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Click Loans Basic Loan

Features

The Basic Loan offers owner-occupiers a relatively low variable rate - although not necessarily the lowest on the market – while investors will need to pay a significantly higher rate of interest.

Investors, however, will only need a minimum of five per cent deposit to be eligible for this loan, while owner-occupiers will need a minimum of 20 per cent.

Click Loan’s Basic Loan does let you split your loan with one of their fixed rate products. It also lets you make additional repayments and includes a redraw facility.

It doesn’t, however, include an offset account.

Who is the Click Loans Basic Loan good for?

With its low variable interest rate, the Basic Loan could be good for a range of borrowers looking for a relatively low rate of interest. However since Click Loans is a 100 per cent online lender, this loan would be best for people who don’t mind managing their finances online and over the phone.

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If you’re someone who likes to do everything online, including managing your financial products, then the Basic Loan could be an option for you, whether you’re an owner-occupier or an investor.

Owner-occupiers will have the benefit of a relatively low variable interest rate while investors will have to pay more under this loan.

It’s a good idea to make a checklist of exactly what you’re looking for in your home loan before you can determine if the Click Loans Basic Loan is the most suitable option for you.

Click Loans Basic Loan Options

More information about the Click Loans Basic Loan options can be found at the links provided below.

Product
Advertised rate
Comparison rate*
Monthly repayment
Go To Site
Details
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Details
Details
Details
Details

Variable Rates from

4.04%

Advertised rate

4.07%

Comparison rate
Pros
  • Competitive rate for owner-occupiers.
  • No ongoing fees.
  • Redraw facility.
Cons
  • Higher interest rate for investors.
  • No 100 per cent offset account.
  • No branch access.
Eligibility

Must be able to provide proof of income.

Must be over 18 years of age.

Must be able to provide identification documentation.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $440.00
  • Discharge fees: $250
  • Ongoing fees: $0

The Click Loans Basic Loan has a moderate upfront cost, as well as an exit fee that you will pay at the end of your loan when you are discharged.

There are no ongoing fees associated with this home loan, which means you will not have to pay any monthly or annual loan fees which will help keep costs down.

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

Click Loans is a completely online Australian lender with customer service representatives who are located within the country and available to contact online, over the phone and through web and video chat. As a subsidiary of Australian Credit and Finance, one of the country’s largest mortgage brokers, Click Loans exclusively provides home loans.

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