QTMB Rate Tracker
When you like the flexibility of a variable loan but the predictability of a fixed, the rate tracker offers the best of both. With a variable rate that tracks the RBA’s official cash rate you have the security of knowing your loan is guaranteed to go up or down by the same amount within 21 days.
How it works…
If the RBA was to decrease the official cash rate by 0.25%, then the rate would change as follows…
- Rate Tracker rate before a decrease = 6.85%
- Rate Tracker rate after a decrease = 6.60%
If the RBA was to increase the official cash rate by 0.25%, then the rate would change as follows…
- Rate Tracker rate before an increase = 6.85%
- Rate Tracker rate after an increase = 7.10%
Features
| Feature |
Availability |
| Construction |
Yes |
| Refinance |
Yes |
| Land |
Yes |
| Residential |
Yes |
| Investment |
Yes |
| Any worthwhile purpose |
No |
| Interest Rate |
See interest rate schedule |
| Variable |
Yes |
| Fixed |
No |
| Interest only option |
No |
| Split Loan Available |
Yes |
| Redraw |
Yes - Owner occupied only |
| Offset |
Yes - optional |
| Minimum Loan Amount |
$150,000 |
| Maximum Term |
30 years |
| Interest details |
Calculated daily, charged monthly |
| Top-ups |
No |
| LVR requirement |
80% or up to 95% with LMI |
| Unlimited additional repayments |
YES |
| Available in package |
No |
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Terms, conditions, fees and charges apply. QTMB lending criteria and policies apply. Rate Tracker rate available where LVR is 80% or under. A premium of 0.1% applies where LVR is over 80%. A Product Disclosure Statement (PDS) is available for this product and you should read the PDS before making any decisions about the product. As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on this advice, consider its appropriateness to your circumstances.