TruBlu - Other Features
What sets it apart from the rest...
 AUTOMATED PERIODIC/REGULAR REDRAWS:
TruBlu allows you the flexibility of creating a periodic redraw available either weekly, fortnightly or monthly to occur for either;
1. A predetermined period of time; or
2. Indefinitely / until further notice.
Benefits:
This will assist you in budgeting by enabling you to deposit all your income into the loan whilst a periodic redraw transfers funds into your nominated bank account to meet your daily living expenses. “Savings” appear in the form of redraw accumulated from the additional loan payments. Instead of earning low interest income in a passbook/cheque account, the additional loan payments made, reduces the outstanding loan balance and hence the amount of interest being charged to the loan account at the home loan rate.
Given periodic redraws can be set at either weekly, fortnightly or monthly intervals, if you maximise the period of time the additional loan payments remain in the loan account, you will reduce the interest charged as interest is calculated on the daily outstanding loan balance.
You enjoy the convenience of not having to log on to LinkLoan Online each time you need to redraw funds.
3rd PARTY REDRAWS / DIRECT DEBITS:
This facility provides you with the convenience of allowing 3rd party creditors (eg Health Care Funds, fitness centres, 3rd party credit card providers) to redraw directly from the loan account. You must ensure that the nominated loan account has redraw available. Therefore, it would be advisable to deposit all your income into the loan, thus reducing the outstanding loan balance and minimising the interest charged on your loan.
How to Effect this Option:
1. You should check with the 3rd Party creditor that they are able to run direct debits.
2. You should obtain and complete the relevant 3rd Party creditor’s direct debit form.
In completing the direct debit form:
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the Branch of the financial institution is Perpetual Trustee LinkLoan
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the Bank Account Title is your name |
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the BSB and Account Number is the 15 digit Account Reference Number (ARN), The first 6 digits is the BSB and the last 9 digits the account number. |
Please note that the ARN is the same number that you provide your employer to effect loan repayments via direct salary crediting. This number will be provided to you in the settlement letter issued shortly after loan settlement and can also be found on LinkLoan Online.
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