Take things up a notch
Designed for those who want a little extra from their mortgage. Not only do you get greater flexibility on repayments to suit your financial lifestyle, but you’ll also benefit from a higher level of personalised assistance throughout the entire loan process.
With an offset account to help reduce your interest, plus the option of a credit card with no annual fee for the duration of the loan, take things up a notch with Summerland Bank’s Premium Home Loan.
5.59% p.a.
Variable rate2
Maintain flexibility with a competitive variable rate. A premium variable rate is a smart option for people who want to manage their finances better and have some room for fluctuations.
5.97% p.a.
Comparison rate3
Giving you a more accurate picture of the true cost of a loan, including any fees, rates and costs. Now you can easily compare products side by side to choose what’s best for you.
Why a Premium Home Loan?
All the bells and whistles. Available for both owner occupied and investment purposes.
A credit card
With no annual fees
An offset accounts
To reduce your interest
Fast approval process
And pre-approval available
No hidden fees
And a low one-time annual fee
Pay off sooner
With no penalties
Long loan term
Maximum 30 years
Repayment flexibility
And redraw options
Check with our calculators
Access all our calculators here.
Got questions? We’ve got answers
What’s an offset account, and how does it work?
An offset account is a clever way to save on your home loan interest. It’s like a regular transaction account, but here’s the magic: the money in this account reduces (or offsets) your home loan balance. You only pay interest on the difference between your loan and what’s in the offset account. For example, if your home loan is $400,000 and you’ve got $20,000 in your offset, you’re only paying interest on $380,000. You can still use the account for deposits, withdrawals, or everyday spending—it’s super flexible!
How do I set up an offset account?
At Summerland Bank, our Premium Home Loan includes an offset account as a built-in feature. No fuss, no extra steps! Just call our friendly lenders at 1300 728 728 or pop into a branch to chat about getting started.
What are the perks of an offset account?
There are a lot of benefits to having an offset account:
Save on interest: The less interest you pay, the better, right? The balance in your offset lowers the interest you’re charged.
Pay off your home loan faster: Because you’re saving on interest, you can shave years off your loan.
Tax-smart savings: Since the money in an offset account doesn’t earn interest, there’s no extra tax to worry about.
Total flexibility: Need to access your funds? No problem—you can deposit or withdraw money whenever you want, just like a regular transaction account.
What’s the difference between an offset account and a redraw facility?
Both options are great for reducing the interest on your home loan, but they work a little differently:
An offset account is a transaction account that lowers your loan balance, saving you interest. You can access your money anytime.
A redraw facility lets you withdraw extra repayments you’ve made on your loan. It’s not as flexible as an offset account but can work well if you want to tuck those extra funds away.
Which is better for you? If you like having immediate access to your money, an offset account is the way to go. But if you’re more focused on saving without frequent withdrawals, a redraw facility might suit you better.
Is an offset account right for me?
It depends on your financial goals. If you usually keep a healthy balance in your bank account, an offset account can work wonders for saving interest on the loan. If you’re unsure, give our team a call for personalised advice—it’s what we’re here for!
What’s another great perk of a Premium Home Loan?
When you take out a Premium Home Loan with Summerland Bank, you’ll enjoy waived annual fees on our credit cards and waived all transaction fees for the life of your loan. It’s just one more way we’re making things easier for you.
We make things simple for you
We understand how confusing it can be to navigate financing a big purchase. Let our experienced lenders take away the stress of applying for finance.
Apply online, or start a conversation with our lending specialists
Your lending specialist will carefully guide you through the application process, be prepared to share your goals and financial information so we can let you know your borrowing capacity.
Application and approval
Once you have provided us with your financial information and verification documents, we will have a decision back to you lightning quick! usually within 2 business days.
Loan acceptance and funding
We make the loan acceptance process quick and easy, ensuring you can access your loan funds in time for your big purchase!
Schedule a call with a lender.
Choose a time that works for you and our local team will give you a call.
The legal stuff
1. Eligibility for the advertised rate: Minimum new loan amount $150,000, principal and interest repayments only. Maximum LVR 60%. Rate expressed as a percentage per annum, interest is calculated daily unless otherwise stated.
2. Eligibility for the advertised rate: Minimum new loan amount $500,000, principal and interest repayments only. Maximum LVR 60%. Rate expressed as a percentage per annum, interest is calculated daily unless otherwise stated.
3. Comparison rate is based on a loan of $150,000 over 25 years.
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.
4. Loan reverts to applicable variable rate on maturity of the fixed period.
Rates are subject to change. Conditions, fees, and eligibility criteria may apply, see us for details. Terms and Conditions available upon request.
Target market determination available on request at our branches.
Ready to get started?
If you’re ready for a braver kind of banking, here are three ways to get started with Summerland Bank.
Apply online
Get started online with your ID at the ready and a quick check of your personal details.
Contact us
Good old-fashioned customer service, the Summerland way.
Visit a branch
Find your closest Summerland Bank branch and our friendly local team will be ready to help.
Is there something else we can help you with?
A quick jump to content you may be interested in.
