Comparison rate
A rate that includes some fees and charges, giving you a better idea of the total cost of a loan and allows you to compare this with other lenders.
Fixed rate
A rate that stays the same for a set period (e.g. 1-5 years). It gives you predictable repayments.
Variable rate
A rate that can fluctuate based on the market. It offers more flexibility, especially if you want to make extra repayments.
A transaction account linked to your home loan. The balance is ‘offset’ against your loan, helping reduce the interest you pay.1
Allows you to access and use funds from any extra repayments you’ve made to your loan.2
The amount you’re borrowing compared to your home’s value, expressed as a percentage.
Repayments that cover both the amount you borrowed (principal) and the interest charged.
A loan divided into fixed and variable portions, providing some flexibility and stability at the same time.
Repayments that only cover interest for a set period, you don’t pay down the principal during this time.
Switching your home loan to a new loan, either with the same lender or a different one, usually to get a better rate or features.
1Available on our Complete and Premier Package Home Loans.
2For our redraw facility, the minimum redraw is $500.
