Basic Home Loan
- Last updated on 11 Jul 2020
based on $300,000 loan amount for 25 years
- 100% full offset account
- Suitable for low deposits
- Extra repayments + redraw services
- Free redraw facility
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$50k - $100m
Principal & interest
Loan term range
1 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $0
Allows split interest
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
Compare and review home loans with similar features
Horizon Bank was initially formed in 1964 from Illawarra Country Council Staff Credit Union Ltd. Five other credit unions have joined during the course of Horizon’s history.
Horizon Bank continues to maintain its dedication to enhance their members’ lifestyles by offering exceptional products and services and by delivering financial advices in a friendly and efficient manner. In September 2019, Horizon Credit Union commenced trading under the name 'Horizon Bank'
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).
When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.
We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.