Prudent Saver


RateCity has identified three types of savers that have a variable home loan. The first is a prudent saver who makes the same higher repayments after interest rates drop. It is a wise strategy to be a prudent saver because when interest rates rise again the prudent saver will not be impacted by the higher repayments. This is because the prudent saver is already paying an even higher rate each month.

Also, by the time interest rates are on the rise once again, the prudent saver would have reduced their loan debt therefore making their repayments drop. If you take up the prudent saver strategy you can potentially save over $100,000 off your home loan and reduce the loan size by years, depending on the extra amount you add each month.

The table below displays todaya??s best home loans offered by banks.

Related Products

Company Product AAPR Rate Maximum Loan Amount Minimum Loan Amount Ongoing Fee Rate Type Upfront Fee Apply
ANZ ANZ Standard Variable 6.91 699999.99 20000 5/m VARIABLE 600 Apply
Commonwealth Bank Commonwealth Bank Standard Variable Loan 6.86 999999999 10000 8/m VARIABLE 750 Apply
St George Bank St George Bank Standard Variable 6.93 999999999 10000 10/m VARIABLE 700 Apply
nab nab Base Var Rate Discount1 6.24 999999999 20000 Nil VARIABLE 600 Apply
nab nab Tailored Home Loan Var 6.74 999999999 20000 8/m VARIABLE 600 Apply
nab nab Base Var Rate Home Loan 6.53 999999999 20000 Nil VARIABLE 600 Apply
nab nab Inv Base Var Rate Disc2 6.24 999999999 20000 Nil VARIABLE 600 Apply
nab nab Inv Base Var Rate HL 6.53 999999999 20000 Nil VARIABLE 600 Apply
nab nab Base Var Rate Discount2 6.24 999999999 20000 Nil VARIABLE 600 Apply