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St.George Basic Home Loan

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Pay your loan off sooner thanks to a low interest rate and no monthly fees

If you’re looking to buy a new house and don’t want to pay for features you may not use, you might want to consider the St.George Basic Home Loan. It offers a low variable interest rate with no ongoing fees.

Refinance cashback offer

Eligible customers switching to St.George can get a combined cashback of up to $4,000. The offer consists of a $2,000 cashback per property (for borrowers refinancing a principal-and-interest owner-occupier loan or an investment loan) plus one bonus $2,000 cashback.

The offer is available on the Basic Home Loan and the Advantage Package Home Loan. You must be refinancing a minimum loan amount of $250,000 per property and have a loan to value ratio of 80% or lower. There is a limit of one cashback available per property refinanced and one $2,000 bonus cashback only, regardless of the number of properties. The cashback excludes anyone refinancing from within the Westpac group (Westpac, St.George, Bank of Melbourne, BankSA and RAMS).

You must apply by 31 January 2021 and settle the loan by 31 March 2021. Other conditions apply.

Special offer

The establishment fee is $0 on St.George Basic Home Loans.

Interest Rate Max Insured LVR Max LVR
LVR 60% to 80% (Owner Occupier, P&I)
2.54% p.a.
Comparison Rate
2.56% p.a.
80% 80%
LVR above 80% (Owner Occupier, P&I)
2.59% p.a.
Comparison Rate
2.61% p.a.
90% 80%
LVR up to 60% (Owner Occupier, IO)
3.94% p.a.
Comparison Rate
3.95% p.a.
60% 60%
LVR up to 60% (Owner Occupier, P&I)
2.59% p.a.
Comparison Rate
2.61% p.a.
60% 60%
Promotional Rate (Investor,IO)
3.34% p.a.
Comparison Rate
3.36% p.a.
90% 80%
Promotional Rate LVR 60% to 80% (Investor, IO)
3.29% p.a.
Comparison Rate
3.31% p.a.
80% 80%
Promotional Rate LVR 60% to 80% (Investor, P&I)
3.09% p.a.
Comparison Rate
3.11% p.a.
80% 80%
Promotional Rate LVR up to 60% (Investor, IO)
3.24% p.a.
Comparison Rate
3.26% p.a.
60% 60%
Promotional Rate LVR up to 60% (Investor, P&I)
3.04% p.a.
Comparison Rate
3.06% p.a.
60% 60%
Product NameSt.George Basic Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$30,000
Minimum Loan TermN/A
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee$500 (waived for loans above $150,000)
Valuation FeeFrom $164
Ongoing Fees$0 p.a.
Settlement Fee$100
Discharge Fee$350


  • Borrow up to 95% of the property value (lender's mortgage insurance may apply).
  • Make extra payments without penalty.
  • Withdraw additional payments via internet or phone banking through the redraw facility at no cost.


  • A $100 settlement fee applies when setting up this loan.
  • A discharge fee of $350 applies when you close your home loan account.

What do I need to know about this loan?

The St.George Basic Home Loan can be used to purchase any residential property with a term of up to 30 years. It has a variable interest rate and can be used to purchase vacant land, but it cannot be used as a construction loan.

You can borrow up to 95% of the value of your chosen home with lenders mortgage insurance (LMI) or up to 80% of the property's value without LMI.

What are the features and benefits of the St.George Basic Home Loan?

  • Redraw facility. A St.George Basic Home Loan offers the ability to withdraw extra funds that you may have deposited on your home loan. This means that you can use any extra money you may have to reduce your home loan debt and still be able to access these funds if there is ever a situation where you require them.
  • Flexible repayments. Home loan repayment can be made weekly, fortnightly or monthly.
  • Fees and charges. The St.George Basic Home Loan charges no monthly account-keeping fees.
  • You can make extra repayments. Extra repayments can be made at any time without incurring penalties.

What fees and charges come with this loan?

