Questions?   (08) 9201 8500   Contact Us Here

Fixed Rate Loans

Fixed Rate Loans

Fixed rate loans are set at a fixed rate for a specified period – usually one to five years. The main advantage is a fixed rate will allows you to budget your monthly expenses as the rate and repayments are fixed for that requested term. A couple of disadvantages is you generally have restrictions on how much extra you can pay off per annum on the loan and you will not benefit if the bank decrease its variable in the fixed time period.