Personal Banking

Standard Investment Variable Rate Home Loan

Product Features

Loan Amount

No Minimum Loan Amount

Loan to Value Ratio (LVR)

1. Max 80%; or

Loan to Value Ratio (LVR) = requested loan amount / value of security

2. Over 80%, subject to Lender’s Mortgage Insurance (LMI), but LVR must be not more than 90%.

Value of security is considered as either the purchase price or valuation amount. The lower amount is considered for credit assessment.

Interest Rate

5.3% p.a.

Standard Investment Variable Rate (S.I.V.R.)^ - applicable for investment home loan

*Comparison Rate: 5.35% p.a.

Repayment Type

Principal& Interest; or

Interest Only up to 5 years

Interest only installment repayment available only if LVR equals to or less than 80%.

Term

30 years

Maximum loan term up to 30 years

Security

Residential Property for investment purpose

 

Early Repayment

Allowed

 

Redraw

Allowed

 

Fees & Charges

Application Fee

$350.00

Payable by the customer/s at the time of application

Annual Fee

Nil

To be charged on the first drawdown and will be debited to the customer's account by the Bank on each anniversary thereafter.

Guarantor Fee

$300.00 per guarantor

Payable if the loan application has guarantor/s. Only natural person guarantors are allowed.

Early Repayment Fee

Nil

per early repayment

Redraw Fee

Nil

per redraw

Valuation Fee - first security

Nil (for security value < $750,000.00)

Waived if the value of the first security of the customer is less than $750,000.00 and is a successfully drawdown. Otherwise, valuation fee is payable.

By Quotation (for security value >= $750,000.00)

Payable if the value of the first security of the customer is equal to or greater than $750,000.00

Valuation Fees - additional security

By Quotation

Payable if customer/s request additional security for loan application.

Legal Fee

By Quotation

Payable upon receipt of Bank of China's Solicitor's Tax Invoice.

Settlement Fee

Nil

Per drawdown

Discharge Service Fee

$450 (first security); and $250 (each additional security)

Per discharged security, not including related Legal Costs.

Important Information:

   

1. All the above rates and fees are effective from 17thJuly2017 and are subject to change from time to time.  Other fees and charges are payable.  Approval of this product is subject to our normal lending criteria.  Terms and conditions apply and are available on request.

2. * The comparison interest rate calculation is based on a designated loan amount of $150,000 for a term of 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and costs savings such as fee waivers, are not included in the comparison rate, but may influence the cost of the loan.

3. ^Standard Investment Variable Rateis our reference interest rate that is applicable forBank of China Investment Home LoansInformation on our current reference interest rates is available on www.bankofchina.com/au.

4. Credit provider for this product is Bank of China (Australia) Limited ABN 28 110 077 622 AFSL/Australian Credit Licence number 287322.

5. To find out more information visit www.bankofchina.com/auor phone Bank of China (Australia) Ltd on (02)92123877/ (03)96023655 / (07)32218888.

6This Product Sheet is prepared in both English and Chinese. The Chinese version is a translation of the English version and must be used for reference only. In the case of any inconsistency, the English version prevails.