Get a low variable rate and a no-fee Visa debit card.
The loans.com.au Zip Home Loan is a low-rate home loan that offers flexible repayments, free redraw and access to a fee-free Visa debit card.
| Product Name | loans.com.au Zip Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Interest Rate (p.a.) | 2.83% |
| Comp Rate^ (p.a.) | 2.85% |
| Minimum Loan Amount | $250,000 |
| Maximum Loan Amount | $2,000,000 |
| Minimum Loan Term | 15 years |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 80% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | Yes |
| Split Loan Facility | Yes |
| Fixed Interest Option | Yes |
| Loan Portable | Yes |
| Suitable for Investment | No |
| Extra Repayment | Yes |
| Repayment Type | Principal & Interest |
| Application Fee | $0 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | 220 or at cost |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $300 |
| Discharge Fee | $300 |
Pros
- No application fee or ongoing fees
- Low interest rate
Cons
- No offset account
- Not suitable for investment
What do I need to know about this loan?
The loans.com.au Zip Home Loan is available only to owner-occupiers for purchase or refinance. It carries no application or ongoing fees.
What are the features and benefits of the loans.com.au Zip Home Loan?
- Loan amount and purpose. The loans.com.au Zip Home Loan has a minimum borrowing amount of $250,000 and a maximum borrowing amount of $2,000,000. It has a maximum loan-to-value ratio of 80%, so you'll need at least a 20% deposit.
- Flexible repayments. The loans.com.au Zip Home Loan allows you to make weekly, fortnightly or monthly repayments. You can make as many additional repayments as you like without penalty.
- Free redraw. If you're ahead on your home loan, you can withdraw the extra funds using the loan's free online redraw facility. There's no minimum redraw amount and no fee for making online redraws.
- Visa debit card. The loans.com.au Zip Home Loan comes with a no fee, Visa debit card that lets you spend $5,000 interest free for the life of the loan. This money will not be added to the balance of your home loan, meaning it won't impact your monthly repayments. But you will need to repay a minimum of $100 a month when you use the debit card.
- Low fee. This loan comes with no application or ongoing fees.
What fees and charges come with this loan?
- Settlement fee: $300. This fee covers the funding costs associated with funding your home loan.
How do I apply for this loan?
If you've compared home loans and think the loans.com.au Zip Home Loan is the product for you, click the link below. You'll be taken to the loans.com.au website, where you'll be guided through your home loan application.
