- Home
- Home Loans
- Bank of China
- Standard Variable Rate Home Loan
Standard Variable Rate Home Loan
- Special
- Owner Occupied
- Variable
- 10% min deposit
- Interest Only
Waived first year annual fee of $395 for all new applications if a direct debit account of loan repayments.
Promotional rates and cashback offer available for loan applications received from 1 April 2024 to 30 June 2024 and settled before 30 September 2024. Promotional rates and cashback offer available for loan applications fully assessed on Australian Income with an LVR ≤ 80%. No special offers for LMI applications. T&Cs apply.
Interest rate p.a.
8.39%
Comparison rate* p.a.
8.45%
Standard Variable Rate Home Loan
- Special
- Owner Occupied
- Variable
- 10% min deposit
- Interest Only
Interest rate p.a.
8.39%
Comparison rate* p.a.
8.45%
Bank of China Variable Rate Home Loan overview
For Standard Variable Rate Home Loan (Interest Only)
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
90%
Total repayments
Interest rate type
Variable
Borrowing range
$0 - $100m
Suitable for
Owner Occupiers
Loan term range
0 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit Bank of China to view Target Market Determination.
Features
Extra repayments
Unlimited
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Fees
Total estimated upfront fees
$350
Application fee
$350
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$250
Other Restrictions
Other fees may apply
Pros and Cons
For Standard Variable Rate Home Loan
Benefits
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
Drawbacks
- No offset account
- Higher than average interest rate
- Not available for first home buyers
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
