Base Variable Rate Loans
Base variable rate loans are suitable for borrowers who are not looking for the full range of features normally associated with the lender's standard variable loans. As a result, the base variable loan interest rate is usually priced at a lower level. They are often referred to as "no frills loans".
These loans will generally have a fluctuating, variable interest rate and may include a limited selection of special features. Additonal charges may apply for these to be activated.
Base Variable Rate Loans may still offer:
- Convenient repayment options
- Lump sum payments
- Redraw Facility
- Interest only Loans
Base Variable Rate Loans are appropriate for a client who is rate sensitive and looking for a basic, simple, low cost loan facility, without being tied up on a fixed term contract.
