Important disclosure
Standard Variable Rate Home Loan
Find your ideal home loan from one of the 2 home loans from Bank of China
Principal and Interest (P&I)
Loan type | Loan to value ratio | Interest rate | Comparison rate | |
---|---|---|---|---|
Variable | Up to 90% | 8.39% p.a. | 8.45% p.a. | Product Info |
Interest only
Loan type | Loan to value ratio | Interest rate | Comparison rate | |
---|---|---|---|---|
Variable | Up to 90% | 8.39% p.a. | 8.45% p.a. | Product Info |
Bank of China Variable Rate Home loan overview
For Standard Variable Rate Home Loan (Interest Only)
Details
Maximum LVR 90% | Total Repayments |
Interest rate type Variable | Borrowing range
$0
-
$100m
|
Suitable for Owner Occupiers | Loan term range 0 - 30 years |
Repayment type Interest only | Applicable states ACT, NSW, NT, QLD, SA, TAS, VIC, WA |
Target Market Determination Visit Bank of China to view Target Market Determination. |
Features
Extra repayments Unlimited | Redraw facility Redraw fee: $0 |
Offset account | Split interest facility |
Loan portability | Repayment holiday available |
Allow guarantors | Available for first home buyers |
Other benefits |
Fees
Total estimated upfront fees $350 | Application fee $350 |
Legal fee $0 | Valuation fee $0 |
Settlement fee $0 | Other upfront fee $0 |
Ongoing fee $0 | Discharge fee $250 |
- Cashback Refinance Cashback of $2,000 for refinances. $1,000 cashback for new purchases. Annual fee waived for new customers who setup direct debit of loan repayments. T&Cs apply.
Other Restrictions
Other fees may apply
Pros and cons
For Standard Variable Rate Home Loan (Interest Only)
Benefits
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
Drawbacks
- No offset account
- Higher than average interest rate
- Not available for first home buyers
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
FAQs
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