Greater Bank Ultimate Fixed Rate Home Loan

Rates and Fees verified correct on September 24th, 2016

Enjoy a discounted fixed rate and discounts on a range of products with Greater Bank’s Ultimate Home Loan

The Ultimate Home Loan takes a range of competitive features from Greater Bank’s other loans and rolls them all into one package. This loan offers a competitive fixed interest rate and discounts on other Greater Bank products and fees.

There are no monthly fees, and customers can enjoy other perks such as insurance discounts, a fee-free transaction account and a credit card with waived annual fee.

Greater Bank also offer a range of variable rate home loans.

Note that to be eligible for this loan you must be a NSW or QLD resident.

Interest Rate Max Insured LVR Max LVR
Discounted 1 Year Fixed ($150K+ Owner Occupier)
3.59% p.a.
Comparison Rate
4.42% p.a.
85% 80%
Discounted 1 Year Fixed ($150K+ Investor)
3.59% p.a.
Comparison Rate
4.55% p.a.
85% 80%
1 Year Fixed (Investor)
3.79% p.a.
Comparison Rate
4.57% p.a.
95% 80%
1 Year Fixed (Owner Occupier)
3.79% p.a.
Comparison Rate
4.43% p.a.
95% 80%
Discounted 2 Year Fixed ($150K+ Investor)
3.74% p.a.
Comparison Rate
4.52% p.a.
85% 80%
2 Year Fixed (Owner Occupier)
3.94% p.a.
Comparison Rate
4.43% p.a.
95% 80%
2 Year Fixed (Investor)
3.94% p.a.
Comparison Rate
4.55% p.a.
95% 80%
Discounted 2 Year Fixed ($150K+ Owner Occupier)
3.74% p.a.
Comparison Rate
4.40% p.a.
85% 80%
3 Year Fixed (Owner Occupier)
3.98% p.a.
Comparison Rate
4.43% p.a.
95% 80%
3 Year Fixed (Investor)
3.98% p.a.
Comparison Rate
4.54% p.a.
95% 80%
Discounted 3 Year Fixed ($150K+ Owner Occupier)
3.78% p.a.
Comparison Rate
4.38% p.a.
85% 80%
Discounted 3 Year Fixed ($150K+ Investor)
3.78% p.a.
Comparison Rate
4.49% p.a.
85% 80%
4 Year Fixed (Owner Occupier)
3.94% p.a.
Comparison Rate
4.41% p.a.
95% 80%
4 Year Fixed (Investor)
3.94% p.a.
Comparison Rate
4.51% p.a.
95% 80%
Discounted 4 Year Fixed ($150K+ Investor)
3.74% p.a.
Comparison Rate
4.44% p.a.
85% 80%
Discounted 4 Year Fixed ($150K+ Owner Occupier)
3.74% p.a.
Comparison Rate
4.34% p.a.
85% 80%
Discounted 5 Year Fixed ($150K+ Owner Occupier)
3.74% p.a.
Comparison Rate
4.32% p.a.
85% 80%
Discounted 5 Year Fixed ($150K+ Investor)
3.74% p.a.
Comparison Rate
4.41% p.a.
85% 80%
5 Year Fixed (Owner Occupier)
3.94% p.a.
Comparison Rate
4.40% p.a.
95% 80%
5 Year Fixed (Investor)
3.94% p.a.
Comparison Rate
4.49% p.a.
95% 80%
Product NameGreater Bank Ultimate Fixed Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR85%
Mortgage Offset AccountNo
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

Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$375 p.a.
Settlement Fee$180
Discharge Fee$0

Pros
  • Free internet redraws
  • High maximum LVR of 85%
Cons
  • Annual service fee of $375
  • Settlement fee of $180

Things to consider about the Fixed Ultimate Home Loan

There are no ongoing monthly fees and no application fees with this loan, though a $375 annual fee does apply. Borrowers can choose from principal and interest or interest-only repayment options, and they can also enjoy the flexibility of paying the loan off weekly, fortnightly or monthly. It’s important to note that this loan isn’t available to low doc borrowers - it requires full documentation.

