Compare Home Loan Packages

Get a lower interest rate and other discounts when you move all your banking to one lender.Professional Package Home Loans

Package home loans, or 'professional package home loans' bundle together various products with your lender, including credit cards, personal loans and savings and transaction accounts.

You'll usually benefit from decreased fees and interest rates on your home loan and other linked products, and in exchange your lender will require you to pay an annual fee which ranges from $150 - $400, or even more in some cases.

Years ago, this type of package was offered only to professionals like doctors, accountants and lawyers. But now, non-professionals can also apply and get approved. A package home loan can be a great option if you intend on borrowing more than $250,000.

Compare professional package home loan offers

Rates last updated August 17th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
5.84%
$0
$395 p.a.
90%
Flexible repayment options.
4.57%
4.94%
$0
$349 p.a.
90%
A secure loan offering a great rate.
5.01%
5.40%
$0
$395 p.a.
95%
Enjoy a lower discounted interest when borrowing more than $250K. $1,500 cash back available for refinancers, conditions apply.
4.35%
4.73%
$0
$375 p.a.
80%
Package your home loan with other Suncorp banking products and receive discounts on them all.
5.21%
5.59%
$0
$395 p.a.
95%
Enjoy zero establishment fees and discounts on a range of St.George products.
3.79%
4.18%
$0
$375 p.a.
90%
Package loan with a competitive rate that also comes with a 100% offset account.
4.08%
4.11%
$0
$0 p.a.
80%
Enjoy discounts and a 100% offset account

Compare up to 4 providers

Compare professional package home loan offers

Rates last updated August 17th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.69%
4.11%
$0
$395 p.a.
80%
Unlock a range of savings with this competitive package home loan offer. Offset account and redraw facility included.
4.96%
5.35%
$0
$395 p.a.
95%
Get a discount off the standard variable rate and pay interest only repayments.
5.59%
$0
$395 p.a.
90%
Make interest-only repayments and unlock equity in your home. Combine your mortgage, credit card and transaction account for discounts.

Compare up to 4 providers

Compare professional package home loan offers

Rates last updated August 17th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.89%
5.04%
$0
$395 p.a.
95%
Package your home loan with a fixed interest rate for 1 year.
3.79%
4.71%
$0
$375 p.a.
90%
A 2 year fixed rate home loan packaged with your day-to-day banking needs offering discounts on all.
3.79%
4.66%
$0
$375 p.a.
90%
A fixed loan with rate and fee discounts.

Compare up to 4 providers

Understanding the basics to professional packages

Industry experts Liam Janke, Former Aussie General Manager of Marketing and Products Stuart Tucker, Niel Manual and Kim Wight discuss the basics to understanding professional packages.

Common features of a package loan

Professional packages differ depending on the loan you choose and the loan amount you are borrowing. However, some common features you can expect to find if you choose a professional package include:

  • An interest rate discount: This discount is often tiered on the amount you borrow. This means that even as official rates rise and your lender raises their interest rates you can maintain a lower interest rate.
  • A 100% offset account: An offset account allows you to deposit your savings, and other income and wages so that it can work to save you interest charges on your loan. The amount in your offset account counts as a deduction towards your loan amount when interest is calculated, so you are only charged interest on your loan amount less the value in your offset account. Customers have full access to the funds in their offset account at all times.
  • Fee free linked accounts: When you apply for a home loan with a professional package, your lender may also include free fee credit cards and transaction accounts. This can save you hundreds of dollars in credit card annual fees and transaction charges.
  • Multiple loan splits: Splitting the loan allows you to choose to secure parts of your loan against a variable and fixed interest rate. This lets borrowers enjoy both the security of fixed loan and the flexibility of a variable loan.
  • Make additional repayments. Many professional packages will offer you the ability to make additional repayments onto the loan account. This can help you pay off the loan faster and reduce the amount of interest that you will have to pay onto the loan.
  • An annual fee. In exchange for these benefits, a package home loan generally charges an annual fee between $150 - $400, or more in some cases.
  • Discounted or fee-free application. Loan application fees and all the costs involved with activating a new loan can add up to hundreds and sometimes even thousands of dollars. However, if you are applying for a professional package on your loan, your lender may offer you the discounts or waive those application fees altogether.
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Who is eligible for a professional package home loan?

