Interest Only Loan

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Interest Only Home Loan

Our Interest Only option offers you flexibility on your home loan. Allows you to make Interest only payments on your home loan.

e.g For those who have purchased land, and now wish to start building their new family home.

The interest rate is fixed for one or two years initially; it may then be transferred to the variable rate, or renegotiated for a further 12/24 months at the prevailing Interest Only rate.

3.99% pa
interest rate

3.52% pa comparison rate¹

100% offset
No Redraw fees
No ongoing fees
Variable and lump sum repayments
Automatic repayment from salary

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How do I apply?

What documents do I need?

Evidence of Income:

Copy of 2 current pay slips or a letter from your employer stating commencement date and salary details
If your pay is not currently deposited to an LCU account, please supply 3 months' of complete bank statements
Proof and source of other income
If self-employed please provide full financial statements and tax assessments for the last 2 years and current figures no more than 3 months old
A copy of a recent rental lease or bank statements showing receipt of rent.

Evidence of Commitments:

Statement of your home and/or other loans
A copy of a recent rental lease or if boarding, a letter from the owner
Latest 3 months' of statements for all credit cards and store cards

Additional information

Rates are subject to change. Please refer to our rates and fees page.
¹Comparison rate based on a secured loan of $150,000 over 25 years. Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate.

Key features
Calculator

Interest Only Home Loan 1 or 2 year fixed
Interest Rates
Fixed Interest Rate	3.99% pa
Fixed Rate Term in Years	1 or 2 years
Comparison Rate	3.52% pa¹
Fees
Establishment Fee	$903.60
Annual Fee	$0
Monthly Fee	$0
Redraw Fee	$0
Features
Automatic Deposits (salary / account)	Yes
Minimum Amount	$50,000
Maximum borrowing capacity (LVR)	80% No LMI, 95% with LMI
Minimum Term in Years	1 year
Maximum Term in Years	2 years
Redraw Facility	Yes
Repayments	Monthly

¹ Warning: This comparison rate applies only to the examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison Rate is calculated on a loan amount of $150,000 over a term of 25 years based upon monthly repayments. These rates are for secured loans only.

Interest Only Loan

Interest Only Home Loan

Evidence of Income:

Evidence of Commitments:

LCU - Banking App

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