Arab Bank Australia The Basics Investment Loan
Variable rateRedraw
This is our most simple and lowest variable rate investment loan, designed to make borrowing money for your investment property as affordable as possible. If you need all the basics, then take a close look at The Basics Investment Loan.
- Interest rate a year, from
- 9.79%
- Comparison rate
- 9.92%
- Upfront fees
- $600
- Annual fee
- Not published
- Monthly fee
- $8
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 9.79% (variable, investment, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $5,181
- Total repayments
- $1,865,002
- Interest and monthly fees
- $1,265,002
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 |
|---|---|---|---|---|---|
| Variable | Investment | Principal and interest | Any | 9.79% | 9.92% |
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
- $8
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- Not published
- 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.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- Redraw. You can take back extra repayments later if you need the money.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
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.