Northern Inland Credit Union Value Home Loan - Fixed 12M
Fixed rateRedraw
Enjoy the security of a fixed rate for 1 year
- Interest rate a year, from
- 5.99%
- Comparison rate
- 5.87%
- Upfront fees
- Not published
- Annual fee
- Not published
- Monthly fee
- $8
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 5.99% (1 year fixed, any, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,601
- Total repayments
- $1,296,521
- Interest and monthly fees
- $696,521
Rates
Every rate Northern Inland Credit Union 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 | Any | Principal and interest | Any | 5.99% | 5.87% |
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
- Not published
- Annual fee
- Not published
- Monthly fee
- $8
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 80%
- Loan amount
- From $500,000 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.
Smallest deposit
20%
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.
- Redraw. You can take back extra repayments later if you need the money.
- 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.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
- A $15 late payment fee. Setting up automatic repayments avoids it.