Rates - 25 Mar 08 - get quote for current rate

As you can see from the table below all of our home loan rates are very competitive. 

Centra Finance Product INTEREST RATE*
1 Year Low Start from 8.30%
Discount Basic Loan from 8.50%
Royal Standard Loan from 8.84%
Line of Credit Loan from 8.62%
100% Finance Home Loan from 8.67%
LoDoc Loan from 8.62%
LoDoc Line of Credit Loan from 8.70%
Construction Loan from 8.50%
Seniors Loans        9.10%
Equity Share Loan from 9.72%
Fresh Start Series from 8.80%

 * Variable Interest Rate updated 25 Mar 08

Why are rates quoted as "from"?
We use the term "from" when we quote our rates because a few things can affect the final rate you are offered. For instance, lenders see it very safe to offer a loan to you when they are lending only 65% of the value of the property (LVR - loan-to-value ratio), and therefore are willing to discount the rate offered to you. But, if you want say, 95% (LVR) of the value of your property, then they see this as a higher risk to them, and withdraw most discount from the standard variable rate.

But on the other hand, the more you borrow the harder they can try. So, if you want a Million bucks at 85% LVR you can expect a better rate than if you want $150,000 at 85%. Hey, we don't set the rules, we just do our best to get you what you need.

Variable Rate
This rate is a benchmark used by all home loan lenders and varies in line with the movements in financial markets. Your repayments could go up or down with the Reserve Bank's rates or as the market changes.

Fixed Rate 
The interest rate is locked in for one to five, seven or ten years. This means that you know exactly what your repayments are. If you fix the entire loan, you may have to sacrifice flexible features like the free offset sub-account, extra repayments and redraw.

Comparison Rate 
This shows you the real rate you pay, once all the fees and other loan costs are taken into account. This figure allows you to compare home loans offered by all banks, non-bank lenders and credit unions . It factors in such things as honeymoon rates and hidden fees. 

Split Loans
You can split your Home Loan into as many as four sub-accounts, even after the settlement date. This means you can split your loan between fixed and variable rates, as well as Principle & Interest and Interest Only Payments. With the variable rate you've also got the bonus of a free offset sub-account*, so that every dollar you keep there reduces the daily interest accrued on that part of your home loan.

*where available