Standard Variable Investment Loan (Principal and Interest) (New Customer) (Amounts $250k+)
- Last updated on 09 Jul 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
$250k - $100m
Principal & interest
Loan term range
5 - 30 years
Partial offset account
Redraw fee: $0
Allows split interest
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
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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).
‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.
By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.