Variable Rate Loans
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The most common of all loan types available. A straight
forward facility advancing you all the money upfront as a Fully Drawn
Advance (FDA)
with an agreed loan term. Once the term has been completed and the loan
has been paid back, your Title Deed that was held as security for your
loan is returned.
Movements initiated by the Reserve Bank normally
reflect the Variable Rate Loan interest rate. If the Reserve Bank moves
rates
down, your interest rate will move down, and if the Reserve Bank moves
rates up, your loan interest rate will also move up.
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