Features of the Fixed Ultimate Home Loan

  • Minimum loan amount. The minimum amount you can borrow with a Fixed Ultimate Home Loan is $150,000.
  • Loan term. The maximum loan term available for this product is 30 years.
  • Maximum LVR. This loan lets you borrow up to 85% of the value of the property being purchased.
  • Flexible repayment options. Borrowers can choose from principal and interest or interest-only repayment options, while you can choose to pay off your loan weekly, fortnightly or monthly. You also have the ability to make extra repayments.
  • Free redraw. A free Internet redraw facility is available with this loan to give you access to the additional repayments you've made when you need them.
  • Insurance discounts. Customers who take out this loan package can enjoy discounts on the first-year premiums of a building, contents, landlords or motor vehicle insurance policy they take out through Greater Bank.
  • Other benefits. The Fixed Ultimate Home Loan package also includes a fee-free Ultimate Access account for everyday transactions, plus a linked Greater Bank Visa Card with no annual fee.

Fees

Fees you can avoid

  • Application fee: $0
  • Monthly fees: $0
  • Transaction account fees: $0
  • Linked Greater Visa Credit Card annual fee: $0
  • Prepayment fee. The amount you will be charged for making extra repayments or paying off your loan early will be based on Greater’s estimate of its loss as a result of the prepayment.

Fees you can’t avoid

  • Annual fee. The Fixed Ultimate Home Loan attracts an annual fee of $375 for ongoing account maintenance.
  • Settlement fee. This loan has a settlement fee of $180 to cover the cost of Greater organising the settlement of your loan funds.
  • Title Insurance Fee. A $95 fee applies.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

How to apply for the Fixed Ultimate Home Loan

If you’ve compared your borrowing options and decided this is the right loan for you, click ‘Go to Site’ to begin the application process. In order to be eligible for this loan you’ll need to be 18 years or older and have a good credit rating. It’s also a requirement that you are an Australian citizen or a permanent Australian resident.

The amount you will be eligible to borrow will be based on your financial situation. In order for Greater to assess your application, you’ll need to provide the following information:

  • Personal details including your name, address and contact details
  • The name and contact details of your employer
  • Financial information including details of your income, assets and liabilities

The Fixed Ultimate Home Loan from Greater offers a competitive lending option for potential borrowers. However, make sure to compare a range of home loans before deciding which one is the best for your situation.

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

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This page was last modified on 10 May 2016 at 14:33.

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15 Responses to Greater Bank Ultimate Fixed Rate Home Loan

  1. Default Gravatar
    Jane | March 16, 2016

    Who does the Greater Building Society use for Lenders Mortgage Insurance?

    • Staff
      Belinda | March 17, 2016

      Hi Jane,

      That’s a great question.

      I can confirm that Greater Building Society use QBE Insurance as their lender’s mortgage insurance (LMI) provider.

      Thanks,
      Belinda

  2. Staff
    Belinda | September 10, 2015

    Hi Farkookneebah,

    Thanks for your enquiry.

    On this page and this page you can learn more about home loans for pensioners and you can enquire with a mortgage broker who can draw upon their panel of lenders to find a lender that’s more inclined to review your application, given that you’re receiving a Centrelink benefit.

    With the disability support pension, you may need to provide the lender with evidence of a secondary source of income to show that you’ll be able to meet your repayments.

    Please note that lenders may take a more conservative approach if you are looking to purchase country property or vacant land and in these cases, you may need to complete a larger deposit.

    Your best course of action would be to consult a mortgage broker to discuss your borrowing options.

    Thanks,
    Belinda

  3. Default Gravatar
    Farkookneebah | September 9, 2015

    Hi
    I am on DSP centrelink
    Everytime i use the calculator
    It shows i can afford 100k over 15 years My questions are who lends to pensioners ? For country property?
    Thanks Farkookneebah

    • Staff
      Belinda | September 10, 2015

      Hi Farkookneebah,

      Thanks for your enquiry.

