The convenience and flexibility of a Sovereign Go Home Loan could help you pay off your home loan faster and save on interest and fees along the way. To use your Go Home Loan as a transaction account, you will need to have at least part of the loan on a floating interest rate.
Benefits of a Go Home Loan
- Decrease the amount of interest paid
By paying their salary (and any other income) directly into their Go Floating Rate account, the client immediately lowers their loan account balance and the amount of interest they pay.
If they use their credit card for all their everyday purchases, they can keep their Go Floating Rate account balance lower for even longer. To maximise the benefit, they must always pay their credit card balance in full on the due date.
- Reduce or eliminate bank fees
Most transaction fees and other common banking service fees are free of charge. See our Fees and Limits Guide for more details.
- Make savings work more effectively
By paying their savings into their Go Floating Rate account, the client still has the security of knowing the funds are available for redraw should they be required.
The client can use their redraw facility to access funds with their Go Card for EFTPOS and ATM transactions, through Go Online internet banking or Go Phone telephone banking.
When it comes to paying bills and transferring money, the Go Floating Rate Loan account offers a wide range of transaction options, all free of charge.
- Automatic payments
- Bill payments
- Direct debits
- Telephone transfers