| Who can borrow? |
- Individuals (can be joint borrowers)
- Companies, Partnerships and Trusts
|
| Margin Lending_Online loan |
- A minimum 0.20% discount on the standard BT Margin Loan interest
rate.
- Available to clients who open a BT Margin loan linked to a Westpac
Broking (or E*TRADE) online share trading account. Applications
must be completed online.
|
| Transaction fees |
- Transaction fees may apply, depending on your average monthly loan
balance and number of transactions per month.
| Loan balance** |
Transaction* Fees |
| $250,000 and above |
Unlimited free transactions |
| $20,000 to under $250,000 |
5 free transactions per month, then $5 per transaction |
| under $20,000 |
$5 per transaction |
*A transaction is a CHESS purchase, CHESS release, CHESS sale, CHESS
transfer, Cash advance, Managed Fund application or redemption.
** Loan balance means the average monthly loan balance.
|
| Loan Approvals |
- Approvals within 24 hours (company and trust applications may take
longer).
- No application or establishment fees for individual borrowers.
|
| Loan term |
|
|
| Repayments |
- The facility is an open ended revolving line of credit. There
is no set principal repayment schedule or requirement for regular interest
payments.
- Part or full repayments to the loan can be made at any time by
direct credit of BPAY.
|
| Acceptable securities |
- Cash, some Australian shares, managed funds and instalment
warrants.
- Securities can be held in either the borrower’s name or in the name
of a third party.
|
| Lending ratios |
- Lending ratios are generally between 35% and 75% of the value of the
portfolio.
- Single stock restrictions may apply on securities where the lending
ratio is less than 60%.
|
| Minimum Loan |
- Minimum loan is $20,000.
- No minimum requirement for loan advances or additional equity
contributions.
|
| Interest rates |
- Variable interest is calculated on either the greater of the daily
loan balance or $20,000 and charged to the loan account on the last business
day of the month. Interest charges commence only after money is
borrowed.
- Fixed interest rates where interest is paid in advance are available
for terms of 3, 6, 9 and 12 months. The minimum loan amount to fix must
be $20,000. Prepaid interest is not refundable.
- Interest rates are reviewed monthly.
- Interest can be paid by direct debit, BPAY, or allowed to capitalise
the loan balance.
|
| Flexibility |
- Use any stockbroker of your choice.
- Change/switch holdings within your portfolio at any time.
- No limit to the number of times you can transact. However, fees may
apply in some circumstances.
|
| Tools to manage your loan |
- Monitor and transact on your loan account online 24 hours a day, 7
days a week.
- Use our
- online calculators
to simulate transactions and
prepayments, and determine how much equity you need.
- Dedicated Customer Relations Consultants available Monday-Friday
8.30am to 5.30pm AEST on 1800 816 222.
|
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