MyRate Advantage Loan

The MyRate Advantage Loan was designed to be one of the best all-round home loans available in Australia. It has one of the lowest variable interest rates on the market and is also very flexible and feature-packed (including no fees and free unlimited redraws).

This loan may be suitable if...

You are a homebuyer/investor after a low rate, fully-featured loan
You are looking to refinance your current mortgage (see how much you could save)
You are seeking to consolidate debt (secured against your property) at a low interest rate

Getting the Most of the Advantage Loan

Have your income go straight into the loan
Use your existing credit card to make all your monthly purchases
When your credit card bill is due, use the free redraw facility to pay it off from your Advantage Loan

The above procedure will minimise your interest by keeping as much of your savings as possible in your loan facility and offsetting the loan balance.

MyRate Advantage Loan features
Low variable interest rate	6.03% p.a. (for loans over $600k - 5.99% p.a.)
Comparison Rate^#	6.03% p.a. (for loans over $600k - 5.99% p.a.)
Application fees*	$0
Valuation fees*	$0
Legal fees*	$0
Settlement fees*	$0
Ongoing/Monthly fees*	$0
Redraw fees*	$0
Deferred establishment fees	Year 1: 1.00% of the original loan amount Year 2: 0.80% Year 3: 0.60% Year 4: 0.40% Year 5: 0.20% 6+ years: 0.00%
Minimum loan	$100k ($25k in combo)
Maximum loan	$2M (more with special approval)
Max LVR	95%
LMI Payable	Usually applies if your LVR > 80% (see your loan consultant for details)
Splits/Combination
Interest Only	Up to 5 years (monthly repayments only)
Repayment frequency	Fortnightly or monthly
Unlimited redraws*
Additional repayments*
Term	10 to 30 years
Direct debit
Salary crediting	(on Principal & Interest loans only)
Deposit Book*
Cheque/ATM/Credit Card/Eftpos	Learn more
Internet/Phone Banking/BPay
Portable
Statements	Half Yearly