What annual fees do I have to pay for a professional package? You can view the lowest rates available from our banks on our home loan interest rates page. NAB– Tailored home loan under the choice package.ANZ– Professional benefits package standard variable.Suncorp- Money manager standard variable / Money manager asset line.St George- Advantage home loan package portfolio loan / Advantage home loan package standard variable rate home loan.Westpac- Premier advantage rocket repay home loan & investment loan.Rams- Line of credit professional package / Smartway professional package.CBA– MAV Package line of credit / MAV standard variable OR Wealth Package.Some of the common professional packages are: The interest rates and fees that can be offered for a professional package will vary across all lenders, however all the major banks will offer similar features. Which lenders have professional packages? You do not want to switch to a new bank.You do not need a range of bank products.Who should not apply for a professional package?Ī professional package may not be the best choice for you if: You will also find that most professional packages are equipped with free fee offset accounts which would enable you to reduce the interest you pay even further. Generally, the application fee will be waived and various miscellaneous fees such as switch fees, extra valuation fees and loan split fees are also waived. On top of that, all this is usually accompanied with a reduction from a range of fees associated to the loan. Sometimes further discounts to the interest rates are offered in the case of larger loans over $750,000 or $1,000,000. What are the advantages of professional packages?ĭepending on the bank, professional packages often reduce the standard variable rate by 0.50% to 1.10% and the fixed rates by 0% to 0.25%. Overall for people who are looking to get more than just a home loan from their lender, pro packs are a great way to bundle several products together and save.Ĭheck out the current interest rate discounts available from our banks. Calendar_today Last Updated: 17th February, 2022Ī professional package is a type of loan that caters to people who are borrowing a large amount of money, usually over $250,000.
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