It intended to predict future interest rates, future income, or future offset account balance. The information produced by the calculator is not an indication of nor is They do not take intoĪccount any ongoing fees. The calculator compares a loan operating without an Offset Account against a loan linked with anĬalculated as to the sum of A = B less C, where:ī = Interest debited on loans where the loan stands alone.Ĭ = Interest debited on loans where the loan has a linked Offset Account incorporating the offsetīalance and net offset deposit input by the user.Ĭalculations are estimates and provided for illustrative purposes only. Such a way that the interest payable on the loan is reduced by the amount of the interest that would
In arrears and The facility has the equivalent interest rate to that of the loan and operates in The facility operates in conjunction with a loan Interest is calculated daily and applied monthly The interest rate, starting offset balance, and net offset deposit are considered to be the same for Interest Rate, Offset Balance, and Net Offset Deposit Weekly and fortnightly loan repayment amounts are assumed toīe a quarter and a half of the monthly repayment amount respectively. Repayments are calculated assuming a principal and Repayments are rounded to the nearest cent.
One year is assumed to contain exactly 52 weeks or 26 fortnights. Leading to a varying number of days' interest dependent on the number of days in the particular In reality, many home loans accrue on a daily basis Different terms, fees or other loan amounts might result in a different comparison rate.All months are assumed to be of equal length. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. The comparison rate is based on a loan amount of $150,000 over a loan term of 25 years. To view these documents you may need Adobe Acrobat. Before making any decision in relation to our home loan products you should read the relevant Terms and Conditions booklet.
Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. The offset facility is only available on the Orange Advantage home loan account when linked to an Orange Everyday account. There is no offset facility available on a fixed rate loan. Any additional payments or advanced funds are not available for redraw during the fixed interest period. You should refer to the Home Loan terms and conditions for details and contact us on 133 464 for an estimate of the break costs that may be payable by you in the above circumstances. WARNING: If you select a fixed rate loan, break costs may be payable if, at any time before the fixed rate expires, you (1) pay out your loan, make an additional payment of $10,000 or more, or you make additional payments totalling $10,000 or more in any one-year period (with the first one-year period starting on the first day of the fixed interest period), or (2) you ask us to make certain changes to your loan including but not limited to your loan type, your repayment type, your loan purpose, your fixed interest period, the security on your property, your approved loan amount, your loan term, the borrowers on your loan or any other change that requires your loan to be re-documented. All features are not available for every type of loan.
Details of these and the terms and conditions are available at or by calling 133 464. All applications for credit are subject to ING's credit approval criteria. Information and interest rate is current as at 23 February 2014 and is subject to change.
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