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B&E Personal Banking FlexiChoice Loan

Features

The main features of the Bank of us FlexiChoice Loan is that it gives you options to repay your loan with weekly, fortnightly and monthly payment schedules. It also allows you to pay off your loan early with additional repayments allowed without charging you a penalty fee.

You also have the ability to redraw these payments from the offered redraw facility, however you will be charged a fee whenever redrawing payments.

Another way this home loan gives you options to repay your loan sooner is by having a 100 per cent offset account, which allows you to use a transaction account that offsets the interest payable on your home loan.

This home loan also as an investment option to suit investors with interest-only repayments that can be made up to a certain term and a transaction account. However, the variable rate offered by this home loan is high and the establishment fees charged for setting up your loan are moderately high.

There is an option to add repayment insurance to your Bank of us FlexiChoice Loan in order to insure you in case you are unable to continue making your repayments. There is an added cost for adding this insurance to your loan.

Who is the Bank of us FlexiChoice Loan good for?

The Bank of us FlexiChoice Loan is available for both owner-occupiers and investors who are purchasing or refinancing. It is good for customers looking to have a variable rate of interest and different options for repaying their home loan.

Review - What RateCity says

The B&E Personal Banking FlexiChoice Loan is a good home loan option for customers looking to repay their loan sooner by making additional repayments and through a 100 per cent offset account.

Although, the moderately high establishment fee and high variable interest rate makes it a good idea to weigh your options and see if the benefits of this loan outweigh these cons to suit your needs.

Bank of us FlexiChoice Loan Options

The FlexiChoice Loan is offered to owner-occupiers and investors. To find out more information about each of these options, follow the links provided.

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Advertised rate
Comparison rate*
Monthly repayment
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Fixed Rates from

4.29%

Advertised rate

5.15%

Comparison rate

Variable Rates from

5.22%

Advertised rate

5.35%

Comparison rate
Pros
  • 100 per cent offset account.
  • Redraw facility.
  • Penalty-free additional repayments.
Cons
  • High variable interest rate.
  • Moderately high establishment fee.
  • Monthly account-keeping fee.
Eligibility

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $1150
  • Discharge fees: $350
  • Ongoing fees: $10 monthly

You will be charged a moderately high amount in upfront fees for establishing the Bank of us FlexiChoice Loan, as well as a monthly account-keeping fee and moderately high discharge fee charged at the end of your loan term.

You will also be charged a fee if you redraw any extra repayments you’ve made through the redraw facility.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Bank of us

With branches and ATMs throughout Tasmania as well as an ATM network across Australia, Bank of us is a customer-owned offering personal banking financial products and services to customers.

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