Basic Variable Home Loan
A simple loan product with redraw and a low ongoing rate. New borrowers pay no establishment or monthly loan administration fees.
- From (owner occupied)
- 5.99%
- 6.05% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Owner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 60% of less. Eligibility for new borrower specials for customers seeking both fixed and variable rates will be based on the combined loan amount. | 5.99% | 6.05% | — |
| Variable Owner occupier, principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 80% of less. Eligibility for new borrower specials for customers seeking both fixed and variable rates will be based on the combined loan amount. | 6.09% | 6.15% | — |
| Variable Owner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 85% of less. Eligibility for new borrower specials for customers seeking both fixed and variable rates will be based on the combined loan amount. | 6.09% | 6.15% | — |
| Variable Owner occupier, First Home Buyer principal and interest repayments only. Minimum new loan amount of $150,000, with a loan to valuation ratio of 90% of less. Eligibility for new borrower specials for customers seeking both fixed and variable rates will be based on the combined loan amount. | 6.34% | 6.4% |
Fees
| Fee | Type | Amount |
|---|---|---|
Establishment Fee
| Upfront | $300.00 |
| Loan Increase Fee | Upfront | $300.00 |
| Valuation Fee Valuation Fee - Residential $300; Valuation Fee - Non-Residential is at cost. Includes commercial, rural & rural lifestyle properties over 30ha. | Upfront | $300.00 |
| Legal Fee Legal Fee - residential $200; Legal Fee - Non Residential at cost. | Upfront | $200.00 |
| Redraw Fee - Assisted | Transaction | $25.00 |
| Redraw Fee - Electronic | Transaction | $0.00 |
| Contract Variation/Consent Fee | Event | $300.00 |
Features
- Digital banking
- Open accounts, check balances, view transactions, transfer funds, schedule payments, BPAY, eStatements, SMS alerts, activate cards, change card PIN, mark card lost or stolen, loan redraw, loan status update, accept loan contracts and send secure messages.
- Extra repayments
- Unlimited extra repayments
- Guarantor supported
- Notifications — Event based notifications.
- Real-time payments (NPP)
- PayID
- Set up a pay ID to receive lightning fast payments.
- Save on paper, receive and view your statements online with eStatements.
Eligibility
- Minimum age — 18 years
- Individuals only
- Lending criteria apply.
- Residency status — An eligibility constraint based on residency status applies.
Constraints
- Minimum limit — $30,000.00
More Information
Published by Summerland Bank under the Consumer Data Right · Last updated 16 July 2026 · Product ID 78 · View on CDR.gov.au · View Source Data (JSON)