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 and rolls them all into one package. This loan offers a choice of fixed interest rates alongside 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.
Note that to be eligible for this loan the property you're purchasing must be in NSW, ACT or QLD.
|Product Name||Greater Bank Ultimate Fixed Home Loan|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$150,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||90%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$395 p.a.|
- Free internet redraws
- High maximum LVR of 90%
- Pay $0 application fee.
- Annual service fee of $395
- Settlement fee of $180
What do I need to know about this loan?
There are no ongoing monthly fees and no application fees with this loan, though a $395 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.
What are the features and benefits 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 loan-to-value ratio (LVR). This loan lets you borrow up to 90% of the value of the property being purchased. Any borrowing amount above 80% will require lenders mortgage insurance (LMI).
- 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.
What fees and charges come with this loan?
- Application fee: $0
- Annual fee. The Fixed Ultimate Home Loan attracts an annual fee of $395 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? Calculate your repayments
Who is Greater Bank?
Greater Bank is a customer-owned bank. This means the bank has no shareholders and, like a credit society, profits are reinvested back to the customers. Greater Bank started life in 1924 in Newcastle and gradually spread across NSW. In 2014 Greater Bank topped $5 billion in assets.
How do I 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.