Standard Variable Rate loans are suitable for borrowers who are looking for a very flexible and competitvely priced loan, with all the "bells and whistles", but without being tied up to a fixed interest rate contract.
The interest rate fluctuates during the life of the loan and most have the option to switch to another interest rate type at any time. These loans are designed to assist with the purchase of a new home or investment property, renovations, holidays, upgrading your car or most other personal needs.
Some of the features available are:
- Additional Payments
- Redraw
- Flexible repayment options e.g.-weekly, fortnightly or monthly
- Offset facilities available
- Borrowings up to 100% of the valuation of the security in some cases
- Additional loans
- Flexibility
- Minimum loan amounts and terms may apply
- Maximum term is normally 30 years
