RateCity.com.au
powering smart financial decisions
Summerland Credit Union

Equity Extra Overdraft

Advertised Rate

5.37

% p.a

Variable

Comparison Rate*

5.54

% p.a

Maximum LVR
95%
Real Time Rating™

0.85

/ 5
Monthly Repayment

$1,819

based on $300,000 loan amount for 25 years at 5.37%

Advertised Rate

5.37

% p.a

Variable

Comparison Rate*

5.54

% p.a

Maximum LVR
95%
Real Time Rating™

0.85

/ 5
Monthly Repayment

$1,819

based on $300,000 loan amount for 25 years at 5.37%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,819

based on $300,000 loan amount for 25 years at 5.37%

Quick home loan review

For Equity Extra Overdraft ($30k-$150k)

These are the benefits of this home loan.

  • Suitable for low deposits
  • Redraw facility available
  • Extra repayments and redraw facility

These are the drawbacks of this home loan.

  • No offset account
  • Higher than average interest rate
  • Ongoing fee
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Home loan overview

For Equity Extra Overdraft ($30k-$150k)

Details

Maximum LVR

95%

Total Repayments

Next LVR

Interest rate type

Variable

Borrowing range

Suitable for

Line of Credit, 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: $25

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$800

Application fee

$800

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$10 monthly

Discharge fee

$250

Application method

Online

Phone

Broker

In branch

Embed

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $30k to $150k.

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?

Summerland Credit Union allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Summerland Credit Union 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 $800 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $25 if you need to use it.

Where can you apply for this loan?

Summerland Credit Union makes it possible to apply for this product online. Apply here.