Reduce Home Loans Rate Buster Loan


The Reduce Home Loans Rate Buster Loan comes with a range of attractive features for borrowers.

These variable loans offer highly competitive interest rates and come packed with perks such as unlimited internet transactions and a range of payment options to help pay off your mortgage faster.

The interest rates on the Rate Buster Variable Home Loans vary depending on the size of your deposit, however they are generally on the low side, especially when compared to the big banks.

The loan allows you to borrow a maximum of 90 percent of the purchase price, however loans with less than a 20 percent deposit and required to pay lenders mortgage insurance.

Regardless of your deposit size, all Rate Buster loans come with the option of both a redraw facility and a 100 percent offset account which can help you reduce the amount of interest you pay on the loan.

This loan lets you choose between fortnightly or monthly repayment schedules and gives you the option of making additional repayments without incurring additional fees. Additional options include an interest-only payment option.

An additional feature of this loan is a ‘good behaviour’ rate discount. If you’ve got a good payment history over a period of five years, you may be eligible for a rate reduction.

Who is the Reduce Home Loans Rate Buster Loan good for?

There is a lot of flexibility in the Rate Buster Loan, making it appealing to a wide range of borrowers.

Unlimited transactions including free phone and internet transactions, free EFTPOS and BPAY are great for accounts with a lot of activity.

The low variable interest rates are appealing to owner occupiers, however some first home buyers may be put off by the need for a larger deposit. The interest-only option is also likely to draw some investors in.

Review - What RateCity says

The Rate Buster Loan has one of the most competitive rates on the market and is packed with valuable features, however the high upfront fees may deter some borrowers, particularly refinancers. The key here is to work out what savings you might make on a lower rate, after you’ve take these fees into account.

As Reduce Home Loans is an online-only lender and has no physical branches, this may be limiting for those who prefer face-to-face customer support.

If you do decide to refinance with another lender, the mortgage discharge fee is comparatively higher, which is another consideration. All in all, if you’ve saved at least a 20 percent deposit, the low rates attached to this loan is worth exploring.

Reduce Home Loans Rate Buster Loan Options

The Reduce Home Loans Rate Buster Loan offers competitive interest rates and is available for owner-occupiers, investors and refinancers. As interest rates vary depending on the size of your deposit, click to find a loan that suits you.

Variable Rates from


Advertised rate


Comparison rate
  • No ongoing monthly fees.
  • 100 percent offset facility and redraw option.
  • No charge on additional payments.
  • High upfront fees.
  • High discharge fees.
  • Maximum loan amount of 90 percent.

Must provide proof of employment and income.

Must provide a breakdown of assets and liabilities.

Must be over 18 years of age.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $250.00 - $920.00
  • Discharge fees: $0
  • Ongoing fees: $0

The upfront fees of this loan are higher than many other variable loans. In saying that, the Rate Buster Loan does have an attractive interest rate and the offer of a ‘good behaviour’ discount which may help offset the higher upfront fees.

The Reduce Home Loans Rate Buster Loan has no ongoing monthly fees but does have a high discharge fee payable when the loan ends. If you refinance with another Reduce Home Loans product, this fee is waived.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Reduce Home Loans

Reduce Home Loans is an Australian owned and operated online lender with no bricks and mortar branches. Since 2010 Reduce Home Loans have been servicing Australians with their award-winning loans.

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