CHEAPEST MARGIN LOANS
GOLD WINNER WESTPAC Low rates plus a strong features list put the investor in the box seat
Westpac has now won this award four years in a row. For investors who want to keep a tight rein on their costs, the Westpac product fits the bill, offering customers some of the cheapest variable and fixed rates in the market, says Emily Horton, a research analyst at Canstar.
“For a loan amount of $50,000, Westpac’s variable rate was 1.49% lower than the market average, and its fixed rate was sitting 1.07% below the market average,” she says.
Westpac gives its customers an array of features including the ability to transact on their loan account online 24 hours a day, seven days a week. It also gives them a complete picture of their borrowings and shares in the one place.
The second placegetter for two years in a row, Leveraged Equities offers its customers Instalment Plus, combining regular investment with borrowing to invest to enable them to progressively build an investment portfolio.
You need $1000 with a minimum loan of $2000 to get started, with a minimum monthly contribution of $250. You can construct a portfolio from a range of more than 60 managed funds.