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: Homepage >> Home Loan Products >> All in One Home Loan
All in One Home Loan
The Webdeal All-in-One loan offers all the features you need to
help you pay off your mortgage sooner including salary crediting, free
transactions, access to a nil-interest Visa card for your everyday banking and
convenient all-in-one banking to simplify managing your finances.
The All-in-One could be the perfect loan if you require:
- Pay off your mortgage quickly by using your cash flow effectively
- Access to all-in-one convenient banking
- Access to a nil-interest Visa account
- Over the counter transactions with Cheque and Deposit book
Effectively the All-in-One Loan is a Line of Credit facility which gives you
cash to use for any major expenses. This type of loan allows you to borrow money
using the equity you already have accumulated in your property as security.
The Webdeal All-in-One Loan when combined with the Webdeal Advantage Home Loan
can assist in paying off your mortgage even faster while still offering access
to all the great features of the All-in-One account.
| Loan amounts | $50,000 to $2,000,000 (minimum of $25,000 in combination or split. Higher loan amounts can be achieved by combining with other products). |
| Interest rate type | Variable rate only |
| Loan Term | Evergreen (no set term) |
| Repayment type | Interest Only. Interest can capitalise to 100% of loan limit. |
| Combination and splits | Can split up to 4 accounts (will consider more) or combine with Fixed Rate Loan or Advantage Rate Loan. |
| Repayment options | Direct Debit or Salary Crediting either monthly or fortnightly. Internet or telephone transfers from pre-nominated account for additional repayments. |
| Additional repayments | Unlimited . |
| Redraw facility | Chequebook with no minimum redraws via Internet or telephone banking to pre-nominated account . |
| Withdrawals | Chequebook and Internet or telephone transfers from pre-nominated account for additional repayments. ATM or EFTPOS via Nil Interest Visa Account (NIVA). Press ‘credit’ or ‘savings’ at ATM for access to NIVA funds. Press ‘cheque’ for access to AIO account |
| NIVA Card | NIVA limit is 3% of the total loan amount up to $5,000 (more with special approval). NIVA limit can be as low as $500, however AIO account must have a NIVA. Max 3 cards, borrowers only. Swept from AIO account on the first day of each month with unlimited free transactions. PIN is identical for ATM & EFTPOS for credit, cheque and savings transactions |
| Salary crediting | Yes |
| Ability to Switch | Can switch all or part of loan limit to another product.. |
| Frequency of Statements | Monthly on both AIO & NIVA Accounts. |
| Deferred Establishment Fee | During year 1
1.00% of original loan amount During year 2 0.80% During year 3 0.60% During year 4 0.40% During year 5 0.20% Year 6 onward 0.00% |
| Other Fees | $595 Settlement fee No account keeping or on-going fees. $1.50 for over the counter deposits and $1.50 for cheques used in excess of 5 per month. $1.50 for more than 10 withdrawals per month from AIO account (NIVA unlimited). Any ATM withdrawals overseas incur a fee of $3.70 per transaction. |
| Substitution | Can substitute security within loan limit. |
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