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60 month $5k+ |
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Pioneer Banking Package
You can expect more from your banking with SERVICE ONE's ultimate banking solution - the Pioneer Banking Package. This banking package allows you to streamline your banking and is beneficial for home owners looking to save on interest rates, transaction fees and other products and services.
And we won't reduce your discounts as your loan balance gets smaller. Your discount level is determined by looking at your total borrowing amount at the time you apply for Pioneer benefits and you keep this discount for the life-of-loan~. This is unique to package banking and we're proud to offer it through Pioneer. A summary of the elements of Pioneer can be found below:
| Eligibility | Have an outstanding loan balance of at least $200,000 across all Package Loans. |
| Loans eligible for discounts under Pioneer (Package Loans)+ |
Variable rate loans: Standard Variable Rate Home Loan Fixed rate loans: 1-year Fixed Rate Home Loan |
| Variable rate loan discount (life-of-loan) | 0.60% off published rate (total Package Loan borrowings of $200,000 to $499,999). 0.75% off published rate (total Package Loan borrowings of $500,000 or more). |
| Fixed rate loan discount (life-of-loan) | 0.20% off published rate (total Package Loan borrowings of $200,000 or more). |
| Competitive interest rates | View our interest rates. |
| Other loan discounts | No Mortgage Application Fee. No loan Monthly Service Fee. No Variation Fee*. No SERVICE ONE staff-assisted Loan Redraw Fee. |
| Discounts on everyday banking | No monthly Membership Service Fee. Unlimited free withdrawals,free rediATM cash transactions and direct debits per month. |
| Personal loan discounts | No Application Fee. 0.50% off the published rate for variable rate personal loans (for loans of $10,000 or more). |
| Tailored borrowing amounts | We lend up to 80% of the property value or up to 97% of the property value with Lender's Mortgage Insurance (subject to conditions). |
| Loan Repayment Insurance | This insurance helps you cover your loan repayments should the unexpected occur. |
In addition:
- You will earn a 0.10% bonus on published interest rates for term deposits.
- By having a home loan with SERVICE ONE, you enjoy a Visa card at the Standard Variable Home Loan rate (subject to standard conditions).**
- You will receive a 10% discount on the base premiums of MemberCare insurance products, including home and contents, and motor vehicle.
- You will receive a free Entertainment Book every year.
- Conditional approval can be granted quickly upon receipt of your application.
What you could save
The Pioneer Banking Package is designed to save you money. For example, if you borrow $400,000 using the Standard Variable Rate Home Loan to purchase a home or refinance your existing home loan and a $10,000 personal loan to finance a family holiday, you would be entitled to the following savings...
| Savings year 1 | Savings year 2 | |
| Lending/investment products Loan Monthly Service Fee Mortgage Application Fee Interest rate discount (0.60%) Personal Loan Application Fee Personal loan interest rate discount (0.50%) |
$96 $500 $2,400 $150 $47 |
$96 $0 $2,400 $0 $42 |
| Insurance premium discount# Home and contents Motor vehicle |
$118 $68 |
$118 $68 |
| Less Pioneer Banking Package fee | $350 | $350 |
| Annual savings | $3,029 | $2,374 |
| Total savings over 2 years | $5,403^ | |
~ Subject to meeting terms and conditions and making no variation to your associated loan contract/s.
+ Available for loans funded from 1 January 2012.
* Does not include any third party fees incurred by SERVICE ONE and does not include economic cost for early repayment or termination of fixed rate loans.
** An additional benefit of having a home loan with SERVICE ONE is it allows you to enjoy a Visa card (conditions apply) at the Standard Variable Home Loan interest rate.
# Insurance premium discounts are calculated on a 10% reduction of an average policy and may vary with the nature and value of the policy taken.
^ Total savings figures are indicative only and may vary depending upon the amounts borrowed, how products and services are used and the nature of insurance products selected.
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