Aussie Standard Variable Rate
Home Loan
If you want a standard variable home loan, with a range of flexible features that can be accessed at no extra cost, this might be the loan you need.
Interest Rate
Variable Rate -
Comparison Rate -
Loan Size
Minimum - $50,000
Maximum - $2,500,000
Maximum Loan to Valuation Ratio
90%
Loan Repayments
Principal & Interest or Interest Only
Interest Only: Maximum term of 5 yrs
Payment Frequency
Fortnightly or Monthly
Paid By
Direct Debit or Direct Salary Crediting
Additional Payments
Yes, any time free of charge
LMI Capitalisation
means you have the option to borrow the cost of the insurance as part of your loan
Yes up to maximum LVR of 90%
Lenders document fee
$100
Valuation Fee
$200 per valuation
Solicitors Fee
Advised by solicitor
Redraw
No fees to withdraw money from your home loan via internet or telephone banking but if you do it via the customer service team there is a charge of $50
For manual redraw the min is $2,000 and is conducted via phone #13 33 33
For automatic redraw the min is $1,000 which customers can conduct via the self service telephone function or the Aussie website, after their access has been set up
Split Loan
Yes at no extra cost
Maximum 2 splits available
Convert to fix
Yes at no extra cost
Deferred Establishment Fee
you only need to pay DEF if you pay out the loan with in the first five years.
$2,000 (Year 1)
$1,500 (Year 2)
$1,000 (Year 3)
$500 (Year 4 & 5)
Variations
you can apply for an increase to the principal 6 months after settlement. All loan variations are subject to approval
$410 variation fee
What you get with this home loan
A load of flexible features, with no ongoing management fees. With the Aussie Standard Variable Loan you can:
- Redraw - make additional repayments to reduce your interest and redraw the extra funds whenever you need them.
- Split the loan – fix the rate on part of it.
- Convert to a fixed rate – you can do this at any time that you need to be sure about your monthly repayment amount.
- Choose to pay interest only.
- Choose between fortnightly and monthly repayments.
You’ll also get online access to view all transactions associated with your loan, plus a printed statement every 6 months.
This loan is portable, but if you choose to switch the property acting as security there is a $600 fee.
What you need to know about this loan
- It’s only for residential properties.
- The maximum loan term is 30 years.
Amount you can borrow
We assess the maximum amount that can be borrowed on a case by case basis. We generally consider a few things such as the size of your deposit and the Loan to Value Ratio (LVR). The LVR is the percentage of the property’s value you wish to borrow.
How to make this loan work best for you
Get your salary paid into your loan account and redraw the funds you need. Remember, redraws are free if you request them online. This way you can reduce the amount of interest you need to pay and save money.