Australian Lender's Standard Variable Interest Rates | Finder

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 updated regularly
$
years
Name Product Interest Rate (p.a.) Comp. Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
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.
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.
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

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