The Finance Algorithm
Rate Money logoRate Money

Prime Construction Loan

Our construction home loan options provide interest only repayments during the construction period (max 18 months) with access to our online loan portal and the freedom to make additional repayments. 100% interest offset sub-account, redraw and VISA debit card+ access (monthly fees apply) are available after the construction period has been completed.

Home loansRates on applicationLender updated 3 Sept 2026

At a glance

Pricing
Rates on application
Annual fee
$120
Features
offset, redraw, extra repayments

Fees

7 fees published, grouped by when they're charged.

  1. When you take it outUp to $9995 fees, each listed below
  2. While you hold it$10 a monthPrime Admin Fee
  3. When you close it or pay it off$500Discharge Fee

When you take it out5

  • Legal Disbursements

    Third-party legal costs such as searches and registrations, charged at cost.

    Varies
  • Legal Fee

    Covers standard legal costs incurred at loan establishment.

    $330
  • Prime Establishment Fee

    Charged once at loan establishment for prime residential construction mortgage applications.

    $999
  • Risk Fee

    Risk Fee may be payable depending on loan amount and LVR.

    Varies
  • Valuation Fee
    Varies

While you hold it1

  • Prime Admin Fee

    Charged monthly per account split for ongoing administration of the loan.

    $10 a month

When you close it or pay it off1

  • Discharge Fee

    Charged per plan when the loan is fully discharged.

    $500

Features

Offset accountRedrawExtra repaymentsDigital banking
  • Flexible Loan Terms. 10-30 year loan terms are available.
  • Interest only repayments apply on the balance of the loan during the construction period (max 18 months). Loan then converts to Principal and Interest repayments.

Eligibility and limits

  • Minimum age 18
  • Residency: Only available to Australian Citizens or Permanent Residents.
  • Available to individuals
  • Available to businesses
  • Amount from $100,000, no maximum
  • All applications are subject to credit assessment and eligibility criteria.

Published by Rate Money under the Consumer Data Right, last changed by them on 3 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.