Comparing Westpac Equity Access Loan vs NAB Introductory 1 Year Variable Rate
| Lender |  |  |
| Home Loan | Equity Access Loan | Introductory 1 Year Variable Rate |
| Interest Rate | 7.24% | 6.22% |
| 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 | 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 | $52,000 (13%) | $20,000 (5%) |
| Initial Monthly Repayment | $2,726 | $2,455 |
| Sample Term | 30 years | 30 years |
| Home Loan Type | Line of Credit | Variable |
| Application Fee | $600 | $600 |
| Monthly Fee | $10 | $10 |
| Annual Fee | $0 | $0 |
| Sample Cost 1 Years |
$33,432 | $30,181 |
| Savings After 1 Years |
Save $3,251 | |
| 100% Offset Account | ||
| Extra Repayments |  | |
| Redraw Facility | | |
| Contruction | ||
| More Information |