      On this page and this page you can learn more about home loans for pensioners and you can enquire with a mortgage broker who can draw upon their panel of lenders to find a lender that’s more inclined to review your application, given that you’re receiving a Centrelink benefit.

      With the disability support pension, you may need to provide the lender with evidence of a secondary source of income to show that you’ll be able to meet your repayments.

      Please note that lenders may take a more conservative approach if you are looking to purchase country property or vacant land and in these cases, you may need to complete a larger deposit.

      Your best course of action would be to consult a mortgage broker to discuss your borrowing options.

      Thanks,
      Belinda

  4. Default Gravatar
    David | August 19, 2015

    To whom may I concern,

    I am holding temporary residence visa subclass 457. I want to borrow money for my first home buyer. I am just wondering, which lender that can borrow me the money up to 90% LVR?

    Regards,
    David

    • Staff
      Belinda | August 20, 2015

      Hi David,

      Thanks for your enquiry.

      As the first home owner grant (FHOG) varies from each state, you might be interested to read our FHOG grant guide to see if you’re eligible.

      You can also compare a range of home loans that are suited for first home buyers in the comparison table, and under ‘LVR’ you can see which lenders allow you to borrow up to 90% LVR.

      Please note that to be eligible for the FHOG, at least one applicant must be a permanent resident or an Australian citizen.

      Thanks,
      Belinda

  5. Default Gravatar
    cards22 | March 20, 2015

    can this home loan be used for a second home or an investment property at 95% lvr? If it can only be used for a second home loan can I apply for more money than the home is worth to cover small renovations and repairs? Finally what would the insurance be for this loan at 95% lvr on a 180 thousand dollar loan?

    • Staff
      Shirley | March 20, 2015

      Hi Card 22,

      Thanks for your question.

      This home loan be used for a second home or an investment property at 95% LVR.

      You can apply for a higher amount than the home is worth to cover small renovations and repairs, but this subject to Greater Building’s lending criteria. If you surpass the 95% LVR, this may be an issue too

      Unfortunately we are unable to supply quotes for LMI, as these are supplied by the lender.

      If you would like to discuss your eligibility or options, please get in touch with Greater Building directly by clicking on ‘Go to site’.

      Cheers,
      Shirley

  6. Default Gravatar
    E.Watson | January 14, 2015

    We are retirees we have a current 3yr investment loan with CBA and are looking for a cheaper interest rate to upgrade our investment property . We are looking at an interest only 3yr fixed loan of $460,000 on a $760,000 property. My question is do you loan to retirees
    Regards E.Watson

    • Staff
      Shirley | January 14, 2015

      Hi E.Watson,

      Thanks for your question.

      Greater Building Society can lend to retirees. They will take a closer look at your personal and financial situation and will base their decision on their assessment.

      If you would like to speak to Greater Building Society regarding your eligibility and options, please click on ‘go to site’ and you’ll be taken their website. There is an option on the page where you can make an enquiry and someone from Greater Building Society will get back to you.

      Cheers,
      Shirley

  7. Default Gravatar
    Matthew | January 5, 2015

    Once the fixed period expires, what rate does the loan revert to?

    • Staff
      Shirley | January 6, 2015

      Hi Matthew,

      Thanks for your question.

      The fixed rate reverts to the standard variable rate after the fixed period.

      Cheers,
      Shirley

  8. Default Gravatar
    peter | November 25, 2014

    do we need a deposit to get a home loan started as other banks want this

    • Staff
      Shirley | November 25, 2014

      Hi Peter,

      Thanks for your question.

      Yes you’ll need a 20% deposit with the Greater Building Society Ultimate Fixed Rate Home Loan. You’ll find that all banks will require a deposit.

      If you’d like, you can check out our low deposit home loans page and 100% home loans page.

      Cheers,
      Shirley

Greater Bank Ultimate Fixed Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $375

  • Max LVR

    80%

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