Comparing Westpac Equity Access Loan vs ANZ Simplicity Plus
| Lender |  |  |
| Home Loan | Equity Access Loan | Simplicity Plus |
| Interest Rate | 7.24% | 6.35% |
| Summary | The Westpac Equity Access Loan allows you to access your home or investment property’s equity and use it for other purposes such as buying additional investments, make improvements to the property, or for other general purposes. This loan is a great option if you are close to retirement age and you want to draw on your equity to improve your lifestyle so you can enjoy your later years. This does not mean you cannot tap into that equity at other times. […] More | The ANZ Simplicity PLUS Home Loan is a simple, no frills home loan with a low variable interest rate for the life of your loan. It was Editor's Choice for ‘Basic variable loan’ in Your Mortgage Magazine, December 2008. […] More |
| Sample Loan Amount | $400,000 | $400,000 |
| Sample Minimum Deposit | $52,000 (13%) | $40,000 (10%) |
| Initial Monthly Repayment | $2,726 | $2,489 |
| Sample Term | 30 years | 30 years |
| Home Loan Type | Line of Credit | Variable |
| Application Fee | $600 | $600 |
| Monthly Fee | $10 | $0 |
| Annual Fee | $0 | $0 |
| Sample Cost 1 Years |
$33,432 | $30,467 |
| Savings After 1 Years |
Save $2,965 | |
| 100% Offset Account | ||
| Extra Repayments |  | |
| Redraw Facility | | |
| Contruction | | |
| More Information |
