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What is a Professional Package?

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People employed in certain professions (engineers, medical practitioners, solicitors, etc) or those earning over $50,000 per year may wish to consider a professional package.

These packages offer an interest rate discounts that lower than the standard variable loan rate on offer for the life of the loan. Professional packs also combine all the fees into one annual payment which includes any application fees and ongoing costs associated with the loan

Other components of a professional pack can include fee – free transactions on credit card accounts, discounted insurance products and free accounts.

Lenders do this to consolidate a borrower’s range of products with the one institution.


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