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- Macquarie Bank
- Basic Home Loan (Principal and Interest) (LVR < 60%)
Basic Home Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.14%
Comparison rate* p.a.
6.16%
Basic Home Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.14%
Comparison rate* p.a.
6.16%
RateCity says
"Enjoy a home loan option from this major institution with a competitive rate, no ongoing fees and helpful loan features."
Calculate your repayments for this loan
$
Your estimated repayment
$3,043
based on 500000 loan amount for 25 years at 6.14%
Monthly Repayment
$3,043
Total interest
$595,446
Total payments
$1,095,446
Start date
05-2024
End date
05-2049
$1,095,446
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For Basic Home Loan
Benefits
- Interest rates ranked in the best 20%
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
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
Macquarie Bank Variable Rate Home Loan overview
For Basic Home Loan (Principal and Interest) (LVR < 60%)
Details
Maximum LVR
60%
Total repayments
$1,095,446
Interest rate type
Variable
Borrowing range
$150k - $10m
Suitable for
Owner Occupiers
Loan term range
0 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit Macquarie 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
$350
Application fee
$0
Legal fee
$350
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$400
