Low Rate Essentials Int Only
Low Rate Essentials Int Only
Category: Home Loans Last Updated November 22, 2023 Effective November 1, 2024
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied Interest Only product. Additional Information Low Rate Essentials I/O - <= 80% LVR
Interest Rate
7.29% PA
7.29% PA
Comparison Rate
7.31%PA*
7.31%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
OWNER_OCCUPIED, VARIABLE, 9.01%
- Lending Rate Type: Variable
- Interest Rate: 9.01%, Comparison Rate 9.04%
- Repayment Type: Interest Only
- Loan Purpose: Owner Occupied
OWNER_OCCUPIED, VARIABLE, 9.41%
- Lending Rate Type: Variable
- Interest Rate: 9.41%, Comparison Rate 9.44%
- Repayment Type: Interest Only
- Loan Purpose: Owner Occupied
Product Features
- Digital Banking Additional Information: Access is available to online banking features for the product
- Other Additional Information: Options to split variable options and fixed rate. Interest rate lock for up to 90 days on fixed rate loans.
- Redraw Additional Information: Home loan redraw facilities allow borrowers to withdraw the additional funds they put into their variable rate home loan.
- Unlimited Txns Additional Information: Unlimited extra repayments
Product Eligibility
- Min Age - 18.
Bank Fees and Charges
- Discharge Fee - First Security (Exit), Amount: 300.00. Additional Information: Discharge Fee - First Security
- Legal Fee (Upfront), Amount: 275.00. Additional Information: Legal Fee
- Top-up Fee (Transaction), Amount: 200.00. Additional Information: Top up fee
- Switch Fee (Event), Amount: 125.00. Additional Information: Payable if Gateway agrees to vary the Loan Agreement on existing Gateway loan as follows: Product switch (e.g. from variable rate to a fixed rate) Repayment switch (e.g. P&I to Interest Only) Split (e.g. into part variable rate and part fixed rate)
- Security Variation Fee (Event), Amount: 200.00. Additional Information: Payable if Gateway agrees to vary the security on an existing loan
- Discharge Fee - Per Additional Security (Exit), Amount: 95.00. Additional Information: Discharge Fee - Per Additional Security
- Establishment Fee (Upfront), Amount: 0.00. Additional Information: Payable at settlement of new loan, and may be payable at substitution of security or when adding a new security
- Valuation Fee (Upfront), Amount: 0.00. Additional Information: Payable if valuation required per property Applies to standard single residential dwellings to $1 million in Metro locations and $500,000 in Regional locations (maximum land area 2.2ha/5 acres)
- Split Fee (Upfront), Amount: 99.00. Additional Information: Two loan accounts (i.e. Variable & Fixed) free. Fee for subsequent splits
- Exit Fee (Exit), Amount: 0.00. Additional Information: Nil
- Annual Package Fee (Upfront), Amount: 0.00. Additional Information: Payable at settlement and then again on each anniversary. Nil for Low Rate Essentials
- Mortgage Resgistration Fee (Upfront), Amount: 0.00. Additional Information: Government charges at cost
- Additional Valuation Fee (Event), Amount: 0.00. Additional Information: Payable if we or you decide to obtain an additional valuation report (which we may do at any time). At Cost
Limitations & Restrictions (Constraints)
- Max Limit of 2000000.00
- Min Limit of 50000.00
