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Find out the best interest rates available:

Owner-occupied Home Loan
5.99% p.a.      6.00% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.
Investment Home Loan
6.29% p.a.      6.30% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an investment residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.
Car Loan
6.52% p.a.      7.50% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants financing a motor vehicle on a secured consumer fixed rate loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Conditions, fees & charges apply. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.
Personal Loan
7.24% p.a.      8.22% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants getting a fixed rate personal loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates do not include our brokerage fee. Applications for finance are subject to normal credit assessment. Brokerage not included. Conditions, fees & charges apply. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.
Refinances available from:
5.99% p.a.      6.00% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.
Pre-approvals available from:
5.99% p.a.      6.00% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. Whilst we endevour to keep the information on this website up-to-date at all times, interest rates change daily - always confirm the current interest by calling 0466392717 before making any decisions. Interest rates quoted are valid at 19/05/2024. Updated interest rates and fees should be requested directly.

Using a Credit Card with an Offset/Redraw

Using a credit card with your home loan, when done correctly, can reduce the interest significantly over the 30 year period, whilst giving you a significant amount free reward points.

Generally, I recommend that you find a fee free credit card, but you can opt to use one with a fee for extra points/features. You may also have a premium credit card included in your home loan. The other important aspect is that you have 30 days interest free and pay it off in full each month - thereby you can have $0 interest and $0 fees on the card.

The general premise is that you can put your expenses on the credit card at no cost, which lets you retain more funds in your offset account or redraw for the month, thereby reducing interest (variable loans only, usually).

How much can you save?

Lets use the below as an example: $800k mortgage, 6.50% interest and $5,000 per month in expenses. As we'll have $0 extra in the loan when we pay the credit card (every 30 days), and $5,000 before we pay the credit card, we'll use an average extra balance of $2,500 for the term of the loan.

Using a Credit Card with an offset account or redraw

The savings on this example end up as $14,861 less interest / mortgage repayments over 30 years.

How many points can I get using the Credit Card?

I only Googled for about 3 minutes to find this, but found a $0 p.a., $0 signup, 44 day interest free period card w/ AMEX which provides QANTAS points. I will note that AMEX may reduce the benefit as some vendors charge a transaction fee, but you can use a free card from your home loan (if applicable) or spend the time to find an option that suits you better. I've used the QANTAS Amex Discovery Card for my calculations.

Interest savings and Awards Points using a Credit Card with your Home Loan

With $5k spendings p.m., you'd get 1.35mil Qantas Points over 30 years. Some people value these points around 1c - 3c per point. Using this method, you'd get about $13,500 to $40,500 in value. I instead opted to go have a look for a nice holiday and see how it actually converts. I had a look at current Qantas deals and found myself a nice Luxury Sri Lankan 15 day holiday with Return Flights and a 5 start hotel included. Using only points, this comes to just 299,900 points. Whilst it says "Valued at $6,999", we'll use the discounted cash price of $2,999 because we're not suckers for marketing ploys.

Free Holiday by using your Credit Card with a home loan

We can go on this 15 day, all inclusive, luxury holiday 4.5 times over the 30 year term, without paying for anything other than spending money and food! If we use these figures to convert our points, we still get $13,500 in value ($3,000 holiday x 4.5 = $13,500).

This brings the total benefits to about $28,631 over 30 years ($14,861 less interest and $13,500 in holidays or other rewards). Even if we adjust for 3% inflation over 30 years, that's still $11,684 in today's money, all completely free if we choose a fee free credit card and pay it off before incurring any interest.

Which banks offer credit cards with a home loan?

The below list is changing all the time, so be sure to double check. Also, the banks listed as "don't offer a credit card", generally do offer credit cards, they just don't generally waive the fee on the high rewards card as part of your home loan.

Common banks offering credit cards with a home loan:
CommBank
BankWest
Macquarie
Suncorp
Westpac
St George
Banks that don't offer free credit cards with a home loan (usually):
NAB
ANZ
ME Bank
ING

Note: the credit cards offered are generally not with any home loan. They're usually included in that lender's 'package' product, which often comes with an offset account also.

DISCLAIMER: You must not rely on the information in the report as an alternative to financial advice from an appropriately qualified professional. If you have any specific questions about any financial matter you should consult an appropriately qualified professional. We do not represent, warrant, undertake or guarantee that the use of guidance in the report will lead to any particular outcome or result. The content, calculations and opinions contained in this article are of the writer only, and are not necessarily those of Blue Fox Finance. Whilst we take care in ensuring the accuracy of the information, policies are changing regularly and this webpage may not reflect the most recent information.

Author: Zak Avery

Zak Avery
Owner
Mortgage Broker

About the Author

Zak has been a Mortgage Broker since 2015, and founded Blue Fox Finance in February 2017. He has all industry memberships, qualifications, insurances and has received over 100 5-star Google reviews.

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Last updated: 
16, April 2024
       Author: 
Zak Avery