Win rate discounts for bulk business

It's possible to get home loans with interest rates discounted by up to half a percentage point lower than the standard variable rate. The big banks and some smaller lenders offer a package of discounts and bonuses to those who conduct all their banking with them. These packages require a minimum loan of $150,000 -$250,00, using the lender's credit card, opening a transaction account, and having an above-average income. An annual fee for the package may apply. Borrowers can save nearly $19,000 in interest on a $200,000 loan over 25 years if the rate is cut from 7.07 per cent to 6.57 per cent. This will reduce monthly repayments by $63 and borrowers can save more than $25,000 in interest if the monthly $63 saving gets put towards the loan at the lower interest rate. The package may also include fee-free banking and discounts on products such as margin loans, insurance and personal loans. The packages are generally not promoted actively: the customer has to seek them out.

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