The Capricornian Premium Choice Loan

Features

The Capricornian Premium Choice Loan offers borrowers access to a number of features designed to help them reduce their loan quickly. The combination of a 100 per cent offset account and additional repayments lets them save on interest, while using additional income to pay down the loan faster.

There is also an interest-only payment option, which allows borrowers to make regular payments of only interest for a period of time.

The Premium Choice Loan also offers loan repayment insurance, which covers borrowers in the case they cannot repay their loan, and a redraw facility, which means repayments can be drawn out again if needed for other reasons.

Who is the The Capricornian Premium Choice Loan good for?

The Premium Choice Loan suits borrowers who wish to refinance quickly. The lack of ongoing fees and low rate of interest may help borrowers to take advantage of features like the offset account and extra repayments, while the redraw facility and availability of loan repayment insurance offer some security for borrowers uncertain about how best to manage their loan.

Review - What RateCity says

The Capricornian Premium Choice Loan combines flexibility with security in a simple and easy to manage loan. Its stand-out features are its low rate of interest and lack of ongoing fees ongoing fees, but its 100 per cent offset account and redraw facility may also appeal to borrowers. Borrowers who want face-to-face support may be put off by the limited branch network.

The Capricornian Premium Choice Loan Options

The Capricornian Premium Choice Loan comes with a range of options at both fixed and variable rates of interest.

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Fixed Rates from

3.29%

Advertised rate

4.14%

Comparison rate

Variable Rates from

4.15%

Advertised rate

4.19%

Comparison rate
Pros
  • 100 per cent offset account.
  • No ongoing fees.
  • Low rate of interest.
Cons
  • Some upfront fees.
  • Not portable.
  • No construction options.
Eligibility

Australian resident.

At least 18 years of age.

Member of the Capricornian.

Proof of income.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $600.00
  • Discharge fees: $100
  • Ongoing fees: $0

The Capricornian Premium Choice Loan charges no ongoing fees for the duration of the loan term, but a moderate establishment fee is charged when the loan is set up. A discharge fee is also payable at the time of the loan’s termination. Borrowers should also note that the loan repayment insurance feature will involve an increase in their regular payments.

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

The Capricornian is a community-owned bank that offers its members a range of affordable financial services. It is the only local customer owned financial service provider in the area of Central Queensland.

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