Re: 2.99% interest rate is that real? What's the catch?
Posted: Wed Jul 17, 2019 6:18 pm
Hello Heck. Welcome to the forums.
Greater Bank’s 1 year fixed rate home loan reverts to 4.35% p.a. after the introductory/honeymoon period. Compare that with a 3.44% p.a. variable rate home loan, a loan comparison shows that on a $1.2 million loan, you’re saving $204,871 in interest with the variable rate home loan even using Greater Bank’s own loan comparison calculator.
You can check out the best interest rates on offer from our panel of lenders. However, there is more to a home loan than just the interest rates.
Give us a call on 1300 889 743 or fill in our free assessment form to get the best deal on your home loan.
Cheers,
Greater Bank’s 1 year fixed rate home loan reverts to 4.35% p.a. after the introductory/honeymoon period. Compare that with a 3.44% p.a. variable rate home loan, a loan comparison shows that on a $1.2 million loan, you’re saving $204,871 in interest with the variable rate home loan even using Greater Bank’s own loan comparison calculator.
- This is similar to a bait & switch rate.
- Sticking to a low upfront & transparent rate has long term savings.
- Cheap can mean nasty (low cost, low value).
- Variable loan offers offset and redraw facilities to save further interest & offer flexibility with banking.
- Larger banks may be less susceptible to future rate fluctuations.
You can check out the best interest rates on offer from our panel of lenders. However, there is more to a home loan than just the interest rates.
Give us a call on 1300 889 743 or fill in our free assessment form to get the best deal on your home loan.
Cheers,