Comparing Westpac Equity Access Loan vs NAB Choice Package
| Lender |  |  |
| Home Loan | Equity Access Loan | Choice Package |
| Interest Rate | 7.24% | 6.29% |
| 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 NAB Choice Package Variable Home Loan provides customers with a lower interest rate than the Standard Variable. The NAB Choice Package Variable Loan provides features that otherwise are not available to customers on the Standard Variable product. […] More |
| Sample Loan Amount | $400,000 | $400,000 |
| Sample Minimum Deposit | $52,000 (13%) | $20,000 (5%) |
| Initial Monthly Repayment | $2,726 | $2,473 |
| Sample Term | 30 years | 30 years |
| Home Loan Type | Line of Credit | Variable |
| Application Fee | $600 | $0 |
| Monthly Fee | $10 | $0 |
| Annual Fee | $0 | $395 |
| Sample Cost 1 Years |
$33,432 | $30,074 |
| Savings After 1 Years |
Save $3,357 | |
| 100% Offset Account |  | |
| Extra Repayments | | |
| Redraw Facility | | |
| Contruction | ||
| More Information |