The St.George Basic Home Loan comes with few fees, but you will have to pay the following:

  • Establishment (application) fee: $500 (waived for loans above $150,000). If you're borrowing above $150,000 you won't have to pay this fee.
  • Discharge fee: $350. A discharge fee applies if you close your account with St.George.
  • Settlement fee: $100. This fee covers the cost of setting up your account.

How do I apply for this loan?

If you think that the St.George Basic Home Loan could work for you, click the green button to get in touch with a lending specialist from St.George. Make sure you have the following information on hand:

  • Employment details including addresses and phone numbers
  • Income details including assets
  • Details of any other loans (personal or home), credit card debts or store cards

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20 Responses

  1. Default Gravatar
    ReneeJune 29, 2017

    Does your Basic home loan have the facility for an offset account? We are currently with CBA and are looking to refinance but would like to be able to offset our mortgage with savings. Thanks

    • Default Gravatar
      LiezlJune 30, 2017

      Hi Renee,

      Thanks for your question. Just to confirm, you have reached finder, not actually St. George.

      This basic home loan doesn’t have a linked offset account. It has a redraw facility though. You may check this page to know which St. George home loans have linked offset account.

      Kind regards,

  2. Default Gravatar
    Ben9June 19, 2017

    Hi, I’m looking at the home loan for the first home buyer, I had a bad credit card but I had paid off 01 years ago so I still easy apply for my loan?
    What does it mean “You can borrow up to 95% of the value of your chosen home with lenders mortgage insurance (LMI)”, for example, if I had 50000 on my budget?

    • Default Gravatar
      LiezlJune 20, 2017

      Hi Ben,

      Thanks for your question.

      Kindly note that late or missed credit card payments are listed on your credit file for two years even though you had paid it in full. It would be a good idea to check your credit score and get a copy of your credit file before you apply for a loan. You’ll need a valid Australian driver’s licence to request for your credit score.

      Meanwhile, you can check first home buyer’s home loan option on this page. Please make sure you confirm that you meet the eligibility criteria before you submit your application, as rejected credit card applications can have a negative impact on your credit score.

      If you have a budget of AUD50,000 for deposit, you should be looking for a property with a total purchase price of AUD 1 million for a 95% loan to value ratio (LVR) home loan. You have to take into consideration as well the cost of the lenders mortgage insurance (LMI) which the lender will require you to take out. LMI covers your lender in the event that you default on your home loan. You might find this page helpful in understand LMI and this page for LVR.

      I hope this has helped.


  3. Default Gravatar
    AndieMay 31, 2017

    Hi, I am not a first home owner but have a low deposit due to divorce and other life circumstances. I want to know what my options are if i have a 30-40K deposit but have good affordability and no dependents or other debts. I am looking at re-entering the market and want to know what price range i can be looking at.

    • Default Gravatar
      JonathanMay 31, 2017

      Hello Andie!

      Thanks for the comment.

      We have lenders on this page who can help those with low deposits. You can use our mortgage calculator to check which providers will best suite your present situation.

      You can click “Go To Site” green button of your chosen lender to proceed.

      Hope this helps.


  4. Default Gravatar
    VickiNovember 2, 2016

    Are you prepared to loan to someone on a Disability Pension, with a substantial deposit, ie $100,000 approx. How much could be borrowed?

    • Avatarfinder Customer Care
      HaroldNovember 2, 2016Staff

      Hello Vicki,

      Thanks for your question.

      Please note that if you receive Centrelink payments, including the pension, and are looking for a loan, you may find your options somewhat limited. Lenders have stricter criteria for those receiving disability support pension (DSP) carer’s pension or the age pension.

      For your reference you may find this article helpful.

      I hope that helps.


  5. Default Gravatar
    AnthonyOctober 2, 2016

    Hi Do you have banking branches and were can I find the closest to Frankston or Mordialloc 3195 Thanks

    • Avatarfinder Customer Care
      JenniferOctober 24, 2016Staff

      Hi Anthony,

      Thank you for contacting we are a financial comparison website and general information service and therefore can only offer general advice and information.

