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There are two types of Variable Rate Home Loans: Standard and Basic.

With a standard variable rate home loan, as interest rates rise and fall, so do your repayments. They also offer strong account features and repayment flexibility. With a standard variable home loan, your regular repayments are not only paying off the interest on the loan but are also contributing towards the principal amount of the loan.

With a basic variable rate home loan, you can choose a lower interest rate but you will have less account features and less flexibility with your repayments.


  • As interest rates go down, so do the amount of your loan repayments.
  • Standard variable loans will allow you to make loan repayments outside of your normal schedule at no extra cost


  • As interest rates go up, so do the amount of your loan repayments.
  • The increased amount of repayments (if the interest rates rise) could affect your budget so make sure you account for this rise and fall when deciding how much you want to borrow.

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