Compare Home Loan Packages

Rates and fees last updated on

Get a lower interest rate and other discounts when you move all your banking to 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 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, 2017.

View latest updates

Richard Whitten Richard
$
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 Variable Rate - Up to $250K P&I (Owner Occupier)
Enjoy package discounts on other financial products whilst paying $0 application fee.
4.64% 5.03% $0 $395 p.a. 95% Go to site More info
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.
4.64% 5.02% $0 $395 p.a. 95% Enquire now More info
5.84% $0 $395 p.a. 90% Enquire now More info
5.82% $0 $395 p.a. 95% Enquire now More info
4.40% 4.80% $0 $395 p.a. 80% Enquire now More info
4.29% 4.65% $0 $349 p.a. 90% Enquire now 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.
5.01% 5.40% $0 $395 p.a. 95% Enquire now More info
Suncorp Home Package Plus Variable - $150,000+ (LVR <=80% Owner Occupier)
Package your home loan with other Suncorp banking products and receive discounts on them all.
4.30% 4.68% $0 $375 p.a. 80% Enquire now 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.
5.21% 5.59% $0 $395 p.a. 95% Enquire now More info
ANZ Breakfree Home Loan Package  - $150,000 to $249,999 (Owner Occupier, P&I)
ANZ Breakfree Professional Package ($150,000 / $249,999)
4.70% 5.09% $0 $395 p.a. 95% Enquire now More info
Suncorp Home Package Plus Home Loan - Special Offer ($150k+ LVR <=90% Owner Occupier)
A high maximum LVR and 100% offset account are available with this loan.
3.89% 4.28% $0 $375 p.a. 90% Enquire now More info
Firstmac VIP Package Variable - LVR ≤ 80% (Owner Occupier + P&I)
Enjoy discounts and a 100% offset account
3.94% 3.97% $0 $295 p.a. 80% Enquire now More info

Compare professional package home loan offers

Rates last updated August 17th, 2017.

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, P&I)

Interest rate increases by 0.07%

March 31st, 2017

View latest updates

Richard Whitten Richard
$
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.
4.96% 5.35% $0 $395 p.a. 95% Enquire now 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.
5.52% $0 $395 p.a. 95% Enquire now 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.
4.34% 4.72% $0 $395 p.a. 95% Enquire now 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.
5.59% $0 $395 p.a. 90% Enquire now More info
NAB Choice Package Variable Rate - $750k+ P&I (Owner Occupier)
Enjoy discounted rates to a range of NAB products. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.34% 4.74% $0 $395 p.a. 95% Go to site More info
AMP Professional Package Variable Rate Home Loan - $750,000 and above (Owner Occupier, P&I)
A variable package loan for a larger loan size with no monthly fees.
3.92% 4.28% $0 $349 p.a. 90% Go to site More info
HSBC Premier Home Loan
Discounted home loan package with relationship manager.
$0 $35 monthly ($420 p.a.) 90% More info
ANZ Breakfree Home Loan Package  - $700,000+ (Owner Occupier, P&I)
Enjoy a range of discounts on your rate and other ANZ products.
4.50% 4.90% $0 $395 p.a. 95% Enquire now More info

Compare professional package home loan offers

Rates last updated August 17th, 2017.

Westpac Fixed Options Home Loan Premier Advantage Package - 3 Years, P&I

Comparative rate increases by 0.07%

October 10th, 2016

Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years, P&I

Interest rate is now 3.88%

March 17th, 2017

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

Interest rate is now 3.94%

May 11th, 2017

View latest updates

Richard Whitten Richard
$
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 P&I)
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.88% 4.89% $0 $395 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 3 Year Fixed (Owner Occupier P&I)
Receive discounts on interest rates with the Choice Package. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.94% 4.84% $0 $395 p.a. 95% Go to site More info
NAB Choice Package Home Loan - 5 Year Fixed (Owner Occupier P&I)
A competitive loan with flexible features. 350K NAB Rewards Points offer available. Terms and conditions apply.
4.59% 5.01% $0 $395 p.a. 95% Go to site More info
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier, P&I)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.99% 4.98% $0 $395 p.a. 95% Enquire now More info
Westpac Fixed Options Home Loan Premier Advantage Package - 2 Years, P&I
Lock in a discounted fixed rate with a low service fee.
3.99% 4.90% $0 $395 p.a. 95% Enquire now More info
Citibank Mortgage Plus Fixed Rate - 3 Year Fixed Rate (Owner Occupier, P&I)
A competitive fixed interest rate for three years.
4.29% 4.63% $0 $350 p.a. 80% Enquire now More info
Commonwealth Bank Wealth Package Fixed Home Loan - 1 Year Fixed (Owner Occupier) P&I
Package your home loan with a fixed interest rate for 1 year.
3.99% 5.05% $0 $395 p.a. 95% Enquire now More info
Suncorp Home Package Plus Fixed- 2 Year Rate (Owner Occupier)
A 2 year fixed rate home loan packaged with your day-to-day banking needs offering discounts on all.
3.79% 4.67% $0 $375 p.a. 90% Enquire now More info
3.99% 4.85% $0 $395 p.a. 95% Enquire now More info
Westpac Fixed Options Home Loan Premier Advantage Package - 1 Year, P&I
Secure a low fixed rate offer plus low ongoing fee.
3.99% 4.96% $0 $395 p.a. 95% Enquire now More info
Suncorp Home Package Plus Fixed - 3 Year Rate (Owner Occupier)
A fixed loan with rate and fee discounts.
3.79% 4.62% $0 $375 p.a. 90% Enquire now 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. 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.
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 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.

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:

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
Back to top
Back to top
Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 15 June 2017 at 11:17am.

Bank Australia Basic Home Loan - Variable (Owner Occupier)

A competitive variable rate that allows borrowers to borrow a minimum of $100,000 with a $0 ongoing fee.

NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I)

A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)

Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.

IMB Budget Home Loan - LVR <=90% (Owner Occupier)

Get a competitive rate without features you may not use.

Ask an Expert

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

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

2 Responses

  1. Default Gravatar
    josephMay 3, 2016

    I have no property may you grant my loan application?

    • Staff
      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.

Ask a question
feedback