Interest rates and fees
Home loan rates
View the latest interest rates
Home loan fees
Orbit and Orbit FastTrack home loans have the same rates and fees.
The flat monthly account fee covers unlimited transactional fees including using ASB ATMs, automatic payment, direct debit, phone banking and internet banking bill payment fees. Fees are subject to change.
All customers who use other banks' ATMs to obtain an account balance or withdraw cash will be charged a 75c other bank ATM usage fee in addition to the Orbit and Orbit FastTrack home loans flat monthly account fee.
Loan processing feeWhen your Orbit or Orbit FastTrack home loan is first arranged, a loan processing fee of up to $400 applies. A low equity fee and a low documentation fee may also apply.
Alteration to borrowers or security held for a loan:
| Service | Fee |
| Release or substitution of security for the loan. | $200 |
| Loan transferred, e.g. to a trust, with new mortgage required. | $180 |
| Change parties to loan agreement. | $100* |
| Registrations affecting land titles. | $100* |
| Memorandum/deed of mortgage priorities. | $100* |
Discharging your loan:
| Service | Fee |
| Settlement statements / security release. | $100* |
| Release of repaid mortgage. | $50 |
At the end of your loan we can hold your mortgage documents for future lending or safe keeping, at no additional charge.
*Urgent requests for settlement statements or changes to loan arrangements will incur an additional fee of $25.00.
Unarranged overdrafts:
**Based on highest overdrawn balance per month; minimum of $20.
Fixed interest rate loans
For partial or full repayments of a fixed rate loan advanced on or after 1 April 2005 before the end of the fixed rate period an early repayment adjustment administration fee of $50.00 will apply. This will be charged in conjunction with any early repayment adjustments.
Changing loan types
If you change your loan type or move to a new fixed interest rate you will incur a switch fee of $250.00.
Unpaid local body rates
If ASB has to collect unpaid rates on behalf of a local council these fees will be applicable:
- Local body rates demand notice ? $50.00.
- Plus additional charge if ASB has to make a rates payment ? $60.00.
Loan default
If you default on your loan and the deduction account is overdrawn or in excess of any agreed limit, or the balance owing under your loan account exceeds the loan amount or the reducing limit, interest will be calculated daily on the overdrawn amount at the Unarranged Overdraft Interest Rate, until it is paid in full. Please note this interest rate is subject to change at any time.
| | |
| Unarranged Overdraft Interest Rate | 22.50% p.a. |
If you default on the terms of your loan and we have to write to you, you will be charged a fee of $50.00.
