Interest Saver Investment Loan (Principal and Interest)
- Last updated on 07 Jun 2020
based on $350,000 loan amount for 25 years
- No ongoing fees
- Extra repayments + redraw services
- Repayments may decrease if RBA cuts rates
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$50k - $100m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $25
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
Since 1955, Hume Bank has been helping the Albury-Wodonga communities reach their financial goals. As a non-traditional lender, Hume Bank is owned by its customers meaning that all profits are distributed back into the bank and passed on to its members by way of low loan rates and no monthly account fees.
Hume Bank has won numerous awards, including Money magazine’s Bank of the Year and the CUNA Mutual QBE Financial Institution of the Year Award.
Hume Bank Home Loan Calculator
Interested in a Hume Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Hume Bank compares to its competitors. Simply plug in your borrowing amount below.
Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.
You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.
Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.