Adelaide Bank launches no-frills home loan

Adelaide Bank has announced it will soon launch a product that targets investors and first home buyers. On 27 June the lender will unveil its no-frills home loan, SmartSaver.

The new product will boast a 6.99 per cent rate and have no ongoing fees.

The bank’s general manager of third party lending Damian Percy said the loan was developed after many broker requests for a keenly priced alternative to the major banks.

“The new SmartSaver home loan is simple, great value, available for up to 95 per cent LVR and includes Adelaide Bank’s rapid, award-winning turnaround times for free.”

Source: The Advisor