Variable Rate Home Loan
A variable rate home loan gives you maximum flexibility, offset account, unlimited extra repayments, and redraw, with a rate that can drop when the RBA cuts the cash rate.
Indicative rates from 6.04% p.a. (comparison rate). Your actual rate depends on LVR, loan size and lender. We compare 80+ lenders to find your best option.
6.04%
Rates from (p.a.)*
30 yrs
Maximum loan term
95%
Max LVR (with LMI)
80+
Lenders compared
Why choose a variable rate home loan?
Variable loans offer unmatched flexibility, making them the preferred choice for most Australian owner-occupiers and investors.
Offset account reduces interest daily
A 100% offset account linked to your loan means every dollar sitting in your transaction account is working to reduce the interest charged on your home loan balance.
Unlimited extra repayments
Pay as much extra as you like, whenever you like. This flexibility allows you to dramatically reduce your loan term and total interest paid without any penalty fees.
Redraw facility
Access any extra repayments you've made if you need funds for an emergency or opportunity. Your money stays working for you until you need it back.
Rate moves with the market
When the RBA cuts the cash rate, lenders typically pass on some or all of the reduction to variable rate borrowers, meaning lower repayments without needing to refinance.
How an offset account works
An offset account is one of the most powerful features of an Australian variable rate home loan. Your salary, savings and everyday cash sit in this account, reducing the interest you pay on your mortgage every single day.
Example calculation
Loan balance: $600,000
Offset account balance: $60,000
Interest charged on: $540,000
Annual interest saving at 6.5%: ~$3,900
- Interest calculated on reduced balance daily
- Use it as your everyday transaction account
- No restrictions on deposits or withdrawals
- Available on most standard variable loans
Free assessment, no credit check
Our brokers review your situation and compare 80+ lenders to find the sharpest variable rate available for your profile. No upfront cost. No obligation.
- ✓Compare 80+ Australian lenders in one place
- ✓Offset account options from all major banks
- ✓Expert guidance from FBAA-accredited brokers
- ✓We manage the full application to settlement
Plan your home loan
Use our free tools to understand your repayments and borrowing capacity.
Variable rate home loan FAQs
Common questions from Australian borrowers about variable rate home loans.
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*Indicative rate only. Subject to lender credit assessment and eligibility. Comparison rate based on $150,000 loan over 25 years.