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Basic Home Loan
- Owner Occupied
- Fixed 3 years
- 30% min deposit
- P&I
Interest rate p.a.
5.99%
Comparison rate* p.a.
6.12%
Basic Home Loan
- Owner Occupied
- Fixed 3 years
- 30% min deposit
- P&I
Interest rate p.a.
5.99%
Comparison rate* p.a.
6.12%
Macquarie Bank Fixed - 3 years Rate Home Loan overview
For Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
70%
Total repayments
Interest rate type
Fixed - 3 years
Borrowing range
$150k - $10m
Suitable for
Owner Occupiers
Loan term range
0 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit Macquarie Bank Limited to view Target Market Determination.
Features
Extra repayments
Allowed with restrictions
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Fees
Total estimated upfront fees
$350
Application fee
$0
Legal fee
$350
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$400
RateCity says
"Owner occupiers with deposits of 30% or more can lock in a low fixed rate for three years, with no ongoing fees. "
Pros and Cons
For Basic Home Loan
Benefits
- Interest rates ranked in the best 20%
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Limited extra repayments
- No offset account
- Loan reverts to higher rate after fixed period
- Higher than average upfront fee
- Discharge fee at end of loan
- Maximum loan amount is limited to 70% of the property's value
- No repayment holidays
How to apply
If you'd like to apply for this product or just get more information, follow the application process on Macquarie Bank.More details