      Yes, St. George does have a branch on Frankston.
      Here is the address
      Frankston Branch
      3 Shannon Street Mall,
      Frankston, VIC, 3199

      Closest to Mordialloc is Mentone Branch.
      20-22 Como Parade,
      Mentone, VIC, 3194.

      I hope this helps.


  6. Default Gravatar
    TracyApril 13, 2016

    Do you provide Home Loans in Darwin , Northern Territory for re financing?

    • Avatarfinder Customer Care
      MarcApril 14, 2016Staff

      Hi Tracy,
      thanks for the question!

      While St.George doesn’t operate in Darwin, BankSA does, and they offer this exact same product (they’re both part of the Westpac group and offer the same products).

      I hope this helps,

  7. Default Gravatar
    JohnMarch 7, 2016

    can i use my owned house as collateral to enter into the loan without cash exchange

    • Avatarfinder Customer Care
      BelindaMarch 8, 2016Staff

      Hi John,

      Thanks for getting in touch.

      I’ve sent you an email to follow up with this enquiry.


  8. Default Gravatar
    SinghFebruary 26, 2016

    I have my mortgage with CBA charging variable rate 4.90%. Current outstanding is 180K.
    I am willing to switch over to other lenders @ some reduced mortgage rate.
    I am also looking to Re-financing against equity to enter into investment property in future.
    Will appreciate your help with great offers.

    • Avatarfinder Customer Care
      MarcFebruary 26, 2016Staff

      Hi Singh,
      thanks for the question!

      You might wish to speak directly with St.George about the Basic Home Loan, or alternatively fill in the mortgage broker form on the right side of this page to get some help to find the right home loan for you. You might also want to compare other refinancing deals to see what’s out there.

      I hope this helps,

  9. Default Gravatar
    JamesJanuary 14, 2016

    Hi guys,we are currently looking to re-finance & consolidate some debts on top of our mortgage. We currently would need to borrow to a capacity of 95% so (Lenders Mortgage insurance) would have to be included. We were looking to borane extra $10000, but are finding it difficult to find a suitable lender with a reasonable “interest rate” and also to only pay “interest only”. Also the value of our property seems to becoming under value,considering the recent sales of properties in our area sell for way beyond to what the Banks value properties are selling for in the area. Would just like to know where to go to,also the more inquiries you make for applications for Re-financing seems to go against you….

    • Avatarfinder Customer Care
      BelindaJanuary 15, 2016Staff

      Hi James,

      Thanks for reaching out.

      You are correct in saying that the more enquiries that you make for a refinancing application can “go against you” in the sense that it can harm your credit file. This is why it is particularly important to consult a mortgage broker as they will be able to draw upon their panel of lenders to find a mortgage that’s suitable for you– they can also negotiate for a better rate on your behalf.

      We have a guide about refinancing for debt consolidation where you can learn more about the benefits, risks and costs involved when switching to a debt consolidation home loan.

      It is essential that this type of home loan is structured correctly (again this is where a mortgage broker can be useful) because if you consolidate personal debt (e.g. credit cards) under your mortgage, although you may be paying a lower interest rate for the short-term debt, you will be stretching it out over a longer term (e.g. 30 years for a mortgage). This can see you paying higher interest charges over the life of the loan.

      You can use our switching cost calculator to estimate your refinancing costs.

      All the best!

  10. Default Gravatar
    DavidSeptember 26, 2015

    I currently have a home loan of 246,000 my interest rate is 4.73 i would like to bring my interest rate down another 0.8%atleast as i have been a loyal customer for 30 years.
    Thanks Dave

    • Avatarfinder Customer Care
      MarcSeptember 28, 2015Staff

      Hi Dave,
      thanks for the question.

      You’ve come through to, a comparison service, so we’re unable to help you negotiate your home loan rate. To speak to St.George regarding your home loan, please contact them directly.

      I hope this helps,

St.George Basic Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $500 (waived for loans above $150,000) / $0

  • Max LVR


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