Finty
BankWAW

BankWAW Flexible Choice Owner Occupied

Variable or Fixed rateOffsetRedraw

A home loan from BankWAW with variable and fixed rates from 6.30% a year.

Written byDavid Boyd
Interest rate a year, from
6.30%
Comparison rate
6.84%
Upfront fees
$1,150
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 6.30% (3 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
$3,714
Total repayments
$1,336,981
Interest
$736,981

Rates

Every rate BankWAW 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 interest1% to 80%7.24%7.29%
1 year fixedLive inPrincipal and interestUp to 60%6.45%6.98%
1 year fixedLive inPrincipal and interest60% to 80%6.55%6.99%
2 year fixedLive inPrincipal and interestUp to 60%6.35%6.91%
2 year fixedLive inPrincipal and interest60% to 80%6.45%6.93%
3 year fixedLive inPrincipal and interestUp to 60%6.30%6.84%
3 year fixedLive inPrincipal and interest60% to 80%6.40%6.87%
4 year fixedLive inPrincipal and interestUp to 60%6.70%6.93%
4 year fixedLive inPrincipal and interest60% to 80%6.80%6.97%
5 year fixedLive inPrincipal and interestUp to 60%6.80%6.95%
5 year fixedLive inPrincipal and interest60% to 80%6.90%7.00%

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
$1,150
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
80%
Loan amount
From $45,000 up to $3,500,000

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

7.24%

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

Comparison rate

7.29%

For the same rate. Typical is 6.70%.

Upfront fees

$1,150

Typical upfront fees are $600.

Smallest deposit

20%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • 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.
  • 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.
  • 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. $1,150, above the typical $600, which adds to the cash you need at settlement.

Similar home loans

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