Important disclosure
Eco Home Loan
Interest Rate
5.84%
p.a
Comparison Rate*
5.89%
p.a
5.84%
p.a
5.89%
p.a
$0
based on $500,000 loan amount for 25 years at 5.84%
Eco Home Loan
Find your ideal home loan from one of the 2 home loans from Summerland Bank
Principal and Interest (P&I)
| Loan type | Loan to value ratio | Interest rate | Comparison rate | |
|---|---|---|---|---|
Variable | Up to 60% | 5.84% p.a. | 5.89% p.a. | Product Info |
Variable | Up to 80% | 5.94% p.a. | 5.99% p.a. | Product Info |
Interest only
| Loan type | Loan to value ratio | Interest rate | Comparison rate |
|---|
Summerland Bank Variable Rate Home loan overview
For Eco Home Loan (New Customer) (LVR < 60%)
Details
Maximum LVR 60% | Total Repayments |
Interest rate type Variable | Borrowing range
$150k
-
$100m
|
Suitable for Owner Occupiers | Loan term range 1 - 30 years |
Repayment type Principal and Interest | Applicable states ACT, NSW, NT, QLD, SA, TAS, VIC, WA |
Target Market Determination Visit Summerland Bank 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 $500 | Application fee $0 |
Legal fee $200 | Valuation fee $300 |
Settlement fee $0 | Other upfront fee $0 |
Ongoing fee $0 | Discharge fee $250 |
Pros and cons
For Eco Home Loan (New Customer) (LVR < 60%)
Benefits
- Interest rates ranked in the best 20%
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Green home loan
Drawbacks
- No offset account
- Higher than average upfront fee
- Discharge fee at end of loan
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
FAQs
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