ANZ Simplicity PLUS Basic Home Loan

If you’re looking at buying your first home or simply looking to refinance an existing home loan and you want a loan that offers a low variable interest rate for the life of the loan without having to be bamboozled with products that you know you’ll never need then you should look at an ANZ simplicity plus home loan. This basic home loan has an ongoing low variable interest rate of 6.60% with options like redraw and interest only to help you save money and build your wealth faster.

Features of an ANZ simplicity plus

The following features and options that ANZ offer on their simplicity plus home loan allows the home loan customer to confidently manage their finances without being burdened by expensive products that they will rarely use.

• Extra Repayments. With the ANZ simplicity plus home loan you won’t get penalised for making any extra repayments on your home loan. Making extra repayment or just paying a little extra each week is a great way to reduce that balance of your home loan saving you interest charges and lowering the term of your loan.
• Interest only. This option allows the home loan customer to reduce the repayments on their home loan. This is done by allowing the home loan customer to only have to pay the interest portion of the home loan repayments. It’s important to remember that during the time you’re using this option the balance of your home loan won’t reduce. This option can be used for up to ten years and is a handy option when something unforeseen come up and you need to free up some extra cash. Interest only is also a popular option used by people that invest in property.
• Repayment options. ANZ offer the home loan customer the choice of weekly monthly or fortnightly repayments on their simplicity home loan. Having these three options means that no matter your financial situation you’re sure to find a repayment frequency that suits you. When choosing a repayment frequency you should remember that making weekly repayment will save you interest charges.
• Redraw. The redraw facility that’s offered by ANZ on their simplicity plus home loan means that the borrower is able to access any of the extra funds that have deposited on the home loan. This gives the home loan customer the confidence to be able to make extra repayments on their home loan without having to worry about not having access to the money in the future if for some reason they need money .The redraw option is fee free but you will need to remember the $2000 minimum amount to redraw.
• Construction. If you would like to build your new home because you just can’t find anything that suits then you can do so with the ANZ simplicity plus. Using the draw down feature of the home loan you can make the payments to your builder or sub contractors. You have up to twelve months to build your home.
• Variable interest rate. The ANZ simplicity plus offers a low discounted variable interest rate for the life of the loan a variable interest rate means that you’re able to take advantage of any reductions in the standard variable interest rate that may occur in the future it also means that the interest rate can rise.

Read the official terms and conditions

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