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Advantage Plus Home Loan

This loan is a multipurpose home loan which has all the advantages and features of the cool home loan with a discounted variable rate, with optional split overdraft facilities.

Features

  • Redraw facility free for amounts over $2,000, otherwise $25 fee per redraw
  • Make additional repayment with no penalty
  • Pay weekly, fortnight or monthly
  • No early payout penalty
  • Fee free Visa Debit Card for up to 99 transactions a month

 

Discount Interest Rate Comparison Rate Effective of
Advantage Plus Home Loan 4.75% 4.81% Current
Advantage Plus Home Loan – Special Rate* 0.15% 4.60% 4.66% Current
Eligibility criteria, terms & conditions, fees may apply. Comparison rated based on an unsecured loan of $10,000 over 3 years. Rate is subject to change WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other credit amounts might result in a different comparison rate. Maleny Credit Union (MCU Ltd trading as), Australian credit licence 246921.

Criteria

In addition to satisfying normal credit guidelines, borrowers need to meet the following criteria:

  • The property must be predominately used for residential purposes
  • Maximum Term 30 years
  • Maximum Amount  up to 90% of the valuation of the security property
  • Mortgage Insurance Required if the amount borrowed is more than 80% of the valuation of the security property
  • NIL Application Fee
  • Loan Establishment fees charged to members at cost (minimum $903.59)
  • Annual Fee $299 (only if loan is split)
  • Split – Maximum 2 Overdrafts

* Special Rate

We want to benefit members who go beyond implementing the standard energy efficient practice and have therefore listed several energy efficient saving ideas.  So if you are looking at building or purchasing an existing dwelling, meet 3 of these criteria and you will receive an interest rate discount of 0.15% off the Advantage Plus Home Loan.

  • Solar, Gas or Heat Pump hot water system
  • Solar Power
  • Rainwater Tanks (minimum 1000 litres)
  • Eaves not smaller than 600mm on eastern and western walls
  • Insulated walls
  • Installing Eglass
Products issued by MCU Ltd ABN 52 087 650 995 AFSL/ Australian credit licence 246921. Your needs and financial circumstances have not been taken into account.  Fees and charges apply see Loan Fees and Charges. Terms of Loan contract are available on request. Email info@mcu.com.au or visit our branch. 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.  This offer is subject to change without notice.