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Premium Home Loan
Greater flexibility and more perks, for both owner-occupied and investments
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Variable rate²
Comparison rate³
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.
All interest rates
All loan options 
Features
Why a premium home loan?
A credit card
An offset accounts
Fast approval process
No hidden fees
Pay off sooner
Long loan term
Repayment flexibility
Calculators & tools
Check with our calculators
Frequently asked questions
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.
Application process
We make things simple for you
Apply online, or start a conversation with our lending specialists
Application and approval
Loan acceptance and funding
Compare home loan options
Use our handy home loan comparison table to compare loan rates, options and features side by side.
Compare now
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Schedule a call with a lender
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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.