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Equity Access helps you make the most of the equity that you have in your property to achieve your plans for the future faster.

With Equity Access, you can access up to 80% of the value of your property to renovate, make investments or to achieve other plans that are important to you. The loan is suitable if you need to borrow an amount from $25,000.

• At a glance
• Essential details
• Options
• Features

At a glance

• Flexibility in timing and size of repayments
• Interest paid only on the funds you access (however fees will apply once a limit has been established)
• Helps you now and in the future – you can choose to maintain a credit limit for as long as you like
• 'Low doc' version available.

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Essential details

Interest rate	Variable Equity Rate at 8.71% pa
Establishment fee	$600 establishment fee
Monthly loan maintenance fee	$10 monthly loan maintenance fee.
Loan term	Revolving line of credit – no specified term.
Repayment basis and cycle	Interest Only and Fees Line of Credit.
Repayment frequency and method	Monthly by Direct Debit (preferred) for Interest Only loans Line of Credit repayment is not required if within limit
Additional repayments	Additional repayments allowed at any time without penalty.

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Options

Combination loan	Split your loan between fixed and variable to give you a balance between flexibility and certainty.	Yes
Premier Advantage Package	Bundle your home loan with your regular banking in order to enjoy a wide range of savings on Westpac products.	Yes

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Features

Portability	Gives you the ability to change properties while maintaining the same loan account. Usual security criteria apply.	$300 per move
Progress draws	This option is not available on this loan.	N/A
Redraw	Gives you same day access to any available funds (for payments you have made over and above the normal scheduled payments) in your account.	Included in 15 free withdrawals per month, then $2 each
Repayment holidays	Gives you the option of skipping full or partial repayments while you are ahead of your required payments.	Fee free
SmartPay	Allows you to arrange automatic transfers to pay your bills or disperse funds to nominated accounts	15 free per month. Excess Transaction fee of $2 is payable for each withdrawal (which includes any SmartPay disbursement) in excess of 15 withdrawals per month.
Top-up	Allows you to increase your loan if you need further finance. Usual lending criteria apply.	$400 each
Funds access	Access available funds directly from your loan account via: ATM BPAY Direct Debit Internet Banking Transfer Internet Banking Transfer Telephone Banking EFTPOS At any Westpac Branch Cheque	Included in 15 free withdrawals per month, then $2 each
100% Offset	This option is not available on this loan.	N/A
Parental leave	This option is not available on this loan.	N/A
Reduced Repayment	This option is not available on this loan.	N/A

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