What is a Deposit Power Guarantee?

A Deposit Power Guarantee is a guarantee or bond that substitutes for a cash deposit between signing contracts and settlements. This can be useful if your cash deposit is tied up in other investments or if you want to keep your cash free.

Deposit Power can be issued for all or part of the deposit amount required, and is usually required for up to 10% of the purchase price.

The Deposit Power products available include Standard Term for settlement terms up to 6 months or Long Term for settlement terms between 12 and 36 months.

Who can apply for a Deposit Power Guarantee?

• Existing property owners who wish to purchase property;
• investors who wish to expand their property portfolio; and
• first home buyers.

A deposit bond can usually be approved and issued within 24 hours of your application.

Talk to your local IMB Home Loan Specialist for more information.

^{Deposit Power is a division of Vero Insurance Limited ABN 48 005 297 807. Deposit Power Guarantee is issued by Vero Insurance Limited.}