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TruBlu - Naming of Loan Account

What sets it apart from the rest...

Austral’s TruBlu loan gives you the ability to customise the account title on each loan/card account split under your loan. That is, in place of having a generic account title i.e. “Variable Rate P&I”, you are able to rename each loan/card account split. The account title appears on the following documents:

LinkLoan Online - your online account management system
Settlement Letter
Loan Statements

Benefits:

Here are two examples of how tailoring individual and unique account title/s for each loan/card account split can assist you:

Example 1:
1 Loan with 2 loan accounts, split according to personal/home and investment/business debt. This example allows you to clearly identify the loan account from which redraw is to be drawn depending on the purpose those redrawn funds are to be used. As statements are issued on each loan account split, the interest charged on each loan account is clearly identifiable as either deductible or non deductible for tax purposes

Loan Account No.	Generic Account Title	Example Tailored Account Title
1	Variable Rate P&I	Home Loan - Parramatta
2	Variable Rate Interest Only	Investment Loan - Noosa

Example 2:
1 Loan with 4 loan accounts, split according to notional individual responsibility (legally all borrowers remain jointly and severally liable for the entire debt). With families/friends combining forces to purchase property/investments etc, the use of account splits is a simple and effective method of separating the notional responsibility/liability (i.e. payments, redraws, interest) for each loan accounts.

Loan Account No.	Generic Account Title	Example Tailored Account Title
1	Variable Rate P&I	John Citizen
2	Variable Rate Interest Only	Jane Citizen
3	Line of Credit	Jame Resident
4	Line of Credit	Jill Resident

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