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MyState 3 Year INV Fixed 2.39% PI and IO 2.49%, $3,000 Cashback on Refinance and up to $1,000 Broker Rebate

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Interesting option for Ozbargain members who are thinking to refinance for a generous cashback of $3000 with no package fee for life of the loan. Quick turnaround time in 3 days with FastRefi which allows a quick settlement in a couple days once loan contract is signed and certified by MyState.
Fully assessed preapproval is available for purchase application in a turnaround time of 3 days. Variable rates start from 2.39% with full offset account and no package fee.

Key rates are the following:

Investment - Principal and Interest
3 years P&I - 2.39% p.a. comp rate 3.87% p.a.
Variable P&I - 2.64% p.a. comp rate 2.67% p.a.
Minimum loan of $250k up to 90% LVR

Investment - Interest Only
3 years P&I - 2.49 p.a. comp rate 3.91% p.a.
Variable – 2.94% p.a. comp rate 2.97% p.a.
Minimum loan of $250k up to 90% LVR

Owner Occupied - Principal and Interest
2 or 3 years P&I – 2.09% p.a. comp rate 3.97% p.a and 3.8% respectively.
Variable P&I - 2.39% p.a. comp rate 2.42% p.a.
Other rates are available on request as we are mainly showing Mystate’s top rates.

$3,000 Cashback Requirements

Must apply by 30 September 2021
Must settle within 90 days
Minimum loan amount of $250,000
Maximum 1 cashback per primary borrower

Broker Rebate Terms and Conditions

We are offering a $500 upfront cashback for loan greater than $500k (excluding offset and redraw) for any fixed term loan of 2 years or more. $1,000 upfront cashback for loans $1M and above (excluding offset and redraw) for any fixed term loan of 2 years or more.
Maximum of 1 cashback per household (e.g. per couple).

Comparison Rates

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $350,000 over a loan term of 30 years.

Other refinancing rebates available when valuation is not favorable as we can order multiple valuations:

Citibank - Get up to $4,000 cashback when you refinance your home loan until 31 Aug 2021 T&Cs apply.CBA - Get $2,000 cashback when you refinance until 30 Sep 2021 T&Cs apply.
St. George - Receive up to $3,000 cashback when you refinance from 31 Aug 2021. T&Cs apply.
ANZ - Get $3,000 cashback when you refinance your home loan until 30 Jul 2021 T&Cs apply.
Virgin - Get up to $3,000 cashback when you refinance your home loan until 29 Aug 2021 T&Cs apply.
ING - Get up to $3,000 cashback when you refinance your home loan until 30 Sep 2021 T&Cs apply.

How to Apply

Any advice is tailored to your financial situation. Our platform would simplify the lending process and our team will ensure that you are updated throughout the whole process.
For further details about this deal or other 30 lenders we work with, please contact us directly.
Other Important Information: Applications are subject to credit approval of the respective lender applied to. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change.

Contact me for a no obligation meeting via Calendly or call me directly.

https://calendly.com/james-sim
James Sim - Senior Mortgage Broker
M: 02 8319 4862 / 0487 000 098
E: [email protected]
W: https://www.nectarmortgages.com.au/project/james-sim/ or http://jamessimbroker.com.au
Australian Credit Licence number 387856
Recent review

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closed Comments

  • Decent offer when factoring no annual fee compared with the popular HSBC deal. Reviews aren’t great though, this is my first time hearing about Mystate, wonder if anyone here has experience with them.

    • I’m a bit weary as never heard of them either

      • They are Tasmanian, some slight presence in mainland but not much. Call centre is all based in tas also.

  • +2

    Why the comparison rate so high 3.87% when there is no package fee.
    Please explain. Thank you

    What is the maximum extra payment per year?

    • 10k/year

    • Hi Surat,
      Generally, fixed home loan is reverting to standard variable once fixed period is lapsed.
      Clients can easily roll into a new loan product in Mystate or exploring other banks.
      thanks
      James

  • I was a MyState customer for a very long time. They are a decent bank here in Tasmania. If I could be bothered I'd look into this offer.

  • Quick turnaround time in 3 days with FastRefi which allows a quick settlement in a couple days once loan contract is signed and certified by MyState.

    What does this mean? Is this once everything has been verified and processed? How long will it take to get to that stage?

    My last refinance took like 3 months with some backyard bank and I don't want to go through that again.

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