Package home loans, or ‘professional package home loans’ bundle together various products with your lender, including credit cards, personal loans and savings and transaction accounts.
You’ll usually benefit from decreased fees and interest rates on your home loan and other linked products, and in exchange your lender will require you to pay an annual fee which ranges from $150 – $400, or even more in some cases.
Years ago, this type of package was offered only to professionals like doctors, accountants and lawyers. But now, non-professionals can also apply and get approved. A package home loan can be a great option if you intend on borrowing more than $250,000.
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