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Why choose a Basic Home Loan?

No monthly fees and a lower interest rate

A no frills loan
A home loan with a lower variable interest rate, useful for first home buyers or anyone who doesn’t want to pay for features they won’t use.
Make extra repayments at no extra cost
Pay off your loan sooner and save on interest.
$0 monthly service fee
And a $0 establishment fee if you borrow more than $150k3 when making Principal & Interest repayments (see fees section).

You also get…

No-frills low rate loan

Designed for someone who wants a no-frills, basic home loan.

Redraw facility

If you have made any extra repayments, you have same day access to redraw them. (fees apply)2.  Learn more

Flexible repayments

Choose to make your repayments weekly, fortnightly or monthly.

Family Pledge

You could use the equity in a family member’s home to help you on your home buying journey and maximise the amount you can borrow. Learn more

Take a break from repayments

You may be able to pause or reduce your repayments for a set period (keep in mind after the break your repayments may be higher for the rest of your loan term).2

Owner occupier

  • 3.83% p.a Basic Home Loan Variable rate.
    Principal & Interest repayments.^
  • 3.84% p.a Comparison rate*

Residential Investment

  • 4.39% p.a

    Basic Home Loan Variable rate.
    Principal & Interest repayments.^

  • 4.40% p.a Comparison rate*


  • $0 Establishment Fee if loan amount is greater than $150,0002 for customer making Principal & Interest repayments only.
  • $0 Monthly Administration fee

The Detail

Conditions, fees and credit criteria apply. Before making a decision, it’s best to read the terms and conditions.
Residential Loan Agreement
General Terms and Conditions.
Loan Accounts
Charges for specific services and accounts.
Advantage package
Terms and Conditions.

Start your journey online

Learn how much you could borrow, without knowing the loan type.
Receive indicative approval in under 10 minutes.
A home loan expert will call to talk you through your options.

Talk to us

Conditions, fees and credit criteria apply.

Before making a decision, it’s best to read the terms and conditions:

Please read these documents and keep a copy. You can request a paper copy at a branch.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 22 66.

*  The comparison rate is based on a loan of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

^ Rate includes 0.79% p.a. discount for Owner Occupier purposes or a 0.81% p.a. discount for Residential Investment purposes applied to our Basic Home Loan offer for the life of the loan. This offer may be withdrawn at any time. This offer is only available for new Basic Home Loan applications received from 8 May 2017. Interest rates subject to change (and margins may apply). Call us for more information on current offers available. Excludes internal refinances and switches within St.George, Bank of Melbourne and BankSA.

1. As compared to our standard variable interest rate.

2. Redraw requests and repayment pause are subject to our approval. Fees apply.

3. Upfront fees and other fees and charges may apply.