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Household Loan
Home Income
Refinance for 60+
20K Top Up
Home Equity Wealth Release
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Lowest Available Interest Rate
4.95%
variable rate
4.98%
Comparison Rate*
*The Comparison Rate is based on a loan of $150,000 for 25 years. WARNING: this comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Household Loan Fees and Charges
| Description | Fee |
|---|---|
| Establishment Fee (includes valuation and conveyancing) | $950 flat fee |
| Special attendance fee (e.g., variation or substitution of security, discharge of mortgage) | $250 per attendance plus third-party fees |
| Fee for provision of paper copies of documents | $25 per request |
| Drawdown fees | Nil |
| Regular service fees (monthly, annual) | Nil |
| Early repayment fee | Nil |
How Much Home Equity Can You Borrow?
Whether you need to consolidate debts, increase income or peace of mind see how a Household Loan can help you.
Frequently Asked Questions
How Does Interest Work On A Household Loan?
Accessing the savings in your home using a Household Loan will reduce the amount of equity you have in your home over time. As with all loans, interest is charged on the funds you receive.
Whether you receive regular drawdowns or a lump sum payment, interest is charged on the total amount drawn from your loan. Interest is calculated daily but only compounded (added to the loan balance) monthly.
Most loans require monthly minimum payments to repay the loan balance and associated interest charges; a Household Loan defers loan and interest repayment to the loan's maturity date.
What is Compound Interest?
While no regular repayments are required, interest and any fees added to the loan balance will compound over time.
Compound interest means that you pay interest not only on the amount you have borrowed but also on the interest (and any fees) charged. Or, in other words, you pay interest on the interest for the duration of your loan.
Over time, the amount you owe will increase, and the longer you have the loan, the more the interest compounds and the larger the amount you have to repay.
Household Capital also offers an 'interest only' facility, where you can make regular payments so that at the end of the term, only the principal amount you borrow is repayable.
Why a Household Loan?
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CONFIRM ELIGIBILITY
Use our simple online calculator to check your eligibility and see how much Household Capital you can access.
PERSONAL CONSULTATION
Explore your retirement funding needs during an online meeting with one of our retirement specialists. Personal, one-on-one service is important to us.
APPLICATION
Complete the application process, secure in the knowledge that there’s always someone available to help along the way.
