Auswide Bank offers fixed interest rates on the Home Loan Plus for terms ranging from one to five years. Customers may choose to lock their fixed rate if they believe interest rates may change prior to the settlement of their loan.
Loan applicants may request to lock in a fixed interest rate at the time of lodging a full application. The Rate Lock Request form should be submitted with the supporting documentation for the application.
NOTE: Rate lock is NOT available on pre-approval applications.
If rate lock is required the Rate Lock form should be provided with supporting documents at the time of converting the pre-approval to a full application. A 'rate lock' may be available for up to 90 days from the request date by completing the rate lock request form:
A Rate Lock Fee is payable – calculated as the greater of 0.15% of the loan or $250.
| Fixed Rate Increase | Fixed Rate Decrease | |
|---|---|---|
| Rate agreed without rate lock | If the rates offered by Auswide Bank were to increase, whatever rate is applicable on the day of settlement will be applied to the loan. | If the rates offered by Auswide Bank were to decrease, whatever rate is applicable on the day of settlement will be applied to the loan. |
| Rate agreed with rate lock | If the rates offered by Auswide Bank were to increase the lower rate will be applied to the loan. (eg: If the loan was approved at a rate of 4.39% and the fixed rates increased to 4.49% the customer would receive 4.39%) |
If the rates offered by Auswide Bank were to decrease the lowest rate will be applied to the loan. |
For more information, please refer to our fixed rate info sheet.
