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Example Interest Rates: Home Loan Variable: 2.54% (2.74%*) • Home Loan Fixed: 3.74% (3.8%*) • Fixed: 2.48% (2.94%*) • Variable: 2.54% (2.74%*) • Investment IO: 2.3% (3.76%*) • Investment PI: 2.04% (3.8%*)

  Basic Variable Home Loan - Interest Only

Our Basic Variable Home & Investment Loans offers our lowest rate with no upfront or no ongoing monthly fee which enables you to make unlimited extra repayments to pay off your loan quicker.
Category: Home Loans  Last Updated November 23, 2020  Effective August 3, 2022

 General Lending Rates

Rates listed below are for a VARIABLE Owner Occupied Interest Only product. Additional Information Minimum $50,000 balance.
Interest Rate
5.73% PA
Comparison Rate
5.41%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  Basic Variable Home Loan IO (<80% LVR)
  • Lending Rate Type: Discount
  • Interest Rate: 0.25%, Comparison Rate 5.31%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  Basic Variable New Business Home Loan IO (<80% LVR)
  • Lending Rate Type: Discount
  • Interest Rate: 1.69%, Comparison Rate 3.62%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied
  Basic Variable New Business Home Loan (>80% LVR)
Minimum: 80 PERCENT Maximum: 95 PERCENT
  • Lending Rate Type: Discount
  • Interest Rate: 1.54%, Comparison Rate 3.77%
  • Repayment Type: Interest Only
  • Loan Purpose: Owner Occupied

 Product Features

  • Digital Banking
  • Redraw Additional Information: Access to extra cash if you’re ahead on your repayments.
  • Other Additional Information: Choose from a range of Home and Investment Loan options: Variable Package, 1 year or 2 year Fixed Package, Standard Variable or Basic Variable Loans.
  • Other Additional Information: Freedom to make unlimited extra repayments – reduce your loan term and save money
  • Other Additional Information: $0 Visa Credit Card Annual Fee - save $59.

 Product Eligibility

  • Natural Person - Personal Members Only.
  • Residency Status - Permanent Residents Of Australia Who Reside In Australia At The Time Of Membership Application Are Eligible For Membership, Regardless Of Citizenship Status..
  • Min Age - 18 Years And Over.
  • Other - Terms, Conditions, Fees, Charges And Lending Criteria Apply And Are Available On Application.

 Bank Fees and Charges

  • Security Handling Fee (Event), Amount: 150.00. Additional Information: Charged per occurrence. Payable in the following circumstances; deed of priority, title production, variation of priority, consent or name change.
  • Portability Fee (Event), Amount: 300.00. Additional Information: Charged per occasion when you wish to change the security(ies) against an existing loan(s) and there is no change to the existing loan(s) amount, loan interest rate or type, term of the loan(s), product type, borrowers or mortgagors. Discharge fees may also apply.
  • Top Up Fee (Event), Amount: 400.00. Additional Information: Payable when you request and we approve additional funds to your existing borrowings and there is no change to the security or borrowers.
  • Discharge Of Mortgage (Event), Amount: 350.00. Additional Information: For the preparation of a discharge of mortgage.
  • Progress Draw Fee (Event), Amount: 400.00. Additional Information: Payable per property when a loan will be drawn progressively for either construction or major renovation purposes. The fee includes the cost of all progress draws and the final inspection.
  • Documentation Fee (Event), Amount: 200.00. Additional Information: Payable in the following circumstances: preparation of an additional mortgage; preparation of a guarantee; or where documents have been cancelled or redone, at your request, after contracts have been issued.
  • Valuation Fee (Event), Amount: 0.00. Additional Information: Valuation Fee at cost and payable by member.

 Limitations & Restrictions (Constraints)

  • Min Limit of 50,000.00 Additional Information: Minimum loan size is $50,000.00

 Document Downloads

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