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- Standard Variable Home Loan (Interest Only)
Standard Variable
- Owner Occupied
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
8.77%
Comparison rate* p.a.
8.85%
Standard Variable
- Owner Occupied
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
8.77%
Comparison rate* p.a.
8.85%
Calculate your repayments for this loan
$
Your estimated repayment
$3,654
based on 500000 loan amount for 25 years at 8.77%
Monthly Repayment
$3,654
Total interest
$1,315,500
Total payments
$1,315,500
Start date
05-2024
End date
05-2049
$1,315,500
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For Standard Variable
Benefits
- No ongoing fees
- 100% full offset account
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
MyState Bank Variable Rate Home Loan overview
For Standard Variable Home Loan (Interest Only)
Details
Maximum LVR
80%
Total repayments
$1,315,500
Interest rate type
Variable
Borrowing range
$30k - $3m
Suitable for
Owner Occupiers
Loan term range
5 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit MyState Bank Limited to view Target Market Determination.
Features
Extra repayments
Unlimited
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
$950
Application fee
$600
Legal fee
$0
Valuation fee
$0
Settlement fee
$350
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$380
