Finty
BankVic

BankVic Fixed Rate Home Loan - 4 years

Variable or Fixed rate

Lock in peace of mind with a fixed rate home loan enjoy low rates and the certainty that your repayments won t change during the fixed term.

Written byDavid Boyd
Interest rate a year, from
6.35%
Comparison rate
Not published
Upfront fees
$1,930
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.35% (variable, 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
$3,733
Total repayments
$1,344,029
Interest
$744,029

Rates

Every rate BankVic publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny6.35%–
4 year fixedLive inPrincipal and interestAny6.79%6.56%

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
$1,930
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
No
Redraw
No
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.

Variable rate

6.35%

For a home you live in, paying principal and interest. Typical is 6.62%.

Upfront fees

$1,930

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.
  • 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 4 years if you'd like repayments that don't change for a while.

Cons

  • Higher upfront fees. $1,930, 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.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.