Australian Mutual Bank Your Way Plus Fixed Interest Only Home Loan Investor
Fixed rateOffsetRedraw
Get flexibility for your investment PLUS take advantage of our package benefits with special low rates interest only option and much more.
- Interest rate a year, from
- 6.79%
- Comparison rate
- 6.81%
- Upfront fees
- $850
- Annual fee
- $300
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.79% (1 year fixed, investment, interest only). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,395
- Total repayments
- $1,822,200
- Interest
- $1,222,200
Rates
Every rate Australian Mutual Bank 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 | Investment | Interest only | 0.1% to 60% | 6.79% | 6.81% |
| 1 year fixed | Investment | Interest only | 60.1% to 80% | 6.79% | 6.81% |
| 1 year fixed | Investment | Interest only | 80.1% to 90% | 6.89% | 7.27% |
| 1 year fixed | Investment | Interest only | 90.1% to 98% | 7.14% | 7.60% |
| 2 year fixed | Investment | Interest only | 0.1% to 60% | 6.94% | 6.87% |
| 2 year fixed | Investment | Interest only | 60.1% to 80% | 6.94% | 6.87% |
| 2 year fixed | Investment | Interest only | 80.1% to 90% | 7.29% | 7.34% |
| 2 year fixed | Investment | Interest only | 90.1% to 98% | 7.44% | 7.64% |
| 3 year fixed | Investment | Interest only | 0.1% to 60% | 7.04% | 6.93% |
| 3 year fixed | Investment | Interest only | 60.1% to 80% | 7.04% | 6.93% |
| 3 year fixed | Investment | Interest only | 80.1% to 90% | 7.29% | 7.36% |
| 3 year fixed | Investment | Interest only | 90.1% to 98% | 7.49% | 7.66% |
| 4 year fixed | Investment | Interest only | 0.1% to 60% | 7.24% | 7.04% |
| 4 year fixed | Investment | Interest only | 60.1% to 80% | 7.24% | 7.04% |
| 4 year fixed | Investment | Interest only | 80.1% to 90% | 7.54% | 7.47% |
| 4 year fixed | Investment | Interest only | 90.1% to 98% | 7.59% | 7.71% |
| 5 year fixed | Investment | Interest only | 0.1% to 60% | 7.29% | 7.12% |
| 5 year fixed | Investment | Interest only | 60.1% to 80% | 7.29% | 7.12% |
| 5 year fixed | Investment | Interest only | 80.1% to 90% | 7.64% | 7.55% |
| 5 year fixed | Investment | Interest only | 90.1% to 98% | 7.74% | 7.79% |
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
- $850
- Annual fee
- $300
- Monthly fee
- Not published
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 98%
- Loan amount
- From $150,000
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
$850
Typical upfront fees are $600.
Annual fee
$300
A typical annual fee is $350.
Smallest deposit
2%
Most loans need at least 10% of the price.
Pros and cons
Pros
- A smaller deposit. You can borrow with 2% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
- An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
- 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.
- Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
Nothing stands out.