Standard Variable Rate Loans

Break down

  • Most popular loan facility choice, in Australia
  • This facility allows you to borrow money for a set period of time (usually 25-30 years)
  • During this term you make regular repayments, based on the current interest rate. The interest rate being a variable rate can vary depending on fluctuations in the official cash rate, based on the Reserve Bank.
  • You can make Additional repayments with- out incurring any penalty, this allows you to pay off your loan earlier as well!
  • You can also have a redraw facility with this loan, which enables you to 'redraw' the additional repayments (if required)
  • Certain Lenders also offer a 100% offset facility with most of their products as well
  • Most Lender's have interest rate discounts on the amount that is borrowed, which can also be extremely competitive

Drawbacks :

  • If interest rates rise, so does your repayments accordingly

If you have any queries regarding any Finance, Mortgage or Insurance or any other matter,
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