Buy a property through your SMSF and enjoy a 100% offset account with the St.George Super Fund Home Loan
If you happen to have your own self managed super fund, or you're thinking of creating one, you can now benefit from some of the superfund home loans available from St.George.
These super fund home loans give you the chance to diversify your portfolio by being able to invest in residential property.
Having a diverse portfolio means that the superfund won't have to rely on just one form of growth.
The St.George bank superfund home loan has the following features:
- Option to have a partial or 100% offset account.
- Ability to make extra repayments.
- Option to choose payment frequency.
|Product Name||St.George Super Fund Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$100,000|
|Maximum Loan Amount||$2,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||70%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||No|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$12 monthly ($144 p.a.)|
- Borrow money through a SMSF to purchase property
- You can link a 100% offset account to your home loan
- You can make additional payments off the home loan balance at any time without penalty
- A $1500 application fee applies
- There is a $100 settlement fee
- A $12 per month account service fee applies
- A discharge fee of $350 applies when you close your SMSF home loan
The St.George Super Fund Home Loan features
For people who run their own super fund and are interested in purchasing an investment property, here is some information about the St.George Super Fund home loan that can help you make a decision on whether or not this is the right loan for your superfund:
- Variable rate. The St.George Super Fund home loan has a variable rate, which means that the interest rate on the home loan can be changed by the bank. Variable rate home loans often have a rate which is cheaper than a fixed rate home loan because the banks will often factor in future interest rate fluctuations. If you like the sound of this loan, but you would prefer a fixed rate than St.George offer, you can view a fixed rate super fund home loan here.
- Offset account. The Super Fund home loan has the option of either having a 100% or partial percentage offset account. This means that any savings that the super fund may have in another account can be used to offset either all or part of the interest being paid on the home loan. This can be a great option for super funds that have large savings.
- You can make extra repayments. You have the option of being able to make extra repayments on your home loan up to the amount of $10,000 per year with a St.George Super Fund home loan. Being able to make these extra repayments is a great way of reducing the total amount to be paid in interest and the length of your loan.
- Several payment options. You can have either weekly, fortnightly, or monthly repayments on your St.George Super Fund home loan. This means that you're able to structure the repayment of your home loan in a way that best suits your financial situation.
- Establishment and monthly fees. A $1,500 establishment fee applies to the St.George Bank Super Fund home loan, plus an monthly fee of $12. Fees may also apply for additional features.
Benefits of having a Super Fund Home Loan
There are several benefits of having a Super Fund home loan but like any financial product, your super fund home loan has to be managed correctly for you to be able to take full advantage of these benefits:
- Diversify your self-managed super fund. By having a St.George Super Fund home loan, your superfund will only have to repay your loan payments, which means that your self-managed superfund can have cash freed up to be invested in other ways, such as term deposits or shares. This will help ensure that your self-managed super fund will keep performing well.
- Use rental repayments to help repay the loan. With a St.George Super Fund home loan, you can use the rental payments from your investment property to help offset the repayment on the property, which helps the super fund find money that can be used to fund other investments.
People who are suited to a St.George Bank Super Fund Home Loan
The St.George Super Fund home loan should only be used by people that would like to invest in residential property and have, or are considering opening a self managed super fund, looking for investments with a long timeframe of 15 to 30 years.
If you think that the St.George Super Fund home loan suits your current position and you would like more information, or to apply, then followed the secure link to St.George here. If you're not quite sure about this home loan or if you would like to compare it to other super fund home loans or even standard home loans, then you can view our home loan comparison tables here.
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St.George Super Fund Home Loan Interest Rate History vs RBA Cash Rate Graph
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