Owning your new pool could be as little as the cost of a cup of coffee a day!*
Let’s imagine you currently have a loan of $250,000 which you have taken over 30 years. You’re currently paying 4.50% p/a in interest and you are making principal and interest repayments on the loan. Your current repayments would be $1,267 per month.
Using a more competitive rate of say 4.02% and the same loan term of 30 years, what would it cost you per month in additional repayments to purchase your new pool?
Example product used is the BankWest Complete standard variable product: 4.02% p.a. variable rate (4.42% p.a. comparison rate). Additional fees and charges may apply. Rate is current as at 20th May 2016.
Comparison rate based on a loan of $150,000 for a term of 25 years.
*This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.