Gateway Bank Inv Premium Package
Variable rateOffsetRedraw
A home loan from Gateway Bank with variable rates from 6.74% a year.
- Interest rate a year, from
- 6.74%
- Comparison rate
- 7.02%
- Upfront fees
- $299
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.74% (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
- $3,888
- Total repayments
- $1,399,536
- Interest
- $799,536
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.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Investment | Principal and interest | Any | 6.74% | 7.02% |
| Variable | Investment | Principal and interest | Any | 6.84% | 7.11% |
| Variable | Investment | Principal and interest | Any | 6.88% | 7.15% |
| Variable | Investment | Principal and interest | Any | 6.89% | 7.16% |
| Variable | Investment | Principal and interest | Any | 6.95% | 7.22% |
| Variable | Investment | Principal and interest | Any | 7.09% | 7.36% |
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
- $299
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 90%
- Loan amount
- From $150,000 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
$299
Typical upfront fees are $600.
Smallest deposit
10%
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.
Cons
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.