Why our ZIP loan could be the right loan for you
Interest free Visa debit card
Enjoy the spending convenience that comes with a $5000 limit Visa Debit Card which is interest free for the life of your loan.
No monthly or ongoing fees
We don’t charge any monthly, annual or ongoing fees, so you can budget with confidence.
Unlimited free redraws
Looking to make extra repayments with a redraw? We have a full range of loan features to suit your situation.
Quick and easy process
Apply online or you can arrange a chat with one of our Australian based home lending specialists for a quick decision and easy application.
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Frequently asked questions
There is no catch. When you settle your home loan, you will be issued with your Visa debit card with a $5000 limit, and you can use the card any way you want whether it is for a big purchase or for day-to-day spending. The outstanding balance on the card will never be charged interest, and the card has no ongoing fees, making it a better alternative option to a credit card.
You are unable to use the $5,000 to pay off your loan. You can choose to put the $5,000 in the home loan as redraw funds, however, this will become payable when you payoff the loan.
The $5,000 ZIP Visa debit card can be a great way to make day to day purchases.
You'll have interest free equity of $5000 and this is on top of your home loan. The $5000 will not be added to the balance, meaning it won't impact your monthly repayments. You can choose to pay the owing balance off each month to keep the funds revolving, or not pay it back until you pay off your loan.
Any outstanding amount will become payable upon discharge of the loan.
You will need at least 20% deposit to be eligible.
If you're thinking about buying property, applying for a home loan can be seamless from start to settlement. One simple online application can tell you how much you can borrow, give you pre-approval and help you track your application progress all the way to ownership. To learn more, click here.
The settlement process is different depending on each individual applicant's personal situation, but we generally say it can take anywhere between 4 to 6 weeks. To get to settlement, you'll need to apply, speak to one of our lending specialists, upload your documentation, get the property valued, have your loan approved and the documentation delivered and signed, then you'll settle.
After settlement, you'll nominate on your direct debit form when you start repayments. Our Customer Care team will also confirm your repayment dates when calling you at loan settlement. Additional repayments into a fixed home loan are allowed and are up to $10,000 per year.
We charge a $300 settlement fee plus a security assessment fee. The security assessment fee for a standard property in a metropolitan area in a major city starts at $230 for properties valued up to $1 million. The security assessment fee is not refundable and is payable when the security assessment is ordered.
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Sarah
Lending Specialist
Real humans based in Brisbane, Australia
As an experienced lending specialist, Sarah and our team can answer all your questions to get you on track.