Aussie Select Basic Variable Rate
The Aussie Select Basic Variable loan offers a competitive rate with a range of features, no ongoing management fees, and competitive interest rates to suit your particular situation.
Interest Rate ?
Variable Rate from - 5.15% p.a.
Comparison Rate* - 5.16% p.a.
Loan Size ?
Minimum - $100,000
Maximum - $5,000,000
Maximum Loan to Valuation Ratio ?
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
Yes. Unlimited free internet redraws, phone redraws $50 each.
Internet, Phone, BPAY
LMI Capitalisation ?
Yes up to maximum LVR of 92%
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Loan Settlement Fee ?
Valuation Fee ?
1st valuation is Free,
$300 for 2nd and subsequent valuation.
Solicitors Fee ?
Advised by solicitor
No fees to withdraw via internet but $50 fee for each phone redraw. ($100 minimum redraw).
Split Loan ?
Create up to 4 split accounts on the one loan. Free to create pre-settlement. Post settlement split requests attract a fee of $100 per split.
Convert to fix ?
Yes at no extra cost
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What you get with this home loan
- Get discounted variable rates depending on the amount you borrow compared to the value of the property (loan to value ratio). The lower the LVR the higher the discount.
- 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. It's free to do this before settlement.
- Convert to a fixed rate – any time that you need to be certain about the amount of your monthly repayments.
- Choose to pay interest only.
- Choose between fortnightly and monthly repayments.
- Access our BPAY functionality.
You'll also get online access to view all transactions associated with your loan, and a printed statement every 6 months.
This loan is portable, but if you choose to switch the property acting as security there is a $300 fee.
What you need to know about this loan
- It's only for residential properties.
- The maximum loan term is 30 years.
- Splitting your loan after settlement will cost you $100.
- It's free to request a redraw online, but if you do it via our customer service team there's a charge of $50.
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.
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* Conditions, fees and charges apply. Comparison rate is calculated based on a loan size of $150,000 over 25 years. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. ^ Rates may include discounts applied according to Loan to Valuation Ratio and Loan Value. For a full schedule of applicable rates for these products, click here.
For Aussie Select Products credit services are provided by AHL Investments Pty Ltd ACN 105 265 861, ("Aussie") Australian Credit Licence Number 246786 and its appointed credit representatives. Credit is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian credit licence 414133.