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Teachers Mutual Bank

Your Way Plus Fixed Home Loan

Advertised Rate

2.04

% p.a

Fixed - 3 years

Comparison Rate*

2.86

% p.a

Maximum LVR
60%
Real Time Rating™

3.59

/ 5
Monthly Repayment

$1,490

based on $350,000 loan amount for 25 years at 2.04%

Advertised Rate

2.04

% p.a

Fixed - 3 years

Comparison Rate*

2.86

% p.a

Maximum LVR
60%
Real Time Rating™

3.59

/ 5
Monthly Repayment

$1,490

based on $350,000 loan amount for 25 years at 2.04%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,490

based on $350,000 loan amount for 25 years at 2.04%

Quick home loan review

For Your Way Plus Fixed Home Loan 3 year (Principal and Interest) (LVR < 60%)

These are the benefits of this home loan.

  • Interest rates ranked in the best 20%
  • No upfront fees
  • 100% full offset account
  • Split account option

These are the drawbacks of this home loan.

  • No extra repayments
  • No redraw facility
  • Loan reverts to higher rate after fixed period
  • Not available for first home buyers
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 60% of the property's value
  • No repayment holidays

Home loan overview

For Your Way Plus Fixed Home Loan 3 year (Principal and Interest) (LVR < 60%)

Details

Maximum LVR

60%

Total Repayments

Interest rate type

Fixed - 3 years

Borrowing range

Suitable for

Owner Occupiers

Loan term range

6 - 30 years

Principal & interest

Interest only

Applicable states

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

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Not Allowed

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

0

Application fee

0

Valuation fee

$0

Settlement fee

0

Other upfront fee

0

Ongoing fee

$300 annually

Discharge fee

75

Application method

Online

Phone

Broker

In branch

Other Benefits

Refer to the Package Terms and Conditions for Eligibility Criteria and other product benefits. 5bps discount on variable interest rates are available for essential workers subject to eligibility. Up to 10% discount on home and contents insurance (Allianz Insurance) Personal Loan application fee waived. All products are originated on relevant LVR tiers based on the LVR of the home loan at the time of origination. Fixed Rate loans will roll to the equivalent Variable rate LVR tier of the LVR at origination. Movement between the LVR tiers are subject to switching rules.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $150k to $5,000,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 60 percent, which means it requires a minimum deposit of 40 percent

What's the maximum length for this loan?

Teachers Mutual Bank allows you to have this loan for a range of 6 to 30 years.

How often can you make repayments?

Teachers Mutual 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 $0 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

Where can you apply for this loan?

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