Switch from a big four bank and it could lead to savings “The minimum days between one of our customers being approved and settled is just three days,” a company spokeswoman said. The online bank boasts a speedy turnaround time on applications due to its “auto assessment” technology. Tic:Toc is offering an offset account as an option on its variable rate loan. Most variable home loans come with an offset account, a transaction account where the repayments made reduce the balance owing, but can also be withdrawn if needed. Keep in mind a deposit below 20 per cent will likely incur lenders mortgage insurance, a bank tax that generally costs thousands. Home buyers will need a deposit of 10 per cent to be eligible. “The best part is, our digital application and assessment process means a faster and simpler experience.” What other important info should I know? “This home loan is perfect for anyone looking to buy or refinance their home,” Laura Osti said, head of marketing at TicToc. ![]() Minimal fees help keep the comparison rate low too at 2.20 per cent. Take out the revised principal-plus-interest home loan and the advertised rate will be 2.19 per cent. ![]() The company, renowned for its quick turnaround times and backed by both Bendigo and Adelaide Bank, slashed interest rates today on its variable home loans. Online lender TicToc has cut interest rates on its home loans a fortnight before a possibly historic rate cut, positioning its product alongside some of the most competitive in the market.
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