All-In-One Line of Credit

The MyRate Line of Credit combines a nil interest Visa card (NIVA), no fixed loan term and interest-only minimum repayments.

This loan may be suitable if...

• You are a homebuyer/investor after a low-rate fully-flexible loan package
• You are after a loan with flexible transaction access but don’t want to reduce your borrowing power by keeping your current credit card
• You are self-employed or make financial transactions very frequently

Using the Line of Credit

• Split this loan with the Advantage Loan to minimise your interest rate (allocating only the small portion you need to the Line of Credit)
• Get your salary and all other income deposited into your Line of Credit
• Use your MyRate nil interest Visa (NIVA) for all purchases, and to access cash out
• Each month, the income you deposited will automatically be credited to your NIVA balance, Line of Credit and Advantage Loan as appropriate.

NOTE: If you already have a credit card (that you can pay off in addition to your MyRate loan) and don’t conduct many monthly transactions, you may not need a Line of Credit. In this case you could save more by getting the lower rate Advantage Loan as the full facility and utilising unlimited free redraws and internet banking to achieve the same (see the Advantage Loan page to learn more).

Contact us if you'd like to discuss these or other options that will minimise interest and maximise convenience.