LOAN INTEREST RATE SCHEDULE
These interest rates are effective from 22 December 2008. Interest rates are expressed as a % pa and are subject to change. Terms and conditions available upon request.
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Home Loans
Product
Home Loan Premium 150 Home Loan Premium 250 Home Loan Mortgage Plus Loan First Start Home Loan Family Advantage Loan Fixed Rate Loan
Rate Type
Standard Variable Rate Premium 150 Variable Rate Premium 250 Variable Rate Variable Rate, 100% Offset Discount Variable Rate Discount Variable Rate Fixed for 12 Months Fixed for 24 Months Fixed for 36 Months Fixed for 48 Months Fixed for 60 Months
Annual Percentage Rate
6.91% 6.51% 6.31% 6.98% 6.41% 6.41% 5.89% 5.99% 6.60% 7.10% 7.29%
Comparison Rate
6.97% 6.82% 6.50% 7.04% 6.92% 6.92% 6.87% 6.79% 6.88% 7.05% 7.15%
Comparison Rates are calculated on a loan amount of $150,000 over 25 years based on monthly repayments. *Premium 250 Home Loan Comparison Rate calculated on a loan amount of $250,000 over 25 years based on monthly repayments.
Mortgage Loans
Product
Umbrella Loan
Rate Type
Standard Variable Rate
Annual Percentage Rate
6.91%
Comparison Rate
6.97%
Comparison Rates are calculated on a loan amount of $150,000 over 25 years based on monthly repayments.
Personal Loans – General Purposes
Loan Amount
$1,000 to less than $5,000
Rate Type
Variable Rate
Annual Percentage Rate
17.35%
Comparison Rate
24.43%
Comparison Rate is calculated on a loan amount of $2,500 over 2 years based on monthly repayments.
$5,000 and above
Variable Rate
13.75%
17.27%
Comparison Rate is calculated on a loan amount of $5,000 over 2 years based on monthly repayments.
Personal Loans – Car Loans (Fully Secured by a Motor Vehicle no older than 5 years, and being purchased through a licensed motor dealer)
Loan Amount
$1,000 to less than $10,000
Rate Type
Variable Rate
Annual Percentage Rate
9.80%
Comparison Rate
13.47%
Comparison Rate is calculated on a loan amount of $5,000 over 2 years based on monthly repayments.
$10,000 to less than $20,000 Variable Rate
9.80%
10.45%
Comparison Rate is calculated on a loan amount of $15,000 over 4 years based on monthly repayments.
$20,000 and above/New
Variable Rate
8.55%
8.81%
Comparison Rate is calculated on a loan amount of $30,000 over 5 years based on monthly repayments.
Personal Loans – Equity Plus
Loan Amount
All amounts
Rate Type
Variable Rate
Annual Percentage Rate
9.05%
Comparison Rate
9.66%
Comparison Rate is calculated on a loan amount of $15,000 over 4 years based on monthly repayments.
Personal Loans – Solar Panel Initiative
Loan Amount
All amounts
Rate Type
Variable Rate
Annual Percentage Rate
6.98%
Comparison Rate
6.98%
Comparison Rate is calculated on a loan amount of $5,000 over 2 years based on monthly repayments.
Warning: These comparison rates apply only to the 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 costs of the loan. Comparison Rate Schedules are available at any branch of The Summerland Credit Union Limited.
PRD 0212 - Page 1
19/12/2008
LOAN INTEREST RATE SCHEDULE
These interest rates are effective from 22 December 2008. Interest rates are expressed as a % pa and are subject to change. Terms and conditions available upon request.
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Mortgage Secured Investment Loans
Product
Mortgage Investment Loan Premium 150 Investment Loan Premium 250 Investment Loan Fixed Rate Loan
Rate Type
Standard Variable Rate Premium 150 Variable Rate Premium 250 Variable Rate Fixed for 12 Months Fixed for 24 Months Fixed for 36 Months Fixed for 48 Months Fixed for 60 Months
Annual Percentage Rate
6.91% 6.51% 6.31% 5.89% 5.99% 6.60% 7.10% 7.29% 7.11% 7.61% 5.89% 5.99% 6.60% 7.10% 7.29%
Interest Only Loan Interest Only – Bridging Finance (Term less than 12 mths) Fixed Rate Interest Only Loan
Variable Rate Variable Rate Fixed for 12 Months Fixed for 24 Months Fixed for 36 Months Fixed for 48 Months Fixed for 60 Months
Continuing Credit
Product
Equity Extra RediAccess Overdraft
Rate Type
Variable Rate Variable Rate
Annual Percentage Rate
7.31% From 7.31%
Commercial Loans
Rates upon application.
PRD 0212 - Page 2
19/12/2008