At a glance
- Variable
- 8.74%8.82% comparison
- Loan size
- $50,000 to $2,000,000
- Upfront fee
- $995
- Monthly fee
- $0
How it compares
This overdraft in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
Lowest advertised rate open to anyone, including lines of credit secured against a home. One dot per institution, at its lowest personal overdraft or line of credit rate anyone can apply for; hover or tap a dot for its name.
| Rate | This overdraft | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Personal overdraft or line of creditLowest advertised rate open to anyone, including lines of credit secured against a home | 8.74% | 7.49%Police Credit Union Limited's Allegro Line of Credit | 9.25%of 15 institutions | 5th lowest of 15 |
Rates
The one rate Gateway Bank publishes for this overdraft.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableReverse Mortgage Home Loan (<=55% LVR) | Owner occupied, Interest only | - | - | 8.74% | 8.82% | - |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 14 Oct 2026 | Variable, Owner occupied, Interest only | 8.49% | 8.74% | up 0.25 |
Each change is logged the night it appears in the rates Gateway Bank publishes. See how every lender answered the RBA on the rate tracker.
Fees
10 fees published, grouped by when they're charged.
- When you take it outUp to $9952 fees, each listed below
- While you hold itNo feeMonthly Account Fee
- When you close it or pay it offUp to $3002 fees, each listed below
When you take it out2
- Settlement Fee
Settlement Fee includes application, legal and standard valuation fees (if property valued under $1m in metro locations and $500k in regional locations with a maximum land area of 2.2ha/5acres) Any a…
$995 - Valuation Fee
This fee may be payable at cost if the mortgaged property is valued at over $1 million in metropolitan locations and over $500,000 in regional locations
No fee
While you hold it1
- Monthly Account Fee
No ongoing monthly fee. Nil for Reverse Mortgages.
No fee
When you make a transaction1
- Additional Repayment Fee
Ongoing Repayments are optional, and you may repay the loan at any time. Nil for Reverse Mortgages.
No fee
When particular things happen4
- Additional Valuation Fee
Payable at cost if we or you decide to obtain an additional valuation report (which we may do at any time)
No fee - Security Variation
Payable if Gateway agrees to vary the security on an existing loan
$200 - Switch Fee
Switch Fee
$150 - Top-Up Fee
Payable at settlement when increasing loan borrowings
$200
When you close it or pay it off2
- Discharge Fee - First Security
Discharge Fee - First Security
$300 - Discharge Fee - Per Additional Security
Discharge Fee - Per Additional Security
$95
Features
Eligibility and limits
- Minimum age 18
- Amount $50,000 to $2,000,000
- Maximum LVR 55%
Compare it with others
Put this product through a calculator
Published by Gateway Bank under the Consumer Data Right, last changed by them on 13 Oct 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.