Services Offered by Deposit Power Bank
The Deposit Bond
The deposit bond is the certificate that can be used as a replacement for the cash deposit the purchaser needs to pay when signing a contract of sale. It also acts as the guarantee of the deposit payment.
In other words, Deposit bonds are also known as deposit guarantees. This bond is widely accepted and facilitates the Australian citizen. These are accepted as a means of securing a property purchase.
In other words, the Deposit Bond has helped millions of buyers and sellers in the property sale process. These bonds are legal in every state and territory across Australia. These bonds can be issued for all or part of the deposit amount required, up to 10% of the purchase price.
Deposit bonds are generated to secure most types of properties with the settlement terms to match mostly the purchasers' needs. Most property purchases settle within 6 months or sooner, but many other situations require a longer settlement term, such as properties under construction and off-the-plan purchases.
The bonds are much more economical and with only a one-off fee required. There are no such ongoing fees or interest charges and thus making the bond valuable among the people. The fee also varies depending on the term of the deposit bond and the amount required.
It is to be noted that the fee for a short-term deposit bond is only 1.3% of the deposit bond amount. Therefore, the fee for a deposit bond of $50,000 will only be $650.
The Digital Deposit Bond
The Deposit Power Bank operates digitally. Thus, bonds are digital and delivered to you within seconds of being issued by the bank. Therefore your property can now be secured immediately using a Deposit Power digital deposit bond.
When the bank issues the digital deposit bond, the client will receive an email with a secure link to view the deposit bond. Using QR technology, the bond can be securely shared between digital devices, thus enabling you to secure your new property faster. You can also forward the email to other interested parties as evidence of your deposit bond.