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
$
years
Name Product Interest Rate (p.a.) Comp. Rate^ Application Fee Ongoing Fees Max LVR Monthly Payment
ANZ Standard Variable Home Loan
4.39%
4.49%
$600
$5 monthly ($60 p.a.)
90%
$751.26
Make additional repayments and use your 100% offset to pay off your loan sooner.
UBank UHomeLoan Variable Rate
3.14%
3.01%
$0
$0 p.a.
80%
$644.87
Pay interest only repayments with this special offer for investors.
ANZ Standard Variable Home Loan
4.99%
5.09%
$600
$5 monthly ($60 p.a.)
90%
$805.29
Commonwealth Bank Wealth Package
3.85%
4.27%
$0
$395 p.a.
97%
$704.25
Refinancers borrowing at least $250,000 can get $2,000 cashback on eligible home loans. Other terms, conditions and exclusions apply.
Westpac Rocket Repay Home Loan
4.58%
4.72%
$600
$8 monthly ($96 p.a.)
95%
$768.17
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
5.24%
5.18%
$600
$5 monthly ($60 p.a.)
80%
$828.33
Commonwealth Bank Wealth Package
4.34%
4.42%
$0
$395 p.a.
97%
$746.85
Refinancers borrowing at least $250,000 can get $2,000 cashback on eligible home loans. Other terms, conditions and exclusions apply.
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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:

More guides on Finder

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. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

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.

Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)

Get a competitive variable interest rate with no application fee or ongoing fees.

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