Reduce Rate Lovers Special Variable Home Loan

A low-rate variable home loan that doesn't skimp on features.

The Reduce Rate Lovers Special Variable Home Loan features a low variable rate usually associated with no-frills home loans. But this owner-occupier home loan comes with features often only found in products with higher interest rates.

A note on comparison rates

The comparison rate includes the cost of fees and the interest rate. Reduce is offering a 5-year loyalty discount on the interest rate to offset the added cost of fees over the life of a loan. This is why Reduce's comparison rate can be equal to or lower than the interest rate, depending on the loan term.

Interest Rate Max Insured LVR Max LVR
3.84% p.a.
Comparison Rate
3.84% p.a.
80% 80%
LVR up to 80%
3.44% p.a.
Comparison Rate
3.44% p.a.
80% 80%
LVR up to 90%
3.69% p.a.
Comparison Rate
3.69% p.a.
90% 80%
Product NameReduce Rate Lovers Special Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$750,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Suitable for InvestmentNo
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$440
Lender's Legal Fee$220 plus disbursement
Valuation Fee$250 covers up to $330
Ongoing Fees$0 p.a.
Settlement Fee$150


  • $0 service fee
  • Low variable interest rate


  • A $440 application fee applies
  • A $150 settlement fee applies

What do I need to know about this loan?

The Reduce Rate Lovers Special Variable Home Loan is available to owner-occupiers and is suited to individuals, companies and trusts.

What are the features and benefits of the Reduce Rate Lovers Special Variable Home Loan?

  • Loan amount and purpose. The Reduce Rate Lovers Special Variable Home Loan is only available to owner-occupiers. It has a minimum loan amount of $50,000 and a maximum loan amount of $750,000.
  • Loan-to-value ratio. The Reduce Rate Lovers Special Variable Home Loan has a maximum loan-to-value ratio (LVR) of 80%, so you’ll need to have at least a 20% deposit.
  • Flexible repayments. You can elect to make your repayments weekly, monthly or fortnightly, and you can make as many additional repayments as you like without penalty.
  • Free redraw facility. If you need to access the additional funds that you've paid towards your home loan, you can do so using the loan's redraw account. There is no minimum amount for redraws made via Internet banking.

What fees and charges come with this loan?

  • Application fee: $440. This one-off fee covers the cost of processing your home loan application.
  • Settlement fee: $150. This fee covers the administrative costs of processing the funding for your home loan.
  • Legal fee: $220 plus disbursement plus disbursements. This fee covers the legal costs associated with settling your home loan.

How do I apply for this loan?

If you're interested in the Reduce Rate Lovers Special Variable Home Loan you can click the link below. You'll be asked to fill in a few details and you'll be contacted by a Reduce Home Loans team member who will help walk you through the application process.

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Reduce Rate Lovers Special Variable Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $440 / $0

  • Max LVR


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