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BankVic WealthBuilder Package Loan

Features

The Wealthbuilder Package Loan is designed to help you save money where possible when investing in property.

As a first-time or experienced investor, you will be encouraged to develop an investment plan by the bank. From there you will be guided along the purchasing process so you end with the right property or share portfolio.

For shares, managed funds and holidays, the terms and conditions differ slightly from a property investment loan, but the loan structure is similar.

The Wealthbuilder Package Loan is available as a standard variable, fixed rate or interest-only loan. It also gives you the flexibility of splitting loan between variable and fixed. If you don’t opt for a fixed rate loan, you can make additional repayments without penalty.

You can also establish an investor account if you wish, where your rental income can be deposited. There is also an overdraft facility and credit card on offer too. These banking products are in addition to a 100 per cent offset account and redraw facility, which are standard features of the Wealthbuilder Package Loan. 

Who is the BankVic WealthBuilder Package Loan good for?

The Wealthbuilder Package Loan is an investment loan designed for both property and share investors. As such, it is not suitable for owner-occupiers. 

Review - What RateCity says

The Wealthbuilder Package Loan has a number of features you may desire as a first-time or astute investor. These include a pre-purchase consultation, an overdraft facility, an offset account and the option to split your loan between fixed and variable rates.

It might be worth seeking professional financial advice to determine your financial situation and see if this loan is your most suitable option.

BankVic WealthBuilder Package Loan Options

The Wealthbuilder Package Loan rewards borrowers with discounted variable and fixed interest rates and a host of banking features which give you the opportunity to maximise your investment and save where possible. 

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Fixed Rates from

4.12%

Advertised rate

4.95%

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Variable Rates from

4.49%

Advertised rate

4.87%

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Pros
  • Overdraft facility.
  • Option to pay interest in advance.
  • Discounted interest rates.
Cons
  • Not suitable for owner-occupiers.
  • Borrow a maximum 80 per cent of the property value.
  • Relatively high rates.
Eligibility

Property is required as security for all Wealthbuilder Package Loan products.

Must be over 18.

Must meet lender’s serviceability criteria.

Suitable For
  • First Home Buyers
  • Investors
  • Refinancers
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $195
  • Ongoing fees: $375 annually

You don’t need to fork out for upfront fees to establish a Wealthbuilder Package Loan, but there is an annual ongoing fee for the package itself. You can also expect a discharge fee at the end of the loan term. 

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About BankVic

BankVic is a mutual, customer-owned bank established by Victorian police officers in 1974. BankVic invests in products and services which benefit its members. BankVic offers financial services to members, family and friends of people working in the Police, Health, Public Service and Emergency Services sectors.

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