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St.George Bank Portfolio Loan

Features

St. George Bank Portfolio Loan targets home owners who are looking to purchase additional property, build or renovate an existing property or make other investments, by offering a line of credit that gives you access to quick cash when you need it.

The St. George Bank Portfolio Loan lets you borrow up to 90 per cent of the value of your secured property, and lets you create up to 10 sub accounts so you can structure the loan to suit your needs.

The primary account is always subject to the variable interest rate, but buyers can choose fixed or variable rates for all other accounts.

Repayments are made at your discretion, provided they are at least monthly, but the loan has no set repayment terms which means you can keep the line of credit for as long as you need.

St. George also lets you bundle your Portfolio home loan with a credit card and transaction account into one St George Advantage Package for discounts on these products.

Who is the St. George Portfolio Loan good for?

This loan suits investors looking to use the equity in their secured property to place deposits on other properties and start a property portfolio.

The Portfolio Loan also suits people looking to renovate property or build a new home, as well as small business owners who would like the peace of mind that a line of credit provides when unexpected costs appear.

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Review - What RateCity says

St. George Bank Portfolio Loans could be a fit for investors looking to start an investment portfolio. Owner occupiers might also like this loan to get easy access to capital for renovations. while small business owners can use the line of credit as an overdraft account for cash when unexpected costs arise. Line-of-credit loans often have much lower interest rates than overdraft accounts.

Line of credit loans do need to be used wisely however, especially considering they typically attract high interest rates and have no set repayment schedule.

St.George Bank Portfolio Loan Options

The St. George Bank Portfolio Loan offers a number of different fixed and variable options.

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Monthly repayment
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Fixed Rates from

4.49%

Advertised rate

5.98%

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Variable Rates from

6.44%

Advertised rate

6.67%

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Pros
  • Access to cash when you need it.
  • Flexible repayment options.
  • 24-hour customer service.
Cons
  • High fees.
  • High interest rates.
  • Requires you to have an existing property.
Eligibility

Must meet serviceability criteria.

Good for investors or refinancers.

Suitable For
  • First Home Buyers
  • Investors
  • Owner-Occupiers
  • Refinancers
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $964
  • Discharge fees: $350
  • Ongoing fees: $14 monthly - $395 annually

St. George Bank Portfolio Loan comes with high establishment and upfront fees, as well as ongoing annual or monthly fees and a mortgage discharge fee.

You will also need to pay to establish sub-accounts on this loan. Some fees can be waived if you decide to go for the Advantage Package.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About St.George Bank

St. George Bank is a division of Westpac and operates nationally around Australia. The bank provides multiple home loan products and also gives buyers 24/7 access to their accounts through online services and phone banking.

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