Credit Union SA 1-Year Fixed XL Home Loan Package
Fixed rateRedraw
Our 1 year Fixed Home Loan Package is perfect if you have a strict budget as you’ll know exactly what your repayments will be. XL Fixed Package Home Loans are available for 31 to 40 years, for properties located in South Australia. Lending criteria applies and a suitability assessment will be complated as part of the application process. Plus you pay no monthly or redraw fees. The Credit Union SA Fixed Home Loan Package offers a fantastic collection of benefits across our Home Loans, Visa Credit Card, Personal Loans, Term Deposits and more. You pay an annual fee of $395.
- Interest rate a year, from
- 6.79%
- Comparison rate
- 7.55%
- Upfront fees
- $200
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.79% (1 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
- $3,908
- Total repayments
- $1,406,720
- Interest
- $806,720
Rates
Every rate Credit Union SA 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 | Live in | Principal and interest | 1% to 80% | 6.79% | 7.55% |
| 1 year fixed | Live in | Principal and interest | 80.01% to 97% | 7.84% | 7.66% |
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
- $200
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 97%
- 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
$200
Typical upfront fees are $600.
Smallest deposit
3%
Most loans need at least 10% of the price.
Pros and cons
Pros
- A smaller deposit. You can borrow with 3% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
- 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 year if you'd like repayments that don't change for a while.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.