Compare Home Loan Packages

Rates and Fees verified correct on December 4th, 2016

Get a lower interest rate and other discounts when you move all your banking to the one lenderProfessional 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 beyond 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. Usually 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 December 4th, 2016.

View latest updates

Jodie Humphries Jodie
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Westpac Premier Advantage Package Variable Home Loan - Rocket Repay  ($150,000 to $249,999, P&I)
Package Westpac's standard variable home loan with all the additional features available with the Premier Advantage Package.
4.69% 5.07% $0 $395 p.a. 95% More info
5.04% $0 $395 p.a. 90% More info
5.05% $0 $395 p.a. 95% More info
4.65% 4.75% $0 $395 p.a. 80% More info
NAB Choice Package Variable Rate - Up to $250K P&I (Owner Occupier)
Enjoy package discounts on other financial products whilst paying $0 application fee. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.65% 5.04% $0 $395 p.a. 95% Go to site More info
4.22% 4.58% $0 $349 p.a. 90% More info
St.George Advantage Package Home Loan - $250k to $499k (Special Discount Owner Occupier) (IO)
Enjoy a lower discounted interest when borrowing more than $250K. $1,500 cash back available for refinancers, conditions apply.
4.54% 4.94% $0 $395 p.a. 95% More info
Suncorp Home Package Plus Variable - $150,000 and $499,999 (LVR <=80% Owner Occupier)
Package your home loan with other Suncorp banking products and receive discounts on them all.
4.45% 4.83% $0 $375 p.a. 80% More info
St.George Advantage Package Home Loan - $150K to $249K (Special Discount Owner Occupier) (IO)
Enjoy zero establishment fee and discounts on other products.
4.74% 5.13% $0 $395 p.a. 95% More info
ANZ Breakfree Home Loan Package  - $150,000 to $249,999 (Owner Occupier)
ANZ Breakfree Professional Package ($150,000 / $249,999)
4.75% 4.85% $0 $395 p.a. 95% More info
Suncorp Home Package Plus Home Loan - Special Offer ($150k to $499,999 LVR <=90% Owner Occupier)
A high maximum LVR and 100% offset account are available with this loan.
3.95% 4.34% $0 $375 p.a. 90% More info
Firstmac VIP Package Variable - LVR ≤ 80% (Owner Occupier + P&I)
Enjoy discounts and a 100% offset account
4.09% 4.12% $0 $295 p.a. 80% More info
Commonwealth Wealth Package Line of Credit - $150,000 to $349,999
Enjoy the package benefits of Commonwealth Bank's Wealth Package with the flexibility of a line of credit.
5.13% $0 $395 p.a. 97% More info

Compare professional package home loan offers

Rates last updated December 4th, 2016.

NAB Choice Package Variable Rate - $750k+ P&I (Owner Occupier)

Interest rate decreased by 0.10%

August 19th, 2016

AMP Professional Package Variable Rate Home Loan - $750,000 and above (Owner Occupier)

Comparative rate decreases by 0.09% | Interest rate decreases by .10%

August 24th, 2016

View latest updates

Jodie Humphries Jodie
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
St.George Advantage Package Home Loan - $500k to $749k (Special Discount) (Owner Occupier, IO)
Get a discount off the standard variable rate and pay interest only repayments.
4.49% 4.89% $0 $395 p.a. 95% More info
Westpac Premier Advantage Package Variable Home Loan - Equity Access ($750,000 and above)
Access the equity in your home with a discounted interest rate.
4.75% $0 $395 p.a. 95% More info
Suncorp Home Package Plus Variable - $750,000 and above (LVR <=80% Owner Occupier)
Pay no application or ongoing fees with the Suncorp Home Package Plus.
4.25% 4.63% $0 $375 p.a. 80% More info
Westpac Premier Advantage Package Variable Home Loan - Rocket Repay ($750,000 and above, P&I)
A package home loan with offset account and disounted rate.
4.39% 4.77% $0 $395 p.a. 95% More info
St.George Portfolio Home Loan With Advantage Package - $500k to $749k (Special Discount)
Pay no application fee when you package your equity loan with St.George's Advantage Package.
4.79% $0 $395 p.a. 90% More info
NAB Choice Package Variable Rate - $750k+ P&I (Owner Occupier)
Enjoy discounted rates to a range of NAB products. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.35% 4.75% $0 $395 p.a. 95% Go to site More info
AMP Professional Package Variable Rate Home Loan - $750,000 and above (Owner Occupier)
A variable package loan for a greater loan size. No monthly fees.
3.85% 4.22% $0 $349 p.a. 90% Go to site More info
HSBC Premier Home Loan
Discounted home loan package with relationship manager.
$0 $420 p.a. 90% More info
ANZ Breakfree Home Loan Package  - $700,000+ (Owner Occupier)
Enjoy a range of discounts on your rate and other ANZ products.
4.55% 4.65% $0 $395 p.a. 95% More info

Compare professional package home loan offers

Rates last updated December 4th, 2016.

NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier)

Interest rate decreased by 0.05%

August 19th, 2016

Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year

Comparative rate increases by 0.08%

October 10th, 2016

Westpac Fixed Options Home Loan Premier Advantage Package - 3 Years

Comparative rate increases by 0.07%

October 10th, 2016

View latest updates

Jodie Humphries Jodie
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier)
A fixed rate package loan with flexible repayments options. 250,000 Velocity Frequent Flyer point offer, conditions apply.
3.75% 4.87% $0 $395 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier)
Receive discounts on interest rates with the Choice Package. 250,000 Velocity Frequent Flyer point offer, conditions apply.
3.89% 4.84% $0 $395 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier)
A competitive loan with flexible features. 250,000 Velocity Frequent Flyer point offer, conditions apply.
4.59% 5.02% $0 $395 p.a. 95% Go to site More info
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cash back available for refinancers, conditions apply.
3.99% 5.07% $0 $395 p.a. 95% More info
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years
A low interest rate home loan and competitive two year fixed rate.
3.99% 4.97% $0 $395 p.a. 95% More info
Citibank Mortgage Plus Fixed Rate - 3 Year Fixed Rate (Owner Occupier)
A competitive fixed interest rate for three years.
3.99% 4.52% $0 $350 p.a. 80% More info
Commonwealth Bank Wealth Package Fixed Home Loan - 1 Year Fixed (Owner Occupier)
Package your home loan with a fixed interest rate for 1 year.
4.39% 5.09% $0 $395 p.a. 95% More info
Suncorp Home Package Plus - 2 Year Fixed Rate (Owner Occupier)
A 2 year fixed rate home loan packaged with your day-to-day banking needs offering discounts on all.
3.84% 4.72% $0 $375 p.a. 90% More info
Westpac Fixed Options Home Loan Premier Advantage Package - 3 Years
A great package and competitive fixed rate.
4.09% 4.94% $0 $395 p.a. 95% More info
Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year
Secure a low fixed rate offer plus low ongoing fee.
4.39% 5.07% $0 $395 p.a. 95% More info
Suncorp Home Package Plus - 3 Year Fixed Rate (Owner Occupier)
A fixed loan with rate and fee discounts.
3.84% 4.67% $0 $375 p.a. 90% More info

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, but you can get a discount of up to 0.8% in many cases. 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 $250 - $700.
  • Discounted or free fee 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.
Back to top

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.
Back to top

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 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.

Back to top

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:

Back to top

What is the annual fee?

The benefits listed here can be acquired for an annual fee of $250 to $750. The fee is only billed to you once per package, so your credit cards, multiple loans, stock dealings, and the above-mentioned services are rendered as a result of this one fee. This amount will be affected by which bundle you choose and the size of your loan. If you are not a business owner, but qualify for a larger loan, you can get a professional agreement for a standard home loan. Clients with a higher net worth may qualify for a private banking assortment.The fee you pay will include the basics:

  • You will not have additional fees on your loan.
  • You will receive discounts on homeowners' insurance.
  • You will receive financial planning services.
  • Bookkeeping on your transactions is taken care of, free of charge.
  • Your annual credit card fee will be forfeited.
Back to top

How can you work out a well suited professional package?

Regardless of your profession, you can usually qualify for a professional package if you're borrowing enough money and your LVR is within the lender's maximum. Lenders offer a discount of up to .9% on their standard rates, especially for loans greater than $500,000. Also, if all of your services are with the one lender, you could negotiate a bundle that will substitute the annual fee for all of the little fees, extra interest, and extra charges you are already paying. The single fee will probably be less than all of the extras you are already paying. If your accounts are in several banks, you could benefit in the same way by consolidating all of your loans and investments under the same roof, and receiving the discounts that accompany your decision.

Back to top

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 from 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
Back to top

How much of a discount do professional package loans offer?

Different banks will offer slightly varying discounts compared to other banks. The advertised discounts available may also not be their best offer. You can still apply to negotiate for a special pricing discount over and above the regular rate you were offered originally.

Remember that the rates shown are the discounted rates you could receive off the standard variable rate (SVR). So whatever SVR your bank offers, the discounts will apply to this. Its worth looking closely at the difference in SVR between banks before considering the final discount applied too.

As a rule of thumb, the general discounts offered without the need to negotiate are as follows:

Standard professional package discounts:

Loan AmountDiscount off the Standard Variable Rate
$150,000 - $249,9990.7%
$250,000 - $749,0000.9%
$750,000 and over1%

Negotiated discounted interest rates

If you do not ask, you do not receive. So if you are happy to receive the standard 0.7% discount off your mortgage and do not request anything further, the bank won't offer.

But if you know you are a strong customer with plenty to offer that bank, you could find they are very willing to arrange special pricing for you. This is especially true for full-doc customers with a high net worth.

The key to receiving greater discounts than most other people will receive is to negotiate with your bank.Back to top

Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 29 November 2016 at 13:01.

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy the low variable rate with $0 ongoing fee and borrow up to 90% LVR.

ME Bank Basic Home Loan - LVR <=80% Owner Occupier

A low variable rate loan with no application or ongoing fees.

NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier)

Receive discounts on interest rates with the Choice Package. 250,000 Velocity Frequent Flyer point offer, conditions apply.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to Compare Home Loan Packages

  1. Default Gravatar
    joseph | May 3, 2016

    I have no property may you grant my loan application?

    • Staff
      Marc | May 4, 2016

      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.

Ask a question
feedback