Budget Investment Loan (Principal and Interest) (LVR < 90%)
- Last updated on 02 Apr 2020
Home Value Home Loan
special
Get a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
2.65%
Variable
2.66%
Home Value Loan
3.08%
Variable
3.14%
$1,065
based on $300,000 loan amount for 25 years
Pros
- No ongoing fees
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
Cons
- Not available for first home buyer
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Maximum LVR 90% | Interest rate structure Variable |
Borrowing range $75k - $100m | Total Repayments $383,400 |
Principal & interest | Interest only |
Loan term range 0 - 30 years | Offset account No |
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Allows split interest | Suitable For Investors |
Applicable States ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Estimated upfront fees $1199 | Application fee $449 |
Settlement fee $0 | Valuation fee $0 |
Legal fee $750 | Ongoing fee $0 |
Discharge fee $350 | Property Type |
SMSF Trustee | Minimum SMSF Amount |
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Since 1880, IMB has been helping Australians reach their financial goals by providing them with access to banking, home and personal loans, financial planning and a wide range of financial products and services. IMB bank has a large community focus and works actively with local communities to provide financial support for projects. Over the years, IMB has grown its branch network throughout the Illawarra, Sydney, NSW South Coast, the ACT and Melbourne.
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FAQs
A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.