 Year Fixed (Owner Occupier)
3.99% p.a.
Comparison Rate
4.26% p.a.
95% 80%
Discounted 1 Year Fixed ($150K+ Investor)
3.79% p.a.
Comparison Rate
4.38% p.a.
85% 80%
Discounted 2 Year Fixed ($150K+ Owner Occupier)
3.94% p.a.
Comparison Rate
4.23% p.a.
85% 80%
Discounted 2 Year Fixed ($150K+ Investor)
3.94% p.a.
Comparison Rate
4.35% p.a.
85% 80%
2 Year Fixed (Investor)
4.14% p.a.
Comparison Rate
4.39% p.a.
95% 80%
2 Year Fixed (Owner Occupier)
4.14% p.a.
Comparison Rate
4.26% p.a.
95% 80%
Discounted 3 Year Fixed ($150K+ Investor)
4.09% p.a.
Comparison Rate
4.35% p.a.
85% 80%
Discounted 3 Year Fixed ($150K+ Owner Occupier)
3.99% p.a.
Comparison Rate
4.21% p.a.
85% 80%
3 Year Fixed (Investor)
4.29% p.a.
Comparison Rate
4.40% p.a.
95% 80%
3 Year Fixed (Owner Occupier)
4.19% p.a.
Comparison Rate
4.26% p.a.
95% 80%
Discounted 4 Year Fixed ($150K+ Investor)
4.29% p.a.
Comparison Rate
4.39% p.a.
85% 80%
Discounted 4 Year Fixed ($150K+ Owner Occupier)
4.19% p.a.
Comparison Rate
4.26% p.a.
85% 80%
4 Year Fixed (Owner Occupier)
4.39% p.a.
Comparison Rate
4.32% p.a.
95% 80%
4 Year Fixed (Investor)
4.49% p.a.
Comparison Rate
4.46% p.a.
95% 80%
Discounted 5 Year Fixed ($150K+ Owner Occupier)
4.19% p.a.
Comparison Rate
4.25% p.a.
85% 80%
5 Year Fixed (Owner Occupier)
4.39% p.a.
Comparison Rate
4.33% p.a.
95% 80%
5 Year Fixed (Investor)
4.49% p.a.
Comparison Rate
4.46% p.a.
95% 80%
Discounted 5 Year Fixed ($150K+ Investor)
4.29% p.a.
Comparison Rate
4.38% p.a.
85% 80%
Product NameGreater Bank Great Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$10,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR85%
Mortgage Offset AccountYes
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Pros

  • High maximum LVR of 85%
  • Redraw facility
  • No monthly or annual fees

Cons

  • No offset account

Things to consider about Greater Bank Great Rate Fixed Rate Home Loan

This home loan is a full documentation home loan, meaning it requires you to submit the full range of documents to verify your income, assets and debts. If you’re a self-employed borrower you might want to compare low doc home loans.

This loan is offered to owner occupiers purchasing or refinancing their homes, or to investors looking to buy an investment property or refinance an existing loan they have.

Because it’s a fixed rate home loan, the Great Rate Fixed Rate Home Loan will have break costs which will be charged if you try to leave the loan before the fixed rate period ends, so it might not be suitable if you’re looking to sell your home during the fixed rate period.

Features of Greater Bank Great Rate Fixed Rate Home Loan

  • Low fees. The Great Rate Home Loan has no monthly or annual fees, so you don’t have to worry about any savings you get from the competitive interest rates being eaten up by expensive charges.
  • High maximum LVR. You can borrow up to 85% of the property’s value with this home loan, so you can purchase a property with as little as a 5% deposit. Keep in mind that borrowing over 80% will come with Lender’s Mortgage Insurance (LMI) fees.
  • Flexible repayments. You can choose to make your loan repayments weekly, fortnightly or monthly. This means you can pay at a pace which suits your lifestyle and the payment cycle of your employer.
  • Interest only repayment options. You can choose to pay only the interest portion of your repayments with this loan, which can come with tax benefits if you’re an investor. Note that making interest only payments rather than principal and interest repayments will not see your loan amount reduced. Interest only repayments can be made on this home loan for 5 years, and up to a maximum 10 years total.
  • Make extra repayments to pay your loan faster. You can make additional repayments of up to 5% of the loan balance on this loan without attracting fees.
  • Redraw facility. You can redraw any extra repayments for free through your online banking. This gives you the flexibility to make extra repayments on your home loan and access them later if you want to go on a holiday or pay for unexpected costs or bills for example.

Fees of the Great Rate Home Loan

  • Monthly fee. $0. There are no monthly fees charged as part of this loan.
  • Annual fee. $0. There are no annual service fees charged by Greater Bank for this loan.
  • Application fee. $0. This fee is usually $500, but is waived for a limited time.

How to apply for Greater Bank Great Rate Home Loan

If you decide to lodge an enquiry for this home loan, Greater Bank will want some basic contact information to help you, including your phone number, suburb, state and potential loan amount.

When applying for a home loan with Greater Bank you’ll need to provide them with information about your income, assets and debts. This will help them decide whether or not you can afford and pay back this loan.

Greater Bank Great Rate Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 2 May 2016 at 8:52.

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Greater Bank Great Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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