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MyState Bank

Basic Variable

Advertised Rate

2.09

% p.a

Fixed - 3 years

Comparison Rate*

3.80

% p.a

Maximum LVR
95%
Real Time Rating™

2.40

/ 5
Monthly Repayment

$1,285

based on $300,000 loan amount for 25 years at 2.09%

Advertised Rate

2.09

% p.a

Fixed - 3 years

Comparison Rate*

3.80

% p.a

Maximum LVR
95%
Real Time Rating™

2.40

/ 5
Monthly Repayment

$1,285

based on $300,000 loan amount for 25 years at 2.09%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,285

based on $300,000 loan amount for 25 years at 2.09%

Quick home loan review

For Basic Fixed Home Loan 3 Years (First Home Buyers Deposit Scheme)

These are the benefits of this home loan.

  • Interest rates ranked in the best 20%
  • No ongoing fees
  • Suitable for low deposits
  • Parents can sign as guarantor
  • Extra repayments and redraw facility
  • Free redraw facility

These are the drawbacks of this home loan.

  • No offset account
  • Loan reverts to higher rate after fixed period
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Home loan overview

For Basic Fixed Home Loan 3 Years (First Home Buyers Deposit Scheme)

TMD

Details

Maximum LVR

95%

Total Repayments

Next LVR

Interest rate type

Fixed - 3 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

650

Application fee

0

Valuation fee

$0

Settlement fee

350

Other upfront fee

300

Ongoing fee

$0

Discharge fee

380

Application method

Online

Phone

In branch

Target Market Determination

Visit MyState Bank to view Target Market Determination.

Other Restrictions

These rates are only available for those applicants utilising the First Home Loan Deposit Scheme as part of their loan application. As such the applicants must meet all the required First Home Loan Deposit Scheme eligibility rules and be issued a scheme Guarantee Certificate by the National Housing Finance and Investment Corporation.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $300k to $700k.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 95 percent, which means it requires a minimum deposit of 5 percent

What's the maximum length for this loan?

MyState Bank allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

MyState Bank allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $650 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

Where can you apply for this loan?

MyState Bank makes it possible to apply for this product online. Apply here.

Can a broker help me with this loan?

Yes, this MyState Bank loan is available through a broker. Find a broker to help you with your needs.