ubank Neat - INV Variable P&I
Variable rateRedraw
A low variable rate home loan with no ongoing annual fees. Great if you don't need an offset account (investment, principal and interest loan).
- Interest rate a year, from
- 6.44%
- Comparison rate
- 6.46%
- Upfront fees
- $250
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.44% (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
- $3,769
- Total repayments
- $1,356,755
- Interest
- $756,755
Rates
Every rate ubank 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 | Up to 60% | 6.44% | 6.46% |
| Variable | Investment | Principal and interest | 60% to 70% | 6.49% | 6.51% |
| Variable | Investment | Principal and interest | 70% to 80% | 6.54% | 6.56% |
| Variable | Investment | Principal and interest | 80% to 85% | 7.29% | 7.31% |
| Variable | Investment | Principal and interest | 85% to 90% | 7.39% | 7.41% |
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
- $250
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 90%
- Loan amount
- From $80,000 up to $5,000,000
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
$250
Typical upfront fees are $600.
Smallest deposit
10%
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.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.