BankVic - Fixed Rate Home Loan
Fixed | Fixed for 2 years | Owner Occupied | Principal & Interest | LVR up to 80% | Borrowing between $20,000 and $2,000,000
The BankVic Fixed Rate Home Loan offers an advertised interest rate of 5.95% p.a. and a comparison interest rate of 6.19% p.a.. The BankVic Fixed Rate Home Loan is suitable for Owner Occupiers with Fixed terms.
More BankVic Fixed Rate Home Loan details can be found below or visit BankVic to learn more or apply.
A Fixed rate loan for Owner Occupiers repaying the Principal & Interest with an advertised interest rate of 5.95% p.a. and a comparison interest rate of 6.19% p.a.
Advertised Rate
5.95% p.a. Fixed - 2 years
Comparison Rate
6.19% p.a. Fixed - 2 years
Application Fee
$600 one off
Loan To Value
80%
Interest
Rate Type
Fixed
Fixed Period
2
years
Advertised Rate
5.95% p.a.
Fixed - 2 years
Comparison Rate
6.19% p.a.
Fixed - 2 years
Calculation Frequency
Daily
Application Frequency
Monthly
Terms
Suitability
Owner Occupiers
Borrowing
$20,000 to $2.0m
Term
1 to 30
years
Loan To Value
80%
Repayment
Type
Principal & Interest
Frequency
Monthly, Weekly, Fortnightly
Extra Repayments
Yes
Fees
Application Fee
$600
one off
Valuation Fee
$300
per event
Settlement Fee
$409
per event
Ongoing Fee
$0
per month
Discharge Fee
$295
per event
Top Up Fee
$200
per event
Switch Loan Fee
$200
per event
Features
Redraw
No
Loan Offset
No
Loan Switching
Yes
Loan Top Up
Yes
Who is the product designed for?
These customers are likely to have the following objectives, needs, financial situation and must meet the eligibility criteria for this product:
Objectives
- Funding to build, buy or refinance a home or an investment property
- A fixed interest rate and repayment amount for the period of the fixed rate term
Needs
- A home loan to build, buy or refinance a property
- Access to personalised guidance and support from an experienced lender
- Individual assessment of loan serviceability
Financial Situation - Has sufficient disposable income to service a home loan over the life of the loan
- Has the funds to meet minimum deposit requirements
- May require the backing of a family guarantor
- Regular income may include penalty rates, overtime, and bonuses
Eligibility criteria - Eligible for BankVic membership
- Aged 18+ years
- No history of loan/credit default, bankruptcy, or insolvency
- Has sufficient disposable income to service a loan over the life of the loan
- Has the funds to meet minimum deposit requirements
- Approval subject to BankVic credit assessment.
Visit BankVic to view Target Market Determination Effective From: 2024-08-14.
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