Home Loans

Deposit Bonds

Do you need to pay your deposit on your new home but don’t have immediate access to your funds?

When you sign a home loan contract you may need to pay up to 10% of the purchase price. But you may not have immediate access to your deposit funds if the sale of your existing home hasn't been settled or if you don’t want to pay a penalty for breaking a term investment.

A Greater Building Society Deposit Power Bond comes to the rescue! It is a guarantee to the vendor for all or part of the deposit required, until settlement. You pay the total purchase price (including the deposit) at the time of settlement, as agreed in the contract of sale. A Deposit Bond is not an alternative to not having sufficient funds for a deposit.

Benefits of a Deposit Bond

  • Quick to arrange - usually within 24 hours
  • No need to arrange expensive, short-term bridging finance
  • Inexpensive. The Bond Fee is calculated on a sliding scale depending on the amount you require.
    • A $10,000 Deposit Bond costs $120.00
    • A $15,000 Deposit Bond costs $180.00
    • A $20,000 Deposit Bond costs $240.00

Applying for Greater Deposit Power Bond is easy

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