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Loan Interest Rates

Current at 3rd January 2012 - For a PDF version of this document, click HERE.

Interest Rate Comparison Rate
Home Loans – Variable Rate

First Home Buyer Package (L53)
Designed especially for First Home Buyers, this loan package offers a 1.00% p.a. discount off the standard variable home loan rate for the first year of your loan and a Your Choice Visa Credit Card with no annual fee and a 3.00%p.a. interest rate discount.

 6.14%pa
For the first year, then reverting to the Redidraw Home Loan rate		 7.07%**

Redidraw Home Loan (L1)
The Redi-Draw is a variable rate home loan with many added features including the ability to make extra repayments to reduce interest and no redraw fee.

 7.14%pa 7.17%**

Sustainable Home Loan (L52)
The Sustainable Home Loan is available to members who are purchasing or building homes with a 6+star rating according to the Nationwide House Energy Rating Scheme.

 6.89%pa 6.92%**

Mortgage Breaker (L77)
- in conjunction with S77 Mortgage offset account Rather than attracting interest on credit funds held in your transaction account, the balance of your loan is offset by the amount held in your transaction account when interest is calculated.

 7.14%pa 7.17%**

Home Loan Owner Builder (L35)
Specially designed for owner builders, the interest rate on this loan reverts to the Redidraw rate once the home is completed

 8.14%pa 8.21%**

Mortgage Secured Overdraft (S10)
Can be used as a cheap line of credit for small to medium purchases such as a new car or boat. Alternatively, if you prefer, it can be an all-in-one transaction account and home loan that allows you to credit all your pay against your home loan balance and only withdraw the funds when you need to- thus allowing you to reduce the interest you accrue during the month

 From 7.14%pa N/A
Home Loans – Fixed Rate

Home Loan Steady Rate 1 (L91)
Your interest rate and repayments are set for a period of 1 year

 6.29%pa 7.08%**

Home Loan Steady Rate 2 (L92)
Your interest rate and repayments are set for a period of 2 years

 6.29%pa 7.00%**

Home Loan Steady Rate 3 (L93)
Your interest rate and repayments are set for a period of 3 years

 6.44%pa 6.97%**

Home Loan Steady Rate 5 (L95)
Your interest rate and repayments are set for a period of 5 years

 6.94%pa 7.08%**
Car and Personal Loans

Fixed Rate Car Loan (L89) (for loans over $10,000 - special conditions apply)
Available for cars up to three years old and with a deposit (including trade-in) of 20% or more of the purchase price. Fixed interest rate with a term of up to 5 years

 From 9.49%pa 10.72%*

Special Car Loan (L7) (for loans over $10,000 - special conditions apply)
Variable rate loan with a term up to seven years. To qualify, the loan must be for a vehicle less than three years old and there must be a deposit (including trade-in) of 20% or more of the purchase price,

 10.99%pa
11.99%pa
12.99%pa
 12.22%*
13.23%*
14.23%*

Car Loan (L6)
Variable interest rate with a term of up to seven years.

 From 13.99%pa 15.23%*

Personal Loan (L5)
Variable interest rate with a term of up to seven years.

 From 15.99%pa 17.01%*

Enviro Loan (L5)
Enviro Loan is designed to help you purchase energy efficient material for your home in a more affordable and convenient way. Our Enviro Loan allows for the use of Government rebates which can either be credited to your loan or used for other ‘green’ purposes

 11.99%pa 13.01%*
Credit Cards and Personal Overdrafts

Your Choice Visa (S26)
A credit card that offers an interest free period of up to 55 days on all purchases and a low annual fee of only $40.

 14.69%p.a
11.69%p.a if NECU Mortgage is held		 N/A

ConveniencePlus (S25)
A ‘no-annual fee’ credit card, you are charged interest on all purchases from the date they are made.

 14.49%pa N/A

Overdraft (S1, S3, S5, S7 & S9 ) (Visa Access Card or Cheque)
Attaching an overdraft to your transaction account allows you to manage large or unexpected bills with convenience.

 16.99%pa N/A

Line of Credit (L80)
A revolving line of credit with set repayments

 16.99%pa N/A
Commercial Lending and Overdrafts

Commercial Loan – Mortgage secured (L3)
Variable rate loan with terms of up to 15 years

 From 8.29%pa N/A

Commercial Loan – 1 year fixed rate
Your interest rate and repayments are set for a period of 1 year

 From 7.29%pa N/A

Commercial Loan – 2 year fixed rate
Your interest rate and repayments are set for a period of 2 years

 From 7.29%pa N/A

Commercial Loan – 3 year fixed rate
Your interest rate and repayments are set for a period of 3 years

 From 7.44%pa N/A

Commercial Loan – 5 year fixed rate
Your interest rate and repayments are set for a period of 5 years

 From 7.94%pa N/A

Commercial - Other security (L4)
Variable rate loan for commercial purpose

 15.99% N/A

*Based on $10,000 over 3 years

**Based on $150,000 over 25 years

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayments fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rate schedules are available at all of our branches and agencies. Please note that all loan interest is calculated on the daily reducible balance and charged monthly in arrears. New England Credit Union Ltd lending criteria apply to all loans detailed on this brochure. The rates of interest detailed in this brochure relating to loans are subject to New England Credit Union Ltd’s terms and conditions for each product. Full details of the relevant terms and conditions are available on application. Fees and charges are payable. Terms and conditions, interest rates and fees and charges are subject to change at any time.

Phone Enquiries: 132067 - Loan Hotline: 1300 132 067 - www.communitymutual.com.au