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Usually available for terms of between 1 to 5 years,
Fixed Rate Home Loans offer repayment certainty in uncertain times. The 3 key
features are:
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Interest Rate will not change during the fixed period
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Repayments will not change during the fixed period
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Peace of mind in uncertain times
The loans may suit those on single or low incomes where
increases to loan repayments could become a financial strain.
Fixed Rate loans tend to be more popular when interest rates are rising, and
the opposite applies when interest rates fall.
Additional repayment limitations apply.
Early repayment penalties may apply. These penalties could be significant to
you as a borrower.Redraw is generally not available with these loans, and
linkage to 100% Offset benefits is limited.
When deciding to fix your loan you need to be certain that your domestic
circumstances will not change, requiring early discharge of your loan during
the fixed period.
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