Standard Variable Home Loan (Principal and Interest)
- Last updated on 04 Apr 2020
based on $300,000 loan amount for 25 years
- No ongoing fees
- Suitable for low deposits
- Free redraw facility
- Repayments may decrease if RBA cuts rates
- No extra repayments
- Not available for first home buyer
- Repayments may increase if RBA raises rates
Interest rate structure
$20k - $100m
Principal & interest
Loan term range
5 - 30 years
Redraw fee: $0
Allows split interest
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.
The standard variable rate (SVR) is the interest rate a lender applies to their standard home loan. It is a variable interest rate which is normally used as a benchmark from which they price their other variable rate home loan products.
A standard variable rate home loan typically includes most, if not all the features the lender has on offer, such as an offset account, but it often comes with a higher interest rate attached than their most ‘basic’ product on offer (usually referred to as their basic variable rate mortgage).
No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Rate Guarantee.
However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.