SmartSaver Variable SmartSaver Variable LVR <90% (Owner Occupied)
4.04%p.a Standard Variable
About Adelaide Bank
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 90% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Equity and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 5 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 5 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Loans with LVR greater than 90% must attain a serviceability result of at least 1.2. The SmartSaver Home Loan is designed for customers purchasing a residential property or refinancing their existing loan that require a basic home loan. SmartSaver offers a discounted variable rate and no monthly administration fee whilst still having the flexibility of unlimited extra repayments, redraw and a choice of repayment frequency. Purpose: Purchase or refinance of a residential property. Lending Restrictions: - no construction - no land - no Lo Doc - no Go Between - maximum $50,000 cash out total borrowings - cannot fix rate - no company applicants - no trust applicants - no overseas applicants - no non-permanent Australian resident applicants -No applicants who have been self employed for less than 2 years. Repayments: Monthly repayments (irrespective of any additional repayments) must be made prior to or on the anniversary date of settlement. More frequent payments are permitted (weekly/fortnightly). Principal and Interest: Principal and interest repayments are required during full term of the loan. Interest Only: LVR <90% only Select up to 10 years interest only, converting to principal and interest for the remainder of the loan term. At the end of the initial interest only period a further interest only period may be negotiated with a full reassessment in line with Lending Policy. A loan variation fee may apply. Voluntary repayments: Additional repayments may be made at any time without penalty. Credit increases available. A Credit Increase fee and Security Handling fee is payable. The minimum credit increase amount that can be applied for is $10,000. Note: Not available during a fixed rate or Go-Between period. Cash out is limited to $50,000 total borrowings, if customer has previously taken cash out as part of borrowings, the amount of the cash out is to be subtracted from cash out available for further borrowings. (e.g) If customer received $10,000 cash out as part of initial borrowings, only a further $40,000 will be available for future borrowings on the loan. Redraw available. Minimum redraw of $500. Free Online/Phone banking redraws. Manual redraws - $50. Security: Registered first mortgage only, no second mortgages. Maximum of 3 securities. Credit History: Up to 2 Defaults, Aggregate value less than $1,000. Paid for at least 6 months.
LMI is required on loans with >80% LVR. 90% maximum LVR (including LMI) Interest only loans will revert to a 70% maximum Loan to Valuation ratio (LVR) inclusive of LMI for both owner occupied and investment loans. Go-Between/briding loans where IO is sought on the End Debt is subject to max LVR 70%
Genuine savings of 5% is required over a 3 month period on a Full Doc loan if the LVR is over 80%. Under 80% no genuine savings required.
Loan Variation Fee: Up to $350 Split Loan Fee: $100 per split Search Processing Fee: $50 per search. Additional documentation fee $200(consolidation of the additional security documentation fee & company trust fee). Manual Redraw Fee: $50 Additional fees are payable if more than one security property.