While a professional package is a feature which is added to an existing home loan offer, professional packages are not available to every applicant and to every type of loan. Instead, to be eligible to add a professional package to your home loan:

  • You need to be borrowing over a certain amount: Professional packages generally have a minimum borrowing amount, which may be higher than regular home loans. Some lenders may offer further discounts in exchange for you borrowing larger amounts, so be sure to compare each professional package rate and see what the discount will be for your specific loan size.
  • You need to have the right type of home loan: Professional packages can't be added to all standard or basic loans, for example, because these loans have fewer features to make them more affordable.
  • Interest rate discounts can be subject to your LVR: An LVR (Loan to Value Ratio) is the amount you're borrowing expressed as a percentage of the property purchase price. Package home loans can be available with maximum LVRs of up to 95% depending on the lender, but it's important to remember that the most attractive package rates are generally offered to those with lower LVRs. Think about this as you compare home loans.
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What are the benefits of a professional package home loan?

Each bank has the freedom to choose the benefits it gives its clients. As you shop for a home loan, compare the deals from each of the lenders as you may be able to negotiate top rates.

You will find that a professional package home loan will feature:

  • Discounted standard variable interest rates by as much as .9%
  • Discounted fixed rate interest rates by as much as .25%
  • Discounted upfront fees
  • Suspended fees on other services
  • Opportunities to negotiate even lower interest rates

With loans exceeding $750,000, you may receive even more of a discount. You may find that the reduced fees and lower interest rates may well offset the annual fee required for this type of loan. Other benefits of a professional package home loan include discounted interest rates on all of the different types of loans, such as personal and margin loans. You might also get a discount on insurance and credit card benefits, as well.

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What are the disadvantages of professional packages?

Whilst bundling all your services into one can appear to save you money. Make sure you watch out for the cons that may arise. These could include:

  • Joining or annual fees. If this fee is higher than the savings you'll make from the package, you should consider your options.
  • Higher borrowing amount. If the required amount to borrow is greater than you were actually looking at borrowing, a professional home loan might not be available.
  • Fee free credit card. Credit cards with the annual fee waived sometimes come as part of a professional package. However, this could be seen as a double edged sword as you could end up getting yourself into more debt.

Where can you find professional packages?

Loans for your home will be aggregated differently with each bank. However, you'll find that basics are basics, and benefits will vary. Some of the lenders that offer quality professional packages include ANZ, Commonwealth Bank, NAB, RAMS, St.George, and Westpac. Each of these major lenders have very generous bundled discounts, and regularly deal with major loans and accounts. Smaller lenders also offer package home loans, including:

Comparing professional package home loans

So you tick all the boxes and you're eligible for a professional package home loan. Now the only thing left to do is for you to pick a lender that suits all your needs. But how do you compare one lender to another? Just follow these steps and take a look at the different tables shown below to get informed before making a decision.
  1. Compare interest rates. Look at both the advertised rate, also known as the annual percentage rate, and also the comparison rate (shown as 'comp rate' in the table above). The comparison rate is an indicative rate which takes into account some of the fees you'll pay over the life of your loan, and is generally worked out using the example of a $150,000 loan taken out over 25 years.
  2. Compare fees. As mentioned, package home loans come with annual fees. You'll want to make sure these fees are worth it in terms of features and interest rates.
  3. Compare features. Ensure that the loans you're looking at provide features you'll use. If you want to make extra repayments on your home loan, ensure your loan allows you to do this. If you want to have your salary paid into your account each month
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UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

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A competitive interest rate home loan with interest only options. Interest rate 3.64% p.a.
comp rate of 3.66% p.a.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)

Loans over $150k get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.

Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150k+ Owner Occupier, P&I) Discount 1

New borrowers or refinancers from another lender get a discounted rate with this package loan.

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2 Responses

  1. Default Gravatar
    josephMay 3, 2016

    I have no property may you grant my loan application?

    • finder Customer Care
      MarcMay 4, 2016Staff

      Hi Joseph,
      thanks for the question.

      All Australian lenders will require borrowers to have property as security to be eligible for a home loan.

      Regards,
      Marc.

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