The Capricornian Lifestyle Loan

Features

The Capricornian Lifestyle Loan is specifically tailored for rural homes between a certain hectare range for both owner-occupiers and investors looking to live a more rural lifestyle. Customers of this loan can make weekly, fortnightly or monthly repayments and choose from variable and fixed interest rates, although both rates offered have very high starting rates. There are options to pay this loan back faster than your loan term, with 100 per cent offset account availability and additional repayment allowances.

Variable rate customers can make early repayments without having to pay a penalty fee, while fixed rate customers have a maximum amount that can be made in early repayments during the fixed term. Only variable rate customers can use the redraw facility to redraw these extra repayments. There is a minimum loan amount that must be borrowed up to a maximum of 80 per cent of a property’s value.

The Lifestyle Loan is also offered as a construction loan for rural property. Loan repayment insurance is available for this loan to protect you if you fall behind on your repayments.

Who is the The Capricornian Lifestyle Loan good for?

The Capricornian Lifestyle Loan is good for owner-occupiers and investors who are looking to build or purchase a rural property and choose between variable or fixed rate options. This loan is also good for rural borrowers who want a flexible repayment schedule.

Review - What RateCity says

The Lifestyle Loan from The Capricornian could be a good option for those looking to purchase an owner-occupied or investment in a rural area, provided it meets the hectare specifications. Variable rate customers get better benefits in terms of being able to repay their loan faster and use the redraw facility, however both the variable and fixed rates offered by this loan are very high. It would be worthwhile to check the pros and cons of this loan against your needs to see if the Lifestyle Loan is the most suitable option for you.

The Capricornian Lifestyle Loan Options

The Capricornian Lifestyle Loan has variable and fixed rate options. Click the links below to find out more information about each option.

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Fixed Rates from

3.85%

Advertised rate

4.54%

Comparison rate

Variable Rates from

4.68%

Advertised rate

4.72%

Comparison rate
Pros
  • 100 per cent offset account available.
  • Early repayments allowed.
  • Flexible repayment schedule.
Cons
  • Very high variable and fixed interest rates.
  • Moderate upfront costs.
  • No redraw facility for fixed rate customers.
Eligibility

Rural property within hectare allowance only.

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Investors
  • Owner-Occupiers
  • Refinancers
Fees
  • Estimated upfront fees: $400.00
  • Discharge fees: $100
  • Ongoing fees: $10 monthly

The Lifestyle Loan charges moderate upfront fees and a monthly account-keeping fee. There is also a moderate discharge fee at the completion of your loan. Using the redraw facility through online or mobile banking is free, but if you redraw extra repayments in-branch you will be charged a fee.

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

Being a community-owned local credit union, The Capricornian is focused on providing benefits to its members. Branch locations can be found throughout Central Queensland and customers can use online and mobile banking offered by The Capricornian.

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