How does the split home loan feature work?

The split home loan feature allows your customer to divide their total approved home loan facility limit into two or more home loan accounts. This provides flexibility for your customer, enabling them to tailor their home loan to suit their needs.

The home loan accounts can have different:

  • loan purposes
  • rate types, and/or
  • repayment types.

What are some examples of a split home loan?

A common example of how the split home loan feature is used is:

  • fixing a portion (e.g. 60%) of the total approved home loan facility limit in one home loan account, and
  • leaving the other portion (e.g. 40%) in a variable home loan account, to link the offset account and maximise the benefits of the offset feature.

How many splits or loan accounts can a home loan facility have?

The number of home loan accounts (or splits) a customer can have will depend on the type of home loan product they’ve requested.

  • An Offset Home Loan Facility can have unlimited home loan accounts.
  • A Basic Home Loan Facility can have a maximum of 6 home loan accounts.

During the application phase in ApplyOnline, a maximum of 6 home loan accounts can be added for both products.

If more home loan accounts are required, see Opening additional home loan accounts post-settlement.

How can my customer split their home loan?

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