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Greater Bank Ultimate Loan

Features

The Greater Bank Ultimate Loan is a low rate home loan packed with convenient features and flexible options.

Available in both a fixed and variable rate option, the Greater Bank Ultimate Loan gives you the best of both worlds and lets you lock in a fixed rate for up to five years.

Rates aside, the Ultimate Loan has no upfront fees and when combined with a fee-free Ultimate Access account and Greater Bank Visa Credit Card, you’ll pay no account or transaction fees.

In terms of flexibility, this loan gives you the choice of setting your repayments to weekly, fortnightly or monthly cycle and opting to pay principal and interest or interest-only for a period of time.

You could take advantage of the 100 percent Ultimate Offset account, or if you find yourself needing a little extra cash you can make unlimited free redraws through Internet Banking.

The Greater Bank Ultimate Loan gives you access to discounts on financial products like insurance, as well as a complimentary Financial Planning consultation.

The Greater Bank Ultimate Loan will let you borrow up to 95 percent of property value but to avoid paying lenders mortgage insurance you will need a deposit of 20 per cent or more.

At present, the Greater Bank Ultimate Loan is only available to customers in NSW, QLD and ACT.

Who is the Greater Bank Ultimate Loan good for?

The Greater Bank Ultimate Loan gives you a range of ways to save and when coupled with a low interest rate, this loan has broad appeal. Zero upfront fees, 100 per cent offset facility, flexible repayments and an interest-only option make this loan appealing to several borrower categories.

First home buyers and refinancers might benefit from the complimentary Financial Planning consultation. The Greater Bank Ultimate Loan is only available in NSW, QLD and ACT.

Review - What RateCity says

If you’re looking a low rate home loan that gives you access to a range of fee-free accounts and convenient features, the Greater Bank Ultimate Loan is worth considering.

The most obvious value in this loan comes from the low fixed and variable rate options and when packaged with other Greater Bank accounts and credit cards you get access to further fee waivers and discounts on financial products like insurance. It’s worth noting that the package adds a hefty annual fee to the loan, so do your sums to make sure you’re actually saving.

When you apply for the Greater Bank Ultimate Loan you’ll have access to a complimentary financial planning consultation. It’s a nice touch to help first home buyers and owner-occupiers get their heads around the loan’s features and can also help refinancers make the most out of the 100 percent offset account and repayment options.

Greater Bank Ultimate Loan Options

The Greater Bank Ultimate Loan is a low interest rate loan with no upfront fees. This low rate loan is available in fixed, variable and investment loan options. Click below to find an Ultimate Loan that suits your deposit size.

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Advertised rate
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Fixed Rates from

3.49%

Advertised rate

4.42%

Comparison rate

Variable Rates from

3.74%

Advertised rate

4.12%

Comparison rate
Pros
  • No upfront fees.
  • Low interest rates.
  • 100 percent offset account.
Cons
  • High annual fee.
  • Limited branch network.
  • Only available to customers in NSW, ACT and QLD.
Eligibility

Proof of identity.

Proof of income and employment.

Provide a list of assets and liabilities.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $180
  • Discharge fees: $300
  • Ongoing fees: $375 annually

The Greater Bank Ultimate Loan has no upfront fees and an average discharge fee. If you opt for the loan without the package, you’ll save yourself the annual loan fee, however, the package does waive fees on transaction accounts and credit cards as well as giving you discounts on insurance and an unlimited free redraw facility.

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

Since 1945, Greater Bank has been providing a range of loans and financial services to residents in NSW and QLD. As Greater Bank is owned by its customers, profits are distributed back to the bank’s members. Greater Bank customers have access to an extensive ATM network including Westpac, St George, Bank of Melbourne and Bank of SA ATMs.

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