Line Of Credit
A Line of Credit is a flexible credit facility secured by a mortgage. Similar to a credit card, it allows you to withdraw funds up to your set limit at any time. You can use the line of credit account just like a bank account, depositing your salary into it and making withdrawals as required.
This fully transactional account gives you access to available funds 24 hours a day, 7 days a week.
You have total control over how much you use and when you use it, and you only pay interest on what you have spent.
What else does the product offer?
- Nil interest visa card with auto monthly sweep
- Make unlimited additional repayments at any time
- Unlimited redraw – Free of charge
- Owner-occupied or Investment properties
- Internet, phone and BPay access
- Additional repayments
- A linked Secured visa card option up to $20k