Australian lenders standard variable interest rates

Information about Australian lenders' standard variable interest rates.

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

Rates last updated December 14th, 2018
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
$10 monthly ($120 p.a.)
Enjoy a 100% offset account, redraw facility, and up to 10 splits.
$8 monthly ($96 p.a.)
Standard variable home loan with a low doc option for self-employed borrowers.
$0 p.a.
Get a competitive rate, save on fees and access a 100% offset account plus redraw facility. $900 cashback offer.
$0 p.a.
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
$8 monthly ($96 p.a.)
Tailor your home loan to suit your needs. This product comes with a 100% offset account.
$0 p.a.
No ongoing fees, unlimited extra repayments and a 100% offset account all help to pay off a home loan sooner.
$10 monthly ($120 p.a.)
A no frills home loan with a 100% offset account and high maximum LVR.
$8 monthly ($96 p.a.)
An option to link a 100% offset account to save on interest.

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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 5.37%, the bank's variable rate Extra Home Loan currently carries a rate of 3.89%.

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.

Adam Smith

Adam has more than five years of experience writing about the Australian home loan market.

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Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

HSBC Home Value Loan - (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit. Essentials - Variable (Owner Occupier, P&I)

A competitive interest rate home loan with interest only options. Interest rate 3.64% p.a.
comp rate of 3.66% p.a.

Tic:Toc Live in Loan Variable Rate - Principal & Interest

Get a very low interest rate and avoid big fees. Apply online for full approval in under 30 minutes and add a 100% offset account for $10 a month.

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