Bank of us FlexiChoice Residential Investment Home Loan
Variable or Fixed rateRedraw
If you want a residential investment loan with great pricing and flexibility, but without the need for an offset account, then our FlexiDiscount Residential Investment Home Loan with the option of eit
- Interest rate a year, from
- 6.44%
- Comparison rate
- 6.46%
- Upfront fees
- $1,550
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.44% (variable, investment, 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
- $3,769
- Total repayments
- $1,356,755
- Interest
- $756,755
Rates
Every rate Bank of us 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 | Up to 60% | 6.44% | 6.46% |
| Variable | Investment | Principal and interest | 60% to 70% | 6.44% | 6.46% |
| Variable | Investment | Principal and interest | 70% to 80% | 6.49% | 6.51% |
| Variable | Investment | Principal and interest | 80% to 90% | 6.89% | 6.96% |
| Variable | Investment | Principal and interest | Over 90% | 7.64% | 7.74% |
| 1 year fixed | Investment | Principal and interest | Up to 60% | 6.74% | 6.50% |
| 1 year fixed | Investment | Principal and interest | 60% to 70% | 6.74% | 6.50% |
| 1 year fixed | Investment | Principal and interest | 70% to 80% | 6.79% | 6.55% |
| 1 year fixed | Investment | Principal and interest | 80% to 90% | 6.94% | 6.96% |
| 1 year fixed | Investment | Principal and interest | Over 90% | 7.04% | 7.67% |
| 2 year fixed | Investment | Principal and interest | Up to 60% | 6.74% | 6.52% |
| 2 year fixed | Investment | Principal and interest | 60% to 70% | 6.74% | 6.52% |
| 2 year fixed | Investment | Principal and interest | 70% to 80% | 6.79% | 6.57% |
| 2 year fixed | Investment | Principal and interest | 80% to 90% | 6.94% | 6.97% |
| 2 year fixed | Investment | Principal and interest | Over 90% | 7.04% | 7.61% |
| 3 year fixed | Investment | Principal and interest | Up to 60% | 6.79% | 6.57% |
| 3 year fixed | Investment | Principal and interest | 60% to 70% | 6.79% | 6.57% |
| 3 year fixed | Investment | Principal and interest | 70% to 80% | 6.84% | 6.62% |
| 3 year fixed | Investment | Principal and interest | 80% to 90% | 7.09% | 7.02% |
| 3 year fixed | Investment | Principal and interest | Over 90% | 7.19% | 7.60% |
| 4 year fixed | Investment | Principal and interest | Up to 60% | 6.89% | 6.63% |
| 4 year fixed | Investment | Principal and interest | 60% to 70% | 6.89% | 6.63% |
| 4 year fixed | Investment | Principal and interest | 70% to 80% | 6.94% | 6.68% |
| 4 year fixed | Investment | Principal and interest | 80% to 90% | 7.09% | 7.03% |
| 4 year fixed | Investment | Principal and interest | Over 90% | 7.19% | 7.56% |
| 5 year fixed | Investment | Principal and interest | Up to 60% | 7.09% | 6.75% |
| 5 year fixed | Investment | Principal and interest | 60% to 70% | 7.09% | 6.75% |
| 5 year fixed | Investment | Principal and interest | 70% to 80% | 7.14% | 6.81% |
| 5 year fixed | Investment | Principal and interest | 80% to 90% | 7.29% | 7.14% |
| 5 year fixed | Investment | Principal and interest | Over 90% | 7.39% | 7.62% |
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
- $1,550
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 90%
- Loan amount
- Not published
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
$1,550
Typical upfront fees are $600.
Smallest deposit
10%
Most loans need at least 10% of the price.
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.
- 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
- Higher upfront fees. $1,550, above the typical $600, which adds to the cash you need at settlement.
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
- A $40 late payment fee. Setting up automatic repayments avoids it.