03 October 2022

Neo loan rates, fees and agreements

Interest rates

The following information is current from 03 October 2022 and is subject to change.  Interest rates are subject to Neo lending criteria, terms, conditions and fees apply.

Neo Variable Loan

The variable interest rate that applies to each Neo Variable Loan is determined by adding a Margin (in the range set out below) to the Base Variable Rate.

Base Variable Rate: 5.25% p.a.

Margin: Between 0.0% - 2.5% p.a.

We may change the Base Variable Rate from time to time.

The Margin we offer you will be set by reviewing your loan application and assessing your personal profile. Our assessment of your personal profile includes, but is not limited, to your credit history, financial commitments, work status, the ratio of the loan to the value of the property you give us a first mortgage over (we call this ‘LVR’), an assessment of the security that is offered and whether the security property is an investment or an owner occupied property.

Interest is calculated daily for each loan account by multiplying the balance owing on a loan account at the end of the day by the daily interest rate. The daily interest rate is calculated by dividing the applicable annual interest rate for that loan account by 365.

Interest for a loan account is charged to that loan account on the same day that your regular payment for that loan account is due. This means that in respect of a loan account if your regular payment occurs every fortnight, your interest charge will also debit every fortnight.

Default Interest

A default interest rate, which is your current interest rate plus 5% p.a. may be charged on each amount that is overdue. .

Extra Repayment

Minimum extra repayment amount: $1000

You can repay your loan in full at any time. Please contact us on 0800 755 779 or contact your mortgage adviser if you wish to repay your home loan in full. Please note that there is a Discharge Administration Fee due when you repay your home loan in full (see fees information below).

Fee Schedule

The following information is current as at day month year and subject to change. View the full fees schedule here.

Agreements

Sample - Neo Loan Details (effective day month year)
Neo Home Loan Terms and Conditions (effective day month year)

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Important information

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. Speak to an accredited Neo Mortgage Adviser.