BDCU Alliance Bank

5 year Fixed Investment Loan (Interest Only)

Advertised Rate

3.49%

Fixed - 5 years

Comparison Rate*

4.76%

Maximum LVR
80%
Real Time Rating™

1.38

/ 5
Monthly Repayment

$1,345

based on $300,000 loan amount for 25 years

Advertised Rate

3.49%

Fixed - 5 years

Comparison Rate*

4.76%

Maximum LVR
80%
Real Time Rating™

1.38

/ 5
Monthly Repayment

$1,345

based on $300,000 loan amount for 25 years

Calculate repayment for BDCU Alliance Bank product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,345

based on $300,000 loan amount for 25 years

Pros and Cons

Pros and Cons

    • No redraw and no offset
    • Ongoing fee
    • Maximum loan amount is limited to 80% of the property's value
    • No repayment holidays

    BDCU Alliance Bank Features and Fees

    BDCU Alliance Bank Features and Fees

    Details

    Maximum LVR

    80%

    Total Repayments

    Next LVR

    Interest rate type

    Fixed - 5 years

    Borrowing range

    Suitable for

    Investors

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Unlimited extra repayments

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $650

    Application fee

    $650

    Valuation fee

    $0

    Settlement fee

    $0

    Other upfront fee

    $0

    Ongoing fee

    $8 monthly

    Discharge fee

    $0

    Application method

    Online

    Phone

    Broker

    In branch

    Pros and Cons

      • No redraw and no offset
      • Ongoing fee
      • Maximum loan amount is limited to 80% of the property's value
      • No repayment holidays

      BDCU Alliance Bank Features and Fees

      Details

      Maximum LVR

      80%

      Total Repayments

      Next LVR

      Interest rate type

      Fixed - 5 years

      Borrowing range

      Suitable for

      Investors

      Loan term range

      1 - 30 years

      Principal & interest

      Interest only

      Applicable states

      ACT, NSW, NT, QLD, SA, TAS, VIC, WA

      Make repayments

      Fortnightly, Monthly, Weekly

      Features

      Extra repayments

      Unlimited extra repayments

      Redraw facility

      Split interest facility

      Loan portable

      Repayment holiday available

      Allow guarantors

      Available for first home buyers

      Fees

      Total estimated upfront fees

      $650

      Application fee

      $650

      Valuation fee

      $0

      Settlement fee

      $0

      Other upfront fee

      $0

      Ongoing fee

      $8 monthly

      Discharge fee

      $0

      Application method

      Online

      Phone

      Broker

      In branch

      FAQs

      How common are low-deposit home loans?

      Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

      However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

      Mortgage Calculator, Repayment Type

      Will you pay off the amount you borrowed + interest or just the interest for a period?

      Does each product always have the same rating?

      No, the rating you see depends on a number of factors and can change as you tell us more about your loan profile and preferences. The reasons you may see a different rating:

      • Lenders have made changes. Our ratings show the relative competitiveness of all the products listed at a given time. As the listing change, so do the ratings.
      • You have updated you profile. If you increase your loan amount, the impact of different rates and fees will change which loans are the lowest cost for you.
      • You adjust your preferences. The more you search for flexible loan features, the more importance we assign to the Flexibility Score. You can also adjust your Flexibility Weighting yourself, which will recalculate the ratings with preference given to more flexible loans.

      Does Real Time Ratings' work for people who already have a home loan?

      Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

      What is a redraw fee?

      Redraw fees are charged by your lender when you want to take money you have already paid into your mortgage back out. Typically, banks will only allow you to take money out of your loan if you have a redraw facility attached to your loan, and the money you are taking out is part of any additional repayments you’ve made. The average redraw fee is around $19 however there are plenty of lenders who include a number of fee-free redraws a year. Tip: Negative-gearers beware – any money redrawn is often treated as new borrowing for tax purposes, so there may be limits on how you can use it if you want to maximise your tax deduction.

      How long does NAB home loan approval take?

      The time required to get your home loan from NAB approved can vary based on a number of factors involved in the application process. 

      Once you have applied for a home loan, a NAB specialist will contact you within 24 hours over the phone to take down relevant information, including your total income, debts (existing loans, credit cards, etc.), assets (car, shares, etc.), and your monthly expenses (food, utility bills, etc.). Your lender might also ask for information related to the property you want to purchase, including the type of dwelling and preferred postcode.

      NAB will then verify all your information and check your credit score, and if the details stack up, you should be given a conditional approval certificate. This certificate stipulates how much money NAB is willing to lend you and is typically valid for 90 days. 

      Once you have your conditional approval, you can start browsing for properties that you like and that fit within the budget that NAB has provided. After you find a suitable property, you’ll need to give a copy of the signed deed to NAB, following which you should get full approval and access to the funds. This process can take up to 4-6 weeks. 

      What factors does Real Time Ratings consider?

      Real Time RatingsTM uses a range of information to provide personalised results:

      • Your loan amount
      • Your borrowing status (whether you are an owner-occupier or an investor)
      • Your loan-to-value ratio (LVR)
      • Your personal preferences (such as whether you want an offset account or to be able to make extra repayments)
      • Product information (such as a loan’s interest rate, fees and LVR requirements)
      • Market changes (such as when new loans come on to the market)

      Mortgage Calculator, Loan Amount

      How much you intend to borrow. 

      How will Real Time Ratings help me find a new home loan?

      The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

      That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

      Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

      Mortgage Calculator, Loan Purpose

      This is what you will use the loan for – i.e. investment. 

      Mortgage Calculator, Deposit

      The proportion you have already saved to go towards your home. 

      How much are repayments on a $250K mortgage?

      The exact repayment amount for a $250,000 mortgage will be determined by several factors including your deposit size, interest rate and the type of loan. It is best to use a mortgage calculator to determine your actual repayment size.

      For example, the monthly repayments on a $250,000 loan with a 5 per cent interest rate over 30 years will be $1342. For a loan of $300,000 on the same rate and loan term, the monthly repayments will be $1610 and for a $500,000 loan, the monthly repayments will be $2684.

      Mortgage Calculator, Interest Rate

      The percentage of the loan amount you will be charged by your lender to borrow. 

      What is a fixed home loan?

      A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

      Monthly Repayment

      Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

      Mortgage Calculator, Loan Term

      How long you wish to take to pay off your loan. 

      Savings over

      Select a number of years to see how much money you can save with different home loans over time.

      e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

      What is a building in course of erection loan?

      Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

      Mortgage Calculator, Repayment Frequency

      How often you wish to pay back your lender. 

      What is appraised value?

      An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.