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Many lenders offer mortgage packages that let you bundle accounts together for a single annual fee. Each package option is different, but you can usually enjoy a waived credit card annual fee, as well as other fee-waivers and discounts for select products and services with the same bank. As well as credit cards, home loan packages could let you bundle offset accounts, personal loans, everyday bank accounts and more. The bigger your bundle, the more you can save. This guide explains how these packages work with credit cards, how you can benefit from them and what to look out for.
A mortgage or home loan package offers discounts and other benefits when you bundle different accounts together. Instead of paying multiple fees for multiple products, you pay just one annual fee for a home loan package, which usually ranges from $150-$400.
Most home loan packages offer to waive the annual fee for a credit card that you add to the bundle. Other benefits can include no loan establishment fee, waived fees for offset accounts and other bank accounts, plus discounted interest rates on the home loan.
While you can save money and get other value from mortgage packages, they also benefit banks by encouraging you to do more business with them.
The table below includes some of the biggest lenders in Australia that offer credit cards as part of a mortgage package. We've also included key details about the benefits you can get from each package. And you can compare other mortgage package options in this guide.
Bank | Mortgage and credit card package |
---|---|
ANZ |
|
Bank Australia |
|
Bankwest |
|
Citi |
|
CommBank |
|
Macquarie Bank |
|
NAB |
|
Newcastle Permanent |
|
Suncorp Bank |
|
Westpac |
|
In general, taking out a mortgage and credit card package will yield greater savings for you. Before you select one, however, make sure that you’ve compared packages from other banks, made the necessary calculations and met all the requirements and conditions for your chosen package.
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