Arab Bank Australia Fixed Rate Home Loan (Owner Occupier)
Fixed rate
Our Fixed Rate Home Loan protects you from ongoing interest rate rises, while giving you the added security of consistent repayments during the first phase of your loan.
- Interest rate a year, from
- 6.65%
- Comparison rate
- 7.93%
- Upfront fees
- $600
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.65% (1 year fixed, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,852
- Total repayments
- $1,386,644
- Interest
- $786,644
Rates
Every rate Arab Bank Australia publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| 1 year fixed | Live in | Principal and interest | Up to 60% | 6.65% | 7.93% |
| 2 year fixed | Live in | Principal and interest | Up to 60% | 6.80% | 7.83% |
| 3 year fixed | Live in | Principal and interest | Up to 60% | 7.65% | 7.97% |
| 4 year fixed | Live in | Principal and interest | Up to 60% | 7.90% | 8.03% |
| 5 year fixed | Live in | Principal and interest | Up to 60% | 8.10% | 8.12% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $600
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- No
- Highest LVR
- 60%
- Loan amount
- From $50,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Upfront fees
$600
Typical upfront fees are $600.
Smallest deposit
40%
Most loans need at least 10% of the price.
Pros and cons
Pros
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
- A $35 late payment fee. Setting up automatic repayments avoids it.