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Beyond Bank Pinnacle Plus Package Loan

Features

The variable rates offered with the Pinnacle Plus Package Loan depend on the amount you are borrowing for your loan – and there is a high minimum loan amount that you have to be making in order to borrow under this loan.

The lower borrowing amount range has a high variable interest rate with the next range being moderately high.

However, you do have access to lower rates with this package by fixing your interest rate for one of the available fixed terms, with one- to three-year fixed periods having a very low interest rate and the rates for four- and five-year fixed periods being moderately low.

Though, be aware that after your fixed period is completed your rate reverts to the offered moderately high to high variable interest rates.

The features offered with the Pinnacle Plus Package Loan is dependent upon the amount you’re borrowing and whether you have a variable or fixed rate, but all package customers have access to fee-free transactional banking with a Beyond Bank savings account and higher term deposit interest rates.

The Pinnacle Plus Package Loan offers all variable rate customers and one year fixed rate customers a 100 per cent offset account, which is a transaction account that is linked to your home loan. The loan also has a redraw facility, which gives you access to any early repayments you’ve made.

Who is the Beyond Bank Pinnacle Plus Package Loan good for?

The Pinnacle Plus Package Loan is suited for both owner-occupiers and investors borrowing over the minimum amount and who are looking to fix their interest rate for a period, as you can take advantage of fixed rates ranging from moderately to very low.

A packaged home loan would also best suit borrowers looking for extra features out of their home loan such as fee-free and discounted Beyond Bank financial products.

Review - What RateCity says

The Pinnacle Plus Package Loan has a variety of different options for different types of borrowers so you might be able to find one that suits your circumstances.

However, given the high variable interest rates and annual package fee, it is worth doing your research to see how much this loan will cost you in the long term.

You must be a member of Beyond Bank in order to take out this home loan and all of the features you are eligible for under the Pinnacle Plus Package Loan are only available through speaking to a representative, so it’s best suited if you know you want to be a part of Beyond Bank and give them a call to go over your needs.

Beyond Bank Pinnacle Plus Package Loan Options

To read more information about the fixed and variable rate options for both investors and owner-occupiers for the Pinnacle Plus Package Loan, click the following links.

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Fixed Rates from

4.49%

Advertised rate

4.85%

Comparison rate

Variable Rates from

4.70%

Advertised rate

4.71%

Comparison rate
Pros
  • Fee-free Beyond Bank transactional banking.
  • Redraw facility available.
  • Low fixed interest rates.
Cons
  • Moderately high variable interest rates.
  • Annual package fee.
  • Discharge fee.
Eligibility

Must meet loan amount requirement.

Must be a member of Beyond Bank.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $295
  • Ongoing fees: $395 annually

Some upfront fees apply on the Pinnacle Plus Package Loan and there is a moderate annual fee for this package. A discharge fee also applies, due when you finish repaying your loan.

There is also a fee charged if you switch from the Pinnacle Plus Package Loan to another Beyond Bank home loan package.

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

Being one of Australia’s fully customer-owned banks, Beyond Bank rewards its customers through reinvesting its profits to them. Beyond Bank has branches throughout the country and access to the rediATM network, with customer service representatives available over the phone and online.

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