Line of Credit:
This type of loan account offers maximum flexibility. It allows you with full redraw facility. Ideal for investment property purchases and owner occupied purposes.
This facility can be used to borrow against the equity in a home. This structure is ideal for home renovations or other investment purposes. Interest is only payable on the outstanding balance (works like a credit card).
Direct Salary crediting is also available. You may keep all your savings and salary into the line of credit account (also acts as a transaction savings account to offer additional flexibility) re-drawing money to cover your living expenses and other financial commitments, you can reduce the loan balance by keeping the surplus money into the account. This facility will help you reduce the amount of interest payable on a daily basis.