Finty
Gateway Bank

Gateway Bank Home Loan 5yr Fixed

Fixed rate

A home loan from Gateway Bank with fixed rates from 7.34% a year.

Written byDavid Boyd
Interest rate a year, from
7.34%
Comparison rate
8.26%
Upfront fees
$899
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 7.34% (5 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
$4,130
Total repayments
$1,486,709
Interest
$886,709

Rates

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

RatePropertyRepaymentsLVRInterest rateComparison rate
5 year fixedLive inPrincipal and interestAny7.34%8.26%

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
$899
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
No
Redraw
No
Highest LVR
95%
Loan amount
From $20,000 up to $2,000,000

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

$899

Typical upfront fees are $600.

Smallest deposit

5%

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.
  • Fixed rates on offer. You can fix for 5 years 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.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.