Variable Interest Rates

Product	Interest rate	Comparison rate
Discount Saver
Optimiser	^
Flexi Plus
Line of Credit
LoDoc
LoDoc Line of Credit
Construction

Variable interest rates updated 08 september2011
^{^}  variable interest rate on Line of Credit portion of loan (CCR  )

Variable Rate

This rate is a benchmark used by all home loan lenders and varies in line with the movements in financial markets. Your repayments could go up or down with the Reserve Bank's rates or as the market changes.

Comparison Rate

This shows you the real rate you pay, once the fees and other loan costs are taken into account. This figure allows you to compare home loans offered by all banks, non-bank lenders and credit unions. It factors in such things as honeymoon rates and fees and is a regulatory requirement. It is calculated based on a $150,000 loan over a 25 year period. For a more accurate comparison rate please refer to our Comparison Rate Schedule and select the product, term and loan amount that most closely corresponds with your loan.

Split Loans

You can split your home loan into as many as four sub-accounts after the settlement date. This means you can split your loan between fixed and variable rates, as well as Principal & Interest and Interest Only repayments. With the variable rate you've also got the bonus of a free offset redraw facility, so that every dollar you keep as redraw reduces the daily interest accrued on that part of your home loan.