Basic Variable Loan
Get a loan that's simple to use and easy to understand. Just a great low rate that helps you pay your home off faster. Available on new loans $100,000+, borrowing less than 90% of the property value subject to loan approval and lenders mortgage insurance requirements, with flexible repayment options, weekly, fortnightly or monthly. Plus your deposit is eligible for Parental Guarantee.
- From (owner occupied)
- 6.09%
- 6.12% comparison
Interest Rates
Owner occupied — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 6.09% | 6.12% | LVR <=70% |
| Variable | 6.09% | 6.12% | LVR <=80% |
| Variable | 6.09% | 6.12% | Home Guarantee Scheme |
| Variable | 6.09% | 6.12% | LVR <=60% |
| Variable | 6.39% | 6.42% | LVR <=90% |
| Variable | 7.29% | 7.32% | LVR <=100% |
Owner occupied — Interest only
Fees
| Fee | Type | Amount |
|---|---|---|
| Settlement Fee | Upfront | |
| Establishment Fee | Upfront | |
| Mortgage preparation Payable on the preparation of each new mortgage over the goods or property required to secure this loan contract | Event | |
| Progressive draw (per draw) Payable on an approval of each progressive draw request. | Event | |
| Subsequent dealing Payable on a request for each consent given or subsequent dealing request approved under this loan contract. | Event | |
| Title production Payable upon a request to produce the certificate of title. | Event | |
| Letter of Variation Payable on approval of each variation under this loan contract. | Event | |
Features
- What is Lenders Mortgage Insurance? Also known as LMI, this is insurance that generally protects the lender in the event you default on your repayments. This insurance is required if you're borrowing more than 80% of the property value.
- Redraw facility
- Access any extra repayments you have made above your minimum monthly repayment requirement.
- Extra repayments
- Additional repayments. Make unlimited additional repayments
- Digital banking
- Just another way you can connect your money with your lifestyle. From banking easily on the go with the MyState Bank App, or at home through Internet Banking, to making faster payments with digital wallets or PayID, there are more ways than ever to access your money. Keeping your bank accounts safe is a key priority for us, so you can be confident starting today.
Eligibility
- Residency status — An Australian citizen or permanent resident
- Minimum age — 18 yearsA customer is or older than 18 years of age
Constraints
- Minimum balance — $100,000.00A $100,000 minimum balance is required for all Basic and Special Residential Variable loans
More Information
Published by MyState Bank under the Consumer Data Right · Last updated 30 June 2026 · Product ID fb4d69dc-3c6f-4881-b119-e7ef24574402 · View on CDR.gov.au