Standard Variable Rate
The standard variable rate home loan usually carries a higher interest rate than the basic standard variable rate loan though it is loaded with features not offered by the basic standard variable rate loan.
The standard variable rate home loan is one of the most flexible on the market with features such as the ability to redraw as well as making extra repayments so that you can pay your loan off quicker.
Standard variable rate loans are some of the most popular loans in the market, with options that can suit a broad range of borrowers. Interest rates are loosely in line with the Reserve Bank of Australia’s official cash rate therefore will increase and decrease loosely in accordance to the announced rates.
