Aussie Select Standard Variable Home Loan

A variable rate home loan which offers repayment flexibility, unlimited extra repayments and an unlimited redraw facility.

The Aussie Select Standard Variable Home Loan is a variable rate loan that offers a number of features without hefty fees. This loan offers a competitive interest rate and allows you to borrow as much as 95% of a property's value. It offers repayment flexibility in a range of ways, and it also enables you to pay your loan off sooner without having to pay any penalties.

If you're taking this loan for investment purposes, you can make interest-only payments for up to five years, and you can also choose to take out this loan if you want to keep your repayments low during the initial period.

Aussie offers other variable rate loans as well, which include the Aussie Select Basic Variable Home Loan and the Aussie Select Premium Variable Home Loan.

Interest Rate Max Insured LVR Max LVR
(LVR <= 70%) (Owner Occupier, IO)
4.29% p.a.
Comparison Rate
4.48% p.a.
70% 70%
(LVR <= 70%) (Owner Occupier, P&I)
3.84% p.a.
Comparison Rate
4.03% p.a.
80% 80%
(LVR > 90%) (Owner Occupier, P&I)
4.14% p.a.
Comparison Rate
4.33% p.a.
95% 80%
(LVR 80.01% to 90%) (Investor, IO)
4.89% p.a.
Comparison Rate
5.07% p.a.
90% 80%
(LVR 80.01% to 90%) (Investor,P&I)
4.44% p.a.
Comparison Rate
4.63% p.a.
90% 80%
(LVR 80.01% to 90%) (Owner Occupier, P&I)
3.84% p.a.
Comparison Rate
4.03% p.a.
90% 80%
(LVR <= 70%) (Investor, IO)
4.79% p.a.
Comparison Rate
4.97% p.a.
80% 80%
(LVR <= 70%) (Investor, P&I)
4.24% p.a.
Comparison Rate
4.43% p.a.
80% 80%
(LVR 70.01% to 80%) (Investor, IO)
4.79% p.a.
Comparison Rate
4.97% p.a.
90% 80%
(LVR 70.01% to 80%) (Investor, P&I)
4.34% p.a.
Comparison Rate
4.53% p.a.
90% 80%
(LVR 70.01% to 80%) (Owner Occupier, IO)
4.29% p.a.
Comparison Rate
4.48% p.a.
80% 70.01%
(LVR 70.01% to 80%) (Owner Occupier, P&I)
3.84% p.a.
Comparison Rate
4.03% p.a.
80% 70.01%
Product NameAussie Select Standard Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$5,000,000
Minimum Loan Term5 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$535


  • $0 application fee.
  • Maximum LVR of 95%.


  • No offset account.
  • There is a $535 exit fee.

Things to consider about the Aussie Select Standard Variable Home Loan.

You can apply for this loan if you want to buy a residential property to live in or for investment purposes, and the maximum loan term is 30 years. This loan offers portability, which means you can transfer this loan to a different property, but doing this attracts a fee.

It should be noted that this loan is a full documentation loan, meaning the full range of income evidence is required. Aussie offers low doc loans for those who can’t adequately prove their income.

Features of the Aussie Select Standard Variable Home Loan

  • Loan amount. The minimum you can borrow through this loan is $100,000and the maximum stands at $5,000,000. What you have to keep in mind is that the maximum any individual can borrow depends on aspects including your LVR and the size of your deposit to name a few.
  • Maximum LVR. The maximum LVR allowed is 95%, although any amounts over 80% will require you to pay for Lender’s Mortgage Insurance (LMI). As part of the LMI capitalisation option you can add the cost of the LMI onto the loan.
  • Repayment flexibility. In addition to making principal and interest payments, you have the option to make interest-only repayments for the first five years. Your repayments can be fortnightly or monthly. When it comes to making regular repayments, you can set up direct salary crediting or direct debit, and this helps to ensure that you won't miss a payment. You can also make repayments via BPAY. This loan also allows unlimited extra payments without penalty, helping you to pay your loan off sooner.
  • Redraw facility. If you wish to access money you've paid in the form of extra repayments, you can do so at any time through the redraw facility. You can make an unlimited number of redraws online or over the phone for free, but there’s a minimum amount of $100.


Fees you can avoid

  • Application fee: $0.
  • Valuation fee: $0. Your first valuation is free with Aussie.
  • Redraw fee: $0. It’s free to conduct online and phone redraws.
  • Convert to fix rate: $0. It’s free to convert this loan to a fixed rate loan with Aussie.
  • Loan settlement fee: $0. This is charged when Aussie transfers funds to the seller or the seller's mortgage provider.
  • Portability fee: $300. This is charged to you for bringing your loan over to a new property.
  • Lender’s Mortgage Insurance: Amount varies. This is charged if you wish to buy a property but have less than a 20% deposit.

Fees you can't avoid

  • Loan service fee: $15 per month. This is a monthly fee which totals $0 over the course of the loan.
  • Discharge fee: $535. This covers the costs of preparing discharge documents, also called an exit fee.
  • Solicitors fee: Amount varies. This will be advised by your solicitor.

How to apply for the Aussie Select Standard Variable Home Loan?

Applying for the Aussie Select Standard Variable Home Loan requires that you get in touch with an Aussie mortgage broker. Applying for a home loan through Aussie requires that you meet certain eligibility criteria, which require that you:

  • Have good credit history
  • Are a permanent resident of Australia
  • Are at least 18 years of age
  • Have a regular source of income.

The application process also requires that you submit different information that Aussie uses to verify your credentials and establish the maximum amount you can borrow, so prepare to part with the following:

  • Copy of passport, driver's license, or Medicare card
  • Employer's name and contact details
  • Details of your gross annual income from all sources
  • Details of your average monthly expenses
  • A list of all your debts and liabilities.

While the Aussie Select Standard Variable Home Loan allows you to make unlimited extra repayments and also offers unlimited redraws, so do a few other home loans, so make sure you compare this loan with others before making a decision.

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Aussie Select Standard Variable Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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