Comparing St George Seniors Access Home Loan vs NAB Introductory 1 Year Variable Rate
| Lender |  |  |
| Home Loan | Seniors Access Home Loan | Introductory 1 Year Variable Rate |
| Interest Rate | 8.04% | 6.22% |
| Summary | The St. George Seniors Access Home Loan allows retirees to use the equity in the house to live in more comfort once they have stopped working. As such, the loan has a few limitations on who can apply for it. For instance, you must be at least 63 years old. […] More | NAB’s 1-Year Variable Rate home loan comes with an introductory rate for the first 12 months of the term. The interest rate during the introductory period is variable rather than fixed. Once the term expires, the interest rates will revert to the NAB’s standard variable rate. […] More |
| Sample Loan Amount | $400,000 | $400,000 |
| Sample Minimum Deposit | $40,000 (10%) | $20,000 (5%) |
| Initial Monthly Repayment | $2,946 | $2,455 |
| Sample Term | 30 years | 30 years |
| Home Loan Type | Reverse Mortgage | Variable |
| Application Fee | $950 | $600 |
| Monthly Fee | $10 | $10 |
| Annual Fee | $0 | $0 |
| Sample Cost 1 Years |
$36,425 | $30,181 |
| Savings After 1 Years |
Save $6,244 | |
| 100% Offset Account |  | |
| Extra Repayments | | |
| Redraw Facility | | |
| Contruction | ||
| More Information |
