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  4. The Basics Low Rate Home Loan Offer (LVR < 60%)

Important disclosure

Arab Bank Australia Ltd

Basic Low Rate Home Loan Offer

  • Owner Occupied
  • Variable
  • 40% min deposit
  • P&I

2024 Award Winner

Interest Rate

5.75%

p.a

Comparison Rate*

5.88%

p.a

Real Time Rating™
Tags
  • Owner Occupied
  • Variable
  • 40% min deposit
  • P&I
Interest Rate

5.75%

p.a

Comparison Rate*

5.88%

p.a

Monthly Repayment

$3,146

based on $500,000 loan amount for 25 years at 5.75%

Calculate your repayments for this loan

$

Your estimated repayment

$3,146

based on $500,000 loan amount for 25 years at 5.75%

Pros and cons

For The Basics Low Rate Home Loan Offer (LVR < 60%)

Benefits

  • Interest rates ranked in the best 20%
  • Extra repayments and redraw facility
  • Free redraw facility
  • Winner of Best Refinance Home Loan, RateCity Gold Awards 2024

Drawbacks

  • No offset account
  • Ongoing fee
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 60% of the property's value

Arab Bank Australia Variable Rate Home loan overview

For The Basics Low Rate Home Loan Offer (LVR < 60%)

Details

Maximum LVR

60%

Total Repayments

$943,660

View repayment schedule »

Interest rate type

Variable

Borrowing range

$50k - $100m
Calculate how much you can borrow

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Repayment type

Principal and Interest

Applicable states

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

Repayment options

Fortnightly, Monthly, Weekly

Target Market Determination

Visit Arab Bank Australia Ltd to view Target Market Determination.

Features

Extra repayments

Unlimited

Redraw facility

Redraw fee: $0

Split interest facility

Loan portability

Repayment holiday available

Allow guarantors

Available for first home buyers

Other benefits

Fees

Total estimated upfront fees

$600

Application fee

$600

Legal fee

$0

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$8

Discharge fee

$115

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Product data updated on 22 Dec 2024

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $50k to $99,999,999.

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?

Arab Bank Australia Ltd allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Arab Bank Australia Ltd 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 $600 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.

How do you apply for this loan?

To apply for this loan, please contact Arab Bank Australia Ltd.