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.