Home Equity - Overdraft
One of the easiest and most economical ways to fund a purchase such as a car, overseas holiday, renovation or any other significant expense is by using the equity you have in your home. You can extend your existing QTMB home loan or take out a separate loan, either way you will receive a competitive interest rate at a much cheaper rate than a personal loan.
Features
| Feature |
Availability |
| Loan Purpose - Construction |
No |
| Loan Purpose - Refinance |
No |
| Loan Purpose - Land |
No |
| Loan Purpose - Residential |
Yes – Home improvements only |
| Loan Purpose - Investment |
No |
| Any worthwhile purpose |
Yes |
| Interest Rate |
See interest rate schedule |
| Variable |
Yes |
| Fixed |
No |
| Interest only option |
Yes |
| Split Loan Available |
No |
| Redraw |
Yes |
| Offset |
No |
| Minimum Loan Amount |
$20,000 |
| Maximum Term |
Revolving Credit |
| Top-ups |
Minimum $20k maximum 80% LVR |
| LVR requirement |
80% |
| Unlimited additional repayments |
YES |
| Available in package |
Choices |
Combine a Home Equity Overdraft with the QTMB Choices Package for even greater value -
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QTMB's lending policies, conditions, fees and charges apply and are available from us.