You are lucky that you bank didn't charge you much previously for a break in fee's.
This can be astronomical in some cases. Shopping around is the way to go but not sure how much longer this can last. Who knows what the reserve bank will do to try to stop the battle of the banks. Hike up the wholesale rate? personally, I would prefer the cash to be offset against the term. Maybe if they are willing to fix part and allow you a small percentage on floating?
That is a very low rate for such a long term. The bank would be betting on interest rates on increasing too much but noone know, so quite a gamble to get customers I think.
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