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Australian lenders standard variable interest rates

Information about Australian lenders' standard variable interest rates.

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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.

Compare lenders standard variable rates

Data indicated here is updated regularly
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Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
ANZ Standard Variable Home Loan  - (Owner Occupier, P&I)
4.39%
4.49%
$600
$5 monthly ($60 p.a.)
90%
Make additional repayments and use your 100% offset to pay off your loan sooner.
UBank UHomeLoan Variable Rate - Investor Extra Offer Investor Interest Only
3.29%
3.16%
$0
$0 p.a.
80%
Pay interest only repayments with this special offer for investors.
Aussie Select Standard Variable - (LVR 80.01% to 90%) (Investor,P&I)
3.44%
3.64%
$0
$0 p.a.
90%
Borrow up to 95% LVR with no application fee and low ongoing fee.
ANZ Standard Variable Home Loan  - (Investor, P&I)
4.99%
5.09%
$600
$5 monthly ($60 p.a.)
90%
Enjoy a 100% offset account and borrow up to 90% LVR.
Westpac Rocket Repay Home Loan - LVR above 70% (Principal and Interest)
4.58%
4.72%
$600
$8 monthly ($96 p.a.)
95%
The Westpac Rocket Repay Home Loan lets borrowers to own their home sooner with a 100% offset to save on interest.
ANZ Standard Variable Home Loan  - (Investor, IO)
5.24%
5.18%
$600
$5 monthly ($60 p.a.)
80%
Enjoy a 100% offset account and borrow up to 90% LVR.
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Discounted variable rates

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.

How can I find the right home loan for me?

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:

Related Posts

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I (*now 2.59%, drops to 2.54% on 30 Sep)
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I (*now 2.59%, drops to 2.54% on 30 Sep)

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan. This rate will drop to 2.54% p.a on 30 September 2020 for new and existing customers. You can get this rate if you apply today.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

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