Commission Rates

Notes & Definitions

Clawbacks

The initial Upfront commission will be calculated based on the offset loan amount averaged over 5 days from the settlement date

A Revised Upfront commission will be calculated and payable 12 months after settlement based on the offset loan amount averaged over the year, minus the inital Upfront commission.

The amount of upfront commission payable is calculated on the draw down amount.

If a new loan facility is being used to pay out an existing loan, then the loan amount for the purposes of calculating upfront commission will be the difference between the new loan amount and the amount of the payout (and no upfront commission is payable if the new loan amount is less than the amount of the payout).

Trail is paid calculated on the amount of the loan which has not been repaid, and if the loan is a Home Loan with an Offset Facility, further deduct the Offset Balance at the relevant time.

Trail commission is not paid on an overdue loan. Payment of trail will recommence if the default is rectified however no trail commission is payable for the period that the loan is in arrears.

Residential property loan: includes those with an optional mortgage offset account facility, for amounts of not less than $100,000 and not more than $8 million which satisfy Bank of China credit policy.