Basic Variable Home Loan (LVR < 80%)
- Last updated on 09 Jul 2020
Smart Home Loan
specialGet one of the lowest variable interest rates on the market and pay no application or ongoing fees
Get one of the lowest variable interest rates on the market
Smart Home Loan
based on $300,000 loan amount for 25 years
- No ongoing fees
- Parents can sign as guarantor
- Extra repayments + redraw services
- Free redraw facility
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$350k - $4m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
LMI required for loans with LVR > 80%. For loans with LVR between 80.01%-85% (Without LMI), add 0.25% p.a.
Compare and review home loans with similar features
Citibank was the first foreign-owned bank to be granted a banking license in Australia, in 1985. It’s part of Citigroup, one of the largest financial services organisations in the world, which has been around for over two centuries.
Over 1,600 people work for Citibank in Australia, and it has around a million customers. Citibank has six branches in Australia, three in Sydney and one each in Melbourne, Brisbane and Perth, as well as extensive online and phone services.
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).