Realise your home ownership dream, without compromising on features.
Our Premium Choice Home Loan is packed full of features for aspiring home owners or investors, offering either a fixed or variable interest rate and a 100% offset account to help pay off your loan sooner.
100% offset account
Helps to save you money and pay off your loan sooner.
No ongoing fees
No ongoing monthly loan fees 1
Pay off your loan sooner
Additional repayment options without penalty applicable to variable rate loans only 2
- 100% offset facility available
- Fixed and Variable interest rate option loans
- Available to individuals, companies and trusts
- No ongoing monthly loan fees 1
- Additional repayment options without penalty applicable to variable rate loans only 2
- Redraw available online or via app without fees 3
- Minimum loan amount $50,000
- Max. loan amount up to 95% of the property value +
- Loan period up to 30 years
- Interest only option available ^
- Optional Fixed Rate Lock Fee #
- Flexible repayment options available weekly, fortnightly or monthly
Owner Occupied Loan Interest Rates
| Fixed term < | Loan to Value Ratio (LVR) | Fixed Interest Rate + | Comparison Rate * |
|---|---|---|---|
| 1 year < | n/a | 6.29% p.a + | 7.37% p.a* |
| 2 years < | LVR less than or equal to 90% | 6.37% p.a + | 7.28% p.a* |
| 3 years < | LVR less than or equal to 90% | 6.47% p.a + | 7.21% p.a* |
| 2 years < | LVR greater than 90% | 6.57% p.a + | 7.32% p.a* |
| 3 years < | LVR greater than 90% | 6.67% p.a + | 7.27% p.a* |
Rates effective from 23/01/2024.
Owner Occupied Loan Interest Rates
| Loan Amount | Variable Interest Rate + | Comparison Rate * |
|---|---|---|
| Greater than $50,000 | 7.45% p.a + | 7.50% p.a* |
Rates effective from 23/01/2024.
Investment Loan Interest Rates
| Fixed Term < | Loan to Value Ratio (LVR) | Fixed Interest Rate + | Comparison Rate* |
|---|---|---|---|
| 1 year < | n/a | 6.39% p.a + | 7.88% p.a* |
| 2 years < | LVR less than or equal to 90% | 6.49% p.a + | 7.74% p.a* |
| 3 years < | LVR less than or equal to 90% | 6.57% p.a + | 7.63% p.a* |
| 2 years < | LVR greater than 90% | 6.69% p.a + | 7.78% p.a* |
| 3 years < | LVR greater than 90% | 6.77% p.a + | 7.69% p.a* |
Rates effective from 23/01/2024.
Investment Loan Interest Rates
| Loan Amount | Variable Interest Rate + | Comparison Rate * |
|---|---|---|
| $50,000 – $500,000 | 8.01% p.a + | 8.06% p.a* |
| Over $500,001 | 7.87% p.a + | 7.92% p.a* |
Rates effective from 23/01/2024.
Credit eligibility criteria, terms and conditions, fees and charges apply. The Capricornian Ltd. ABN 54 087 650 940. AFSL/Australian Credit Licence 246780.
*This comparison rate is based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
1 Application fees apply.
2 Additional repayments up to $10,000 without penalty in any twelve (12) month period. Applicable to fixed rate loans only.
3 In branch staff assisted redraw fee of $30 applies. Redraw is not available on fixed rate loan options.
+ Lenders Mortgage Insurance (LMI) is required where the loan is greater than 80% of the value of the security property. This may vary based on the size and location of the property.
^ An increase margin of 0.50% will apply to interest only Owner Occupied variable and fixed rate loans. An increase margin of 0.30% will apply to interest only Investment variable and fixed rate loans. Lenders Mortgage Insurance (LMI) is required for Interest Only loans where the loan is greater than 78% of the value of the security property.
#Fixed Rate Lock Fee allows you to secure a guaranteed fixed interest rate to protect you against potential interest rate increases that may occur during the settlement period of your loan. The Fee is 0.15% of the amount of credit or a minimum of $395. The fee will guarantee the Interest rate up to 60 days from the date of the Offer and Loan Contract.
< At conclusion of the fixed rate period, the loan converts to the Premium Choice Home Loan Variable Rate applicable to the loan amount at funding.
Consider the relevant Target Market Determination (TMD).
To be eligible you will need to be:
- At least 18 years old
- An Australian citizen or permanent resident
If you are seeking formal approval, whether applying online or in person you will need:
- Two forms of ID
- Three payslips (or other proof of income if you’re casual or self-employed)
- Evidence of what you own (assets)
- Evidence of what you owe (liabilities)
- Contract of sale
Following the assessment process, further information and documentation may be required.
Work out what repayments you may be able to afford by using a borrowing calculator. We use a range of criteria to decide how much you are eligible to borrow, but you also need to be comfortable that you can afford to pay the loan. We aim to help you achieve your goals without living above your means.
There are several factors that go into determining which home loan and interest rate is best for you. A variable interest rate will change along with the market. A fixed rate will lock in your repayments for a set period of time. There are benefits to both of these options, and we recommend that you obtain financial advice when contemplating this decision. See this link to our blog for more information.
1. LVR: Loan to Value Ratio
LVR is the percentage of the property’s value, as assessed by the lender, that your loan equates to. For example, if the property you want to purchase is valued at $500,000, and you need to borrow $400,000 to pay for it, the loan is worth 80% of the property value, making your LVR 80%.
2. LMI: Lenders Mortgage Insurance
LMI is insurance that protects the bank or lender in case you can’t pay your residential mortgage. It’s usually paid by borrowers with an LVR higher than 80% – that is, borrowers with a deposit of less than 20%.
You can apply online, request an appointment or call us on: 1300 314 900
