Basic Variable Basic Variable - LVR >80% to 85% <$500K (No LMI) (Interest Only) (Owner Occupied)
4.62%p.a Basic Variable
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 85% 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", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].
- 1 - 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 repaments 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
Refinance loan with cash out only available for new customers with lending >$500K. For new to bank customers with lending <$500K, the maximum cash out will be capped at 5% of the loan being refinanced. (Note Cash out includes credit card/personal loan consolidation) Rates quoted are subject to having Lenders Mortgage Insurance. Loading applies to loans with an LVR >80% and assessed under the No LMI policy. For clients who are looking to enter the property market with a low interest rate and lower repayments. A no frills mortgage for home or investment purposes. A low variable rate. Zero account-keeping fees. Redraw of available funds. Flexible repayment options - weekly, fortnightly or monthly. The freedom to make extra repayments without penalty. Up to four split accounts available with a minimum amount of $20,000 per loan account. Five years interest-only option available at the same low rate. The choice to split your loan with a Standard Fixed Rate loan. Cash Out only available with refinances or equity releases (not new purchases). Internet / Phone Banking is conditional on having other Citibank transaction accounts. Loan Redraw $0 online. Otherwise fees occur. Overseas Income/Borrowers Accordingly given increasing difficulty in confirming income from certain countries and to maintain a balanced portfolio without further erosion to our service proposition, when a loan is defined as an Overseas Loan, for capacity purposes we will ONLY rely on currencies from the following list: Canadian Dollar (CAD) Danish Kroner (DKK) European Union Euro (EUR) Hong Kong Dollar (HKD) Japanese Yen (JPY) New Zealand Dollar (NZD) Swedish Kroner (SEK) Singaporean Dollar (SGD) South Korean Won (KRW) Swiss Franc (CHF) UK Sterling (GBP) United States Dollar (USD) In addition, no loan can be approved that relies solely on rental income. All documentation must be translated into English and all foreign income from the above list must be converted to AUD before inclusion in the capacity test calculator. The calculator will discount the income by 10%. Income earned in a foreign currency other than the currency of the applicants nationality (Australian citizens / Permanent Residency Status (PR) excepted) is NOT permitted for use in the capacity test.
LVR without LMI 80-85% For loans with an LVR over 80% LMI will be required. Maximum LVR up to 90% plus LMI. Maximum loan amounts are subject to Location Classifications, see Residential Credit Guidelines.
For loans requiring LMI: Where the LSR is above 85%, the borrower must provide at least 5% of the purchase price from genuine savings. For loans not requiring LMI: While there is no genuine savings requirement, applicants will have to provide evidence of funds to complete the transaction. The funds can be: - Gifts a statutory declaration is required stating that the funds is gift and is not required to be repaid. - Borrowed must be included in the serviceability calculation.
Quoted application fee includes the cost of valuation up to $500. Loan increase fee: $300 plus valuation cost. Portability fee: $450 (includes the cost of valuation up to $500). Additional split accounts fee: Nil for new business, $150 per request for variations. Credit limit re-arrangement fee: $150 per request