
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Standard variable interest rates are a benchmark for the ordinary variable rate home loan. Many lenders typically have more competitive variable offers than their standard offer. Some smaller lenders may have fewer products on offer, and their most competitive offer and their "standard" offer may be the same thing.
The following table shows the current standard variable interest rates for the major Australian lenders. The table will be updated any time a lender changes their standard variable rate. Make sure to check back to see if your lender has moved in line with the market.
While the table above gives a good indication of the base variable rates for a variety of lenders, in all likelihood you'll find yourself paying much less than the advertised standard variable rate. This is because most lenders offer discounts off their standard variable rates. For instance, while Commonwealth Bank's current standard variable rate is 4.55%, the bank's variable rate Extra Home Loan currently carries a rate of 2.69%.
In addition to discounted rates, many lenders also offer introductory variable rates. These loans, often called "honeymoon rates", offer a set discount off the lender's standard variable rate for a set period of time, often 1-2 years. It's important to note, though, that once this period is over the home loan will often revert to the lender's standard variable rate.
The rates above are a good starting point but there's a lot more to consider when looking for a home loan. Here are some helpful guides and comparison pages for all your mortgage needs:
A UCapital unsecured business loan can provide up to $300,000 without security, with repayment terms between 3 and 12 months.
Need an owner-occupier home loan? Compare rates, understand home owner tax rules and more.
Pepper Money is an Aussie non-bank lender that offers a vast range of personal loans and home loans to customers Australia-wide. Find out more here.
Many mortgage holders don't realise they could save thousands more, with several lenders slashing rates further than the official cut.
The official cash rate is now 0.10%. Here are all the lenders passing on the RBA's November cut to borrowers.
The Citibank Ready Credit unsecured revolving line of credit is available with a 3-year introductory rate of 5.9% p.a. on balance transfers.
Christmas might be coming early for thousands of borrowers with a home loan, according to Finder, Australia’s most visited comparison site.
Read Finder's guide to understanding principal and interest home loans.
Find out more about Pepper Money's no fee personal loan and benefit from a competitive rate from 6.95% p.a., zero fees and loan terms of up to 7 years.
Interest rates on Australian savings accounts are at record lows, but there are a few key benefits to keeping cash in a savings account.Â