Rate Lock

Fixed Rates are subject to change between the time of your application and loan settlement. Cairns Bank offers the option to pay for a Rate Lock which will guarantee your fixed interest rate up to the time of settlement with a maximum of 90 days. There is a non‐refundable fee charged for selecting the Rate Lock feature. Rate Lock can be applied to new Fixed Rate home loan and Fixed Rate Investment home loan applications at any time before loan settlement. We lock in the fixed rate applicable on the day we receive the Rate Lock form, together with payment, for 90 days from that day. If rates go down, you will automatically receive the lower rate. The Rate Lock expires after 90 days. You may request another Rate Lock at that time, which will allow you to lock in the fixed rates prevailing at that time (not the fixed rates applicable at the time of your initial Rate Lock application) for another 90 days, subject to providing a new Rate Lock form, together with payment of another fee.
1. Interest rates shown are current as at 28/2/24. Fixed interest rates are fixed for the applicable 1-3 year periods and repayment types, either principal and interest or interest only, as shown. Upon expiry of a fixed rate period, the interest rate will revert to our standard Home Loan Owner Occupied or Investment variable rate applicable at that time. In addition, at the expiry of a fixed rate period for an interest only loan, the repayments will revert to principal and interest. Maximum loan to valuation ratio (LVR) for Owner Occupied and Investment loan is 95% with Lender's Mortgage Insurance (LMI) required above 80%. Terms and conditions, and fees and charges, apply. Loan applications are subject to Cairns Bank’s credit assessment criteria. All information including interest rates is subject to change without notice. Full details are available on application.
2. The comparison rates are calculated on the basis of a secured loan of $150,000 over a term of 25 years with monthly repayments.
   
   WARNING: The Comparison Rates are true only for the examples give and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.

General Advice Warning:
The information provided is general advice only and does not take into account your individual objectives, financial circumstances, and personal needs. You should consider the appropriateness of this advice with regard to your particular financial situation and needs. We advise that you should carefully read our Terms and Conditions, Financial Services Guide, Fees and Charges, and Credit Guide, before acquiring a product. For full details on our products and services and an analysis of your personal requirements, please arrange for an appointment with one of our friendly lending staff by contacting Cairns Bank.