RateCity.com.au
Advertisement

SERVICE ONE Alliance Bank Service One Alliance Fixed Rate Loan

Features

The Fixed Rate Loan gives you the ability to lock in your interest rate for a chosen term so you can be certain how much you must repay each month. Owner-occupiers are offered moderately low to moderately high fixed interest rates with this loan and the fixed interest rates offered to investors are moderate to moderately high, with each rate dependent on the fixed term you choose. Customers are able to choose which SERVICE ONE Alliance Bank loan product their loan reverts to at the end of the fixed period, or the rate will revert to the Standard Variable Home Loan rate offered by the bank at your loan borrowing amount.

The Fixed Rate Loan can also be split between a fixed and a variable rate. You can repay this loan weekly, fortnightly or monthly and also make lump sum or additional repayments, which can be redrawn at any time through the redraw facility. There is also a 100 per cent offset account option, which helps you offset your interest payable with a transaction account. Loan repayment insurance is offered with this loan to protect you in case you fall behind on your payments or become unable to repay your loan. A deposit guarantee is also offered with this loan to help you pay up to 10 per cent of a property’s value towards your deposit, however there are fees for this feature.

Who is the SERVICE ONE Alliance Fixed Rate Loan good for?

The Fixed Rate Loan is suitable for owner-occupiers and investors, though owner-occupiers have access to lower fixed interest rates. The features included with this loan are good for customers looking for flexibility in how they repay their home loan, but the deposit guarantee and loan repayment options could be good for first home buyers.

Review - What RateCity says

The Fixed Rate Loan could suit both owner-occupiers and investors, however only owner-occupiers have access to lower fixed interest rates as well as lower variable rates when the loan reverts after the fixed period. The variable rates offered when the loan reverts are dependent upon your loan amount, which means the more you’ve borrowed the lower the variable rate. This may appeal to borrowers with large loans. It’s best to check your needs with the fine print of this home loan to see which rates apply to you.

SERVICE ONE Alliance Bank Service One Alliance Fixed Rate Loan Options

There are a range of options for the SERVICE ONE Alliance Bank Fixed Rate Loan which you can find out more about at the links offered below.

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

Fixed Rates from

4.04%

Advertised rate

4.63%

Comparison rate
Pros
  • Loan split option.
  • Lump sum repayments.
  • 100 per cent offset account.
Cons
  • Moderately low to moderately high fixed interest rates.
  • Moderately high establishment fee.
  • Reverts to a variable rate which is dependent upon loan amount.
Eligibility

Must be a SERVICE ONE Alliance Bank member.

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: $750.00
  • Discharge fees: $200
  • Ongoing fees: $8 monthly

Customers of the Fixed Rate Loan will be charged a moderately high amount in upfront fees in order to establish this loan. Customers will also incur a monthly fee and average 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 SERVICE ONE Alliance Bank

A completely member-owned bank and trademark of Bendigo and Adelaide Bank, SERVICE ONE Alliance Bank focuses on rewarding its members through offering financial products and solutions and telephone and internet banking 24/7.

Compare your product with the big 4 banks, or add more products to compare